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Government contracts… unions… unpredictable weather… All are factors that could add up to a valuation nightmare. But don’t be afraid! Join Brad Minor of Blue & Co in this session on valuing specialty paving contractors – a program that features a paving company case study. Learn more about how investing in and running heavy equipment impact firm value and other specific considerations you need to master in order to excel in this niche – but widespread – industry. Navigate the value drivers as well as the road blocks for your next paving company valuation engagement.
Program Agenda
Introduction
Discussing differences between specialty contractor valuations and other valuations
Discussing value issues for Specialty Contractors, and
Specifically Paving Contractor issues
Basics of Business Valuations for Contractors
Income approach – yes
Asset approach – yes
Market approach – Consider and use in right circumstances
Key man issues
Officers compensation
Sources of data
Discounts
Specialty Contractor Specifics
Union v. Non-Union
Undisclosed liabilities (i.e. Pension plans)
Governmental v. Non-governmental work
Bid work v. non-bid work
Cyclicality/Seasonality
WIP issues
Advantages of being a “specialty” contractor v. general contractors
Disadvantages of being “specialty” contractor
Paving Contractor Specifics
Competitive bidding
Investment in heavy equipment
Maintenance
Excess assets
Holding costs of to get bigger jobs
Managing equipment
Multiple jobs
Rent v. owning
Selling used equipment
Buying new of used?
Weather related issues
Knowing true cost of utilizing equipment
Sources of industry and comparable information
Safety issues
Marketability discount
Examples
Insurance issues
Conclusion
Learning Objectives
Identify the drivers of value and key operational characteristics of paving contractors
Identify common challenges and obstacles in valuing specialty paving contractors
Associate traditional valuation techniques with paving contractors and how their strengths and weaknesses accommodate for peculiarities in paving contractor valuation
Discuss best practices regarding paving and specialty contractor valuation
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