Environmental Remediation Services
This fully licensed building contractor, located on one of Hawaii’s beautiful islands, has become one of the most preferred and largest providers of expert environmental and hazardous removal services to the construction industry in its Hawaii market. They provide expert abatement and removal and remodeling, renovation and restoration services for residential, commercial, industrial and government properties. They are fully licensed, bonded and insured and certified by the State of Hawaii to provide abatement and removal services for a variety of hazardous materials. Their professional staff have the required training and certification to ensure that the removal of asbestos, lead and other hazardous materials is conducted according to all state and federal regulations.
They believe they have a share over 50% in their market and this is driven by their superior work, excellent “word-of-mouth” referrals and recommendations from their many satisfied customers. Annual sales were $912,934 in 2018 which produced $438,000 of SDE. Covid-19 did affect their business and they are now in a rebuilding period and expect a good 2022.
Key Investment Highlights are:
Very high market growth due to aging old construction (Hawaii had a residential and commercial building boom in the 1960’s, 70’s and 80’s which now requires hazmat remediation in many cases)
High moisture levels in Hawaii often result in mold
High profit margins and growing market share
Excellent business reputation
Well trained and licensed technicians
Limited Direct Competition
A Hawaii contractor’s license is required, and the current owner will provide his license for a reasonable period after the sale. The business is being offered for sale on a fully turnkey basis, including two vehicles. The owner is retiring and is now running the business on an absentee basis. He will provide a non-compete agreement and training/orientation for the buyer.
Listing ID: HI Env Serv
Location: Hawaii (Island Confidential)
Type of Entity: Sole Proprietorship
Year Established: 2014
Asking Price: $595,000
Included Inventory: none
Tangible Assets: $150,000
Non-Compete: 5 years
Training: 2 weeks
Sale Reason: Retirement
Varies, in 2019 they had 9 part-time and full-time
Term: Annual Lease, expires May 31, 2022
Space: 1,125 sq. ft. plus partial second floor
Rent: $1,194 per month
Located close to customers
Limited direct competition
The big growth in Hawaii construction began in the 1970s (hotels, condos, schools, government buildings, utilities, etc.) and now many of these older buildings require remediation and renovation due to asbestos, lead, mold, etc. In addition, there is more of an awareness of the health issues associated with old building materials and mold, etc. and a demand to remediate these. They see significant growth as these older buildings have to be remediated. Many buildings constructed before 1986 have asbestos or other hazardous materials which need to be removed and remediated.
The Company only works on one of the Hawaii Islands and believes that there would be excellent growth opportunity in the other Hawaii islands for their services.
For a detailed Confidential Business Profile, with tax return based financial data please contact us.