Richmond City County, VA

Established:2010
Ad#:1805916
Ref ID:11/25/20

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BUSINESS SUMMARY

Founded in 2010, this 10-year-old mid-Atlantic based company is a highly reputable industrial coatings contractor specializing in high-performance industrial coatings. In addition to high-performance coatings, the Company’s services include lead abatement, abrasive blasting, industrial floor coating, UHP (ultra-high pressure) water blasting, and tank coating & lining. The Company’s strength and success are a direct result of its experience, strong supplier relationships, and quality of its work. The company has over 45+ active clients and 85%+ of its revenue comes from repeat business.

INVESTMENT CONSIDERATION

• Stable Established Business: The Company has been around for 10+ years and is highly reputable and well known in the space.
• Management Will Foster Transition: Ownership is interested and willing to remain with the Company after a transaction to facilitate an orderly transition to new ownership.
• Strong Client Relationships: The Company has 45+ active accounts and has built an extensive customer list and good industry relationships since its inception. The customer base is loyal with over 85% in repeat business.
• Coating Maintenance Mandated: A highly regulated environment exists in the food, petro chemical, pharmaceutical, power generation, water, and wastewater treatment segments where mandatory ongoing coatings maintenance is required.
• Diversified Service Offering: The Company offers its customers a wide range of services including tank coatings and linings, general abrasive blasting and coatings, floor coatings, UHP water blasting, dry ice blasting, and pool coatings. Competitors in this industry typically provide a few services, but do not have nearly the expansive offerings as this Company does. These services provide tremendous opportunities for growth in the future and reduce risk because of the Company’s diversified service offerings.
• Highly Credentialed: The Company is QP 1 designated by The Society for Protective Coatings (SSPC). The SSPC QP 1 certification is a nationally-recognized program that evaluates the practices of industrial painting contractors in key areas of business. The complex nature of coating systems and the specific surface preparations required for these systems have made the QP 1 guidelines vital to the longevity of applied protective coatings. The Company is also accredited by the Better Business Bureau and is a member contractor of ISNetworld.
• Strong Supplier Relationships: Much of the Company’s historical success can be attributed to its strong ties to suppliers. The Company’s suppliers routinely recommend the Company’s services due to the quality of their work. An estimated 25% of leads come through suppliers.

Detailed Information:

Location:
Richmond City County, VA

Employees:
26

Facilities:
The facility is a beautiful 7,500 square feet that includes office and warehouse space,

Growth & Expansion:
Significant Growth Opportunities: There are numerous ways to expand operations and profitably grow the Company. Specifically: o Easy Geographic Expansion: Established relationships with large multi-national customers brings frequent requests to perform work outside the geographic footprint the Company currently operates. To date, the Company has passed on these opportunities. o Target the Food Processing Industry: The Company’s broad service capabilities provides high profit opportunities in targeting customers that have wide-ranging coating and application needs. As a one-stop industrial coatings provider, the Company has competitive advantages in securing longer term contracts with customers looking to do business with a company that can do it all.

Support & Training:
The Seller is proud of the business they've built. Their primary goal is to make sure the new Buyer is successful. Hence, they will stay on as long as the Buyer needs them.

Reason for Selling:
Early retirement