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US Leading Finish Carpentry Business

United States
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    US Leading Finish Carpentry Business

    Asking Price:

    $3,750,000

    Gross Revenue

    TBA

    EBITDA

    TBA

    Property ID:

    L#20210224

    Country

    United States

    State:

    United States

    Description

    Well established and respected Company that specializes in all aspects of finished carpentry products and services working primarily with large homebuilders of single-family homes and contractors of multi-family projects. The Company delivers projects in all aspects of finishing required for single family and multi-family residential dwellings such as interior and exterior doors, door frames, base boards, crown molding, hardware, built-in closets, fireplace mantles, etc. The Company’s revenue is well diversified across multiple large homebuilding clients.

    The Company has many opportunities to expand its product and service offerings to its existing client base, using the same skill sets that it already uses to perform its core services. There is ample opportunity for the Company to expand into providing more finished carpentry services to its core client base, including: windows, overhead garage doors, and storefront windows & doors.

    Even though projects and revenues have been delayed in 2020 and 2021 YTD due to Covid, the Company expects a rebound at the end of 2021 and into 2022 based on revenue already under contract with large home builders of single family and multi-family residences. Pre-Covid Revenues were at 23.9MM in 2019 and 19.8MM in 2018, reflecting strong penetration into key accounts that will continue to drive future growth.

    The services provided by the Company are in high demand by many of the largest homebuilders and multi-family developers active in the greater Southern CA area, which is one of the fastest growing economic regions in the Western U.S.

    According to the FirstTuesdayJournal, after 18 months of decline, single family residential (SFR) starts turned positive at 31% above one year earlier in the six-month phase ending June 2021. During those same six months, multi-family construction starts also reversed course, up 26% from a year earlier.

    The Business operates out of a 25,295 SF Building (owned by the Sellers that is also available for sale), utilizing a subsection of the building that includes a 9,972 SF warehouse and 3,491 SF office space. The Business has 62 employees, of which more than 26 are in the field and also has a well experienced and established management team led by the General Manager, who had held the position for more than 3 years.

    The Company is managed by an experienced General Manager and management team with well-defined roles and job responsibilities. The current Owners have a lesser role in the day-to-day operation of the business. The Company has an A++ list of Corporate clients: Multiple national homebuilders and multi-family developers who are active in the region, and it ranks extremely high among its peers in performance and competence.

    It operates in the lucrative Southern CA area, where according to IBISWorld, the Residential Building Construction industry in California has experienced an upward trend with Industry revenue increased at an annualized 7.0% to $64.2 billion over the five years to 2020, 4.3% in 2020 alone. Industry profit has rapidly grown in line with revenue growth. Also, according to IBISWorld, the Carpenters industry depends heavily on demand from building construction activity; thus, industry performance is largely tied to cyclical fluctuations in downstream residential and nonresidential construction markets.

    Detail

    Updated on December 22, 2021 at 11:19 am

    Property ID:L#20210224
    Property Type:Construction Company
    Property Status:For Sale
    Asking Price: $3,750,000
    Gross Revenue:TBA
    EBITDA:TBA
    Reason for Selling:Retirement
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