Description

Very profitable commercial piping contractor. Non-union, lots of well-established relationships with general contractors, architects and other referral sources. Owner Retiring after achieving a remarkable turnaround by closing an unprofitable division, downsizing overhead, re-staffing with more effective employees, expanding staff to compete more effectively and forming relationships with stronger general contractors to get better projects. Gross margin improved from 30% to 48% and earnings increased from ~ $250K to over $1.4 MM annual running rate in 2016. Owner has modest price expectations and will carry a note for part of the purchase price, depending on the total offering structure.

Posted Jul 22, 2016

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