This high-margin Company offers a diverse range of products and services to its customers including cranes, hoists, festoon systems, and other material handling equipment services including repeat certification and annual inspection services. The Company attracts customers from primarily industrial markets. The Company has loyal customers and generates revenue almost equally between its product sales and repeat service/inspection sales.
After nearly 30 years of distribution, fabrication, and services, the Company prides itself on engineering capabilities and superlative design that keep customers coming back and referring other customers. Their competitors, which are few, even turn to the Company to fulfill service or technical needs because of their commitment to delivering on time and high-quality performance. The Company is an industry leader statewide and has completed extensive work in the Midwest, with special projects across the nation.
The Company has few legitimate competitors. These competitors are known as cost players who often stumble when it comes to customer service, leading potential customers to the Company due to their excellent OEMs and focus on service and communication. The Company has experienced very few, if any warranty issues over all its years in business. These efforts have led to very favorable margins and steady, substantial performance year over year.
Facilities: The Company owns a 14,652 sq. ft. facility surrounded by 40 acres of land. The facility could be easily expanded or added-on to. The owner is open to selling all or some of the land.
Support/Training: Ownership is willing to provide reasonable and customary transition assistance.
Reasons for Selling: Retirement.
Financial Strength: The Company has been operating at favorable margins of nearly 50% gross profit margin and 36% seller’s discretionary earnings margin. This is due to the focus on quality, efficient operations and processes, as well as low overhead costs.
Longevity and Reputation: The Company has provided products and services to a wide range of customers in the industrial market for almost 30 years. Over this time span, the Company has created strong relationships, developed unique service offerings, and formed a diverse customer base and network of dependable
Quality Products: Other competitors focus on price, while the Company focuses on top OEMs, attention to detail, and exceptional equipment.
Expansion of Products and Services: The Company could develop new business lines through expansion of product offering and available services. Expansion to new markets through additional service offerings outside of primarily industrial dominated customers.
More Attention to Sales: The Company could add a team member with a focus on sales to grow, rather than relying on referrals. The Company could benefit from outside manufacturing/sales representatives and trade shows as well. With added sales attention, the Company’s current customer base could increase
Hire Additional Staff: Currently, the Company only utilizes a small team but could easily grow through additional team members to grow organically. This would allow for simultaneous jobs and services being provided for customers without slowing production.
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