Bridge and industrial painting contractor that is pre-qualified to work in over 20 Eastern US states is looking to sell the business. The company possesses very hard to get certifications for bridge and industrial painting; SSPC QP1/QP2/QS1 (see below).
The buyer is purchasing the certifications and the immediate ability to work throughout much of the eastern USA. The company's equipment is available for purchase as well, but that is optional.
In business over 22 years and with a spotless record of performance and safety, this company is ideal for a company that wants to have a fully-qualified merit shop coatings contractor ready to do business. The business has been very profitable. Owner will stay with the business for a short period of time, but the new owner must be ready and able to take over the business. This is a very technical business and passive investors likely won't be interested. Bridge painting equipment includes Hydraplatforms, ARS rigs, air compressors, dust collectors, and all equipment necessary for industrial and bridge painting that can be sold with the business if desired. Purchase of equipment is not required.
Current owner will complete their current work-in-progress and backlog, and it is ready for you to take over.
The company possesses very hard to get certifications for bridge and industrial painting; SSPC QP1/QP2/QS1. Only 34 contractors throughout the country maintain all three certifications and only 193 have both QP1 and QP2.
SSPC QP 1 attests to an industrial painter's ability to apply coatings to complex industrial and marine coatings. SSPC QP2 attests to an industrial paint contractor's ability to safely remove and properly manage hazardous coating material in the field. SSPC QS1 attests to a contractor’s Advanced Quality Management.
Due to the nature of the sale, the purchase price is the value of the assets, not a multiple of previous earnings. This company operates at double digit net profitability.
Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.