High growth company that provides industrial services including Boilermaking, Piping, Pipe Fabrication, Electrical and Instrumentation, Millwrighting, and Heavy Rigging. Many projects on recurring annual basis. Services a wide range of industries including Electric Utilities, Nuclear, Commercial and Industrial, Petroleum Refining, Process and Power Piping, Pharmaceutical, Food & Beverage, Chemical, Renewable Energy, and Pulp & Paper. The business services primarily the east coast, and is showing increasing growth with multi-national customers throughout the US and internationally.

Summary Investment Considerations:

• The business is currently in a high growth mode as a result of goodwill and referrals, with sales growing over 60% and profits more than doubling in 2016 as confirmed by results thru September 2016 and 4th quarter projections. Bookings for 2017 are strong and is forecasted to show continued revenue growth of over 50%, to $90 million.
• High growth rate due to safety culture, quality of work, reputation, and the broad range of services provided.
• Customer concentration is low and their customer list includes large regional, national, and multi-national companies. Their relationships and reputation in the industries they serve continues to gain status, and they gain much of their new business through referrals.
• The management team is strong and experienced. There is General Management potential within the leadership group.
• The company has an excellent safety record, a rigorous and extensive training program, and has obtained a number of safety awards.
• The company’s financial performance continues to meet and exceed industry standards.
• Have access to a talented labor pool required to achieve growth targets.

Posted Sep 2, 2016

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