The Owners: 71 year old , family owned business. 4 owners (2 fathers, 2 respective sons). Business has always remained privately, family owned.Our entire operation is run from the headquarters office in Bala Cynwyd, PA (suburb of Phila).The Company:Largest Specialty Contractor on the east coast. We…
The Owners:
71 year old , family owned business. 4 owners (2 fathers, 2 respective sons). Business has always remained privately, family owned.
Our entire operation is run from the headquarters office in Bala Cynwyd, PA (suburb of Phila).
The Company:
Largest Specialty Contractor on the east coast. We are a distributor/subcontractor for Divisions 10,11,12 of the commercial building industry specifications. We pursue large, high-profile, high-dollar commercial projects (airports, hospitals, hotels, multi-family high-rise, universities..) from New York to Virginia. Our customers are large, reputable general contractors. 85% of our customers are repetitive.
The Business Model:
Extremely clean.
*We bid +- 600 projects per year, and are very selective on the type. We focus only on high-gross profit projects, with established customers, financially established owners.
*We are contracted for approx. 300 various projects per year. We pick and choose our projects.
*70%+- of our revenue is as a material only supplier. 30%+- of our volume includes installation.
All materials are purchased from manufactures, dropped shipped to jobsites. We inventory nothing, we touch nothing unless we are installing.
*We have long-established relationships w/ over 200 manufactures for which we have advantageous payment terms. We can purchase from manufactures around the globe when required and have set in-place logistic carriers (that handle shipping, tariffs, taxes, fees, etc), foreign dock to jobsite.
*We offer installation on our products (union and non-union) if/as required. We have no labor on our payroll. We sub all install to well-established independent subcontractors (12-15) for which we are exclusively tied. We keep them busy 24/7.
Financial:
We have zero debt.
We have never been bought, sold, leveraged or financially compromised.
We have no liens, suits or pending judgments.
We own out-right our office building from which we operate; this is our only location.
We have a bank LOC for which we borrow and pay back if/as needed.
We are established w/ a surety for projects requiring bonding and a limit of $10 mill aggregate/ $5 mill per project. In a typical year we may use $1.5 mill of that capacity.
We have been profitable ever year.
The Staff:
4 owners/ 23 staff, all in-office.
We have no jobsite staff at any time.
Little to no turnover. 80% of our staff has tenure exceeding 15 years w/ us, some here beyond 25 years. We treat most like family and understand life exists beyond our office walls.
We have a matching 401K and an extremely generous profit-share program for which many of the staff have accumulated well into six-figures.
The Go-to:
*We are the go-to for many general contractors on the large projects. We bond, carry terms, run projects efficiently and are well-regarded.
*We have completed historic work at The Pentagon (after 9/11); tremendously large projects (The Wharf, Wash DC $2.5 mill), Comcast Tower ($2 mill), large pharmaceutical, hospital, stadium..projects.
*We have little competition. In any given area we do business (NYC, PA, NJ, DC, VA) there is typically no more than two other bidders vying for the same project.
