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Jun 12, 2020 — Well established supplier of specialized rental equipment used by commercial and industrial general contractors, specialty subcontractors, remediation service providers, and utilities. The Company sources, stocks and delivers a variety of equipment necessary to address special circumstances that may arise during large lengthy construction or maintenance projects. The Company is an essential services company that has continued to provide uninterrupted service to their 600 customers in 21 states. The Company has a 44,000 sq. ft. HQ/warehouse and two other regional facilities. The Company is very well known in its trade territories for their high quality equipment and industry-leading 24/7 service.
The Company has a direct sales team supported by 40 on-staff service technicians and over 70 independent service teams. 2019 revenue was $14.8 million, up 24% from 2018. 2019 EBITDA was $6.2 million, up 46% from the year before. 2019 adjusted earnings were $5.2 million after a provision for $1,000,000 of ongoing annual capital expenditures. The current owner has identified a number of new revenue and profit opportunities available to the Buyer to continue to grow and expand the business.
The founder and sole owner would like to sell the company and retire following an orderly transition of up to one year. All managers, sales, service and support team members are expected to want to stay on with the new owner. The business is valued at $31 million on a debt-free, cash free asset purchase basis. The assets include all fixed assets, rental equipment, vehicles, tools, brands, customer relationships and goodwill.
Contact the Broker for a Non-disclosure Agreement to receive the Marketing Memorandum prepared for the opportunity.
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