Commercial Construction Turnaround Assistance

[Victor Olowu]

I am currently working on turning around a commercial construction specialty/trade contractor business in Austin TX.  Business got crushed by COVID in 2020 and 2021 due to projects being postponed/cancelled, equipment delivery delays, etc.  I've been able to grow it's revenue 67% last year and on pace to exceed 30% revenue growth this year, and be profitable again for the first time in 3 years.  My main change has been getting the business qualified to work directly for large general contractors instead of working with their subcontractors.  I have also prioritized getting the business selected as a preferred HUB vendor by public agencies like City of Austin, UT, Austin ISD etc. so that we win more bond program construction projects, since those have committed capital from federal and state dollars and not as likely to be paused if the economy slows down.  The business now has a large backlog of won projects for 2023 and beyond, but short on cash.

If anyone has gone down this road before, especially on the commercial construction side, please share your insights either here or message me.  I am also looking for equity injection to reach our expansion goals while turning the business around, if any investors like this space.