Commercial Electrical Company in Lubbock, TX

This commercial electrical company was established over 10 years ago and operates in Lubbock, TX. The Lubbock county is one of the fastest growing in the country and it is expected to double by 2050. This is an incredible opportunity for a new owner to come in and continue the growth of this company. The owner is ready for retirement and is looking to pass the business on to a new buyer. The current owner is willing to stay on and support with the transition. The business has a very stable team of back office staff and technicians that will remain with the business. The business revenue typically hovers around $1.5-$2M and in 2023 it had a revenue of $2M with an Adjusted EBITDA of ~$500k. Virtually all revenue comes from commercial projects, and all projects are obtained through bidding processes. It is advantageous that all revenue stems from bids, as this signifies independence from the current owner’s relationships. Revenue generation relies solely on the merit of successful project bids, ensuring continuity regardless of ownership changes. New owners can seamlessly maintain comparable revenue levels by actively engaging in bidding processes for projects. The business has a total of 13 employees with 10 technicians and 3 back office staff. There is ample room for growth with this business because the current business doesn’t even have a website, never spent any money on advertising, doesn’t have a business development department and never made any efforts to build relationships with GCs in the area. A new owner could easily come in and execute the aforementioned activities with ease. This, coupled with the population of Lubbock, TX doubling in the next 25 years, makes for this business to make a fantastic acquisition target.