Painting & Drywall Company Priced To Sell

Location: United States -> Maryland
Industry: Business Services > Construction

This Painting and Drywall Company for sale has been established over 19 years and attributes 100% of its business to 19 years of quality work, name recognition and repeat customers. It is one of the top ten Painting and drywall companies in the Mid Atlantic Region servicing Maryland, Virginia, West Virginia, Delaware, Pennsylvania and the Washington DC Metro Area. The Company was established to provide production line painting services for large tract new construction of single family homes, town homes and commercial office and retail centers.

The Company has implemented innovated operational changes in quality control, safety, estimating and cost control. The Company is certified trade contractor through NAHB Research Centers prestigious National Housing Quality (NHQ) Certified Trade Contractor program. The NAHB Research Center is a wholly owned subsidiary of the National Association of Home Builders which offers the certification program and provides independent, third-party evaluation of contractors. To achieve certification The Company had to develop, document, implement and maintain a quality management system that enabled it to consistently meet code and regulatory requirements, builder and homeowner specifications.

For 2008 approximately 60% of its revenue is from new construction drywall, 35% from painting and 5% from owner occupied services and is forecasting the same spread for 2009. Approximately 80% of the business comes from single family home builders, 15% from multifamily and 5% from home improvement. The Company is estimating its 2008 sales to be $7 million (10 months actual) and its Owners Discretionary Cash flow $354,000.

This is an asset sale which includes the Company name, trademarks, customer list, furniture fixture and equipment (which owner estimated a market value of $150,000) and inventory of $10,000. Asking price $750,000 and seller will hold a note for a portion of the price and owners transition time to new buyer.

Financials

Asking Price Range: $250K – $500K
Gross Revenues: $7,000,000
Cash Flow: $345,000
Cash Flow Type: Sellers Discretionary Cash
Inventory: $160,000
Seller Financing: Yes

About The Business

Year Established: 1989
Number of Employees: 20 – 34
Relocatable: No
Franchise: No
Current Real Estate: Leased
Property: Property For Lease

About The Sale

Management Training and Support: 30 to 60 days.
Reason For Selling: Focus on other business.