Roads and Highway for Public Infrastructure

Business Summary:
Infrastructure development firm focused on roadways,underground utilities and water/sewer projects that haveserved all 5 boroughs of New York over the last 20 years.Though they do not have any sort of certification for MBE,WBE, or 8a etc. this firm has proved a successful track recordworking with various New York City agencies such as theDepartment of Design and Construction, Department ofEnvironmental Protection, School Construction Authority andPort Authority of NY & NJ. They do not currently undertakeprivate work. The business occupies a 25,000 square foot lotwith a 4,000 square foot office space. There are 40-50 fulltime W2 employees, and the field staff are union. The seller isplanning for retirement and has offered a training period of 1-2 years to ensure a smooth handover – he already has 2 VPsin place to take over. In terms of growth opportunities, thisbusiness has the potential to take on larger projects. Theequipment and vehicles included in the purchase price havebeen valued at $2,861,000 during a 2023 appraisal.Priced at $4,395,000, the seller has offered to carry 10% ofthe purchase price in addition to a 10% equity roll in order toshow his vested interest in the continued success of thebusiness moving forward. A down payment of $439,500 willreturn $661,918 in the first year after debt payments! With itsextensive experience in public bid projects and establishedrelationships with various New York City agencies, thecompany can leverage its reputation and expertise to securelarger contracts. Expanding their project portfolio can lead toincreased revenue and further establish their presence in theconstruction industry.