Details - Information last confirmed on November 5, 2020
Priced at $3,805,000 and with over $3.3M in assets, this loan is over 85% collateralized! The General Manager and Office Manager carry 90% of the day-to-day business for this Chicago concrete pumping company. Boasting a 38% profit margin, their diverse customer base consists of both commercial and residential customers with projects ranging from single family homes to slab foundations, bridges to treatment plants, and roadways to pilings. Equipment includes seven pumps, a placing boom, a Line Dragon as well as a shop full of any necessary equipment, inventory, and tools required to complete the job. There is also an additional $20,000 in vehicles including trucks, trailers, and a forklift. The current owner is part-time and does oversight only – no labor. With processes and procedures in place, the business can operate seamlessly with minimal owner oversight.
They have a sophisticated 24-7dispatch system, which provides excellent communication to customers. Each year they serve 180-200 clients with 400 in the database. Work is completed within 100 miles of the headquarters and encompasses Northern Indiana, Southern Michigan, Northern Illinois, and the Chicago Metropolitan area.
There is tremendous potential for future growth. Investing in a larger pump would open opportunities in highway, infrastructure, and large industrial projects; it would also help with the whole fleet utilization and overall finances of the company. Operators and customer lists already exist – having the right machine to be able to perform more/bigger jobs would boost revenue.
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