Trucking Company with Great Free Cash Flow

Nassau County, FL (Relocatable)

Seller Financing Available
Trucking Company with Great Free Cash Flow
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Asking Price: Get Financing: $2,250,000

Cash Flow: $565,000

Gross Revenue: $2,200,000

EBITDA: $565,000

FF&E: $10,437

Inventory: N/A

Lease Rate: $2,050 /SF/Month

Established: 2005

Trucking Company with Great Free Cash Flow

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Business Description

Opportunity for a new entrant into the Trucking business as well as firms looking to expand their driver count and profitable revenue base.

Northeast Florida trucking company with substantial cash flow and minimal fixed operating expenses. Located near Northeast Florida port. 10 trucks with 10 experienced and long tenured drivers. 6 drivers own trucks while 4 lease trucks from the company. Average tenure of drivers with the company is over 14 years. Long term and profitable customer relationships. Substantial opportunity for growth - current owner (and original founder) turns away business on a regular basis.

Business formed in 2005 and is projected to generate over 2.2 million in revenue for 2018, an increase over the 2.02 million generated for 2017. Gross profit margins have averaged over 30% for the last 3 years generating an average of $523,037 of Seller Discretionary Earnings for this 3 year period. 2018 SDE trending to approximately $565,000. Business was generating over 2.9 million in revenue, with over 700k of free cash flow, in 2013 and 2014 and could easily be there again with a new, engaged owner.

Current office (4 offices leased) and yard leases are on a month-to-month basis and can be terminated with 30 days notice should a buyer wish to relocate the business. Lease terms can be extended if a buyer desires. Good safety rating and manageable insurance expense. Owner was an early adopter of the new EDL guidelines utilizing a HOS system.

An existing operator growing with this acquisition may be able to increase cash flow with more favorable insurance rates through increased volume. Drivers are independent contractors with the business only requiring 1 full time employee (willing to stay upon sale). Seller/Owner/Founder will provide 30 days of training and assistance included in asking price but is willing to entertain a longer period for transition and training with additional consideration.

At an asking price of $2,250,000, the SDE multiple is less than 5 based on the average Seller Discretionary Earnings, or free cash flow, for the prior three years. The SDE multiple drops to just under 4 with anticipated 2018 free cash flow. A new buyer with the ability to market and absorb additional business could substantially increase free cash flow and further drive down the relative acquisition SDE multiple.

The Seller has been in the trucking business for decades and is ready to retire. He wants the business he has built to continue to thrive and prosper. To accomplish a streamlined transaction, the Seller is offering Seller Financing, to an extremely well qualified buyer, up to 30% of the transaction value. Any Seller financing is offered at 8% and amortized over 7 years. A first lien position for the Seller is required. Applicants for Seller financing must submit a financial statement and proof of available and required funds for closing.

Information will only be submitted under an effective non-disclosure agreement. Provided is a link to the NDA. You may print, complete and return to or fax to the number on the NDA. Additionally, a government issued photo id must be sent with the completed NDA submissin and is required to verify the NDA information.

Detailed Information

Real Estate:
Building SF:
Lease Expiration:
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Leased office space (4 office suites) and yard space. Facilities are on a month to month lease basis and can either be terminated with 30 days notice (for a buyer that wants to relocate) or extended to longer terms. 4 trucks are leased from Penske and leased back to Owner/Operator drivers. These leases would be assumed by a buyer.
Long standing customer relationships and nearby port location present very few competitive factors for the company. The company does not currently advertise the business or maintain any web presence (no website, facebook page, etc.).
Growth & Expansion:
Trucking is a growing business. As with all trucking companies, drivers (Owner/Operators) are the key when they are within a well managed system. The owner has a tremendous system in place and, subsequently, has long standing relationships with his current drivers. Driver retention has been excellent. The owner has more business requests than he can service. Driver addition is key. Although an interstate carrier, most business route is within a 400 mile radius (Southeast) which, when coupled with the North Florida location, provides a great incentive for new driver additions. The current owner has put little effort into driver addition and presents a real opportunity for a new owner. More drivers equals the ability to service the existing business requests.
up to 30% of purchase price
Support & Training:
30 days onsite transition and training included in asking price. Seller would entertain a longer period for additional consideration
Reason for Selling:
Business Website:
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(from currently available funds)
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Bill Rary

Business Listed By:
Bill Rary

Waterway, Inc.

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