Owner Financing is Available!
Business Overview:
Prior years' revenue/discretionary earnings: 2008 $7,482,740/$1,314,824 --- 2007 $5,883,116/$977,006
Company specializes in structural steel rolling and forming; skids and modules formation; machining and miscellaneous ironworks; piping fabrication and industrial coatings application, proficiency in retrofits and plant maintenance, pipe bending up to 20" diameter (1/2" thickness max.) as well as I-beams up to 36"! This gives them perhaps the largest bending size capacity of any fabricator on the West Coast. Clients served in manufacturing, food processing, power generation, chemical processing, pulp and paper, pharmaceutical and refineries. In 2009, owners made a strategic decision to discontinue contract steel segment due to increasing competition that depressed profit margins, occasioned by a large bad debt which the owners considered a harbinger of things to come in construction industry. Consequently, company no longer needed to lean on its credit line to finance retentions, thus lowering its interest expense. To rebuild the volume lost from this business segment, company intensified its activities in fabrication and repair of specialty refuse containers and bins for a growing number of waste and recycling customers, a profitable category now comprising nearly 40% of its sales. This has strengthened 2010 revenues, improved gross margin. 2010 on track to substantially exceed 2009.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
Purchase price includes $1,059,591 FF&E, $220,000 inventory, 6 acre fenced property with approximately 56,000 square feet of warehouse, shop, and office space under roof. Pricing guidance drawn from recent $2 million sale of an adjoining 6 acre industrial property of similar usage.
Market Competition and Expansion:
Strong in niche container fabrication for waste and recycling industry. Major expansion capacity.
Reason for Selling:
Retirement
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.
Resources: