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ICI Plumbing and Mechanical Contractor

ICI Plumbing and Mechanical Contractor

ICI Plumbing and Mechanical Contractor
Price: $1,399,000

Location: Greater Toronto Area - North

Industry: Services & Contracting

ICI (Industrial, Institutional & Commercial) Plumbing & Mechanical business with In-house sheet metal fabrication capabilities. Plumbing projects represent 60% of the business, with the remaining 40% being HVAC. Majority of work the company performs is New and Retrofit, predominantly commercial and institutional and includes full plumbing, mechanical, hydronic and boiler rooms. The company is also on the Pre-qualification list for Mechanical Contractors in its County’s District School Board. The business does not do hi-rise work (max ~ 5 storeys).

The work force is not unionized and has a long tenure with the business – most Managers and Foremen have been with the company for over 10 years. The company has preferred contractor pricing and significant credit limits with all of its major suppliers due to its strong payment history.
With a lot of the business coming from institutional projects, the business is well positioned for any type of private sector slow down and its preferred contractor pre-qualification with the school board assures it can bid on a variety of projects unrelated to the general economy. Projected Revenue for the next couple of fiscal years is in the $3,500,000-4,000,000 range.

Current owner is involved with estimating of projects and some project management and is willing to stay for a period of 12-18 months post-acquisition to facilitate transition. Indicative price is for a Share sale and includes a normal amount of working capital. Financials below are for FYE 2022, annualized based on 11-months year to date information.

Revenue: $2,527,000

EBITDA: $391,000

Employees: 11

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