Brief Overview and Deal Points:
This company has long term maintenance contracts which are highly profitable and predictable. The company has 4 full time technicians that now service these full time. This is also a easy area to grow because it is an easy cold call: They are 5 star Google rating, lower rates than most of the industry, long term experienced technicians, etc. They also do new construction, remodels, normal service calls including emergency calls 24/7 at a much higher billing rate, and commercial hydronics. The emergency calls go directly to his managers and not to the owner. They have also started doing plumbing through an independent contractor and are considering hiring a master plumber. The buyer will step into a solid pipeline of recurring revenue proven by the fact that the owner doesn’t spend money on advertising. It is a referral based business. They are about 95% commercial and 5% residential with 70% of their revenues coming from previous customers. They have many long term customers that continually expand, add locations, or require service. They just answer the phone. Their unparalleled experience, competitive pricing, and overall value set them apart from their competitors. Their technicians are dedicated to installing reliable systems and improving air quality. Customers can depend on Synergy Mechanical to provide the highest quality craftsmanship and dedicated professional service.
They are paperless with every employee using an iPad through Verizon which has improved customer service, the tracking of previous work done for a customer, and billing. The hard assets are made up of 135K in equipment including 8 trucks and a trailer that you can see in the video walkthrough and pictures in the data room link above. Plus, they have an estimated25K in inventory which is extra.
Growth and Expansion: The company could grow by adding a salesperson, advertising, or by just taking more jobs. They do virtually no advertising; the P & L though September of this year shows $4K in advertising which is less than 1 percent of revenues and don’t even have the name of the company on the side of their trucks. There are many ways a new owner can improve this business. The current owner has 2 other businesses and through the growth of all 3, he was forced to make a choice. A new owner can dedicate 100 percent of their time to take advantage of their reputation and grow this much larger quickly.
The owner will sign a non-compete. He is willing to transition the business and can teach the new owner how to run the business and how to grow it. In fact, the business will not change on bit the day after the closing. Industry experience is recommended. There are no required specific licenses, the owner just pulls permits in each municipality which he can teach the new owner how to do.
The business has very loyal and long term employees. There is a service manager, estimator and 15 employees. Many of the employees have been there a very long time. The employees are all hourly ranging from 32 per hour to 40 per hour plus benefits which includes a 6 percent 401K match and the company pays for their health insurance premiums. This creates loyalty and is part of the reason the employees are trustworthy, competent, and reliable.
Their location is located close to the middle of Denver just off of two of Colorado’s busiest highways for easy access to the entire city. Their space is being offered for lease at 5,000 per month triple net. The building is owned by the owner of the business and will offer a long term lease with extensions. Their space is just over 6,000 square feet and has plenty of parking.
They have a great reputation for safety, quality, and reliability. The seller will agree to full Reps and Warranties to a solid legal and business standing. They have a great record for safety (OSHA) as proven by their low workman’s comp MOD rate. They have had no regulatory issues, no lawsuits, and no issues with the city, county, or municipality that they are in. They are also 5 star rated on Google and A+ rated with the Better Business Bureau. They are proud that they have non-commission based technicians whom put the customer first.
Plus, Colorado is the best State in the country to own a business. Colorado is the “#1” fastest growing and strongest economies in the United States.
Please Call of Email for Information: The broker is available at any time to discuss your interest in this offering and can set up a meeting either in person or by phone with the owner(s). Thank you for your interest.
Thanks for your consideration,