SOLD: Tech-2592: Well-established, Profitable Environmental Laboratory in New England


Well-established, Profitable Environmental Lab in New England
Solid year-to-year Growth, Excellent Growth Potential

-Established: 2000
-Services: Analytical Lab Services, IAQ, Govt. Projects
-Number of Employees: 28 (21 FT, 7 PT)
-Facility: 7,500 sq. ft. leased space
-Revenue: 3.32M (2022), 3.45M (2023 proj), 3.9M (2024 forecast)
-Adj. EBITDA: 592K (2022), 624K (2023 proj), 706K (2024 forecast)

Our Client has provided environmental laboratory services in New England for 20+ years. It has gained a solid reputation in the industry by focusing on excellent technical services and exceptional customer service. It offers a broad range of air, water, and soil services. Therefore, it has become a go-to one-stop shop for many clients.



The Lab’s services include:

  • – Analytical Laboratory Services. It is for municipal and industrial monitoring, home water testing, site investigations, petroleum contamination studies, waste characterization, and disposal analysis. The services include testing air, water, soil, and hazardous materials such as volatile organic compounds (VOCs), heavy metals, pesticides, PCBs, etc.
  • – Indoor Air Quality Investigations. This service targets residential homes, municipal buildings, schools, hospitals, government facilities, OSHA compliance projects, and other settings. The ACAC-certified IAQ team of the Lab specializes in measuring and analyzing the levels of environmental contaminants such as mold, lead, asbestos, legionella, carbon monoxide, allergens, chemicals, etc. It provides a maintenance plan based on the findings.
  • – Government Projects Work and Management. The work involves renovation and construction projects for Government, Industrial, and Commercial clients. The scope of services offered by the Project Management team includes conducting geotechnical investigations, hazardous materials including lead dust removal, PFA, asbestos and mold investigations, replacement of HVAC insulation, office renovations, etc.

Beginning in 2023, the Lab has cut down on Federal Project Management work and focused more on Laboratory Services. It often works on Federal projects as a sub-contractor. In 2023, about 91% of its revenue is from the Laboratory Services and the balance from IAQ projects.


The Lab has received four lucrative contracts from State Governments, resulting in solid growth projections in the coming years. These started this year. Whereas one contract was for 2023, the others last for two to five years (renewable after their term). The total value of these contracts is $3.4 million.


The following table shows the revenues by four main customer segments – Consulting Engineering Firms, Federal / State / Municipal work, Residential work, and Industrial Clients.

Customer Segment % of Revenue
Consulting Engineering Firms 60.56%
Federal, State, Municipal 13.07%
Residential 4.80%
Industry 9.01%


As seen in the table below, the Lab has been showing consistent growth year after year, fueled by recent contracts as described above, based on the Lab’s strong reputation and performance.

The Company has a revenue of over $3 Million since FY 2021 and has maintained a growth rate of 6-8% in previous years. The Company has held a Gross Margin of around 50% in the last two years and currently has over 18% of Adjusted EBITDA Margin.

(All figures are in $)

FY 2024


FY 2023

Full Year Proj. 

FY 2023


FY 2022 FY 2021 FY 2020
Gross Revenue 3.9M 3.45M 2.2M 3.3M 3.1M 2.9M
% Growth 13.0% 3.8%   8.3% 6.6%
Gross Profit 1.13M 1.17M 1.45M 1.22M
% of Total Revenue 51.7% 51.6% 47.2% 42.2%
Adjusted EBITDA 706K 624K 395K 592K 498K 312K
% of Total Revenue 18.1% 18.1% 18.1% 17.8% 16.2% 10.9%


The Sellers have worked hard for the last 20+ years to bring this Lab to this level and maintain an excellent market reputation. They are looking for a strategic buyer who can take the Lab to the next level while preserving their legacy of responsive service. They are looking for a fair price considering the Lab’s strong financial performance, reputation, and growth potential.

(When inquiring about this lab, kindly use your business email and provide some background about you and your company. Thanks.)

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