Concrete Construction Company - Operations in Texas and California
Listing: # 8277
Location: North Texas
|Real Estate Price:||$0|
|Down Payment Required:||$|
|Total Cash Flow:||$0|
Description and Operations
|Reason for Sale:||The owners are divorcing and retiring from the business. Both are in their mid-sixties.|
Reason for Sale:
The owners are divorcing and retiring from the business. Both are in their mid-sixties.
Originally founded in 1976, the company performs poured concrete construction projects at large and small retail outlets in Texas and California. Projects include new and replacement parking lot/driveways, including sidewalks, access roads, ramps, erosion control, earthworks, traffic control plans and barricades, structural/building concrete, retaining walls, dumpster pads, and the demolition and disposal of old concrete; then replacing it. About 75% of revenues relate to parking lot paving, sidewalks, city driveways and other site concrete-related work, whereas 25% of revenues is structural/building. All work is done to client specifications and is performed as a subcontractor to commercial general contractors. One owner, the CEO, is based in Texas. He is almost entirely hands-off and functions mostly as a “grey-haired” resource to the company. The other owner lives in California and is not involved in the company’s operations. There are two responsible, well-performing key employees in place: One is in the field supervising operations and the other is in the office handling bids and supervising business operations. Both are Texas-based and have been with the company 10 and 6 years respectively. Another important, long-term employee lives and works in California, running the operations there in coordination with the Texas operations manager. The company employs solid, experienced, and stable crews in the field. It enjoys consistent, long-term customer relationships. This company has an excellent reputation. Total employees: 24 (19 are based in Texas and 5 in California) [Note: 3 out of 5 in the CA group are in a union, which is typical for the state.] After assisting in the transition of the business to the new owner, the CEO plans to move out of state to be with family but will be available as needed. The owners are willing to finance the purchase of the business for buyers with management experience, good credit, and a sound reputation.