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33 Year Old Glass and Glazing Contractor

GA

33 Year Old Glass and Glazing Contractor
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Asking Price: N/A

Cash Flow: $1,918,000

Gross Revenue: $10,100,000

EBITDA: $1,918,000

FF&E: $112,000

Inventory: N/A

Real Estate: N/A

Established: 1986

33 Year Old Glass and Glazing Contractor

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Business Description

2019 Contracted Revenue of $10.1 / EBITDA $1.0

Project Glass, founded in 1986, is organized as a “C” Corp, and headquartered in the Southeastern United States. The Company provides turn-key installation for all of its glazing and curtain wall projects. Project Glass has a unique and diverse mix of projects with the majority of their customers who are owners of: Educational Buildings (secondary schools), Government office buildings, and Commercial buildings. The sole shareholder (76) has decided to exit his business to retire and is seeking a Buyer / Investor to continue the Company’s legacy to the next generation of ownership.

Project Glass leases a 3,500 square foot corporate office and a 5,000 square foot warehouse / shop from a related party. The related party would sell the real estate or enter a long-term lease. Currently, Project Glass has approximately 25 employees with average employee tenure of 10+ years. The senior management team, who will continue to operate the Company’s post-acquisition, has a combined total of 42-years of tenure with Project Glass.

Currently, Project Glass contractual backlog is approximately $10.1 million with another $9.0 million in projects that are being negotiated. Management is very confident that these projects will be successfully negotiated before the end of 2019. Project Glass is projecting revenue / EBITDA in 2019 and 2020 of $10.1 million / $1.9 million, and $11.9 million / $2.25 respectively.

Project Glass’ Competitive Advantages:

-Is a leading and experienced minority Commercial Glass and Glazing Company in their market area;
-has an established a reputation for providing high quality, competitively priced projects, and on-time services with general contractors that can be transferred to a new owner;
-has solid relationships with several billion-dollar contractors;
-differentiates itself from its competitors by getting it right the first time;
-has low overhead cost and efficient operations that allows Project Glass to compete with competitors while maintaining higher margins;

Detailed Information

Real Estate:
Owned
Building SF:
8,500
Employees:
30
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Corporate Office: 3,500 square feet Wherehouse: 5,000 Square feet 5- Acres
Competition:
Company is an MBE and is certified in 5 southern states
Growth & Expansion:
Backlog a total of $21.0 million that will be executed over 2019 and 20120
Financing:
If SBA Financed
Support & Training:
Management Team will remain, but owner will transition business over 90-days
Reason for Selling:
Owner is 76, and is retiring
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(from currently available funds)
 
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Michael Togneri

Business Listed By:
Michael Togneri

Neri Capital Partners

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