Erosion & Shoreline Control, Site Prep for Civil & Industrial
With 97 employees & 20+ active jobs at one time!
This heavy civil construction business has 97 full-time employees in place and over 20 active projects at one time! Their sale size ranges from $10k to $5M, and they have averaged over 225 jobs per year for the last 3 years. Already on their 70th job of 2021 and $11M in backlog, work is plentiful for this Texas company. They offer a vast array of heavy civil construction services, including building streets, subdivisions, commercial site preparation, and industrial work at petrochemical plants, as well as utility system construction, earthwork, site preparation, coastal erosion control, shoreline protection, and general maintenance. Clients are comprised of private developers, industrial, city, county, and state governments, and GC’s. This versatile offering of services and diverse client base works in this company’s favor, as they don’t rely heavily on one client or sector. Approximately 65% of their work is as the GC, primarily for the county, city, or state. The other 35% involves working for the GC on a project as the sub. While they do have a go-to list of subcontractors when needed, the majority of the time, it’s their own team doing the work.
The team works out of a 6,000 sq. ft. office building located on 5 acres of land; their facilities also include 1 heavy equipment shop, 1 truck shop (2,000 sq. ft. each), and 1 fuel & oil shed (1,200 sq. ft.). The owner of the business owns the facility under a separate entity and leases it back to the business for $9,000/month. With a solid reputation in the area, the business has long-standing relationships with customers and GC’s alike; they are able to keep their service area within a 100-mile radius of the office.
Utilizing top notch ComputerEase, HCSS, AGTEK, and Trimble software, this well-respected team receives invites to bid from GC’s they’ve worked with over the years; they also subscribe to websites that send notices of upcoming projects that are up for public bidding, with a 20-25% success rate. Priced at $20,250,000, there is ample opportunity for growth. Expanding the service area, actively pursuing more bids, or opening a satellite office in an area nearby where the population is booming would certainly lead to an increase in revenue.
Year Established: 1959; incorporated in 1971; under current ownership since 1996
Location: Port Lavaca, TX
Service Area: 100-mile radius of Port Lavaca
Services: Coastal erosion control, shoreline protection, utility system contracting, earthwork, site preparation, maintenance, industrial site work
Clients: Heavy Civil City, County & State governments, industrial, private developers & GC’s
Lease: 5 acres of land, with 1 office building (6k sq. ft.), 1 heavy equipment shop (2k sq. ft.), 1 truck shop (2k sq. ft.), 1 fuel & oil shed (1,200 sq. ft.): $9,000/month
Reason for Selling: Retirement, Age
Personnel: 97 FT W2 employees; plus a go-to list of subcontractors hired as needed
Seller Training Period: 6-12 months
Growth Opportunities: Expand service area, pursue more bids, open a satellite office in an area of the state where population is booming
Current Owner’s Responsibilities: General oversight
Board of Directors:
- General Manager
- Office Manager
Team of Employees:
- 4 Admin
- Chief Estimator
- 2 Estimators/Project Managers
- 1 Asset Manager
- 1 Trucking Manager
- 3 Mechanics
- 1 Field Engineer
- 1 Safety/Quality Control Manager
- 2 Site Safety Technicians
- 5 Superintendents
- 9 Foremen
- Survey Crew
- Crews & Subcontractors as needed
- List Price: $20,250,000
- 2020 Cash Flow: $4,316,388
- Assets: $6,500,000
- Equipment/Vehicles: $4.8M: Heavy & Misc.
- Vehicles: $1.7M: Light & Heavy
- Backlog: $11M
Cash Flow Analysis
|Description of Financial Statement||P&L Statement|
|Tax Return||Tax Return||Tax Return||Notes|
|Net Income Shown on Financial Statement||$1,578,881||$1,004,467||$963,739||$302,220|
|Compensation to Owner||$1,631,201||$1,413,898||$869,535||$872,840||3 officers|
|11% Tax on total W2 Salaries||$179,432||$155,529||$95,659||$96,012|
|Owner Life Insurance||$771||$0||$0||$0|
|Seller's Cash Flow = Total Addbacks + Net Income||$4,316,388||$4,320,991||$2,941,808||$1,907,636|
|Profit Margin||18.33 %||13.77 %||12.32 %||10.41 %|
|Document Title / Description|
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