Established Central Florida Electrical Contractor, Service & Infrastructure Upgrades

$3.5M

Revenue

$806K

SDE

4.9x

Multiple

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Full Editorial Writeup

This is a Central Florida electrical contractor founded in 2012, doing roughly $3.5M in revenue with $806k of owner cash flow and $725k of EBITDA. The company deliberately avoids new-construction dependence and instead lives on service, repair, replacement, panel and amperage upgrades, and larger infrastructure modernization work across residential, commercial, and industrial customers. The differentiated niche is large-scale capacity upgrades for existing residential and commercial developments, where a single development can generate dozens of individual jobsites and multi-month engagements.

What makes the deal stand out for a buyer is forward visibility. Management claims a work-in-progress and project pipeline extending into 2027-2028, which is unusual for a trades business and gives a new owner a runway of contracted or committed revenue rather than starting each quarter from zero. The business also carries meaningful repeat and referral flow, a 10-person full-time crew, and $500k of FF&E, all operating out of a leased 5,000 SF facility with a long lease running through 2036.

At $3.95M against $806k SDE, the deal is priced at about 4.9x cash flow and is SBA prequalified. That is a full multiple for a sub-$4M trades business, so the premium is being paid for the specialty infrastructure niche, the diversified revenue mix, and the visible backlog rather than for pure size.

Why we like it

Earnings quality is solid for a trade at this size: $805k SDE and $725k EBITDA on $3.5M revenue implies roughly 20% margins, which is healthy for electrical service work and suggests real pricing power rather than thin bid-and-spend construction margins. The deal is SBA prequalified, meaning a third party has already sanity-checked the cash flow and the acquisition can be levered with modest equity.
The moat is the specialty infrastructure niche plus reputation-driven repeat and referral flow. Large-scale amperage, pedestal, feed, and panel upgrades across whole developments are technical, licensed, and relationship-heavy, which keeps casual competitors out and produces larger, longer-duration jobs than one-off service calls.
Market tailwinds are strong and durable. Florida's aging residential and commercial developments need electrical modernization regardless of the housing cycle, and demand for capacity upgrades is structurally rising with EV charging, HVAC electrification, and load growth, none of which pause in a recession.
The pipeline is the real prize. Management claims booked work-in-progress extending into 2027-2028, which is rare in the trades and gives a new owner unusually good forward visibility instead of restarting the sales engine every month.
The revenue base is diversified across service calls, project work, and industrial jobs, and across residential, commercial, and industrial customers. That mix reduces reliance on any single job type and cushions the business if one channel softens.

How to improve it

Convert one-time service customers into recurring maintenance and inspection agreements. Electrical service and safety inspection plans for commercial and multi-site development clients would add contracted, predictable revenue and lift the exit multiple, since the current model re-wins each job.
Verify and then monetize the 2027-2028 backlog by formalizing contracts, change-order terms, and deposit schedules. Tightening billing milestones improves working capital and protects margin on the long-duration infrastructure jobs that are the core of the value story.
Lean harder into the specialty infrastructure niche by productizing the whole-development upgrade offering. Packaging amperage and pedestal upgrades as a repeatable per-site scope lets the team quote and mobilize faster and pursue additional developments across the growing territory.
Add EV charging installation and electrical load upgrades as an explicit service line. This rides an obvious structural tailwind, uses the existing licensed crew, and opens both residential and commercial recurring upgrade demand.
Build out the field workforce and a second crew lead to reduce key-person risk with only 10 full-time employees. Recruiting and cross-training licensed electricians is the binding constraint on growth for a business already sitting on a multi-year pipeline.
Implement or upgrade field-service software for scheduling, dispatch, job costing, and follow-up quoting. Better data on job-level margin will reveal which project types actually drive the 20% margins and where to concentrate bidding.
Expand geographically into the newer service territories the listing references by hiring or acquiring small local electrical crews. The reputation and referral engine travels, and bolt-ons at lower multiples would be accretive against the 4.9x paid here.

Diligence notes

Scrutinize the backlog claim in detail. Get the actual work-in-progress schedule, signed contracts, deposit status, and cancellation terms, because a pipeline extending into 2027-2028 is the primary justification for the full 4.9x multiple and must be verified as committed rather than merely forecasted.
Confirm the SDE-to-EBITDA bridge and add-backs. Cash flow of $805k against $725k EBITDA is only an $80k spread, so understand exactly what owner compensation and personal expenses are being normalized and whether the owner is performing billable field or estimating work that must be replaced.
Verify licensing and key-person exposure. Electrical contracting requires a qualifying license, so confirm whether the license sits with the owner or a retained employee, how it transfers, and what happens to bonding, insurance, and permits post-close with only 10 employees.
Assess customer and project concentration. Large multi-site development jobs can mean a handful of developers drive most revenue, so pull revenue by customer and by project to test whether the repeat and referral base is diversified or dependent on a few relationships.
Review job-level margins and change-order history on the long-duration infrastructure projects. Fixed-scope multi-month electrical work carries cost-overrun and material-price risk, so confirm how those jobs have historically closed relative to bid.
Confirm the lease economics and facility fit. Rent is $6,750 per month on a 5,000 SF space with a lease through 2036, so verify escalation terms and whether the space supports the crew and truck expansion needed to work down the pipeline.

Source

Originally listed on BizBuySell. View original listing →