Distributor Of Steel Pipe And Farm/Ranch Supplies

Business Overview:

Great SBA financing candidate! This is a 30-year-old wholesale and retail distributor of steel and steel pipe related products for the Agriculture market. The company provides a broad line of livestock and equine handling products for the Farm and Ranch industry. They also have a fabrication shop on-site capable of creating custom cuts, welds, and gates for clients. And, they also provide pipe to the Oilfield (usually only 20% of Revenue). Customers come from a healthy mix of walk-in business, on-line sales, and the wholesale business that serves a wide variety of industries across many of the neighboring states.

Highlights include but are not limited to:

Key Employee Turnover – Most employees have been with this business for many years, some for multiple decades.
Customer Concentration – Top 10 customers combined made up just 24% of total revenue and come from a large variety of industries.
Strength of Management Team – The General Manager, Office Manager, Assistant Manager, and Bookkeeper have been with the company for decades and know all the ins and outs of the business. They are all aware of the sale and planning on staying with the new owners.
Growth Opportunities – Multiple different avenues for growth here including but not limited to hiring sales teams, expanding product offerings, and growing the service area.
Balance Sheet – 6/30/23 balance sheet has $133,000 cash on hand with $191,000 A/R versus zero debt (no LOC, no credit cards, no loans on equipment) and $158,000 A/P. Historical balance sheets are very clean.
Real Estate – Headquartered on 5 acres of well-maintained land that is being included in the sale.
Age – 30 years in business with a solid reputation among both clients and vendors.
Revenue Growth – Projected revenue growth in 2023 of just under 10% and roughly 20% growth from 2020.
Inventory on hand – On average, the cost of inventory on hand is usually around $550,000.

The owner is ready to retire and hand the keys over to someone that’s ready to build on the legacy he has created. He is also selling the real estate alongside the business and would be open to financing a small portion of the deal if the structure made sense.

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Reason for Selling:

Retirement

Additional Details:

Documents:

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