Business Overview:
The Business for sale is a growing business providing environmental, geotechnical and geothermal drilling services to a wide range of customers throughout the eastern United States. The company is poised to achieve revenue near $10 million and EBITDA(Earnings Before Interest, Taxes and Depreciation, Depletion and Amortization) near $2.14 million in financial year 2011 with a staff of 45 full-time employees. Operates with a comprehensive modern and well-maintained equipment base. Its bonding capacity is five times the Company’s working capital per job. Maximum overall limit is ten times working capital. Project invoices range from $1,000 for environmental, geotechnical and other drilling projects, to between $400,000 and $1.8 million for geothermal projects. The customer base includes construction firms/general contractors, schools and a wide variety of other institutional and commercial clients throughout the eastern United States. Leases a 7,640 square feet facility from a related party at a fair market rate. Following a sale, owners and managers are committed to remaining with the firm for an agreed-upon period to help the Company realize its proforma objectives.
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Property Features and Assets:
Operates from a 7,640 square feet facility situated on a 2.6 acre lot. The facility is leased from the owner at the fair market annual rate of $90,000.
Market Competition and Expansion:
The Company is well positioned to take advantage of the positive growth forecast for its industry. Its 14-year record of providing the highest quality services to its customers remains the key to its continued growth and success. Management has successfully steered the company through the worst economic recession since the 1930s and despite obvious challenges in the current macroeconomic environment, this company is expected to post revenue near $10 million in financial year 2011 and EBITDA near $2.14 million. These strong projections are supported by very positive discussions between management and the company’s major customers and vendors. Management believes considerable growth potential exists via service and geographic market expansion. The company is working on expanding its business to include environmental sonic drilling services. In addition, management believes that there are significant opportunities for entrance into neighboring geographic regions.
Reason for Selling:
Pursue growth
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
Resources: