Niche Rental Fleet Of Directional Drills

Business Overview:

With a location in Phoenix, Arizona and in Salt Lake City, Utah, they are able to rent to Prime Contractors, foundation companies, and infrastructure GC’s throughout the Southwest. Over $4M in backlog and $3.6M in their sales pipeline, this Industrial drilling equipment business is on track to have an amazing 2023. They have a client base made up of 75% repeat customers: This is primarily due to clients renting equipment, and then realizing they need to continue renting the unit for increased job performance or purchase it outright. Established over 15 years ago, this well-known business offers a solid reputation with only two competitors. With nearly $8 Million in assets the buyers’ loan is 100% Collateralized! With the thought of a “recession” looming, this company will be growing, as the newly passed Infrastructure Bill will directly impact this company’s revenue and shield them from economic downfall. The team consists of industry experts including the COO/Sales manager, a Project and Operations Manager, Accounting and Sales Representative, Office Administrator, a Lead Mechanic plus his Technician, a Yard Manager and Technician Consultant. The current owner only spends 15 hours a week in the business with the role of general oversite and is offering up to a 2-year transition period.

Priced at $9,975,000 this business is ready for new ownership to step in and enjoy continued growth. The current owner believes in the business’s onward & upward revenues and, as a show of this faith and to mitigate the risk for future ownership, the seller has offered to carry a 20% Seller note and/or Equity Roll. Opportunities for growth include expanding into the Mining Sector, Electrical Sector, International Market, Casing Manufacturing and Distributorships for other product lines. They could easily add 3-5 new product lines in a short amount of time. The newly signed Infrastructure bill will allow organic growth making this opportunity recession-proof.

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Property Features and Assets:

Assets Included in Purchase: $7,675,297 Equipment: $3,110,780 Parts Inventory: $95,896 Accounts Receivable: $1,509,454 Equipment Deposit: $550,475 Retainer: $2,408,692

Reason for Selling:

Family

Additional Details:

Documents:

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