Multi-State Parking Lot Maintenance and Striping Company
This article explores the strategic acquisition and scalability of a commercial parking lot maintenance and striping business operating across multiple states in the southeastern U.S. The company specializes in parking lot re-striping, sealcoating, crack filling, ADA compliance layout, signage installation, and small asphalt repairs. It services national retail chains, regional shopping centers, REIT-owned assets, industrial parks, municipalities, and hospital systems—most of which are recurring clients with annual or biannual maintenance cycles.
With $6.1 million in annual revenue and $1.14 million in adjusted EBITDA, this business presents a compelling acquisition opportunity for a buyer seeking recurring contract revenue, low capital intensity, and a predictable seasonal labor model. Over 70% of jobs are repeat clients with pre-negotiated pricing, often routed via national facility management companies or property managers. Clients value the company’s ability to complete large, multi-acre jobs overnight or during low-traffic windows with minimal disruption.
The business is an excellent fit for SBA 7(a) financing and supports further expansion through geographic coverage, equipment-based add-on services (such as snow plowing), and subcontractor network optimization. It is also uniquely positioned to consolidate smaller striping operators, offer turnkey compliance services, and pursue government bids for curb and asphalt maintenance.
Proposed SBA 7(a) Deal Structure
Due to consistent EBITDA, asset-backing through equipment, and contractual customer relationships, this acquisition supports a standard SBA 7(a) structure:
Purchase Price: $4.56 million (4.0x EBITDA)
SBA Loan: $3.42 million (75%)
Buyer Equity Injection: $456,000 (10%)
Seller Financing (Subordinated): $684,000 (15%), amortized over 6 years, with 12-month interest-only
Performance incentives and protections:
20% seller note clawback if more than 10% of national facility contracts terminate within 6 months
Seller earns $75K performance bonus if buyer retains 95%+ of existing client revenue through next annual cycle
Seller agrees to remain as transition advisor and subcontractor coordinator for 9 months
Client Segmentation and Revenue Profile
Customer composition:
National retail (CVS, Aldi, Walmart, Lowe’s, etc.): 34%
Commercial real estate management groups: 28%
Hospitals, universities, and school districts: 16%
Municipalities (curb painting, public lot maintenance): 12%
Industrial and distribution centers: 10%
Service mix:
Line striping and restriping: $2.4M
Sealcoating: $1.7M
Crack filling and patching: $780K
ADA upgrades (curb ramps, signage, truncated domes): $520K
Signage installation and bollard work: $460K
Thermoplastic road marking: $240K
Contracts are often bundled with other lot improvements and executed on pre-approved schedules with 24-hour turnaround requirements. Clients provide multi-site work orders through FM platforms like ServiceChannel, Corrigo, and SMS Assist.
Top 25 clients account for 63% of revenue. No single client represents more than 6.8%.
Operations and Route-Based Deployment
Field labor model:
3 full-time in-house striping crews (4 people per crew)
4 subcontractor-based crews for out-of-state or overflow work
2 sealcoating teams (in-house) and 1 crack filling crew
1 overnight compliance crew for ADA and curb painting
2 schedulers/estimators and 1 compliance QA tech
Jobs are routed nightly with project loads assigned to geographic zones. Most jobs occur between 10 PM and 6 AM to avoid customer traffic. All crews use GPS tracking and report job completion via mobile inspection tools with time/date-stamped photos.
Technicians receive hourly pay plus job completion bonuses and nightly incentives during peak season (April–October). The company retains 90%+ of its seasonal crew leaders annually due to its bonus structure and off-season work with partner snow removal firms.
Fleet, Equipment, and Facilities
Fleet and equipment:
5 striping trucks with mounted paint machines (Graco and Titan)
3 sealcoating rigs (tanker and trailer-mounted)
2 crack filling kettles (Cimline Magma)
2 ADA compliance vans with ramps, stencils, domes, and signage kits
FMV of owned equipment: ~$870,000
Facility:
7,200 sq ft warehouse with:
Paint storage and EPA-compliant waste area
Equipment servicing bay
Office and dispatch center with job board and route monitors
Employee break room and gear lockers
Real estate is leased at $7,500/month with 4 years remaining and a 5-year renewal option. Site is zoned for Class B commercial equipment storage.
Planned CapEx:
Replace 2 aging trucks: $90K (lease option)
Upgrade drone mapping and measurement tech: $12K
Add second crack fill rig for new geographic territory: $60K
Sales and Marketing Engine
Current sales model:
Inbound RFPs from ServiceChannel, Corrigo, and integrated vendors
Facility manager referrals and repeat buyers
Google Ads targeting "parking lot striping + city"
SEO-optimized blog for ADA compliance and signage changes
Relationship with national REIT portfolio managers and FM directors
Annual marketing spend: ~$48,000
Growth initiatives:
Hire national account rep to pursue multi-state FM clients directly
Bid for regional airport and city transit striping contracts
Expand digital proposal platform to allow instant site quotes via Google Maps overlays
Bundle with snow plowing services in cold-climate satellite markets
Launch ADA compliance audit and upgrade program for CRE and public entities
Financial Summary
Revenue: $6.1M
COGS (labor, paint, fuel, subcontractors): $3.26M
Gross Profit: $2.84M
SG&A: $1.7M
Adjusted EBITDA: $1.14M (18.7%)
Margin by service:
Striping: 50–55%
Sealcoating: 45–48%
Crack filling: 40–50%
ADA and signage: 55–65%
Emergency service upcharges: 60–70%
Seasonality is managed with over-winter subcontracting and a snow services partnership that provides crew hours and storage rent sharing during low season. The company books 60%+ of the year’s revenue in Q2 and Q3.
Compliance and Risk Management
OSHA-trained technicians with PPE usage monitoring
EPA-approved paint disposal and washdown containment protocols
Fully insured: $2M GL, $1M auto, $1M umbrella, $1M workers comp
DOT numbers and intrastate licenses active in 5 states
No outstanding environmental violations or litigation
Clients require insurance proof, lien waivers, and completion photos. Some government contracts mandate e-verify and certified payroll. The company maintains a 96% on-time job completion rate over 24 months.
Working Capital and Transition Budget
Payroll float: $120K–$140K
Equipment upgrade and replacement: $100K–$150K
CRM and proposal tool integration: $10K
Seller transition and consulting: $35K–$40K
Sales rep hiring and territory development: $60K
Ideal Buyer Profiles
Route-based service operators with night shift crew experience
Asphalt, paving, or facilities maintenance entrepreneurs
PE-backed roll-up targeting property maintenance services
First-time buyers with ops management or dispatch backgrounds
Post-Close Execution Plan
Audit all repeat client contracts for margin and route optimization
Deploy second shift in key metro market to reduce travel miles
Bid on city and county road contracts using thermoplastic equipment
Hire national sales rep and pursue master service agreements
Add ADA compliance audits to all commercial job quotes as upsell
Conclusion
This multi-state parking lot striping and maintenance business delivers reliable, high-margin revenue through route-based, compliance-driven services. With SBA 7(a) financing, a qualified buyer can secure a defensible asset-light operation with night shift labor efficiency, loyal national customers, and minimal client churn. Strategic value lies in scaling regionally, acquiring smaller operators, bundling services, and locking in contracts under national facility management systems. For the right buyer, this is a playbook-ready platform for long-term, recurring cash flow with a clear expansion path.
