Property Damage Restoration Service Contractor

Property Damage Restoration Service Contractor

Property Damage Restoration Service Contractor
Price: $2,900,000

Location: Greater Toronto Area

Industry: Services & Contracting

This is an opportunity to acquire an Insurance Restoration contracting business. Insurance Restoration is known as a recession proof industry. The services the business delivers are provided on behalf of Insurance Companies to property owners that have sustained damage to their property. These services include emergency response for water damage, fire damage, wind damage, fallen trees, vehicle impacts, break and enter, etc.

After emergency services are completed to mitigate damages, the company provides restoration services to restore the property back to pre-loss condition. Over the course of the last 10+ years, the company has developed lasting relationships with large insurance companies which provide the business with reoccurring revenue on an ongoing basis. Approximate break-down between Emergency and Restoration services is 30/70.

The company has achieved a Preferred Contractor Status with a number of insurance companies based on its quality of work and service standards. The business is IICRC (Institute of Inspection, Cleaning and Restoration Certification) certified. Breakdown between Residential and Commercial work is 90/10. In addition to the roster of experienced Project Managers, Office Staff, and tradespeople, the business has a reliable stable of sub-contractors that it utilizes as necessary.

Financial Parameters below are weighted average for the fiscal year end period 2019 to 2021, with 2022 FYE tracking at this performance. Normalized EBITDA is after an owner operator salary of $150,000. Indicative price is for a Share sale and to include a normal amount of working capital, as well as all vehicles and equipment. Customary transition and training of 6 to 12 months to be provided by the current owner.

Revenue: $4,495,000

EBITDA: $722,000

Employees: 15

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