Niche Commercial Electrical Contractor

Skagit County, WA

Asking Price:	$2,150,000
Gross Revenue:	$3,850,000
FF&E:	$500,000

Cash Flow:	$632,208
EBITDA:	$470,733
Established Year:	1988

Listing ID: 2288700Listing provided by BizBuySell

BUSINESS DESCRIPTION

The Company is a full-service electrical contractor with over 30 years of distinguished service, offering a wide range of services for tenant improvements, commercial buildings, multi-family housing, medical facilities, sports lighting, industrial infrastructure, and traffic systems and lighting. The business has a proven track record of delivering complex projects across public and private sectors and is often the sub-contractor of choice among Northwest Washington municipalities for transportation projects.

The business holds several certifications and affiliations, including being a signatory to International Brotherhood of Electrical Workers (IBEW) Labor Union 191 and a member of the National Electrical Contractors Association (NECA). Its certification as a Minority Owned/Disadvantaged Business and registration with the System for Award Management (SAM) open up significant federal contracting opportunities. In addition, the Company's SBA 8(a) certification provides further opportunities for negotiated or set-aside work in Federal facilities, illuminating its path for expansion.

The business provides a wide range of services for transportation projects, commercial facilities work, and industrial/utility infrastructure, positioning itself to capture diverse revenue streams. The growing demand for federal infrastructure projects and transportation upgrades offers significant potential for further growth and has been a focus of the Company in recent years.

The company employs a total of 10 individuals. The management team is led by the owners, a husband and wife who are actively involved in the daily operations, overseeing project estimation, management, and financial tasks. The team also includes a Contract Administrator and an additional Project Manager/Estimator. In the field, there are four Journeyman Electricians, three of which have been with the company for 5 to 15 years, and one Apprentice Electrician. Additionally, there is one person responsible for managing the shop and warehouse operations.

DETAILED INFORMATION

Location

Skagit County, WA

Inventory

Not Included in asking price

Real Estate

Leased

Employees

Furnitures, Fixture & Equipment(FF&E)

Included in Asking Price

Facilities

The Company operates from three leased facilities: Office/Warehouse Space 1,200 sq. ft. office 2,400 sq. ft. warehouse $2,439; Yard Space ~ 13,000 sq. ft. $1,000; Subleased Warehouse ~ 2,000 sq. ft. $1,440. The company’s rolling stock includes 20 service or specialty vehicles including pickups, vans, dump trailer, digger derrick, two bucket trucks, flatbed trucks and trailers. Equipment includes vacuum trailer, asphalt sealant melter, two forklifts, multiple conduit benders, conduit threaders and a host of other specialty equipment.

Competition

From IBISWorld: Electricians have navigated industry changes amid economic fluctuations. Initially, lower interest rates boosted residential construction, but as rates increased in 2022, residential demand slowed. However, commercial construction surged due to federal support from the Infrastructure Investment and Jobs Act and the Inflation Reduction Act. Electricians' revenue has grown at a modest 0.9% CAGR, reaching an estimated $255.4 billion in 2024, despite rising labor and material costs pressuring profit margins.

Growth & Expansion

The business is supported by tailwinds, such as huge demand for data centers, electric vehicle charging infrastructure and the Federal Infrastructure Bill. The latter will dedicate billions to road improvements and provide significant potential for footprint expansion. This combination of experience, reputation, and growth potential makes the Company an attractive acquisition for those looking to enter or expand within the electrical contracting industry.

Support & Training

The owners of the company are committed to ensuring a smooth transition process for new ownership. They will provide full support post-closing to facilitate the transfer and ensure continuity in operations. The exact timeframe for this transition support will be discussed and mutually agreed to with potential buyers.

Reason for Selling

Planned Retirement

Report an Issue with this listing