Business for Sale Overview:
A world-class storage tank manufacturing firm, servicing customers in a wide variety of industries including chemical, oil and gas, petrochemical, print media, and pulp and paper industries. The Company is a specialist in the manufacture of single walled and dual walled corrosion-protected underground and aboveground storage tanks. In addition to its proven manufacturing expertise, this Company also offers proprietary patented technology in its construction of custom oil/water separator tanks. Management is committed to complete customer satisfaction and it is dedicated to delivering the highest possible quality standards within its manufacturing process. The Company maintains a well-planned and organized Web site, providing a wealth of information on its history, product line, and the depth of its manufacturing expertise.
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Property Features and Assets:
The Company’s headquarters, with 58,000 square feet of manufacturing space and 5,000 square feet of office space, is located on 3.2 acres of prime commercial real estate. The Company also operates a 4,500 square foot coatings facility on 4.35 acres of land. The Company-owned land is appraised at $6.3 million and is also for sale given the right terms and conditions.
Market Competition and Expansion:
Management posted revenue of $7.18 million in 2008, which represented a 25% increase over 2007 results. Negative macroeconomic forces, both domestically and internationally, will make 2009 a challenging year in the storage tank business. However, the Company plans to leverage its history and excellent reputation in its industry through expanding marketing efforts and increased sales representation.
The following are potential engines of growth for this Company:
Expansion of direct marketing efforts within its Southern market, with a special focus on expanding the Company’s presence in Florida, where environmental storage tank compliance issues are compelling and favorable.
Increased use and participation of outside sales representatives to market the Company’s products (a concerted search is already underway in the Southeastern U.S. market).
Increased focus and development of business related to the Company’s proprietary patented oil/water separator tank technology.
Exploration and development of growing opportunities in vapor recovery and vapor steam processing.
Expanded presence with the “large project” market involving multiple disciplines including pump, piping, and tank projects (including a major push within the trucking industry relating to storage tank requirements involving diesel emissions fluid).
Exploration and development of growing demand for special UL listed tanks in specific applications such as fuel blending.
Additional future growth will come from an aggressive expansion outside the firm’s current operating base and also from selective strategic expansion of the Company’s product line. Following a recession year for the U.S. and global economies in 2009, management is projecting a return to steady annual revenue growth near 10% per year beginning in 2010.
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.