Seeking Senior Debt Partner (~$5M non-SBA debt) for Millwork Business Acquisition in Nevada
October 21, 2025
by a searcher from Babson College in Las Vegas, NV, USA
I'm under LOI to acquire a well-established, 30-year-old commercial cabinetry and architectural millwork business serving the Nevada market. We’re looking for a senior lender to provide a first-lien term loan to support the transaction, alongside our equity investment and a seller note.
Deal Snapshot
Target: ~$9.3M TTM revenue; solid growth from ~$5M in 2021, 23.5% CAGR. ~15% EBITDA margins. No corporate debt.
Customers: Strong 20+ year recurring relationships with GCs in healthcare, high end commercial and institutional markets. Core niche focus in the durable medical end market.
Operations: 25,000+ sq ft plant. Licensed to bid up to $5M jobs. In-place ERP, bottoms up component based standardized pricing, and quality control systems. Non-union labor force. Differentiating AWI QCP certification with laboratory tested product quality standards. Preferred-partner status with several GC's earning them privileged opportunities on pre-negotiated contracts.
Cash Flow: Progressive billing model and just in time materials procurement, with ~85% collected pre-installation which makes for efficient working capital.
Real Estate: Option to acquire or lease concurrently; open to lender-provided CRE mortgage or sale-leaseback.
Machinery: Standard course for cabinetry and millwork: CNC machines and edgebander machines, all in great shape with redundancy built in and strong remaining useful life.
Credit Highlights
Low debt, recurring customers, and systematized ops.
Experienced and long tenured operating team in place; seller will support transition and sign a 5-year non-compete.
Transaction is supported by confirmatory QoE and standard legal diligence.
Ideal Lender Fit
Looking to partner with a lender who understands contractor billing cycles and lower middle market service businesses. Open to structuring a revolver or ABL overlay, if desired. Flexibility on amortization and covenants to match the business’s cash flow cadence.
Timeline
LOI is signed. Targeting a close in Q4###-###-#### Can provide redacted LOI, CIM excerpts, and full diligence package under NDA.
If this sounds like a fit, happy to share more information or jump on a call to walk through the opportunity.
from University of Nevada in Las Vegas, NV, USA
from University of Utah in Sandy, UT, USA