Commercial & Industrial Painting Company – 40+ Years – Boston Area

Description

Commercial and industrial painting business for sale serving Boston and the broader New England market. The company has been operating for more than 40 years and has an experienced union workforce in place.

Financials

• Annual revenue range: approximately $1.7 million to $2.9 million
• Reported average cash flow: approximately $700,000
• More than $1 million in contracted work stated for the next three years

Buyers should review annual results individually, as revenue has varied within the stated range, and confirm how the reported $700,000 average cash flow is calculated.

Backlog and customers

The seller reports more than $1 million in contracted work with a publicly traded Boston-based company extending over the next three years.

The company is also actively bidding on additional commercial and industrial projects throughout New England.

Team

An experienced union painting crew is currently in place. The existing workforce provides continuity for active jobs and future contracted work.

Buyers should review applicable collective bargaining agreements, wage schedules, benefit obligations and staffing requirements as part of the transaction.

Assets included

• Two late-model trucks
• Multiple spray machines
• Painting tools and field equipment
• Accounting and payroll software systems
• Office furniture and equipment

Facilities

• Approximately 2,000 sq. ft. office
• Approximately 2,000 sq. ft. warehouse
• Loading dock
• Heated warehouse space

The office and warehouse provide space for administration, equipment storage and project support. Buyers should confirm whether the facilities are leased or owned and review the applicable occupancy terms.

Growth

• Win additional projects currently in the bidding pipeline
• Expand into additional New England markets
• Add complementary coating and finishing services
• Develop additional commercial and industrial accounts
• Build strategic relationships with general contractors and property operators

Due diligence

Buyers should verify historical financials, cash flow calculations, signed contracts, backlog, customer concentration, project-level margins, accounts receivable, union obligations, employee compensation, vehicle and equipment ownership, insurance, bonding requirements and facility terms before closing.

Commercial and industrial painting projects may also involve contractor registrations, safety requirements, lead or hazardous-material procedures and project-specific permits. Buyers should confirm the requirements applicable to the company's current work and service areas.