This 30 year old company caters to large industrial manufacturing plants and provides on-site field services like millwright, welding, fabrication, machining, etc. Another 40% of their work is fabricated at their 45,000 SF manufacturing facility which allows for large fabrication as they have 30 ton overhead crane capacity. There is a large fleet of vehicles the employees use for getting to job sites including Steel Mills, Power Plants, Paper Mills, Mining/Cement Mills and other general industry. 60% of their business is done with their top 6 customers with the two largest accounting for just 14% of sales each. They can work on special designed equipment, re-design or provide a complete set "As Built" drawings.
Sales in 2018 were $9,272,801 with over $1,500,000 of adjusted earnings. Sales in 2019 and 2017 were $8.2 Million with adjusted earnings of just over $1 Million each year. There are a total of 45 employees all of which have strong skill sets. The owner is ready to retire but will provide a long training and transition period for a buyer.
There is no formal asking price but the owner hopes to get close to a 4.5 to 5 multiple on the business. There is also a preference to sell the real estate.