Seller's Contact Information
- RE: O&G Heavy Equipment Leasing And Manufacturer
- Contact: Bobbi Coffey
Quick Facts
Asking Price: | $10,900,000 | |
Annual Revenue: | $9,862,388 | |
Net Profit: | Not Disclosed | |
Cash Flow: | $3,766,863 | |
Total Debt: | Not Disclosed | |
FF&E: | 1,500,000 | |
Real Estate: | Not Disclosed | |
Year Established: | 2011 | |
Employees: | 18 | |
BBN Listing #: | 617144107 | |
Broker Reference #: | 76931-879431 |
Business Overview:
TRANSWORLD BUSINESS ADVISORS OF HOUSTON. LISTING REF #76931-879431
In addition to cash flow, there is substantial assets and inventory.
Due to volatility of O&G, this business will not qualify for SBA. Cash buyers only will be considered. Seller may finance a small portion depending on experience and qualifications. Real estate is in addition to business (real estate is lendable).
2022 revenues through September are just over $10M, with EBITDA in excess of $3M. 1Q23 preliminary revenues over $4M, with over $2M EBITDA.
This company designs, manufactures, services, sells and rents/leases downhole drilling tools for oil well and construction businesses. Established in 2011 by prior electrical engineer for a large EPC corporation, this company is known for providing a complete line of proprietary drilling motors, as well as manufacturing spare parts for directional companies and competitors' products.
Sales reached over $14M in 2018, with EBITDA in excess of $2.3M. Following a dip related to the reduction of land drilling rigs in 2019, and then the pandemic, 2021 EBITDA exceeded $1.15M with over $5.5M revenue. Rig count has been steadily increasing and, with crude prices on the rise, this is an excellent opportunity for new ownership to capitalize on the regrowth of operational drilling rigs and reap the benefits of future potential at a bargain price. Includes substantial motor parts inventory at cost.
In addition to the business for sale, the custom purpose-built facility, in excess of 27,000 square feet, plus substantial separate upstairs living space, is available for sale for $5M. This impressive building includes a service center equipped with two overhead and two jib cranes which support four breakout machines and two hydraulic vices. Located on 6 acres.
Buyers will be required to execute an NDA, and complete a Buyer Profile if one is not already on file with Transworld. Seller will consider seller financing on the business for a qualified buyer. Contact BOBBI COFFEY 832-481-4406 or BCoffey@TWorld.com.
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Property Features and Assets:
Facilities: 27,400 sq ft plus living space built out upstairs, situated on 6 acres. Seller prefers to sell real estate and not lease. FF&E Overview: State of the art, custom built facility and associated equipment.
Market Competition and Expansion:
In addition, the many small competitors they see in the market are too small and don't maintain the reserves necessary to weather the drops in oil prices and rig counts, and now with the pandemic this has become even more evident. This company has the capacity to be ready when the market swings up and poised to grab an increased market share.
Reason for Selling:
Retirement
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
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