With a primary location in Phoenix, Arizona and a second location in Salt Lake City, Utah, they are able to service Prime Contractors, foundation companies, and infrastructure GC’s throughout the Southwest. Over $4M in backlog and $3.6M in their sales pipeline, this Industrial drilling equipment business is on track to have an amazing Q1 in 2023. Established over 15 years ago, this well-known business offers a solid reputation with only two competitors. With nearly $8 Million in assets the buyers’ loan is 100% Collateralized! With the thought of a “recession” looming, this company will be growing, as the newly passed Infrastructure Bill will directly impact this company’s revenue and shield them from economic downfall. The team consists of industry experts including the COO/Sales manager, a Project and Operations Manager, Accounting and Sales Representative, Office Administrator, a Lead Mechanic plus his Technician, a Yard Manager and Technician Consultant. The current owner only spends 15 hours a week in the business with the role of general oversite, the owner has been in this industry for over 15 years and would like to move on to a new venture and is offering an 18-month transition period.
Priced at $9,800,000 this business is ready for new ownership to step in and enjoy continued growth. Growth opportunities for the new owner could include expanding their reach into Texas. They have a client base made up of 75% repeat customers: This is primarily due to clients renting equipment, and then realizing they need to continue renting the unit for increased job performance or purchase it outright. The current owner believes in the business’s onward & upward revenues and, as a show of this faith and to mitigate the risk for future ownership, the seller has offered to carry a 20% Seller note and/or Equity Roll.