This site prep and excavation business has an impressive team in place of 120+, including 3 SVP’s, 8 superintendents, 1 office manager, 1 administrator/billing, and +/- 110 laborers. This firm has a diverse list of clients, including Municipalities 36%, Government 22%, Schools 23%, and Commercial 19%. Performing Excavation and Site Prep for Highways, School Districts and Municipalities; all client types that will protect this company from a looming recession, as the newly passed infrastructure bill will organically grow this Civil Contracting Firm through the public sector funded by tax payer dollars. Primarily serving Virginia, Kentucky, and West Virginia with their leadership team in Evansville, Indiana outside of the Corporate Headquarters. With a backlog of over $33M, there is no shortage of coming work. A buyer would be getting over $18M in assets with this purchase, including construction & transportation equipment, office equipment & software, and working capital of nearly $5M! A 3rd party appraisal was completed in 2022 to verify the assets.

The current owner offers general oversight (by preference), which is not necessity as owner is 80+ years old. He is willing to stay and transition for 1-2 years after closing. The reason for selling at this time is to retire. Something of note is that the owner could sell the equipment and cash out the A/R for more than the business price, but due to his loyalty and employees in place, he is choosing to sell the business as one cohesive unit so everyone keeps their jobs, and the business can continue to thrive as his legacy.

As a show of good faith and vested interest in the ongoing success of the company, the owner is willing to carry 15% of the purchase price. At a purchase price of $18,500,000, and assets valued at over $18M, the bank loan would be over-collateralized by the assets on hand and the return on investment makes this deal the top in our portfolio!