A professional PM firm that plans and manages renovations and
maintenance for military bases across the upper West Coast.
Clients are 90% Federal/Government and 10% private, including
the VA, Navy, US Coast Guard, Army, and School Districts. There
are typically 25-30 active jobs concurrently which represents a
current WIP of $78,000,000. Project types include Medical &
Hospital 45%, Vertical Structures 40%, and Heavy Civil 15%. A
highly developed leadership team is in place where there are about
55 key employees, including a President, CFO, 4 Project Managers,
2 Engineers, 5 Superintendents, 2 Foreman, 5 Estimators, 4 Quality
Control, plus Admin, IT, and Assistants. This allows the owner to
work remotely, spending only 10 hours per week providing
“strategic vision” to the leadership team. They have a 4+ year
backlog with multi-year contracts in place. The Seller is willing to
stay 3 years post-close and will also offer a promissory note and/or
equity roll of 30% as a sign of good faith. With the purchase, a
buyer would receive $3.4M in assets, including working capital and
the vehicles and equipment needed to continue successfully.
CapEx remains very low at less than $200K per year. Reoccurring
clients are the VA, Federal Government, and the US Military. There
will not be any impact on this business should there be a recession,
Government shutdown or upcoming election. In fact, due to the
2022 US Infrastructure Bill, this business will have organic growth
as the Bill has literally billions of dollars in set asides for our military
bases.