Description of the business for sale
The Company was founded as a C Corporation by the owner and a former partner in 1985 (converted to S Corp), with the partner having been bought out in 1999. Headquartered 30 miles outside of Charlotte, NC, the Company derives 100% of its revenues through commercial and industrial electrical contracting services, and since the mid-1990’s, has carved a very profitable niche in so-called “big-box” jobs, where they have developed preferential relationships with General Contractors (GC’s) who build and remodel stores for national chains such as Lowe’s, Target, Home Depot, CVS and more. To a lesser extent the Company performs electrical installations for large department stores, grocery stores, shopping centers and industrial plants. Typically the Company works on eight to twelve projects each year which range in value from $350,000 to $850,000. Work crews averaging four to six people typically spend three to six months on a project. Recently the Company added two new crews expanding their capability to work on six to seven projects simultaneously.
GC’s typically are retained by their customer on a cost-plus basis, and while the GC’s award electrical contracts on a bid basis, they are very sensitive to the reputation of the electrical contractor for quality, reliability, stability and dependability. For this reason, the subset of GC’s that specialize in many ways serving the “big box” market will in turn look to electrical contractors that they know and trust. The benefit to our client Company is that they enjoy excellent margins, a strong backlog of work, and the enviable (but growth limiting) position of bidding on only a fraction of the jobs for which they are invited to do so.
The explosion of “big box” construction over the last ten years continues, with major players having announced additional expansion of thousands of stores, with a significant portion focusing on the ever-expanding Southeast market. Further, many of these retailers have a program
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Description of the facilities
Furniture, fixtures, and equipment = 583677
Furniture, fixtures, and equipment included: Y
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