Kansas City, Missouri, United States
Kansas City, MO, US
Midwest / Commercial Grinding Business / ADD ON / $2.56MM ADJ EBITDA
Company Overview
The business is a specialized infrastructure services provider focused on asphalt and concrete milling across key Midwestern markets. Operating as a critical subcontractor to paving contractors, the company removes and prepares surfaces for roadway and parking lot resurfacing projects, serving both public sector agencies and blue-chip commercial clients.
The platform has developed a strong competitive position within a niche segment characterized by high barriers to entry, including specialized equipment requirements, union-trained labor, and long-standing relationships with departments of transportation and national accounts. The business benefits from a preferred vendor model, where paving contractors repeatedly outsource milling work to trusted partners, creating durable, repeat project flow and limited competitive bidding pressure.
Revenue is diversified across public infrastructure and private commercial work. Public sector contracts provide volume stability through multi-year budgets, while commercial projects deliver premium pricing and faster payment cycles. As shown in the revenue mix charts on page 4, approximately 60% of revenue is derived from public sector work and ~40% from private customers, with a balanced mix of full-day and partial-day engagements driving consistent utilization. 
Operationally, the company runs a scalable, asset-backed model supported by a fleet of specialized milling equipment, experienced crews, and centralized administrative functions. With dual operating locations and the ability to share equipment and labor across markets, the platform maintains high utilization and operational flexibility. The business has demonstrated consistent growth and profitability, positioning it as an attractive platform within a fragmented and consolidating infrastructure services market.
Key KPIs
• Revenue: ~$12.41M (TTM 2025) 
• Revenue Growth: +55% (2022–TTM 2025) 
• 2026E Revenue: ~$13.65M 
• Adjusted EBITDA: ~$2.56M 
• Adjusted EBITDA (2026E): ~$2.87M 
• Adjusted EBITDA Margin: ~20–21% 
• EBITDA: ~$2.39M 
• EBITDA Margin: ~19% 
• Gross Margin: ~55% 
Contracted Visibility & Scale:
• 2026 Contracted Backlog: ~$9.64M 
• Average Ticket Size: $20K–$26K (full day) / ~$12K (partial day) 
• Bid Win Rate: ~45% on 550+ annual bids 
Operations:
• Equipment Fleet: 17 milling machines + supporting fleet 
• Employees: ~34 personnel