Commercial Refrigeration Service

Wilmington, NC (New Hanover County)

Seller Financing Available
Commercial Refrigeration Service

Asking Price:$949,000

Cash Flow:$420,000

Gross Revenue:$1,500,000

EBITDA:N/A

FF&E:$145,000

Inventory:$35,000

Established:2009

Commercial Refrigeration Service

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Business Description

Growing Service Business with Valuable Contracts

Located in a resort area on the coast, this commercial Refrigeration company has grown to become one of the most recognized names in the area, offering refrigeration and HVAC repair and replacement services to well-known convenience stores, restaurants and retail stores throughout eastern North Carolina. The company operates with 8 full-time technicians (including the owner), each with their own service van. Scheduling and dispatch are coordinated by office staff and conducted out of a centrally located office-warehouse with direct access to major interstates, providing efficient access to the company’s service area.

Clean books and records with an increase in revenues each and every year. The owner has chosen to focus on stable, recurring revenue sources and avoid the cyclical nature of new construction. The philosophy has proven successful, enabling the company to build an enviable customer list while doing very little advertising and growing by referrals.

A diversified customer base is in place. Most customers are under contract for planned maintenance services and agreements range in length from 1 to 3 years, providing on-going, predictable revenues.

Coastal location in an area that offers exceptional quality of life and is forecast for high growth with three counties within the company’s service territory among the 100 fastest-growing counties in the nation.

Don’t miss this rare opportunity to acquire an established business with great cash flow, high percentage of recurring revenue and plenty of upside while living in one of the most desirable areas of the country. 2016 revenues and cash flows continue to show accelerated growth and are on track to exceed $1,500,000 with cash flow in excess of $420,000. The business has been pre-qualified for a loan package that includes $100,000 in working capital. Seller will train and is willing to consider financing a portion of the sale for a qualified buyer.

Confidential Listing. Detailed marketing package including company video is available upon signing of Non-disclosure Agreement. Contact Jeff Baxter at (919) 263-2550 for additional details. Real estate available through MidStreet Commercial.

Detailed Information

Inventory:
Included in asking price
Employees:
10 FT, 1 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Like new office-warehouse owned by Seller and available for purchase at attractive price. Built-out specifically for this business. Offers clean, bright office space and an organized warehouse with plenty of storage. With an unfinished loft, large overhead doors and nearly two acres of land, there are several options for expansion.
Competition:
Relatively little competition in the area. Nearly every building uses some type of HVAC or refrigeration system and all need maintenance work. An emphasis on professionalism and customer service has been noticed by customers and enabled this business to dictate its own growth.
Growth & Expansion:
A focus on employing responsible technicians and delivering top-notch service has set the company apart from its competition. While existing numbers are attractive, plenty of room exists to grow revenue and cash flow even further and the addition of additional qualified technicians would provide the opportunity to rapidly expand revenues. In addition to refrigeration and HVAC work, requests are fielded daily from existing clients asking for additional services such as electrical or other maintenance related items.
Support & Training:
Seller is willing to provide substantial training and consultation to ensure a smooth transition.
Reason for Selling:
Health Issue Forces Sale

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Jeffery Baxter

Business Listed By:
Jeffery Baxter

MidStreet Business Sales

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