This Boston-based company provides life safety fire door inspection, repair and replacement services to one of Boston’s premier hospitals and healthcare providers. Currently life safety work is over 50% of total revenue. The owner is working to expand fire door services into several additional Boston healthcare institutions.
The regulatory-driven annual fire door inspections require documenting defects and repairing or replacing failed units as part of the yearly certification process. No state licensure is required, instead inspectors must take a 3-day training course.
In addition, the business works with facilities management departments, providing small to medium-sized mission critical specialty contracting and remodeling services on a non-competitive price basis.
25% of EBITDA comes from 50% markup on products, materials, and supplies used in project work and sold directly to in-house facilities shops and maintenance departments.
Subcontractors execute the majority of the work while the owner focuses on business development, client maintenance, project management, and administration.