MergerPlace

Marine Construction

Massachusetts


  • Asking Price: $1,480,000
  • Gross Income: $2,030,933
  • Cash Flow: $387,881
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: $790,336
  • Listing ID: #213381
  • Established: 1999
  • Employees: 15 FT

Business Description

Established 20 years, Marine Construction company fabricates and installs private residential and commercial docks, piers, pilings, bulkheads, moorings and associated hardscape. Additionally it removes and stores, services and replaces floating docks seasonally. Capabilities include pile driving, helical anchors, carpentry, machine shop metal fabricating, mechanical repair, design and materials consulting. It maintains a fleet of work barges and boom equipment as well as serious heavy equipment and vehicles necessary to perform the work. Employs 15 persons. Three year revenue average $1,820,000. Revenue 2018, $2,031,000. Equivalent contracts-value in the pipeline for 2019 revenue projection.


Business Details

Primary Business Category: Construction - Building, Developing
Location: Massachusetts

Company Information

Year Established: 1999
Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 15 FT

Financial Information

Asking Price: $1,480,000
Gross Revenue: $2,030,933
Cash Flow: $387,881
FF&E: $790,336
Seller Financing Available: No

Property Information

Facilities:

Seller owned 2000 sf materials fabrication shop and office on 1 acre yard for equipment and materials storage. Owner will offer reasonable rent terms and consideration may be given to selling the property.

Growth & expansion opportunities:

The business is one a just a few trying to meet demand in this space. It would benefit from updating office technology for project management i.e. estimating, project flow and billing. Substantial economies of scale could be achieved from an acquisition by an existing engineering firm. Currently the required engineering reviews are referred outside the company. Completing the loop in house could significantly improve profitability.

Competition:

Superior company reputation in the area. Continuous demand for services is driven by weather, materials depletion, project upgrades, homeowner turnover and new construction. There are other companies active in the space but there is more than enough work to sustain all. Consistent full pipeline of projects year after year.

Reason for selling:

Retirement.

Support & Training:

Will train for 8 weeks @ $0 cost. Owner will remain available to transition the business and share his knowledge as necessary. A longer term consulting arrangement is possible. Additionally an 11 year tenured General Manager with in depth knowledge of scoping projects, bidding, pricing, work flow managing and customer relations is in place and wishes to remain with the company. Two field crew chiefs and ten skilled workers are currently in place. The office maintains a library of former projects with details of permits, soil conditions, materials used and special conditions. This fosters return contracts.

Contact Business Seller

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Business Listed By:

John Dirkmaat

Murphy Business Brokers