Highly Profitable Roofing Business – Price reduced

Contact: Tim Carter
Phone: 616-560-1080
Email: [email protected]
Your Reference ID: TC1061517

Description:

This outstanding 60 year old Michigan business has established a reputation for excellent service and quality – the cornerstones for success in the roofing and siding industries.  As the current owner approaches retirement he has decided to proactively seek the successor owner for his business. The seller is willing to stay on for a negotiated transition period.

The company, located in a desirable mid-Michigan community, is a fully licensed roofing contractor serving the residential market. The company employees 8 people (6 fulltime in the field and 2 part timers fielding incoming calls from their homes). The business leases an 1800 square foot storage warehouse for $560 per month (less than 1.0% of revenues), but maintains no corporate office.

Annual revenues for the company have been consistently just under $1,000,000 for the last few years. Sellers Discretionary Earnings (the cash flow available to pay an owner-operator and service debt) has averaged an attractive $175,000 SDE over the last three years.

The listing price for the business of $395,000 is an aggressive 2.25x multiple of SDE. An asset sale is contemplated which includes all fixed assets and inventory (with a combined value in place of $30,000). The sellers will retain cash and A/R while retiring all liabilities. A meaningful seller note will be available for qualified buyers.

For more information on this attractive business opportunity, please contact Tim Carter at tcarter@praxisbusinessbrokers.com or directly at (616) 560-1080.

Location(s): Mid Michigan

Asking Price: $395,000
Cash Flow: $175,000
Gross: $900,000

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