Not flashy. Not tech. But strong cash flow + real upside. • The market: Residential roofing • The target: High-end homeowners in the Bay Area Let me break it down 👇 This business has been operating for 20+ years and built its reputation almost entirely on trust and referrals. No ads. No social. Mostly word of mouth. That alone tells you something. What do they actually do? Residential re-roofing, inspections, repairs, gutters, emergency work. ~50% of revenue comes from real estate inspections and repair jobs tied to home sales. That keeps work steady even when big projects slow. Client profile matters here. Homes are typically $1M–$15M+. Customers care more about quality than price. This supports margins and repeat work. Now the numbers (this is where it gets interesting): • Avg revenue (last 3 yrs): ~$2.1M • Avg adjusted EBITDA: ~$400K+ • Asking price: ~$1.5M • Multiple: ~3.6x • Projects/year: ~200 • Avg ticket: $20K–$100K This is not a volume game. It’s a premium service business. Team is another big plus: ~13 W2 employees Experienced roofers, long tenure No contractor chaos Payroll is clean, systems are simple Financially, the business is healthy: • No supplier debt • Net 0 terms with main vendors • Customers pay 50% upfront, 50% on completion Cash flow discipline is strong. Why is the owner selling? Retirement. Owner is willing to stay 1–2 years for transition, help with licensing, relationships, and handover. That lowers execution risk a lot. What I like as an analyst: • Referral-driven demand • Strong real estate agent relationships • Premium customer base • Survived 2008 + COVID • No legal issues • Clean books Where can it improve? • Very old-school tech (Excel, PDFs, QuickBooks) • No CRM, no estimating software • No digital marketing at all • Limited geography by choice • No weekends (agents are active then) These are not problems — they’re levers. With a motivated operator, you could: • Expand service area • Add light commercial work

This is not SaaS. This is physical equipment, inventory, dealers, and margins. Let’s break it down 👇 This business is mainly a distributor of loaders + attachments. Loaders are lower margin (~25%), but attachments are strong (~40%). They sell through dealerships and rental companies across multiple industries. That mix matters. 3/ What makes it interesting: They brought a foreign manufacturer into the US and built the market here. Early years were heavy investment. Now the groundwork is done and sales are picking up. That timing is important. Financial snapshot: • Revenue: ~$7.2–8.3M • EBITDA (normalized): ~$617K • SDE: ~$1.15M • Inventory (cost): ~$3.8M • Gross margin: ~41% This is an asset-heavy, operator business. Inventory is a big part of the value. Retail value is much higher than cost. They also have exclusive distribution rights and 30+ years goodwill. Not easy to replicate quickly. Where it can improve (my take): • Push accessories harder (best margins) • Improve dealer productivity • Add stronger sales management • Build recurring parts & service revenue Right now it’s built to grow, not optimized yet. Risks to know: • Capital intensive • Customer concentration (top 10 ≈ 55%) • Needs strong execution • Not a passive deal This is for an operator or platform buyer, not hands-off. Owners say clearly: “With more capital, we’d stay another 5 years.” They hit a growth ceiling, not a demand problem. If you want the IM + deeper numbers, DM me “EQUIPMENT” and I’ll explain how to access this deal and others like it.

Here’s one I’m reviewing now. Market: Manufacturing / Alcohol & Spirits Accessories Target: Established niche manufacturer Plan: Operational cleanup + channel focus Here’s the breakdown 👇 This is a 26+ year old manufacturing business serving the wine, whiskey, bourbon, and spirits market. They produce oak barrels, aging kits, and custom products used by: • Home enthusiasts • Distilleries • Breweries • Gift shops • Online buyers (Amazon-heavy) This is not trend-based. It’s physical, boring, and proven. Interesting part? They manufacture over 100,000 units per year, hold patents and licensing, and operate with a small team after recent restructuring. This is a real factory business, not just branding. Customers are sticky. Once distilleries, bars, or hobbyists find a barrel supplier they trust, they don’t switch easily. Quality matters a lot here. Returns and complaints are expensive in this category. Repeat buyers are common. Revenue model is diversified. Sales come from: • Amazon • Website • Wholesale • Festivals • B2B distillery orders No single customer concentration risk. Financials are solid, but not perfect. Revenue history: • 2022: ~$4.9M • 2023: ~$3.4M • 2024: ~$4.0M There was a dip, then recovery. Not ideal, but explainable. Key change happened in 2025. The owner: • Cut staff by ~50% • Reduced warehouse footprint • Focused heavily on Amazon FBA • Streamlined operations Result → higher profitability, not just top-line growth. SDE (owner earnings): • 2022: ~$838K • 2023: ~$504K • 2024: ~$417K 3-year average ≈ $495K For manufacturing with IP, this is respectable. Asking price: ~$1.95M - ~$300K inventory - That’s roughly 3.9x SDE. Not cheap. Not crazy. Fair if margins continue improving. Why hasn’t this business scaled more? The owner is deeply involved in: • Product development • Design • Marketing decisions Great for quality, bad for scale. This creates opportunity for a new operator. Where I see upside 👇 • Narrow SKU focus to top sellers

Owner works ~10–15 hrs/week. Management team runs daily ops. 💰 Financial Highlights: • Revenue (TTM): ~$6.3M • Earnings (TTM): ~$1.55M • Asking Price: ~$5.6M • Multiple: ~3.6x • Includes $3M+ in equipment • SBA-eligible 🌱 What Makes This a Strong Deal? ✅ ~2,000 active customers ✅ ~90% recurring revenue ✅ 75% commercial / 25% residential mix ✅ One-stop shop (lawn, landscaping, sprinklers, snow, more) ✅ Pricing in top 20% locally — still turning customers away This is not a small “mow & go” operation. 💡 Growth Potential: 📌 Add more crews (currently waitlists + rejected demand) 📌 Expand to nearby cities 📌 Improve digital marketing (mostly referrals today) 📌 Push higher-margin services harder (sprinklers, landscaping) Demand > capacity right now. ⚠️ Things to Watch: • Seasonal business (busy Mar–Nov) • Labor law change temporarily raised payroll in late 2025 • Needs clean underwriting on normalized payroll for 2026 None are deal breakers, but they matter. 🔧 Operational Upside: • Better routing & scheduling tech • KPI tracking by service line • Convert more residential into annual contracts • Professionalize reporting for scale or roll-up Plenty of low-risk improvements. 🔥 Why This Is Interesting: Landscaping + lawn care is a massive, boring, cash-flow industry. Contracts, real assets, real people, real EBITDA. Exactly the type of business many buyers say they want. 🏷️ Seller wants to focus on another business. Team is staying. Business is ready for a new owner. Want the full IM breakdown, deal structure thoughts, and how I’d underwrite it? DM me or comment “IM” and I’ll share more.

https://youtu.be/BjcZEJUWnqg