Current
Engagements

$9.5MM Rev, $2MM EBITDA Food and Beverage Process Equipment Integrator

• Revenue:$9,500,000
• Cash Flow:$2,000,000
• Location:East U.S.

“Crystal” represents an exceptional opportunity to own a leader in the food and beverage process equipment engineering, fabrication and installation space.  With an installed base of more than 400 food or beverage processing facilities, the Company gets consistent repeat business from customers, with new opportunities coming from referrals. The Company designs and builds systems for batching, storage, water treatment, clean-in-place, and other sanitary processes or food manufacturing processes. It also distributes replacement parts for maintenance and repair of process systems. 

 

As a turnkey solutions provider, Crystal earns repeat business by providing high-quality solutions and seamless installation. A typical year includes installs in ±150 unique processing facilities.  As noted, with an installed base of 400+ factories, they are regularly upgrading or updating equipment, parts, lines or expansion initiatives.  More than 70% of annual revenues come from customers trusting Crystal for their needs for 10-25+ years.

 

With ever-changing consumer tastes and increased requirements for food safety, Crystal’s owners find themselves turning down more work each year as existing and new customers seek more of their services. Buyers willing to roll-up their sleeves and invest in additional staffing will achieve significant growth by accepting work they turn away today. 

Crystal’s owners desire working another 6-8 years.  Ideally, a strong strategic buyer with additional people and resources will provide them the opportunity to retain some equity going forward. The best buyers bring relevant industry knowledge and resources to support continued growth.

Facilities

Market Outlook / Competition

$2.45MM REV / $900k ODCF Logging Company

• Revenue:2,485,000
• Cash Flow:920,300
• Location:Southeast U.S.

Woodchuck is a ±$900k ODCF logging company located in a timber-rich region of the Southeastern U.S. generating steady and reliable cash flow from long-term relationships with its customers, the mills. The Company has coveted “dealerships” in place with all major local mills, making Woodchuck a premier supplier and limiting competition. Woodchuck collects payments weekly from customers via direct deposit.  The Company has a reliable crew, and most employees have been with Woodchuck for 5-20+ years. 

The Company has been run as a lifestyle business for several decades by the founder/seller, who desires to pursue land brokerage opportunities rather than daily operations of the logging business.  Woodchuck is well positioned for growth with unlimited potential to increase capacity by the addition of more crews and the opportunity to capitalize on more of the 2+ million acres of forestland in its immediate service area. 2019 projections show continued consistent cash flow ($2.5MM revenue, $900k+ of ODCF) and historical performance is strong ($2.2M 2016 and 2017 revenue, ±$730k ODCF 2016 and 2017). The Company maintains current equipment and spends $200-225k annually in capex. Limited competition exists as dealerships with mills are hard to secure, and the market is ripe for continued growth.

Facilities

The Company keeps the equipment at an empty lot owned by the seller. A new buyer will need to find their own empty lot for the equipment when it is not on location at a site.  

Market Outlook / Competition

Opportunities exist to expand production within Woodchuck’s current geographic footprint as timber demand continues to rise in the state and region. In addition, adding more crews to Woodchuck’s workforce will quickly increase capacity and allow for production outside of the Company’s immediate service area.  Additionally, the Company can leverage their dealerships by getting commission from other logging companies for access to their dealerships. Woodchuck can also grow by subcontracting more work, pursuing multi-year contracts and emphasizing a strategic focus on high-volume tracts of land to elicit higher revenue streams.    

Woodchuck competes locally with a few other wood dealers and logging companies that cut in slightly different timber areas.  Woodchuck outperforms its wood dealer competitors by eliminating the middle-man through dealerships and getting the job done with new equipment and efficient and reliable crews.

$15MM Rev/$3MM EBITDA Specialty Motor Manufacturer

• Revenue:$15,000,000
• Cash Flow:$3,000,000
• Inventory:$2,600,000
• FF&E:$3,800,000
• Asking Price:Offers
• Location:U.S.

“GOLIATH” is a specialty motor manufacturer and service center for large electric motors used in demanding applications including aggregate, power & energy, infrastructure and marine end markets. The Company is ISO 9001:2015 certified and produces proprietary AC and DC motors up to 20,000 HP. Additionally, a motor repair division supports field service work, complex repairs, testing and complete rebuilds.

As a turnkey solutions provider, Goliath enjoys a very sticky customer base w/ several large accounts supported by multi-year contracts. In a given year, approx. 200-300 customers are served with no single account generating more than 15% of sales. Approx. $40M of awarded contracts are in hand today for motor replacement and repairs.

In recent years, significant investments were made in the Company’s infrastructure including adding 30,000 s.f. to their facilities to support larger opportunities and enhanced capabilities. As a result, Goliath is experiencing strong YoY growth and will approach $15M in sales this year with projections targeting $20M in 2020 based on contracts in hand.

The seller is seeking a full liquidity event to support retirement and position the business for continued growth. A strong management team (including a President) is in place today to support the on-going operation. The ideal buyer will have relevant industry knowledge and resources required to support continued growth.

Facilities

The Company operates out of 60,000 s.f.  The Company invested in facility upgrades in recent years to drive continued growth.  (Real estate is not included in the transaction.)

Market Outlook / Competition

The Company competes in two distinct markets - custom motor manufacturing and motor repair services.  With an excellent track record, customers trust Goliath to provide exceptional, turnkey engineered solutions that meet their needs.  Their ability to solve challenging customer problems differentiates themselves from others in their industry.

$5.2MM Rev / $750k EBITDA Window Cleaning & Building Services

• Revenue:$5,200,000
• Cash Flow:$750,000
• Location:U.S.

Clean Glass has been providing a variety of building services to a recurring commercial customer base in a major U.S. city for over 40 years. With steady, reliable cash flow and loyal customers, this business is primed for growth with a new owner who wants to capitalize on the significant amount of window cleaning services already provided to its large customer base. Clean Glass also offers sweeping, snow removal and caulking services for commercial parking lots, sidewalks and top decks of major corporate parks. The Company is currently tracking $5.2MM of revenue and $750k of EBITDA ($3.6MM / $457k EBITDA YTD August).

Two inactive shareholders have other companies that take their focus and time. A long-time general manager runs the day-to-day operations with little ownership oversight or involvement. Supervisors are in place to oversee window cleaning, snow removal, administrative duties and mechanics.

Facilities

The Company operates out of facilities in one of the 50 largest U.S. cities. 

Market Outlook / Competition

Clean Glass has generated $5M+ revenue consistently for the past decade. Opportunities for future growth lie in cross-selling ancillary services and the addition of outside support. An experienced buyer will benefit from the sticky customer relationships already in place.

The Company has long-standing relationships with a reliable customer base and controls about 80% of the local market. With approx. 800 customers a year, and 4,600+ invoices annually, there is no customer concentration. The top 20 customers in 2018 were 21% of total annual sales.

 

$6MM Rev/$1.5MM EBITDA Water & Sewer Rehabilitation Services

• Revenue:$6,000,000
• Cash Flow:$1,500,000
• FF&E:$600,000
• Asking Price:Offers
• Location:Southeast

From the ashes, “PHOENIX” brings new life to our nation’s underground utility infrastructure. The Company provides inspections, maintenance and trenchless rehabilitation to water and sewer systems across the Southeast. Local municipalities benefit from PHOENIX’s domain expertise and quality, on-time work.

The Company benefits from the growing water and sewer rehab market as our aging infrastructure exceeds its useful life in many locales. Since inception, PHOENIX installed over 1.5M linear feet of lined pipe and meets experiential requisites necessary to perform large, complex jobs. PHOENIX is a prime contractor to local government agencies and equipped to self-perform most of their work.

This year, PHOENIX projects $6M in revenue and $1.5M of EBITDA with a healthy backlog for 2019. The Company is led by a strong President and supported by a team of project managers and skilled laborers. New ownership will experience growth by adding crews and expanding service offerings in complementary areas.

An inactive/retired senior shareholder desires a liquidity event in the near term. The younger president/shareholder runs the day-to-day and will remain post-close. An ideal buyer brings relevant municipal contracting experience and/or a background in utility services to support continued growth.

Facilities

The Company leases ±8,000 s.f. of office & warehouse space on 1.2 acres from a separate entity owned by the Shareholder. The home office houses three employees and standby equipment which can be relocated or absorbed by a strategic acquirer. Most of the rolling stock is secured on-site at customer job sites. The team is comfortable working remotely given their coverage area and nomadic nature of work. The Seller is open to either a sale or lease of the real estate as needed.

Market Outlook / Competition

Water and sewer rehab is a $13B market expected to grow to $15B by 2022. Growth is driven by the demand to modernize the US’ aging infrastructure per EPA mandates. Congress recently passed a water infrastructure bill that injects an additional $6B of federal stimulus to expedite water & sewer distribution networks. Competition is fragmented on a regional basis, however; a handful of national players compete in most markets where larger contracts are bid. PHOENIX is positioned to compete against both large and small firms and drives value through execution and customer satisfaction.

$12MM Rev/$2+MM EBITDA Site Development & Utility Infrastructure Installation Co.

• Revenue:$12,000,000
• Cash Flow:$2,000,000+
• FF&E:$1,500,000
• Asking Price:Offers
• Real Estate Available:Yes
• Location:Southeast

Project GOLDMINE provides site development and utility infrastructure installation services to commercial developers, municipalities and utility providers in a major Southeast metro area. GOLDMINE excels at solving complex logistical problems  in dense urban areas needing development and infrastructure installation or repair. The Company offers customers a diverse, turnkey set of services including pipe and utility installation, erosion control, curb and gutter, grading, detention, and storm water systems. GOLDMINE self-performs most of its work and provides customers with a single source for all their infrastructure and site requirements.

A long-tenured, experienced management team leads GOLDMINE today and delivers consistent profitability. Many executives bring more than 20 years experience.   The Company currently has more than $13MM of contracted backlog (June 2019).  Historically, the Company has generated $1.2-$1.5MM of EBITDA, however this year they are running above that.  

The founders are at retirement age and seek the right buyer to benefit from the strong management team and consistent customers. The ideal buyer brings relevant site development and/or utility installation experience to support continued growth.  Customers include utility companies, large developers, municipalities and other government agencies.

Facilities

GOLDMINE operates from an attractive ±4,500 s.f. brick office building and separate equipment shop located in an industrial park. The real estate is owned by the shareholders of Seller and available.

Market Outlook / Competition

Increasing urban population density and aging domestic utility infrastructure offer strong industry tailwinds for GOLDMINE. As the metro market the Company operates in grows, so does the need for GOLDMINE’s turnkey, urban site development services. Likewise, municipalities increasingly repair, replace, and upgrade existing water and electric infrastructure to support this growth. Typically, the Company is invited to a private, highly qualified bidders' process that includes only 2-3 local competitors.  Again the work includes more complex, higher margin, specialized projects, GOLDMINE is well-positioned to capitalize on these opportunities given the company's relationship with higher-end, well capitalized commercial developers, municipalities and utility customers.

$13MM Rev, $2.9MM EBITDA Landscape Platform

• Revenue:$12,967,897
• Cash Flow:$2,836,625
• Inventory:-
• FF&E:$1,485,000
• Asking Price:Offers
• Real Estate Available:Lease
• Location:Southeast U.S.

"GreenPro" represents a special opportunity to partner with an exceptional outsourced landscaping, planning and maintenance executive team.  They seek a financial partner or strategic buyer who supports taking what they’ve built and growing it aggressively in the Southeast through acquisition and “greenfield” initiatives.  Management excels at analyzing and sharing Company job data with field supervisors so they can better manage existing work and more profitably select and price future jobs.  By offering many services, Greenpro customers limit their supplier base and get excellent landscape outcomes.  Division leaders know how they are doing and develop plans to get back on track if any division isn't hitting its numbers.

Greenpro is not good for search funds looking to take over and run the company.  The owner expects to stay and run it the next 5-7 years.  Greenpro is an excellent opportunity for funded private equity groups who excel at roll-up strategies and supporting management as they grow and improve their companies.  The owner is a bright, high-quality manager and you’ll want him as your partner.

The seller will roll proceeds that equate to a future 20-30% equity position in the recapitalized company going forward.  The seller prefers that Greenpro is the platform, but will review strategic acquisition opportunities where he can also retain or roll some equity going forward. He seeks an active operating partner who will roll up their sleeves and support acquisitions, and he desires to enhance technology to help the company continue to lower costs and increase margins. 

Facilities

The Company leases its facilities from an unrelated third party.  They have sufficient space to grow in their existing market and would look to acquire firms to integrate into their current facilities, as well as acquire operators in new markets with a similar facility profile.

Market Outlook / Competition

The Company boasts exceptional annual growth both organically and through acquisition since inception.  They predict continued conservative organic growth of 10-12% for the next three years, with additional larger increases some years due to acquisitions. They deliver a unique value proposition to commercial customers, home owners and new home developers.  Each customer type requires a different value proposition and the Company is exceptional at responding to needs that competitors fail to see.  

The commercial, residential and new-install landscaping market is highly fragmented with players offering all kinds of value propositions:  Low cost, high service, multi-service, single service, design-build, etc.  Greenpro competes against 4-6 high-end service providers, each with their own unique selling premise.  The Company’s consistent growth and future prospects validate their ability to win their fair share of business from competitors.

$28.5MM Rev/$2.8MM EBITDA Environmental Services Growth Recap

• Revenue:$28,500,000
• Cash Flow:$2,800,000
• Location:Midwest

EnviroFam represents a professionally operated “family” style diversified environmental and industrial services company.  New financial partners will be pleasantly surprised by the professional accounting, safety and operations systems developed and used by the company.  These systems are consistent with what you’d find from a public company versus a typical family-owned business. The sole owner seeks a partner who can bring past investment experience in industrial service and environmental service companies and who appreciates the company’s unique culture.  The owner wants to provide long-time senior managers with equity participation in the recap.

Services include traditional 2-men-and-a vac-truck $1500-$2500 jobs, industrial cleaning, hydro-blasting, steam cleaning, transportation, remediation, midstream and upstream services, asbestos abatement, underground utility cleaning and inspection and other services.

This is a nice business with a talented management team.  New partners should have relevant experience in the areas outlined above.  Facilities and equipment are up-to-date and in excellent condition.  Projections for 2019 are $34M of revenues and $3.6M of EBITDA.  2019 Q1 YTD EBITDA is approx. $200k ahead of 2018 Q1.

Ideal partners will bring a hold period in excess of 5 years.  The growth plan includes regional acquisitions and organic initiatives.  The company has a significant backlog of contracted work today.

Facilities

The Company provides services in the Midwest, Southeast and Southwest.  Facilities are leased by a related entity.

Market Outlook / Competition

$3.5MM - $4MM EBITDA Precision Machining Operations

• Revenue:$12,500,000
• Cash Flow:$3,500,000
• Inventory:$750,000
• FF&E:$600,000
• Asking Price:Offers
• Real Estate Available:Yes
• Location:Southeast

Mach-Z represents a unique opportunity to acquire a multi-location precision machining operation with excellent management, quality operations, diverse capabilities, lean manufacturing and high margin customers.

The operation continues to enjoy slow, steady growth.  Managers are accountable for their location's P&L and the owners have regularly invested in the manager’s professional growth and development, while also providing the resources needed to deliver quality results and high productivity.

This year, the Company projects $14MM revenue and $4MM EBITDA, while TTM performance is $12.5MM revenue and $3.5MM EBITDA.

Mach-Z enjoys a quality asset base and exceptional financial performance.  They will be an excellent platform for an experienced financial buyer or will “plug and play” nicely into a strategic buyer looking to add precision machining capabilities in the Southeast.  Each facility has room for expansion and runs one shift.  Managers have employment agreements in place and expect to remain with the Company post-closing.  Should a financial sponsor seek a senior executive to oversee the group of operations, the seller is a family office with an executive who interfaces with these companies, as well as, other companies in their portfolio.  He is open to coming on board as the CEO to lead the future growth plan, if desired.

Facilities

Revenue is generated from multiple facilities that comprise ±73,000 s.f. collectively.  The facilities are owned by the majority shareholder in a separate LLC and are available for purchase.  The Company will also enter into long-term, market lease with prospective buyers.

Market Outlook / Competition

The precision machining business is highly fragmented with thousands of mom & pop operators making up the majority of the market.  Mach-Z represents an excellent execution of acquiring smaller mom and pop operations, adding professional management and systems and improving the financial results and through-put.  This operating group of machining and fabrication operations represent an excellent platform from which to acquire and integrate other operations and customers.

$5MM Rev/$1MM EBITDA Wire & Cable Manufacturer

• Revenue:$5,000,000
• Cash Flow:$1,000,000
• Inventory:$500,000
• Location:Southeast

“VOLTRON” is a well-established wire & cable manufacturing operation serving OEMs across the Southeast US. The Company is ISO 9001:2015 certified and excels at complex assemblies and box builds used in power, industrial and medical end markets. VOLTRON enjoys long-standing relationships with marquee customers and is recognized for their exceptional quality, custom manufacturing solutions and on-time deliveries for either prototyping or production volumes.

The Company is lead by an exceptional management team including a strong President, offering a unique plug-and-play opportunity for strategic acquirers. VOLTRON enjoys steady financial performance and projects $5M+ revenues with EBITDA approaching $1M in 2019, up approximately 10% YoY. Growth is attributed to new client acquisitions and additional wallet share from existing customers. There is zero debt on the business today.

The Seller is approaching retirement and less active in the daily operations today. His objective is to identify an experienced buyer group that shares similar values centered around quality and integrity. The ideal buyer brings relevant contract manufacturing/EMS experience to the table and can support a succession event in the near term.

Facilities

A 15,000 s.f. facility is leased from an unrelated 3rd party and equipped with modernized equipment including fully automated, high speed wire processing machines and testing laboratory.

 

Market Outlook / Competition