* Included in Asking Price
A heavy lifting company serving manufacturing, utility, and machinery industries. This rigging business provides the lifting power necessary to move manufacturing equipment, turbines, printing presses, and much more! With 7 different lifts, this company is able to take on a wide range of jobs. These projects originate in Nebraska and Iowa, but with the many connections with long-haul trucking companies and expert technicians, this business can help their customers move anywhere in the country.
Each project is assigned to one of two rigging crews. The crews consist of a working superintendent and 2-3 workers. Over 95% of the work is completed indoors, requiring special safety precautions. These crews are OSHA 10 certified to ensure the safety of all involved. They can put new equipment in place or load equipment for transport. When necessary, the business owners use the businesses well-established contacts to provide transportation and other technical services to their clients.
A 2015 cash flow of $953,599 provided a 44% profit margin to the owners of this business. While only serving a limiting area and working on primarily smaller jobs worth $5,000-$8,000, this profit is impressive. Growth opportunities are abundant for this business and include expanding hauling operations and service area, as well as obtaining larger contracts, such as those related to medical equipment. After a down payment of $314,600, a buyer can expect a 173% return on investment. This is a Net Operating Income (Profit) of $544,242 for a new owner in the first year.
Reason for Selling: Planned transition to other business interests that are taking up more of the owner’s time
Personnel: 1 Office Manager; 2 Crews of 3 to 4 Workers (Crews of 1 Working Superintendent and 2 to 3 Workers)
Hours: Monday – Friday: 8AM to 4:30PM
History: Year Established: 2005, At Current Location Since 2008
Lease: 15,000 sq. ft. Warehouse
Support to Buyer: Up to a Year (If Desired by Buyer)
Service Area: Daily jobs are typically completed with-in 150 miles of location. Jobs have extended to Texas, New York, and California as well as into Canada.
Markets Served: Manufacturing, Utilities and Energy, Printing Services, and Machine Tools Employees: 1 Office Manager; 2 Crews of 3 to 4 Workers, Crews include 1 Working Superintendent and 2 to 3 Workers. All staff are OSHA 10 Certified and take part in proactive safety training programs.
Growth Opportunities: Expand Hauling Operations, Expand Service Area, Seek Larger Contracts, Obtain More Medical
Equipment Contracts (ie. MRI and CAT Scan Machines) Current Owner’s Responsibilities: Business Administration and Project Quoting (Only when needed)
Profit Margin: 44%
Multiple: 3.3 *Multiples range from 1-5, with the average being 3
Valuation: 2015 Cash Flow x Multiple = Price
$953,599 x 3.3 = $3,146,876
Assets Included in Purchase: $1,233,578
Equipment: $980,000 (5 Ford Trucks, $110,000; 4 Tractors, $180,000; 6 Trailers, $128,000; 7 Lifts, $562,000)
Intangible Assets: Presence Previously Established in 5 States: NE, IA, SD, KS, and MO.
*amounts may vary
Purchase Price: $3,146,000
10% Buyer Down Payment: $314,600
15% Seller Financing: $471,900
75% Bank Loan: $2,359,500
After all debt services the Net Operating Income (Profit) will be $544,242. This represents a 173% Return on Investment
|Growth Potential:||Expand Hauling Operations, Expand Service Area, Seek Larger Contracts, Obtain More Medical|
|Training/Support:||Up to a Year (If Desired by Buyer)|
|Seller Financing:||15% Seller Financing: $471,900|
|Sale Reason:||Planned transition to other business interests that are taking up more of the owner’s time|
Seller Reference #CON021
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