Parks, Roads Infrastructure with 62 million in Backlog

Business Summary:
This Civil based Infrastructure business performs Site Prep forParks, Roads and School Districts with a focus in paving. Theirrepeat client base includes the DOT, Department of Parks & Recand the Port Authorities. The proof is in the performance with thisNYC business as they have never defaulted on a project in their43-year history. This business currently has over $62M inbacklog – the highest they have ever had! The assets are valuedover 4 million, which include $2,350,000 in heavy equipment,$1.3 million in vehicles and they will leave $500,000 in WorkingCapital! This makes the loan over-collateralized plus there is abank loan already pre-approved for a qualified buyer! The teamconsists of 20 core people, there is no shortage of trainedprofessionals at hand, including office staff, project managers,and foremen plus 30-50 union laborers. The owner currentlyworks about 25 hours a week and will provide transition for 2-3years. The owner is ready to retire but has a vested interest inthe continuing success of this business, to show good faith he iswilling to finance and/or hold a 30% Equity Roll. The businessutilizes a 12,000 sq. ft. building which includes an office, shop,machines, storage with 8,000 sq. ft. of unused space that couldbe used for expansion!Priced at $5,100,000, this business is primed and ready for anew owner to step in and enjoy a backlog that has surpassedtheir all time high. Their work falls under the municipal umbrella:meaning if there should be a recession, their workflow will not beimpacted. In fact, due to the recently passed US InfrastructureBill, this business will grow significantly as $66 Billion dollars hasbeen set aside for public transportation infrastructure work. Anew owner could add plumbing, precast, fencing andhardscaping to the list of services as these are all growthopportunities. A buyer must qualify for a Minority, Woman orVeteran designation to own majority of this business