Hillandale Advisors Announces Sale of Construction Service Platforms

News Summary

Hillandale Advisors, a prominent investment firm based in Charlotte, NC, has unveiled the sale of two construction service platforms, Project Rock and Project Switch, as it capitalizes on growth opportunities in the Southeast construction market. Project Rock is recognized for its high-margin construction management services, while Project Switch focuses on electrical services. With impressive financial projections and robust market presence, both platforms are positioned for future expansion, attracting significant attention from investors and industry stakeholders.

Hillandale Advisors Unveils Sale of Two Prominent Construction Service Platforms

In a bold move to capitalize on the booming construction market in the Southeast, Hillandale Advisors, a notable player based in Charlotte, NC, has announced the sale of two lucrative service platforms: Project Rock and Project Switch. As the firm aims to target growth in a rapidly evolving industry landscape, the details surrounding these platforms and their financial projections are turning heads.

Project Rock: A Pillar of Construction Management

Project Rock stands as a high-margin construction management and design firm recognized for its outstanding profitability. With a history spanning two decades, this firm boasts an impressive projected EBITDA of $5.1 million for 2024, alongside expected sales totaling $12.9 million. This represents an exceptional EBITDA margin between 30-40% and robust gross margins of 80%.

The firm offers a comprehensive suite of services including design solutions—architecture and master planning, engineering planning, and project management—which incorporate construction and program oversight. Its operational footprint spans key metropolitan markets such as Charlotte, NC, with a population of 2.8 million, as well as Charleston, SC, Columbia, SC, Greensboro, NC, and Savannah, GA.

Project Rock has successfully established strategic partnerships with industry giants such as JE Dunn, AECOM, CBRE, and Samet, further demonstrating its influence in the sector. The firm has a significant project backlog valued at $50 million, spanning sectors crucial to community infrastructure, including K-12 education, healthcare, government, and airports. Adding to its appeal, another $20 million in fees is nearing finalization with additional negotiations for $30-50 million in the pipeline.

One of the unique features of Project Rock is its asset-light model, showcasing remarkable efficiency with over 100% returns on capital deployed. This operational strategy positions the firm for continued success as it sets its sights on future growth opportunities.

Project Switch: A Surge in Electrical Services

Project Switch platform emerges as a high-growth contender in the electrical services sector. Anticipating $8 million in sales and $1 million in EBITDA for 2025, Project Switch is poised to grow its revenues by over 50% compared to previous years. This rapid expansion is primarily targeted towards the residential remodel market where it has flourished through customer referrals and an incredible track record—attaining 250 5-Star Reviews within its first three operational years.

Key operating cities for Project Switch include Charlotte, NC, with its substantial population, alongside Raleigh, NC and Greenville, SC, reflecting a strategic approach towards densely populated urban centers. As the company aligns its operations for robust growth, its backlog for 2025 is reported to be promising, catering to a rising demand in the residential sector.

In a competitive marketplace, Project Switch faces notable industry challengers such as Morris-Jenkins, Roby Services, and several others, yet its customer-centric focus sets it apart from the pack.

About Hillandale Advisors

Hillandale Advisors is revered as one of North Carolina’s leading family offices, known for its investments in businesses generating $1-10 million of EBITDA throughout the Southeast. Their diverse portfolio includes notable operations such as Sidekick Therapy Partners, Aiwyn (Accounting/Tax SaaS), and Horizon Roofing & Restoration.

Beyond investment, Hillandale Advisors provides essential services like capital raising, firm valuation assessments, and business exit strategies to private enterprises. The firm actively participates in the Private Business Roundtable, facilitating connections among business owners and investors, aiming to nurture growth across the Southeast’s vibrant economic landscape.

The sale of Project Rock and Project Switch marks a significant milestone for Hillandale Advisors and signals exciting prospects for growth in the Southeast construction and service sectors. Investors and industry stakeholders alike will be keeping a keen eye on how these platforms evolve in an ever-competitive environment.

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