Industrial Services Acquisition Opportunity

DuPage County, IL (Relocatable)

Industrial Services Acquisition Opportunity
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Asking Price: $3,550,000

Cash Flow: $1,012,000

Gross Revenue: $10,800,000

EBITDA: $518,255

FF&E: $400,000

Inventory: N/A

Rent: $4,600

Established: 1993

Industrial Services Acquisition Opportunity

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Business Description

The Company provides on-going maintenance, rigging and millwright services for the purpose of equipment moves and installation services directly and indirectly to companies in the Fortune 500 segment and below. Revered and typically re-engaged by virtually all of its customer base, the operation enjoys heavy repeat bookings as the company has a reputation for being highly responsive, proactive, and competent in bringing projects in on-time and on-budget. The company operates across many industries and enjoys various industry niches in and around the Midwest. They can operate virtually anywhere in North America. The company can garner crews around the country so as to begin a project often times in as few as 3 to 5 days. The operation enjoys enviable margins as it can manage every facet of heavy moves, installation of new and used equipment or development of infrastructure. They assist customers from the feasibility and planning stage through final assembly and start-up. The company fabricates custom equipment in their fully equipped 5,000 sq. ft. shop and enjoys multi-year maintenance agreements. Seller is understandably proud of the company’s accomplishments and wishes to see it acquired by a party contemplating a long-term strategy for continuing to stay both highly competitive and growth minded in its present niches. The seller has developed a very experienced second tier of sales and operational management that will happily stay on to grow with a new owner. The Seller designed the operation to be highly portable in keeping pace with its customers’ needs. Company typically signs 1-3 year extensions on its lease. The Landlord is considered friendly to the business yet the facility could easily be moved to or folded into another location/operation. Despite the built-in mobility plans, their location is convenient to major thoroughfares around Chicagoland and the Great Lakes region.

In planning for a successful acquisition and strong company future, the Seller has reduced his direct role in customer interface and operational management. The company owns a fleet of late model vehicles for sales and operations personnel. The Seller will effectively transition a new owner for a reasonable period post-closing. Annual revenues have been trending higher since inception with 2011, 2016 and 2017 revenue at $10mln or higher. Cash-flow; on a Trailing 12 month basis as of: June 30, 2018 is right at $1.0 mln. This highly respected company has a track record that speaks to their attention to detail. Their overarching concern for customers’ success and employees’ safety shows up in continued organic growth, their favorable work-comp rating (EMR of: .78), their recurring projects with blue-chip corporations and their clear and accurate financial reporting. Employees are cross-trained to the extent possible and have long tenures. This is an exceptional operator that is well positioned for continued success. There are significant barriers to entry for aspiring competitors. This operation is qualified to work in virtually any Fortune 500 entity. The company continues to engage in major government contracts including extensive renovations at major government facilities; a terrific competitive advantage.

Detailed Information

Location:
DuPage County, IL
Real Estate:
Leased
Building SF:
5,900
Lease Expiration:
5/30/2019
Employees:
6
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
5900 sq ft office and shop plus rolling stock for sales and operations. Ancillary equipment. Operation highly mobile and flexible for on-site installations and fabrications through its home shop.
Competition:
See Business Summary
Growth & Expansion:
See Business Summary
Support & Training:
Seller will effectively transition to the new owner. Time frame open.
Reason for Selling:
Retirement
Business Website:
http://northcoastadvsrs.com
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(from currently available funds)
 
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Fred Stephenson

Business Listed By:
Fred Stephenson

North Coast Capital Advisors, Ltd.

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