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  • Email:vanderschuur@benchmarkcorporate.com
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Leading Concrete Contractor

  • 1235
Specifications
EBITDA$2,629,000
Revenue$23,071,000
Client CodeBUI1496
EBITDA Range 1.5M-2.5M
Revenue Range 10M-25M
Sector Building-and-Construction
Region Southeast-US
Deal Structure Open
HeadquartersNorth Carolina, US
Description

A turn-key concrete contractor providing flatwork, tilt-up construction, foundations, and exterior paving. The company has been working in the concrete space for over 30 years and has developed long-term relationships with leading contractors.

 

Key aspects

 

  • Operating in growth mode; revenues and adjusted EBITDA have grown at a compound annual growth rate of 25.8% and 28.3%, respectively, from 2013 through 2017
  • $7.8M backlog as of December 31, 2017
  • Succession plan in place, with seasoned management team to run the day-to-day operations
  • Places several million square feet of concrete floors and tilt wall panels annually
  • Long-term relationships with leading contractors, resulting in significant repeat business
  • Specialize in large-scale, heavy industrial and commercial projects

 

Opportunities

 

  • Form a dedicated sales team to actively seek out and engage prospective customers
  • Expand geographic reach to increase market share and acquire additional customers
  • Bolt-on for complementary construction service provider

 

Market Currently Served

 

Commercial, military, and heavy industrial entities located throughout the Carolinas

 

Real Estate

 

The company operates out of a 20,000 square foot facility with ample room for expansion. The company leases the building from a related party and the real estate can be included in the sale.

 

Shareholder/ Owner Objectives

 

The owner is exploring his exit options and open to various deal structures. Management oversees the day-to-day operations, but the owner is available for a transition period if needed.

 

Key Indicators

Year End
12/31/2017
Reviewed
$’000
12/31/2016
Reviewed
$’000
12/31/2015
Reviewed
$’000
12/31/2014
Reviewed
$’000
Turnover 23,071 19,323 15,221 13,628
Gross Profit 3,441 3,129 2,252 2,127
Adj. EBITDA* 2,629 2,681 1,778 1,350

* Profit before interest, tax, depreciation and amortization (non-cash items)