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Description

OFF-MARKET ‘Q3

Connect with Plumbing/Civil Public Works Company
Riverside, CA – (Riverside County)

  • Asking Price: $759,000
  • Cash Flow: $190,000
  • Gross Revenue: $3,300,000
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: $10,000
  • Established: 2010

Business Description

Connect with Plumbing/Civil Public Works Company – Nearly 90, primarily public and federal plumbing and civil projects, including the installation of plumbing and underground wet utilities for no less than 40 schools, 3 libraries, 3 fire stations, 3 airport and aviation projects and numerous military jobs have been successful completed; earning the Company a reputation for being dependable, honest and for working with skilled craftsmen. Regardless of a project’s size, experienced professionals work with primary contractors to plan, design, construct, and maintain project’s piping and plumbing components, and keep all on time and on budget.

The Company’s record of excellence starts with a commitment from the CEO who chooses, directors and mentors each and every employee, no matter their role. Working with Plumbers Union local 364, Operators Union, local 12, and Insulator’s Union local 5, the core team has been chosen for each’s extensive experience and backgrounds, with ongoing training to set them apart. The Company thrives on continuing training, obtaining new certifications and attending seminars to make sure every member of the team is familiar with changing industry standards and innovations.

The Company deals primarily with eight long-time and known suppliers. A list of names and contacts will be available to a Buyer during due diligence. Supplier contracts with are only written to secure special-order items. All other supplies are ordered per the contract and timeline established.

NDA required for release of detailed CIM. ProNova representatives respond timely to all inquiries. We look forward to supporting your business endeavors and being a part of your success.

Detailed Information

  • Inventory: Included in asking price
  • Employees: 25
  • Facilities: 1,600 square-feet of workspace is a combination of office and warehouse space that features three offices, six workstations with good parking and easy access; rents for $1,800 per month.
  • Competition: Being pre-approved to bid on projects; civil, federal and military has provided an advantage over lesser-known competitors and those without the resources to qualify. Additionally, the Company is one of the few MEP contractors qualified to bid on San Diego and Los Angeles Unified School District projects.
  • Growth & Expansion: With its central location, the Company can take on jobs all over Southern California. But being mindful of growth opportunities in Riverside County should provide plentiful projects to bid on up to and beyond 2020.
  • Support & Training: Sellers will provide training for up to eight weeks and for 20 hours per week or as negotiated to ensure a smooth transition.
  • Reason for Selling: Retirement

Sales and Marketing

The Company’s many successes over the years have enabled Pipe Constructors to become a prequalified bidder and are now found on many industry-approved MEP lists. This means contactors send the company invites to bid on upcoming projects rather than the Company seeking and chasing down opportunities.

Prequalification is achieved by filling out a qualification packet for each district and public entity. Business must not have been kicked off any other jobs of this kind, show the ability and means to bond projects and show evidence of previous bonded projects. Packages are also subject to approval of financials, usually sent in coordination with a CPA; being able to show the Company has funds has successfully completed jobs and evidence that you can again. Although there are no costs to submit a prequalification package for review, some applications are quite extensive and it may be more efficient to pay a professional to fill out the information.

Pipe Constructors also worked with numerous general contractors on a multiple project having developed relationships based on the quality of the work provided and their ability to complete projects on time and on budget.

This leaves the Company in the enviable position of having to spend very little money or implement marketing campaigns to bring in new business.

Industry Trends and Market

Thanks to Riverside County voters approving the following bond measures this past November, there are new opportunities that could translate into greater success.

Measure CC; Bond funds will be used for facility upgrades within San Bernardino Community College District.

Measure E; Bond funds will be used to modernize outdated classrooms, restrooms and school facilities; make health, safety, and security improvements; and construct a new barn/agricultural rehabilitation center for the Palo Verde Unified School District

Measure W; Bond funds will be used to construct a high school for the City of Menifee, adding classrooms at high schools serving Perris, Romoland, and Nuevo, and construct classrooms, labs, and facilities for the greater Perris Union High School District.

Measure X; Bond funds will be used to increase classrooms/labs; repair deteriorating plumbing, roofs, electrical systems; and to remove asbestos/lead paint and make other improvements for Hemet Unified School District.

Bright Outlook!

  • The company is currently bidding on projects and attempting to secure contracts through 2020.
  • To ensure that long-range goals are reached the Seller’s recommend that a Buyer actively pursues projects and submits bids on a regular basis.
  • Leasing heavy equipment like backhoes, excavators that are delivered to the job sites can be expensive. A Buyer may look into intermittently purchasing some of the most used equipment to offset lease fees.
  • Emerging technologies should be investigated to see if there are ways to more efficiently clock time, keep workers safe, reduce insurance costs and improve overall efficiency at job sites.

Contact info

Pronova Partners

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