Fire & Water Mitigation & Insurance Restoration Business For Sale

Business description

This south-central Kansas based company provides multiple core services with the cleaning and restoration of water & fire damage representing the majority of annual sales. Other strong core services include residential & commercial services such as the cleaning of carpets, air ducts, upholstery, grout & tile cleaning & refinishing, mold remediation, contract janitorial services, commercial project work, and other specialty services which make up the bulk of the remaining annual sales. It staffs 78 full time and part time staff (50% of which are part-time & janitorial positions) with a solid management team in place that will stay on in transition. The role of the owner is one of a day to day management in overseeing accounting, training & development of the department heads, and coaching of estimators and marketing staff. The business has a high percentage of repeat customers and a large established network of individuals and companies who refer new customers.

Customers include insurance agents & adjusters as well as residential and commercial property owners (with needs ranging from maintenance cleaning to skilled fire and/or water damage). Their growing contract janitorial business also serves medium to large accounts and businesses with repeat commercial project work. The company often gets referrals from insurance professionals, property managers, large loss claims adjusters, and area contractors (plumbers, HVAC, retailers, etc.) and has a “Preferred Vendor Status” with almost every major insurance company. The company operates out of two locations totaling almost 30,000 square feet. While the operation does not depend on the two facilities, it’s an established location that provides room for expansion (location 2 is only at 60% capacity and location 1 has additional property available for expansion). Business has grown by 20% per year for the last 3 years and based on first quarter numbers, is projecting a cash flow of $775K for 2009. Qualified buyers.

Other information

Reasons for selling:

Other interests

Furniture / Fixtures value:

$557,000 (included in the asking price)

Inventory / Stock value:

$35,000 (included in the asking price)