Specialty Industrial Contractor & Fabricator/NC

Business Overview:

The company performs millwright, structural fabrication and pipe welding services. It fabricates/installs hoppers, non-pressurized storage tanks, process piping, etc. primarily for manufacturing operations. It has an excellent reputation, has never had a lost-time accident, and does not advertise or undertake business development activities (virtually all work comes from either repeat business customers or by referral from other customers). Company has a consistent record of on-time and on-budget delivery of services. One key customer (food & beverage industry) is expected generate nearly $1/2 million in revenue through the end of 2024 by undertaking a similar project in another state that generated a similar amount of revenue in 2022 (the project was supposed to be performed in 2023 but was delayed). The company generally operates in the Carolinas and Virginia, but has also performed services further north (Maryland & Pennsylvania) and west (Tennessee and now possibly Ohio).

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Property Features and Assets:

Monthly Rent: $880.00

Square Units (Foot, Meter): 5,000

Lease Expiration Date: December 30, 2024, 9:00:00 PM

Terms Options: Annual renewal, believe building owner is willing to consider multi-year lease.

Facilities: 1 story metal building

FF&E Overview: Multiple service and pickup trucks, lift trucks, bucket truck, trailers, sky lifts, and welding equipment.

FF&E General Condition: FF&E in excellent condition - some of the equipment is relatively new and remainder has been well-maintained.

Market Competition and Expansion:

Competition: There are other competitors in this same space within a 40 mile radius of the company, but the company's reputation allows it to maintain a regular/loyal customer base that is willing to refer other companies to obtain quotes for projects.

 

Expansion: From Data Bridge Market Research: “North America region has a strong manufacturing base due to high consumption of consumer goods and strong industrial development. The growing production requirement is boosting the market growth because market is witnessing high demand for outsourcing solutions. Moreover, the growing adoption of Internet of things (IoT) technology in maintenance operations and the growing demand for preventive maintenance solutions will enhance the demand for industrial maintenance services in operational improvement and operational maintenance in the market.

Reason for Selling:

Retirement

Additional Details:

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