Established Commercial Construction & Design-Build Firm, 40-Year Operator with Real Estate · Accredited

Published OCT 30, 2026

Established Commercial Construction & Design-Build Firm, 40-Year Operator with Real Estate

$5.0M

Revenue

$800K

SDE

6.3x

Multiple

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Andy

Ben Sampson

Full Editorial Writeup

This is a 40-year-old commercial construction and design-build company offering a diversified mix of services: ground-up commercial construction, construction management, renovations and additions, structural concrete work, and site development. The breadth matters here. A contractor that can self-perform concrete and manage full design-build packages captures more margin per job and is less dependent on any single project type or trade partner than a narrow subcontractor.

The financials are the story worth studying. Revenue has run between roughly $4M and $5.8M over five years, with 2025 the high-water mark at about $5.8M and $885K of net profit, implying mid-teens net margins. For a general contractor, 15% net is well above typical GC margins, which usually sit in the single digits. That either reflects a favorable self-perform mix, strong project selection, or owner compensation and overhead running light, and it needs to be understood precisely before underwriting the price.

The deal is being marketed off-market by a broker, includes company-owned real estate and operational assets in the proposed transaction, and comes with seller financing available. At a $5M ask on roughly $800K EBITDA, the headline is 6.25x, but that multiple is muddied because it bundles the operating business with real estate. A buyer must separate the dirt from the going concern before judging whether this is fairly priced.

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How to improve it

Immediately rebuild the financials on a GAAP percentage-of-completion basis and build a job-level margin report for the last 36 months. In construction, headline net profit means little until you see gross margin by job, change-order history, and work-in-progress accuracy. This is the single highest-leverage first-90-days action and determines whether the 15% margin is durable.
Carve the real estate out of the operating entity and put a market lease in place, then underwrite the business on its own cash flow. Owning the dirt inside the deal inflates the multiple and hides the true operating return. Separating them lets you finance the real estate conventionally and judge the going concern on a clean EBITDA basis.
Document the backlog and pipeline in dollars and expected completion dates before close, and tie key customer and developer relationships to written master agreements or at least repeat-order history. A GC with a thin or expiring backlog at close is a very different asset than one with 12 months booked. This protects against the classic construction trap of buying a business whose revenue walks out the door with the founder.
Assess bonding capacity and the surety relationship, then work to expand it under new ownership so the company can pursue larger projects. Bonding limits are often the real ceiling on a mid-market GC's growth, not demand. A better-capitalized buyer can raise that ceiling and immediately unlock larger-ticket work.
Formalize the project management and estimating function so the business is not dependent on the owner's judgment for bidding and job oversight. Standardized estimating templates, a dedicated project manager, and a repeatable close-out process reduce key-person risk and let the company take on more concurrent jobs. This is essential since the listing says the owner carries decades of project experience.
Push the design-build and construction-management mix higher, since those are the higher-margin, fee-based services versus hard-bid general contracting. Growing the fee-based share stabilizes cash flow and reduces exposure to material-cost swings and lump-sum risk. Market the design-build capability deliberately to existing clients who currently only hire the firm to build.
Audit labor: how much work is self-performed versus subcontracted, the age and tenure of the crew, and exposure to trade shortages. In concrete and site work, your crew is your margin, and losing a superintendent can stall jobs. Lock in key personnel with retention agreements as part of the transaction.