New Deal - Project Glass - $15MM Revenue; $5.6MM Adj EBITDA. Acquisition Fi

RKJ Partners (“RKJ”) has been engaged to assist our client, Avaltos Glazing Systems, LLC (“AVALTOS”), in the acquisition of Project Glass (or the “Company”). Founded in 1977 and headquartered in Tampa, Florida, Project Glass is a family-owned commercial glass and glazing company. The Company provides high quality glass and glazing services to a regional cadre of customers. The Company operates out of two locations in the Tampa area and employs 36 people. The Company specializes in the installation of storefront and curtain wall glass systems and interior heavy glass partitions and doors. They provide these services throughout the state of Florida and Southern Georgia, with projects up to three stories. In addition, the Company has a diverse range of market segments, which include restaurants, retail, storage units, carwashes, multi-family residential and office buildings, to name a few. For the twelve-month period ending July 31, 2024, the Company produced LTM revenue and adjusted EBITDA of approximately $15.2MM and $5.6MM, respectively. The deal is structured as an all-cash deal. AVALTOS is able to contribute $3MM in new equity. The business can be described as asset-light. Therefore, we believe a cash flow loan is the likely source of capital for this transaction. The total capital required to close this transaction is approximately $13.5MM (includes estimates for transaction fees). At closing, the total funded leverage is approximately 2.4x. Note: AVALTOS would be open to a capital injection that included equity as well as debt capital. For your review, I have included a brief teaser summarizing the opportunity. After your review of the teaser, please let me know if you would be interested in receiving the NDA and access to the data room.