SL Sibert Management & Construction Inc.
S.L. Sibert Company, Inc., owned by Sam Sibert was founded in 1990, to provide profitable underground utility construction services to electrical, water and gas services for residential and business customers in the North Texas area.
The Underground utility construction industry involves installation, replacement and repair of electrical, water, sewer, gas and phone lines. Our market in the north Texas area is vibrant and is being driven by the construction boom in residential housing.
While striving to achieve a profitable return on the deployment of our assets, we are committed to conducting business with integrity and high ethical standards in our relationships with customers, stakeholders, employees and creditors.
Our customers are the reason we exist. We work hard to build positive customer relationships by providing valued products and services. We compete vigorously for profitable business and view competition as an opportunity.
Excellent employee performance makes success possible. We communicate openly and honestly and treat everyone with respect. We encourage individual initiative , innovation, and development of technical competence. We encourage and build on the diversity of people, their ideas and perspectives. At SL Sibert Company, we are Servant Leaders - it's a way of life that is deeply ingrained in our culture and our business. Good leaders understand that they serve those they lead. They are a teacher‚ a source of information and knowledge‚ and a role model more than a giver of directions or a disciplinarian. Leaders see things through the eyes of their followers.
In other words, every Partner is empowered to become a leader by first serving and then, through conscious choice‚ leading.
We help our Partners grow by valuing individual differences, talents, and strengths. Our commitment to this philosophy has created an organization and environment of trust.
- A Leader in Power and Gas Construction
S. L. Sibert Company, Inc : A Historical Perspective
S.L. Sibert Company, Inc., and several of its executives have been involved in providing underground utility contracting services for over 20 years. Mr. Sibert, President, has 13 years prior industry experience before founding The S.L. Sibert Company in 1990.
The S. L. Sibert Company is a top competitor in the underground utility services industry.
We are premier providers of electrical, gas and water and sewer services. We are among the first to perform and among only a few companies in the North Texas area capable of underground boring for water, gas and electrical services.
A significant success factor of S. L. Sibert Company, Inc. is our openness with people. We are willing to embrace new ideas and technology. We focus on our goal of building a profitable business for which Mr. Sibert could be proud. Another significant factor in the success of the company is our ability to develop long-term mutually beneficial relationships. Mr. Sibert has developed and nurtured a relationship with one of our significant major customers, Texas utilities, for over 24 years. We have several employees who have worked with Mr. Sibert for well over 15 years. Several of our key employees have been with the company for the entire life of the company, demonstrating our commitment to providing excellent service and loyalty to our employees and customers. Our success is made possible through our exceptional employees. The company has grown to employ over 140 people.
Several years ago, our primary customer, Texas Utilities, reorganized its business practices, along with many large corporations throughout the world. During this process, it was determined that the number of contractors providing the kind and type of services that we provide would be reduced. The number of contractors was trimmed from 54 to 6.
S. L. Sibert Company is among 6 (six) contractors presently providing gas and electrical services to Texas Utilities. The partnership between TXU and S. L. Sibert began in 1985 after signing a blanket contract to provide electrical system construction.
In 1999, The Company was awarded a long-term 5-year Alliance partnership contract. Gas services were added to its rapidly expanding range of capabilities when the Alliance Contract was signed with TXU-Gas in 1996. This contract provides for renewal at the end of the initial 5 year period.
The Company experienced its most profitable period for the fiscal year ended December 31, 1999, Revenues exceeded $5,500,000 with gross profit margins exceeding 50%. The Company experienced its most significant growth.
Early during fiscal year 2000, investments were made in excess of $500,000 in its own building and office complex located at 5000 Martin Street. FTW, TX. During the same time period, our major customer reorganized and requested that the company perform gas services. The company over the last two years has completed repositioned from primarily electric service to gas and electric.
Substantial investments have been made in personnel and equipment to provide the level of competent service delivery that we experience today. Our Current Challenges are directly related to these two prior events.
The Company is currently facing several challenges. We are re-financing of our long- term leases, which were used to finance construction equipment and trucks. In addition, we are re-financing our office and warehouse complex. We are seeking a line of credit facility of $500,000 to replace our current factoring line. This new facility along with the re-financing of our long-term leasing obligations will reduce our monthly cash outlay by approximately $20,000. We are currently implementing new management information systems (Computer Ease) designed to improve production and administrative office efficiency.
We are reviewing our business processes to determine improvements in profitability as we take the company to its next level of growth. Revenues for the period ended December 31, 2001 were approximately $5,000,000. Revenues for the current year are expected to exceed $6,000,000. Revenues for December 31, 2003 are projected to be $6,300,000. We are improving our profitability by increasing our sales, reducing overhead and expenses, and improving production efficiency. We expect 15% growth in our current customer base by improving our customers ability to assign work to be prosecuted under our present contract. We have expanded our services offering to include Engineering Services by acquiring Phoenix Design Build, an engineering firm. We are projecting substantial growth to be Engineering services.
S.L. Sibert Company’s customer base includes providers of utility services for gas and electrical, local city governments, builders of commercial and residential projects.
Our significant customers include, TXU, Oncor, ATMOS, ONG, and ONEOK for electric and gas, City of Fort Worth, City of Lake Worth, City of Colleyville, City of Dallas and City of Lake worth.
TXU is a global leader in electric and natural gas services, merchant energy, trading, energy marketing, energy delivery and energy-related services. With $55 billion in assets and $28 billion in annual revenue, it is one of the most influential energy services companies in the world.
TXU is the No. 1 competitive energy retailer in the U.S. and one of the largest in the world. The company owns or controls extensive competitive generation around the world and is a leading trader globally. TXU, which sells 335 terawatt-hours of electricity and 2.8 trillion cubic feet of natural gas annually, serves 11 million customers worldwide, primarily in the United States, Europe and Australia.
TXU owns and operates 14,000 circuit miles of electric transmission lines; 9,005 miles of natural gas transmission lines; and 26,000 miles of gas distribution pipelines.
Oncor is one of the nation's largest energy providers. Oncor manages the delivery of natural gas to 1.4 million customers over 30,000 miles of natural gas pipeline. Oncor offers fully integrated energy and related service in the U.S. Texas one of the nation's most attractive economic markets, with record population and economic growth is the primary Oncor market., The Texas market includes serving 1.4 million natural gas customers and 144 billion cubic feet in sales.
The primary goal of many of our municipal customers is to provide safe and reliable water and wastewater service while maintaining environmental integrity. Our city government customers must make infrastructure improvements to meet the demands of the changing demographics of the north Texas area.
Older cities have mature infrastructure which must be maintained, while newer fast growing areas such as Colleyville, Southlake and Lake Worth are building new infrastructure to accommodate commercial and residential water and sewer service growth.
Infrastructure maintenance programs are conducted often by the various cities to evaluate and correct water service and wastewater collection system deficiencies. Generally consultants are hired to perform comprehensive inspections and evaluations of delivery and collection lines, manholes, etc. and recommendations are made for new projects to be under taken.
Colleyville, Lake Worth, and Southlake are among the fast growing areas in Texas. These City’s are rapidly building and maintaining water and sewer infrastructure.
"Attached is a letter of support from TXU's CEO Erle Nye"
The S.L. Sibert Company is strategically positioned in terms of customer relationships, technically, and politically to participate significantly in the rebuilding of our market area’s infrastructure. The department of transportation and the federal government has promulgated that thousands of miles of deteriorating gas line infrastructure throughout America be replaced early, The federal government and the Texas Railroad Commission published requirements that owners of underground gas lines assess “cast iron” gas piping and developing a program of replacement.
Our customer, Oncor, owns 3,000 miles of cast iron or “Bare steel” piping in the North Texas area. The majority of this piping was installed during the 1920’s, with almost all being installed before the end of WWII. After the war and during the 1950’s “coded steel” or treated steel was installed.
These lines are underneath roads, concrete and old established neighborhoods. Boring, one of our core technical competencies is ideally suited for these conditions. It is anticipated that Oncor will replace 300 miles in the Texas area. Total Oncor replacement cost, for the State of Texas, for approximately 3000 miles, will exceed $1.5 billion.
The Company is expanding its relationship with TXU to include installation of Developer installed (D.I.P.) gas and electric piping. The Company is an approved installer. Developer installed piping is the process that allows commercial and residential developers install electrical and gas utilities in subdivisions, utilizing TXU approved contractors. As a TXU approved contractor, S.L. Sibert Company works directly for the developer. Agreements between developers and TXU govern the transfer of ownership of gas and electrical lines to TXU. Developer installed piping will increase our number of customer, market presence, and market share. Our new market will include electric and gas distribution systems.
S.L. Sibert Company, Inc. is pursuing a strategic alliance with Parsons Corporation. Parsons Corporation is one of the world’s largest full-service engineering and construction organizations. Revenues exceeded $2.4 billion with 13500 employees worldwide. The company is divided into three main divisions: energy and chemicals, infrastructure and technology and transportation. These divisions operate in many diverse markets, including petroleum and chemical processing, environmental, power, water and wastewater treatment, ground transportation, aviation, pharmaceuticals/biotech, government, manufacturing, telecommunications and community development projects. We are ideally suited to partner with Parsons in the North Texas area, competing for major power, water and wastewater projects.
The Company is aggressively marketing and biding water and water waste request for quote and request for proposals offered by the cities and municipalities throughout the North Texas area.
High Pressure Gas Pipeline construction
Rock Trenching on construction of Alliance Airport
Sewer line under contruction
Electric and Gas Vehicles and Equipment
Construction Water and Sewer Fleet
S.L. Sibert Company, Inc.
65 Light and Heavy Trucks
2 Caterpillar 320/300 Heavy Excavators
16 Caterpillar Backhoes 416/516
2 Caterpillar Round Construction Wheel Loader
2 Mack Heavy Construction Haul Units
3 Vermeer Directional Boring Machines
(711-light weight, 1620 heavy duty)
3 Conventional Boring Units
2 Ditch Witch Horizontal Boring Unit J2321
1 Vacu-Tron Truck Unit
2 T655 Vermeer Heavy Rock Trencher
4 8550 Tractors
14 Mini Excavators
6 Electrical Cable Pulling/Cable Placement Machines
Gas Tools/Specific Fusion Equipment
Miscellaneous Compressors, Generators, Tamping Units etc…
Technical instruments, meters, and scopes