Expecting to close a reoccurring construction services acquisition before year end. We're fully subscribed on our initial intended equity capital check (+50% of capitalization), but may consider over-equitizing the deal to allow us to be more offensive out of the gates, with the intent to right-size capital structure through future debt-funded acquisitions. Open to bringing on a few additional investors.

Transaction Details: 2.1x LTM EV / EBITDA, ~$4mm of EBITDA. Underwriting 5x MOIC, 35-40% IRR over 5yrs with traditional search economics for a self-funded deal. Min equity check of $200k.