Description:

The company is a commercial masonry sub-contractor, specializing in brick, block, precast, and stone masonry in Virginia.

Key Aspects:

Adjusted EBITDA has grown at compound annual growth rate (CAGR) of 27.7% from 2019 to 2022
Average annual revenue of $11.4M over the past four years
Owns the majority of the machinery required for each project
In operation for over 70 years with an established reputation
In 2022, 70% of business was from repeat customers
Experienced senior supervisors who delivery efficient project management on a quick timeline

Opportunities:

Begin working with general contractors outside of Norfolk, VA to grow market share and acquire additional customers
Develop a building renovation, alteration, and masonry repair divisions to increase project volume

Headquartered:

Current Markets:

The company largely serves the commercial and municipal construction market, focusing on schools, healthcare facilities, and governmental projects.

Real Estate:

The company operates from several operating facilities leased from an unrelated third party, totaling 20,947 sq. ft., all of which are located on 1.3 acres of land. These facilities include a 6,300 sq. ft. office space, an 11,000 sq. ft. warehouse, and a 3,647 sq. ft. covered parking area.

Shareholder Ownership:

The company is owned by three shareholders. The owners are looking to begin planning for retirement and are willing to stay with the company for a smooth transition to new ownership.

Benchmark International

Leading Commercial Construction Masonry Sub-Contractor – BM003363