Commercial Roofing: Scheduled Maintenance & Planned Reroofing
100% Self-Performing Labor with 95 W2 Employees!
With 95 W2 Employees, this commercial roofing business is able to self-perform 100% of their labor. With $21M already lined up in backlog (committed contracts), they are on target to have the best year ever in 2022, and there is no sign of slowing down in 2023! Their services include reroofing/scheduled replacement (50%), new construction (40%), and general repair & maintenance (10%) and are able to service a wide service area including a 75-mile radius of Pittsburgh. Their client base is made up of 100% commercial clients including consultants, general contractors, private real estate owners, construction managers, and municipalities, 65% of whom are repeat clients. The sale of this business includes $4.2M in assets, including 30+ trucks & trailers, and $2.6M in equipment.
The company is a mixture of union and non-union, with the union side making up 80% of their total sales and 60% of their current projects. Generally, they are the largest employer on a month-to-month basis in the union, they employ an average of 44 roofers and 15 sheet metal workers per day with a fairly even split of new construction vs. renovation, and mostly in the public sector. There are a large number of institutions in the area that require union members to perform their projects. The non-union side is more in the private sector, with 80% of their revenue comprised of new construction. Growth opportunities include going after more maintenance/service work, sheet metal projects, and the recently approved US Infrastructure Bill will also provide growth across the municipal clients they work with.
Priced at $15,900,000, this business is primed for new ownership with already long-standing client relationships in place, an excellent reputation, and a strong word of mouth job pipeline. The owners are looking forward to retiring out of state, but the two active owners are more than happy to stay on board post-close to ensure a smooth transition. Owner 1 (oversight/management, review of estimates) would stay for 1 year, Owner 2 (day to day operations) for 2 years, and Owner 3 (absentee) does not need replacing. They would be willing to retain equity or carry a note for 15%, showing their vested interest in the ongoing success on the company.
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Omaha, NE 68114
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