Asset Based Trucking Company with Great Growth

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Substantial Cash Flow
Asking Price:
$3,650,000

Gross Revenue:
$4,562,664
Cash Flow:
 Not Disclosed
EBITDA:
$1,279,004
Inventory:
 Not Disclosed
included in asking price

FF&E:
$3,900,000
included in asking price

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Business Description

Growing Dry Van trucking company on the east coast of Florida. The company has 22 tractor units and 35 trailer units (vented). The tax cost for the tractors and trailers exceeds 4.7 million with most of the units model 2018 or newer and under warranty. The company employs 32 individuals (25 drivers, 2 mechanics and 5 office/dispatch staff). The drivers are independent contractors.

The company has experienced exceptional growth over the past several years growing revenues over 60% from 2016 to 2017 and over 18% from 2017 to 2018. 2019 YTD suggests growth exceeding 2018 level. The addition of a significant new customer in 2019 could drive revenues well past this current trend.

The company is 48 state authorized for interstate transport. Load mix is approximately 30% produce increasing to approximately 50% in season. Clean cardboard is approximately 20% with the remaining 30 to 50% general freight. The customer mix is varied resulting in limited customer concentration risk.

The company generates excellent EBITDA with substantial free cash flow available after tractor and trailer debt service. EBITDA in 2018 was $1,279,004.

The Seller and his partner wish to retire and sell the company to a firm or individual that can leverage what they have built and take the company to the next level. There is substantial upside to this business with organic growth from the existing customer base and expansion.

The asking price is $3,650,000 plus the assumption or refinancing of the tractor and trailer debt of approximately $3,500,000. Interested parties must sign an opportunity specific Non-Disclosure Agreement. The opportunity has been pre-screened and approved for SBA financing for a well qualified buyer with adequate capital investment.

About the Business

Location:
St. Lucie County, Florida
Year Established:
2010
Number of Employees:
32
Real Estate:
Leased
Building Sq. Ft.:
5,000
Rent:
$5,250.00 Per Month
Lease Expiration:
1/31/2023
Facilities:
Office space, yard space and maintenance repair facility with 2 full tractor and trailer bays.
Market Outlook/
Competition:
The company is well positioned against competition.
Growth & Expansion:
The company has excellent customer relationships which provide for substantial potential growth within the existing customer base.
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About the Sale

Reason For Selling:
Retirement
Training/Support:
Seller will provide 2 weeks of training at no additional cost. Additional training and transition support is available at additional consideration.

Listing Info

ID:
1636468
Ad Detail Views:
0

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Business Listed by

Bill Rary

Waterway, Inc.
License# 3228524

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