Seeking capital.
Standard self-funded terms (2x step-up, 1x liquid pref, 10 % pref) - Construction Mgt Business - Owner partially retiring - will stay on 2 years post close to assist in training / managing relationships. The business primarily works with grocers, education, and healthcare. They do un-bonded remodeling work (very little new construction). Projects tend to be shorter term - higher margin. Risks we've identified are 1. Client concentration, 2. Project based work 3. Subcontractor risk. The company has averaged above $1.9M in EBITDA the last 5 years with the exception of 2022 due t0 poor subcontractors ($1.4m ebitda). To mitigate these risks the seller has agreed to carry a 25 % seller note and retain some skin in the game. Also seller has agreed to keep 125 % of the required WC float to create an extra margin of safety. PP is 90 % buyout based off of $8M valuation, $2M seller note, $4.2M in Sr Debt., We are seeking to raise up to $1M. EBITDA is adjusted post new owner comp of $275K ($100k for seller post close, $135k buyer salary, remaining $45k for advisors/etc). I can be DM'd or reached via email --@----.com
industry
Construction
Construction
location
Boston, MA, USA
Boston, MA, USA
revenue
$8,649,011
$8,649,011
ebitda
$1,850,000
$1,850,000
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