Municipal Wastewater Contractor, Florida Utility Construction Firm · Accredited

Published SEP 16, 2026

Municipal Wastewater Contractor, Florida Utility Construction Firm

Florida

$23.8M

Revenue

$9.7M

SDE

3.9x

Multiple

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Andy

Ben Sampson

Full Editorial Writeup

This is a Florida-based heavy civil contractor that self-performs municipal wastewater and utility construction work. The company runs its own field force organized into crews under experienced superintendents and foremen, supported by an in-house office, shop, and fabrication facility with an equipment yard. On roughly $23.8M of revenue it throws off $9.7M of cash flow, a 41% margin that is unusually strong for civil construction and signals real self-perform capability rather than a paper-thin subcontracting shell.

The headline asset is a $37M contracted backlog, which represents more than 18 months of revenue already booked with public-sector clients. Municipal wastewater is about as non-discretionary as construction gets: water and sewer systems must be built and maintained regardless of the economic cycle, and the customers are cities and utility districts with tax and rate-base funding rather than fickle private developers. That combination of contracted visibility and essential end-market is what makes this a defensible earnings base.

Leadership depth is a selling point. Below the founder sits a second-generation vice president and a senior field bench with decades of experience, and the owner has committed to a six-month transition plus an open-ended estimating role if the fit is good. The business is positioned for a strategic acquirer building a Florida water/wastewater platform, or a financial buyer who wants a documented earnings stream and can install or retain estimating leadership over time.

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How to improve it

Lock down the estimating function before the owner's open-ended commitment quietly ends. Estimating is the single point of failure here, so document the bid methodology, build a pricing playbook, and cross-train the two 2026 office staff so the win-rate does not walk out the door with the founder.
Convert the second-generation VP and senior field bench into equity or long-term retention agreements within the first 90 days. This bench is what makes the business runnable post-close, and losing them to a competitor would gut the operation, so tie them in with earnouts, stock, or aggressive comp.
Negotiate the facility lease or purchase on hard terms rather than accepting market rent by default. The owner controls the shop, fabrication space, and equipment yard personally, so quantify the true occupancy cost and consider buying to control this chokehold asset and capture the real estate spread.
Diversify the public-sector customer base beyond any concentrated municipalities. Backlog is only as strong as the counterparties behind it, so pursue adjacent counties, water districts, and utility authorities to reduce reliance on a handful of relationships the founder personally built.
Push into higher-margin adjacent civil work like lift stations, force mains, and treatment plant rehab where self-perform crews command premium pricing. The existing field force and fabrication capability are underutilized assets that can bid larger, more complex packages with the same overhead.
Build a repeatable bidding cadence and CRM around municipal RFP calendars. Public work is predictable if you track it, so systematize which agencies bid when, pre-qualify early, and staff estimating to increase bid volume without sacrificing the disciplined margins that make this business special.
Formalize equipment maintenance and replacement scheduling to protect the fleet value and avoid surprise capex. Heavy civil runs on iron, so a documented fleet condition and capex plan both protects margins and strengthens your position when refinancing or reselling.