New York City Masonry Construction

Business Description

For sale is a 9-year-old New Jersey-based growing full-service masonry construction company that helps developers, architects, property managers, and general contractors build, restore and renovate their commercial and residential buildings. Their services include facade restoration and preservation, roofing and waterproofing, new construction masonry, sheet metal and ornamental steelwork, curtain wall sealant repair, and garage concrete repairs and coating. In New York, owners of properties with more than six stories must be inspected every five years, resulting in recurring contracts and revenue for the business (NY Local Law 11). This business is a recession-proof business.

They are on an incline of revenue growth and could easily be expanded by hiring new staff to facilitate contract opportunities constantly coming their way. Construction masonry and facade restoration and preservation make up at least 90% of the revenue, with an average of 20-25 recurring contracts ranging from $1-5 million dollars. Clients include building owners, construction managers, and some property management companies.

They have a staff of 52 that make up 4 crews and 9 administrators who the owner is confident will stay with the company post-sale. A new owner can scale the business by taking advantage of the new opportunities and contracts constantly coming their way by hiring more staff to facilitate growth; the company is currently at max capacity for projects.

Financial Overview

Asking Price: $12,500,000

Revenue: $11,325,842 (2022)

Income: $2,100,000 (2022)

Multiple: 6x

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