Business Summary:
With a location in Phoenix, Arizona and in Salt Lake City, Utah,they are able to rent to Prime Contractors, foundation companies,and infrastructure GC’s throughout the Southwest. Over $4M inbacklog and $3.6M in their sales pipeline, this Industrial drillingequipment business is on track to have an amazing 2023. Theyhave a client base made up of 75% repeat customers: This isprimarily due to clients renting equipment, and then realizing theyneed to continue renting the unit for increased job performance orpurchase it outright. Established over 15 years ago, this wellknownbusiness offers a solid reputation with only twocompetitors. With nearly $8 Million in assets the buyers’ loan is100% Collateralized! With the thought of a “recession” looming,this company will be growing, as the newly passed InfrastructureBill will directly impact this company’s revenue and shield themfrom economic downfall. The team consists of industry expertsincluding the COO/Sales manager, a Project and OperationsManager, Accounting and Sales Representative, OfficeAdministrator, a Lead Mechanic plus his Technician, a YardManager and Technician Consultant. The current owner onlyspends 15 hours a week in the business with the role of generaloversite and is offering up to a 2-year transition period.Priced at $9,975,000 this business is ready for new ownership tostep in and enjoy continued growth. The current owner believes inthe business’s onward & upward revenues and, as a show of thisfaith and to mitigate the risk for future ownership, the seller hasoffered to carry a 20% Seller note and/or Equity Roll.Opportunities for growth include expanding into the Mining Sector,Electrical Sector, International Market, Casing Manufacturing andDistributorships for other product lines. They could easily add 3-5new product lines in a short amount of time. The newly signedInfrastructure bill will allow organic growth making this opportunityrecession-proof.
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