Marathon Shores, LLC
Marathon Shores, LLC Marathon Shores, LLC
  
Marathon Shores, LLC
Marathon Shores, LLC
Marathon Shores, LLC
 
Residential Property Service

Marathon Shores, LLC represents a Midwest based company that provides construction and preservation services for residential properties.

From it’s inception in 2012 through 2014, the Company grew organically and was profitable servicing Single Family Homes being marketed by lenders, agents and owners. Beginning in 2015, in an effort win contracts servicing a growing inventory of distressed properties held by the U.S. Department of Housing and Urban Development (HUD), the Company added substantially to its workforce and overhead.

While generating substantial revenues, as a HUD sub-contractor, ineffective operations and fiscal oversight resulted in substantial losses in 2016.

Business Turnaround

Beginning in December of 2016, the Company took major steps to correct operations and re-focus on strategies that fostered its early growth. The Company has restructured from a HUD sub-contractor to a full-service residential services company. After two years of accounting issues related to HUD contracts, the Company terminated the 2015 HUD subcontract in 2016 and received an exit payment of $550,000.   Also in 2016, the Company engaged a seasoned housing services professional to serve as its President.

Under this new leadership, the Company has returned to profitability and established strong business relationships that will fuel future growth.  As a result, the Company has also solidified its banking relationship and renewed its credit facilities.    

Investment Opportunity

The Company is seeking an investment of $1,750,000 with a 6% non-voting 5-year Preference Stock, with a 1-x preference.   The Preference can be exchanged at anytime into 25% of the voting common shares of the Company based on the market value established at close of the anticipated transaction. At the Company’s discretion, dividend payments will be paid annually (should there be sufficient cash flow) or deferred (payable the earlier of maturity or on exchange into voting common shares).

Consolidated Summary Financial Information
*Projections (000’s omitted)

  2016 2017 2017* 2018* 2019* 2020*
    (Oct YTD)        
Revenue $10,662 $7,816 $8,850 $6,503 $7,305 $8,036
Net Income ($1,212) $544 $556 $390 $601 $809
EBITDA ($907) $702 $770 $558 $785 $1,052

For more details and to receive a full offering memorandum, please email David C. Banker.

Marathon Shores, LLC
Marathon Shores, LLC
Marathon Shores, LLC
Marathon Shores, LLC

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