Oil and Fuel Tank-Installation, Removal, Remediation

New Haven, CT (New Haven County)

Oil and Fuel Tank-Installation, Removal, Remediation
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Asking Price: Get Financing: $865,000

Cash Flow: $358,000

Gross Revenue: $922,000


FF&E: $150,000

Inventory: N/A

Real Estate: N/A

Established: 1957

Oil and Fuel Tank-Installation, Removal, Remediation

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Business Description

For over sixty years since its inception in 1957 this business has grown and evolved into one of the largest providers of fuel and oil tank installation, removal, and remediation services in Rhode Island, Southeastern Massachusetts and Connecticut.

Sales for FY 2017 were $922,000 with adjusted earnings of $358,000. Very good quality financial statements.

Real estate (separate legal entity and via a licensed Rhode Island related real estate brokerage firm) is optional to the acquisition of the business.

The company is located in a 900 sf office with a 1,500 sf garage warehouse area in a 7,700 sf facility in Rhode Island owned by the company's owner. The real estate will be sold with the business. There are two third party tenants in this facility generating rental income for the owner. The brand is perceived as a respected strong competitor in its market and is very proud of its 70,000 plus residential and commercial customer tanks that it has processed.

This company is a well branded regional market leader.

The Company provides a comprehensive offering residential & commercial tank services including:

• Environmental services
• Site remediation
• Above ground oil tanks
• Underground oil tanks
• Cleanup
• Emergency service

Residential Services include

•Tank installations for Convault, Dehoust, Eastern Fuel Vault, Granby Steel, Highland, Hoover, Kerr, Massachusetts Engineering, Roth, and Vaughn
• Tank Removal Services 275 to 500,000 gallon UST's

The company has almost doubled its annual revenues and adjusted earnings over the past three years.

The company has four full time employees.Licenses required to operate this business are Master 1 or Master 11 Pipefitters license and a CDl A.

Excellent physical location on high traffic road with Route 95 less than one minute away thus providing very easy access to every corner of the state as well as Massachusetts and Connecticut customers and prospects.

Detailed Information

Real Estate:
Building SF:
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
7,700 sf two story facility. Approximately 50% rented to two third party tenants. Lot is approximately .70 acres on heavily traveled road. Less than one minute to Route 95.
There is a limited field of similar companies in this market most lacking the brand strength of this client.
Growth & Expansion:
Create and execute a field sales effort with sales people.
Support & Training:
Two weeks management transition and then willing to consider longer term consulting agreement.
Reason for Selling:
Retirement and other investments
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Robert Flynn

Business Listed By:
Robert Flynn

United Brokers Group LLC

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Memberships & Certifications:
Indicates membership in The New England Business Brokers Association (NEBBA).

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