This non-union, long-standing commercial excavating company located in Michigan provides services including clearing, earthwork, excavation, storm sewers, concrete preparation, and other site preparation work to a range of diversified industries. The Company specializes in large-scale, complex projects, completing an average of 10-20 large jobs annually, accounting for roughly 80% of its revenue. The remaining 20% is supplemented by smaller-scale commercial jobs. Collaborating closely with local general contractors, approximately 80% of its projects are negotiated rather than publicly bid. The Company works within the hospitality, retail, residential housing complex, office, municipal, and industrial industries.
With a $4.3M backlog and $32.5M in outstanding bids and budgets as of July 2024, the Company is well positioned for continued success. Located in a growing region, it has the potential to engage in significant new development projects occurring in the area. Further growth could be achieved by capitalizing on its significant equipment base and increasing its labor force, taking on additional service offerings, or beginning to expand its geographic reach into new areas of the state.
Focused on large-scale, complex site preparation projects, the Company equips its crews with top-of-the-line machinery and advanced technology to ensure projects are completed to a high degree of accuracy at an efficient pace. The commercial excavating company complements its high-end equipment with leading-edge GPS technology which allows it to map out its jobs quickly and accurately. In a commoditized industry, the Company differentiates itself and achieves high margins through its highly skilled workforce that understands how to effectively navigate job sites.
Ownership is seeking to divest from the Company to decrease their work responsibilities and spend more time with family. In support of a successful transition, ownership is open to remaining with the Company long-term in a Project Manager type role, where they have an increased ability to visit job sites, manage projects, and return to tasks that are more suited to their interests.
