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Public Works Contractor for Highway & Railroad – BN000036443

Northeast US, Southeast US
10M-25M50M+ Building & Construction, Motor, Transport & Marine
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TEASER
CLIENT CODE: BN000036443
REVENUE/TURNOVER: $118,692,000
EBITDA: $21,474,000
HEADQUARTERS: Eastern US
 
Interested? Contact Us
813-898-2350
wsullivan@benchmarkintl.com
Public Works Contractor for Highway & Railroad – BN000036443

William Sullivan

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The business offering consists of two companies: a heavy civil and highway construction company and a railroad construction company that completes projects for all classes of freight carriers, shortlines, rail yards, and terminals for public and private railroads. Both companies primarily work on large-scale multi-year projects for public agencies in the Eastern US.

Key Aspects

  • From 2018 to 2021, combined adjusted EBITDA grew at a compound annual growth rate (CAGR) of 7.9%
  • From 2018 to 2021, average gross profit margins of 20.9% and 29.8% for the heavy highway and railroad construction companies, respectively
  • Well-known and efficient in the areas of earthwork, utilities, bridgework, and railroad construction
  • Public Works Certifications and Prequalifications
  • The companies collectively have approximately $147 million in secured backlog as of December 31, 2021
  • Over 90% of revenue is from repeat customers
  • On average, works as the prime contractor in over 75% of its projects

Financial Disclaimer: Financial results for both entities have not been combined due to intercompany transactions. Revenues and costs are subject to intercompany transfers not identified.

Opportunities

  • Capitalize on the recent passage of the Federal Transportation and Infrastructure spending bill to gain more projects
  • A current major client gained approval for an increase in tolls, which will lead to additional work in the highway construction company’s field of expertise for the next 10 years
  • Capitalize on expansion options into new geographical markets in the Eastern US
  • Expand service offerings to include electric utility and signalization work to increase both competitiveness and open a new revenue stream
  • Implement a strategic marketing plan to secure additional private work

Headquartered

  • Eastern US

Current Markets

  • The company completes projects for the public and private sectors throughout the Eastern US.

Real Estate

  • The company operates from three facilities totaling 34,000 sq. ft., leased from an affiliated entity. This entity is not included in the sale; however, the owners are willing to enter into a long-term lease.

Shareholder Objectives

  • The company is equally owned by two shareholders. The shareholders are looking to make a complete exit but are willing to remain for a transitionary period following a sale.

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