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Vermont Roadworks LLC, WBE– Award-Winning Vermont Paving Company For Sale After 14 successful years of building one of Vermont’s most respected paving and asphalt maintenance companies, Tara and Fred... Businesses Franchises Brokers Loading... Award-Winning Vermont Paving and Winter Snow Removal Company, Turnkey Guilford, VT (Windham County) Previous Next Asking Price:$4,500,000 Cash Flow (SDE):$1,100,000 EBITDA:$900,000 Gross Revenue:$2,100,000 Real Estate:$950,000 Established:2014 Award-Winning Vermont Paving and Winter Snow Removal Company, Turnkey Business Description Very Diversified Business with Great Potential for Expansion Vermont Roadworks LLC, WBE– Award-Winning Vermont Paving Company For Sale After 14 successful years of building one of Vermont’s most respected paving and asphalt maintenance companies, Tara and Fred Cheney have made the decision to offer Vermont Roadworks LLC, WBE for sale. This is a rare opportunity to acquire a fully established, turnkey operation with a loyal customer base, modern facilities, valuable equipment, and an outstanding reputation throughout Vermont. Founded by Tara and Fred Cheney, Vermont Roadworks was built on hard work, integrity, and traditional Vermont values. Both owners come from farming backgrounds and understand the commitment required to build something from the ground up. Long days, early mornings, problem-solving, and perseverance have been the foundation of the company since day one. Over the last 14 years, Vermont Roadworks has grown into a highly respected and diversified company serving residential, commercial, municipal, and federal clients throughout Vermont and surrounding states. Services include: • Asphalt paving • Driveway construction • Commercial paving • Municipal paving projects • Parking lot construction • Excavation and site preparation • Crack sealing • Seal coating • Line striping • Pothole repair • Parking lot maintenance • Winter snow removal One of the company’s greatest strengths is its diversification. Vermont Roadworks has repeat customers, because they can maintain and protect the asphalt long after installation. This creates recurring revenue opportunities and long-term customer relationships. The company has received numerous awards, including Best Paving Company 2026, by Google in the state of Vermont, just this week. These awards reflect not only the quality of work performed but also the trust and loyalty of customers throughout Vermont and New England. The sale includes valuable real estate, a state-of-the-art operational facility, dump trucks, paving equipment, rollers, striping equipment, maintenance equipment, support vehicles, shop tools, and operational systems. Everything is in place for a new owner to step in and continue operations immediately. The decision to sell comes from a desire to simplify life and focus on family, health, and other passions. While Vermont Roadworks has been the primary focus for the last 14 years, with a background in Holistic Health Tara is also the founder of a healing arts center. In addition, Tara serves as Vice Chair of the Guilford Selectboard and is actively involved in community engagement, public service, and grassroots civic initiatives. Her commitment to leadership and community service reflects the same values that helped build Vermont Roadworks into the company it is today. Fred was a dairy farmer and than worked for a large paving company. He has over 25 years of experience in the paving industry and has dedicated years to overseeing operations, estimating, project management, customer relationships, equipment management, and field supervision. Together, Tara and Fred have built a company they are proud of. As new grandparents and lifelong Vermonters, they are ready to spend more time with family, reconnect with their farming roots, care for loved ones, and enjoy a more balanced lifestyle. The decision to sell is not based on business performance. Vermont Roadworks continues to be successful, respected, and positioned for future growth. Rather, it is an opportunity to pass the torch to a new owner who can build upon the strong foundation that has already been established. This is a legacy business. The growth potential remains substantial. Businesses like Vermont Roadworks rarely become available. With an established reputation, loyal customer base, experienced team, valuable assets, real estate, and significant growth potential, this is an exceptional opportunity for an entrepreneur, investor or contractor. The foundation is built. The reputation is established. The future is yours to build. Ad#:1971364 Attached Documents Capability Statement 202... Detailed Information Inventory: $50,000Not included in asking price Furniture, Fixtures, & Equipment (FF&E): $100,000 Included in asking price Employees: 9 Full-time We have seasonal employees in the winter Facilities: Available as part of the turnkey purchase package: Approximately 5,600-square-foot state-of-the-art shop, able to store large equipment inside. Radiant floor heating Energy-efficient design Office space Equipment storage Efficiency apartment Excellent operational layout for year-round business The business may also be purchased without the real estate. Assets Included Over $1 Million in equipment and assets Complete paving and excavation fleet Trucks, trailers, specialty equipment, and support equipment Established branding and marketing assets Customer database Vendor relationships Existing contracts and goodwill Competition: Vermont Roadworks has established itself as one of the most recognized and respected paving companies in Southern Vermont. Through a commitment to quality workmanship, customer service, and diversification, the company has become a market leader in the region. It has received numerous state and local awards, including best in the area for the last three years, and best in the state for the past six years. This diversified service model creates multiple revenue streams while allowing the company to maintain long-term relationships with customers throughout the life cycle of their pavement investment. A unique advantage is the company's strong position in specialized maintenance services. Vermont Roadworks performs line striping, crack sealing, and seal coating - which few competitors in the region perform or can match. As such, there is limited direct competition within Southern Vermont. Growth & Expansion: One of Vermont Roadworks’s greatest strengths is its diversified service model. Over the past 12 years, the company has intentionally developed into a one-stop solution for paving, site preparation, maintenance, and winter services. Unlike many paving companies that focus solely on asphalt installation, Vermont Roadworks provides complete project management from excavation and site preparation through paving and long-term maintenance. Very few competitors in the region offer line striping, crack sealing, seal coating, and infrared pothole repair services, creating substantial opportunities for market expansion and increased recurring revenue. The infrastructure, reputation, equipment, and customer relationships are already in place. The next owner will have the opportunity to scale operations substantially and potentially grow from one or two crews to multiple crews serving Vermont and the broader New England market. Financing: Seller financing available owner financing after initial down payment Support & Training: Comprehensive training and support can include: Estimating and bidding procedures Project management and scheduling Customer relations and sales processes Vendor and supplier relationships Office administration and workflow systems Accounting and operational procedures Employee management and crew coordination Seasonal planning and snow removal operations Equipment operation and maintenance In addition to office and management training, the owners are willing to provide hands-on field training in the specialized skills required to successfully operate a paving and maintenance company. Training may include: Asphalt paving operations Crew management and jobsite coordination Screed and paving techniques Roller operation A
Why we like it
- Earnings Quality: $1.1M cash flow on $2.1M revenue delivers a healthy 52% margin with diversified revenue streams across residential, commercial, municipal, and federal contracts. The business generates recurring maintenance revenue through crack sealing, seal coating, and line striping services that create sticky customer relationships beyond one-time paving jobs. Winter snow removal provides counter-seasonal cash flow, smoothing earnings volatility typical in construction.
- Durability & Moat: Vermont Roadworks holds a dominant position in Southern Vermont with limited direct competition in specialized maintenance services like line striping and infrared pothole repair. The company has earned Best Paving Company recognition for six consecutive years, building brand equity and customer loyalty that creates pricing power. The diversified service model from excavation through long-term maintenance makes customer switching costs high and enables lifetime value capture.
- Market Tailwinds: Infrastructure spending remains robust with federal, state, and municipal budgets prioritizing road maintenance and improvement projects. Vermont's harsh winters create consistent demand for both preventive maintenance and emergency repairs, while the state's growing commercial development drives new construction opportunities. The fragmented nature of the regional paving market provides clear expansion runway for a well-capitalized operator.
- Operator Advantage: The business includes comprehensive training programs, established vendor relationships, and proven operational systems that enable smooth ownership transition. Over $1M in included equipment eliminates major capital investment needs, while the state-of-the-art facility provides operational efficiency and year-round storage capacity. The retiring owners' 25+ years of industry experience and local market knowledge transfer with the sale, providing new ownership with immediate credibility and operational expertise.
How to improve it
- Scale Operations: Immediately expand from current 1-2 crews to 3-4 crews to capture obvious demand overflow and reduce customer wait times during peak season. The existing facility, equipment base, and operational systems can support 2x current volume with minimal incremental overhead, driving significant margin expansion through fixed cost leverage.
- Geographic Expansion: Systematically expand service territory into neighboring Vermont counties and New Hampshire markets using the proven playbook and brand reputation. Target similar municipal contracts and commercial customers in adjacent markets where competition remains fragmented and specialized maintenance services are underserved.
- Digital Marketing Overhaul: Implement comprehensive digital marketing strategy including Google Ads, SEO optimization, and social media presence to capture more residential and small commercial customers. The current business appears to rely heavily on word-of-mouth and relationships, leaving significant digital market share untapped in a $2B+ regional market.
- Premium Service Tiers: Introduce annual maintenance contracts and premium service packages that bundle multiple services (paving, sealing, striping, snow removal) for commercial customers. This creates predictable recurring revenue, improves customer lifetime value, and provides pricing power through value-based bundling rather than commodity bidding.
- Technology Integration: Deploy project management software, GPS fleet tracking, and customer portal systems to improve operational efficiency and customer communication. Many traditional construction businesses lag in technology adoption, creating competitive advantages through better scheduling, cost tracking, and customer experience.
- Strategic Acquisitions: Use the strong cash generation to acquire smaller regional paving companies, equipment rental businesses, or complementary services like landscaping to accelerate market expansion. The fragmented nature of the industry provides numerous bolt-on acquisition opportunities to rapidly scale revenue and eliminate competition.
- Equipment Financing Optimization: Restructure equipment financing to optimize cash flow and tax benefits while expanding the fleet to support growth initiatives. Consider sale-leaseback arrangements on newer equipment to free up working capital for expansion while maintaining operational control.
- Seasonal Workforce Development: Formalize training programs and retention strategies for seasonal employees to ensure consistent service quality and reduce hiring friction during peak periods. Develop cross-training programs that allow winter snow removal crews to support summer paving operations, maximizing year-round utilization.
Diligence notes
- Revenue Concentration: Verify customer concentration risk by analyzing the percentage of revenue from top 5-10 customers and the mix between municipal contracts, federal projects, and private customers. Municipal contracts provide stability but often have payment delays and political risk, while over-reliance on any single customer type creates vulnerability during budget cycles or economic downturns.
- Equipment Condition & CapEx: Conduct thorough inspection of the $1M+ equipment fleet including maintenance records, remaining useful life, and upcoming replacement schedules. Paving equipment endures heavy use and Vermont's harsh conditions accelerate wear, so understanding true equipment condition and replacement timeline is critical for cash flow projections and working capital needs.
- Seasonal Working Capital: Model working capital requirements across the seasonal business cycle, particularly spring startup costs, summer project financing, and winter cash management. Construction businesses often face significant working capital swings between seasons, and understanding payment terms with municipal customers versus private customers will impact cash flow timing and financing needs.
- Regulatory & Environmental Compliance: Verify all required licenses, permits, and environmental compliance particularly around asphalt handling, storage, and disposal. Review any environmental liabilities from the operational facility and ensure proper documentation of waste disposal procedures, as regulatory violations in construction can result in significant fines and operational disruptions.