Leader in Structural Repair serving Milestone Compliance

Business Description
Project Seal is a leading provider of structural and foundation restoration services, to meet state Milestone requirements, throughout North Florida, generating over $5.1M in revenue and $1.9M in adjusted EBITDA as of TTM August 2025. Serving coastal North Florida for more than three decades, the Company has established itself as an industry leader illustrated by their backlog, percentage of repeat customers and double-digit revenue growth. The Company’s comprehensive restoration service offerings include waterproofing, foundation and structural repair, structural shoring, spalling, and dry rot repair. With a $7M+ backlog and accelerating industry tailwinds driven by regulations and insurance compliance, the Company is poised for significant growth in 2025 and beyond.

Strong Sector Tailwinds:
The structural restoration and renovation industry is set to grow at a 6.4% CAGR through 2030, fueled by regulation, aging infrastructure, insurance requirements, and severe weather.

Innovative Business Model:
Using an asset-light model with 3rd party sub-contractors, The Company achieves superior financial and cash conversion metrics, lower liability and insurance costs, scalable revenue, and higher quality work.

Superior Financial Performance:
With YTD August 2025 at a 25% revenue growth YOY, 37% Adj EBITDA margins, and a negative cash conversion cycle, all highlight the strength of the business model.

Premier Reputation:
Marketing spend down 66% in 2025, with 55% of YTD revenue from repeat customers and a $7M backlog highlighting The Company’s strong reputation.

Regulatory-Driven:
Florida Milestone laws requiring 3-, 5- and 10-year commercial property inspections create a steady demand for The Company’s services.

Geographic Location:
Based in coastal North Florida, The Company is well positioned to benefit from industry, environmental, and regulatory demand drivers.

Jim Graf | (414) 704-7463
jgraf@wpbizbrokers.com

The information contained herein is believed to be correct, but should be independently verified. No warranty or representation is made with regard to such information. All prices are subject to change without notice and property is subject to prior lease, sale or withdrawal from the market without notice.