Long Established Home Services Company In Vancouver For Sale

This business is a well-established home services company that has been operating in the Lower Mainland region of British Columbia for almost 17-years. The company provides an array of exterior cleaning services to residential, strata, and commercial clients, including window and gutter cleaning, pressure washing, moss removal, and more. These services are demanded by clients year round as an essential part of property maintenance.

The company has a robust client list that yields a secure annual revenue base and provides a straightforward path to growth within its operating area through the addition of crews and marketing focus. The current owner of the business has focused on margin expansion in the business but has not had the time to prioritize growing the business.

This is an opportunity for a buyer looking for a turnkey owner-operator business they can meaningfully grow; a buyer in a similar industry looking for immediate growth; or for a buyer with a home services company in a different geography that is looking for an accelerated pathway to enter the Lower Mainland market.

INVESTMENT HIGHLIGHTS:

TURNKEY SERVICE BUSINESS | 17-years operating in the Lower Mainland

o Currently operating three trucks staffed with experienced crew members
o All vehicles and equipment are fully-owned
o Contracts with a major housing corporation, a leaf cover provider, and several large strata property companies
o Exceptional service record and client list of ~2,500
o 33% of revenue from FY2022 from repeat clients

PLATFORM FOR GROWTH | opportunity to scale business with additional investment

o Revenue growth of 137% since 2020
o Revenue of >C$300K over past three fiscal years (includes other income)
o Other low barrier home services can be added easily (e.g. duct-cleaning)

ROBUST ECONOMICS | home services provides strong sales & margin per job

o Average sales per residential job: C$350
o Expected margin per residential job: C$158
o Expected annual sales per truck: C$158K

FINANCIAL SNAPSHOT

Fiscal period 2023 PROJECTED

Sales C$352,100 Normalized EBITDA C$98,027

Fiscal period 2022 ACTUAL

Sales C$253,415 Normalized EBITDA C$84,454

SALE INFORMATION

The business will be sold as a going concern on a cash-free and debt-free basis. The owner is targeting a sale closing in May 2023. Upon receiving expressions of interest, potential buyers will be provided with access to a detailed business profile. A competitive sale process will be run, with an expectation of value consideration of 2.5-3.5x Normalized EBITDA.

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