Description:

The company is a paving company that provides asphalt, concrete, and striping services, with a specialization in the construction of curb and gutter.

Key Aspects:

Revenue grew at a compound annual growth rate of 10.5% from 2019 through 2022
Average gross profit margin of 40.9% from 2019 through 2022
The company serves industrial, commercial, governmental, and residential customers
Over 50 years of operating history
Approximately 90% of revenue is derived from repeat customers, according to management
Accredited to bid on and perform work with its home state and a border state’s Departments of Transportation (DoT)

Opportunities:

Expand residential offerings to gain additional clients
Increase online visibility to reach more potential customers by making the company website search engine optimized (SEO)
Capitalize on its local ports authority’s expansion to gain additional projects
Utilize newly purchased concrete batch plants to lower materials cost

Headquartered:

Current Markets:

The company currently serves industrial, commercial, governmental, and residential customers throughout its home state and a border state

Real Estate:

The company operates from a 2,500 sq. ft. facility on five acres of land leased from an affiliated entity
The company leases an additional five-acre property from the affiliated entity and a three-acre property from an unrelated third party

Shareholder Ownership:

The company is owned by a single shareholder
The owner, who is the current president of the company, is seeking retirement but is willing to remain with the company for a predetermined period following a sale to ensure a smooth transition to new ownership.

Benchmark International

Paving Company – BN000041806