30-year-old Chip Sealing Business with 15 on staff
90% Municipal work with over 7 Million in Backlog!
Based in South Dakota, this Chip Sealing business offers services including asphalt paving (5%), surface treatments and crack repair (5%), and chip sealing/ armor coating (90%). The current work in progress for this company exceeds $7.5M and included in the purchase of this business is over $4M in assets. Their fleet consists of work trucks ($479k), oil distributors ($796k), chip spreaders ($519k), dump trucks ($437k), tractors, trailers, rollers, and tanker trucks this business is primed for the work ahead. Having been established over 30 years ago, this asphalt and paving business has built an excellent staff and management system which will allow new ownership the opportunity for passive ownership. The team consists of 15 FT W2 Employees + 12 seasonal laborers, while the General Manager operates the company by providing support for billing, supply ordering, A/P and A/R, reporting, and contractual agreements. The employees waste no time and often complete smaller projects while in the area for contracted larger projects. These small projects can be completed in as little as one day, and they complete their largest projects within 10 days. Their client base is made up of primarily State, County, and Municipal Governments as well as Corp of Engineers and they also handle some residential work. Billing is also done in a timely manner, with invoices going out on the day of completion of the project. On smaller, private projects, the cost is collected before the project even begins!
Many of their projects come from throughout South Dakota and Nebraska, filling up their schedule by April by winning bids in each area. With enough current equipment to support an additional team, the resources are ready to go to expand the business if desired! Priced at $5,625,000, a down payment of $843,750 would return $393,189 in the first year. The assets associated with this business collateralize over 75% of the purchase. This South Dakota asphalt paving business is ready for their next step and is an excellent opportunity for any new owner, as the current responsibilities of the owner consist of only project oversight!
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