Utility Construction and Engineering Company

The Company is a utility construction and engineering company. It provides its customers with the construction, rehabilitation, and replacement of water plants, wastewater plants, water systems, wastewater systems, reclaimed water systems, and stormwater systems and facilities.

Key Aspects

• Adjusted EBITDA margins have averaged 11.7% from Sep 2020 to Sep 2023

• $16M in backlog as of September 30, 2023

• Management notes that 99% of revenue was from repeat customers in 2023

• Highly skilled and knowledgeable team with an engineer on staff, which allows for a one-stop-shop

• According to management, state law allows municipalities to piggyback on contracts already in place, which makes it easier and faster to procure services without having to bid out a project

• 24-hour emergency utility response team

• The Company has a single and aggregate bonding capacity of $25-$30M and $40-$50M, respectively

Opportunities

• Search engine optimize website to improve visibility and help target audiences find the Company's website

• Expand geographically to cover more areas and other states outside of its current market

• Expand services to include land development projects to gain market share

• Develop marketing efforts to reach prospective customers

Headquartered

• Southeast, US 

Current Markets

• The Company provides its services to municipalities in the Southeast, US

Real Estate

• The Company operates from four facilities totaling 10,400 sq. ft. on approximately 4.5 acres of combined land. The Company owns all real estate and expects them to be included in the sale.