Looking for a buyer.
This is a rare opportunity to acquire one of the oldest and recognized S. California Underground Utilities Contractors with a huge backlog and pent up demand from its clients. This 70 year old underground, dry utilities firm with some 40 employees has been the “go to” contractor for many of the major developers and contractors in S. California. It always has a strong backlog with more demand from its clients than it has historically been willing to accept. With little or no subcontracting, management can control gross profit margins tightly resulting in annual EBITDA running at significantly higher rates than similar contractors. Organic growth opportunity is strong from just its own clients. But for a new owner, 20+% annual growth for the next few years is easily achievable without the addition of new clients. Further, we (EE) have a similar, but larger wet underground utilities contractor in N. CA that is also available making the combination a 2+2=7 synergy to cover the state and all underground services.
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