Chicago Based Civil Engineering Firm with Diversified Services & $2 Million in 2022 Projects!
No license needed for new owner and excellent engineering team in place!
This dynamic engineering firm in Northern Illinois specializes in civil engineering and surveying services, but also provides other niche services to clients. They already have nearly $2M on the books for 2022 ($1.6M work in progress, $300K pipeline), which shows a huge increase over previous years. The firm has over 60 years of history and reputation in the community, and the current, second-generation owner keeps the tradition of excellence alive. They are equipped to work with both public and private clientele. These clients are comprised of government & municipal (75%), education (8%), contractors (9%), and private companies (8%).
There are 11 total employees on staff, outside of the owners. This includes 3 engineers, 1 surveyor, 1 CADD manager, 3 survey team members, and 3 administrative assistants. Their team boasts impressive credentials and experience beyond many of their competitors. These qualifications, along with the firm’s long-established reputation in local governments and municipalities give the firm a strong competitive advantage when bidding on projects. Because of the strong team in place, a new owner would not need to be a licensed engineer, as the staff on hand already has the necessary licenses.
The existing team is set up to continue operating after the current owners leave. However, the sellers are also open to staying on as strategic partners and helping the new owner grow the business in the years to come. An ongoing salary of $150K/year was accounted for in the cash flow to either keep the sellers on board or to bring on new engineers to continue growth!
At a price of $900,000 and a down payment of $112,500, a buyer would receive $174,584 after debt payments, resulting in a 155% return on investment in the first year!
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