Excavation And Road Contractors For Cities Schools

Description

Civil contracting company for sale serving Virginia, West Virginia and Kentucky.

The business handles excavation, utilities, road work and other infrastructure projects for municipalities, state agencies, school districts and commercial customers.

Current work in progress is approximately $21M.

Revenue is spread across several customer groups: municipalities account for about 36%, school districts 23%, state agencies 22% and commercial clients 19%.

The company has been operating for more than 50 years.

There are more than 120 employees, including three Senior Vice Presidents, eight superintendents, an office manager, a billing administrator and approximately 110 field employees.

The owner provides general oversight but is not involved in daily operations.

The sale includes more than $14M in assets, including construction equipment, transportation equipment, office equipment, software and working capital.

A third-party appraisal has been completed for the assets.

Annual capital spending is approximately $350,000.

The business does not hold MBE, WBE or Veteran certifications.

Asking price is $19.25M.

The owner is retiring and is willing to stay for one to two years during the transition.

Seller financing is available for 15% of the purchase price.