I'm a self-funded operator evaluating a specific heavy civil and utility construction company in a major Western metro, and I'm starting to build relationships with capital partners now, ahead of getting it under contract. Where I am: I've worked through the company's financials and I like it enough to pursue it. My next steps are lender pre-qualification and an LOI. I'd rather know who my potential partners are before the deal is tied up than go scrambling for capital after. Why this space and this company: it holds a specialized municipal large-diameter water transmission qualification that took over a decade to earn and that few regional contractors carry. Its metro just passed the largest infrastructure package in its history, aimed squarely at the pipeline and utility work this company performs. Ten-plus years operating, an established crew, an active bonding line, current signed backlog. How I underwrite: off the through-cycle numbers, not one peak year. This is project-based civil work, revenue swings, and any plan I bring you will be built to absorb a down year. On me: twelve years in the field on pipeline, utility, and heavy civil crews, then fifteen years running operations up to a $480M P&L. I'm acquiring this to run it myself as owner-operator, on the ground. If you back lower-middle-market civil or industrial deals and want to talk before this one is under contract, connect or message me. Once it's under LOI I'll share the full package under NDA.