Leading Commercial & Military Ship Maintenance Co.

North Kingstown, RI
Washington County

Asking Price: Annual Revenue:
$3,475,000 $5,187,903

Automotive & Boats: Marine Repair, Retail, Parts & Service

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RE: Leading Commercial & Military Ship Maintenance Co. Broker: Rick Carlson
License #: 01820673
Owner Financing is Available!
Limited seller financing will be considered for highly qualified Buyers with significant funding in place if structure and terms are acceptable.

Quick Facts

Asking Price: $3,475,000
Annual Revenue: $5,187,903
Net Profit: Not Disclosed
Cash Flow: $800,000
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 1983
Employees: 19
BBN Listing #: 82727574
Broker Reference #: 1005 Marine

Email or Print Listing

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Business Overview:

The Company repairs ships ~ ocean-going, government, military, and commercially-owned working ships and tankers.

The ongoing maintenance of these vessels is a complex undertaking, but this multifaceted business has managed routine procedures and provided custom engineering and fabrication solutions expertly for 38 years. Specialized services include vibration analysis and thermography, which analyze/determine/predict machinery reliability and problems.

The work includes bringing in and employing high skill-level tradesmen and women who conduct fabrication / welding / mechanical / electrical / electronic and rigging. These specialized services are performed in conjunction with and under the direction of elite-level supervisors; professionals in maintenance and repair methodologies, contractual requirements, and shipyard management.

The business also offers a lucrative generator division in which it services more than 300 maintenance contracts for commercial and residential clients.

NDA is required to secure comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.

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Property Features and Assets:

Facilities: The Company rents two locations; a 4,500 sq. ft., administrative space they’ve occupied for the past 35 years, and a 10,000 sq. ft., offsite workshop. Administrative space rent of $4,345.00 per month is paid through April 30, 2024. Shop rent is $6,431.25 and the lease expires September 30, 2022. It is possible a Buyer can renew.

Market Competition and Expansion:

Competition: There are few companies who do the same type of work; none to the same level of quality. Over the years, the Sellers have seen competitors come and go. However, there has always been enough work for all to stay busy and profitable. At this time, the Company cannot schedule all potential jobs and has turned down some work. Growth & Expansion: This is a going concern and finding skilled tradesmen and building the workforce (a nationwide issue in all industries) would help ensure stable growth. Hiring salespeople in the Generator and Ship Repair division, and developing more “sole source” products for the Government is a good place to start. Long-range, look to develop contacts/market capabilities to Offshore Wind Projects.

Reason for Selling:

Both Sellers are looking to transition into full o

Additional Details:

  • The property is leased.
  • The owner is not willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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