Engineering business for sale in Rancho Cucamonga, California
What the business does
EagleLIFT, Inc. is a California S Corporation, General Engineering (A) contracting company primarily engaged in providing civil/geotechnical engineering services in the areas of foundation repair, soil stabilization and lifting for Industrial, Commercial, Residential and Public Works sectors in California, Arizona and Nevada. The company is a specialized engineering contractor using state of the art geopolymers and resistance and helical piers to lift and stabilize concrete and asphalt structures. The majority of our Public Workings contracts are with the Departments of Transportation (DOTs) in CA, AZ and NV. Some of our major contracts deal with major International airports (Infrastructure repairs), railroads and Ports (seawall repair).
Why the business is an attractive proposition to a buyer
EagleLIFT has been developing the specialized geopolymer repair business in California, Arizona and Nevada since July 1995. The 3-state area covers 388,254 square miles or 10.2% of the total territory of the 51 states; has 624,323 miles of paved roadways or 7.2% of the total US roadways; has 15% of the nation's population; 11 ports spanning 1000 miles of California coastline, 12 major airports, significant railroad mileage and more.
EagleLIFT has developed a large database of satisfied customers in the aforementioned territory and continues to expand at an average of 25% per year. We have a strong organizational structure in place with talented individuals to manage it. EagleLIFT has the Operational capability, experience and management talent to manage the sales and production for the entire West Coast.
EagleLIFT is also diversified in the products and services offered compared to other similar businesses. In addition to the Polymer business, it also offers other foundation repair services in the Resistance and Helical Piering business. All three of these business' compliment one another and maintain a solid backlog of business.
EagleLIFT can train and manage other businesses in the lucrative business.
Finally, EagleLIFT has and will continue to expand its business. Over the past two years, our focus has been on consolidating resources, increasing the operational side investment and streamlining management. Our four operational crews are equipped with the the latest equipment and this allows our production to go beyond the $10MM EagleLIFT installation capacity and the $5MM subcontractor work. We have a strong, growing operational capacity.
This offer is non-binding. I am asking for 75% of $7,500,000 at close with the remaining 25% paid over 36 months with 6% interest applied to the outstanding balance.
Key financial facts and forecast
Key financial facts of the business have been provided in the financial reports you requested. We have conservatively used a 16% growth rate for this forecast and we are very comfortable that we can support that trend.
EagleLIFT has continued to improve its gross profit percentage (35% compared to 28.9% in 2014) with maintaining overhead and selling costs at 24% of revenues earned. These improvements have increased net income to 9.6% of revenues earned.
Reason for selling
The owner has a passion for this business and it shows in the personnel and the success of the business. The reason for selling EagleLIFT is because it's time for him to retire. In his very diverse career, he's always left every job better than he found it and this is no exception. As the founder of EagleLIFT, he and his Team have grown it into a great company. He's been in the job market for many years and now he wants to concentrate on what really matters, i.e., family and enjoying more of this beautiful world.
Required buyer qualifications
The buyer should be a seasoned contractor with the financial backing required to assume the obligation. The perfect buyer will probably service the same customers as EagleLIFT; however, in other aspects of construction. The buyer will need to hire the owner as a consultant for a (TBD) period in order to assure a smooth transition into this specialized business. The buyer should buy the whole Team EagleLIFT package until such time that he/she is an experienced Team member.
Download Sales Memorandum
Last update: 12/15/2016 6:22:44 AM
Rancho Cucamonga, California, US