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Profitable, 22-year Steel Fabrication Company

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Reno, Nevada (Washoe Co.)   |  Professional Services Businesses for Sale – Legal and Accounting Businesses for Sale   |  Businesses for Sale Between $1M and $5M

Asking Price:
$3,000,000

Gross Revenue:
$7,082,842
Cash Flow:
$917,794
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
$690,000
included in asking price

Real Estate:
$2,325,000
not included in asking price

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Business Description

This is a rare opportunity to acquire one of the largest steel fabricators in the region. The business has set the standard in the area for professionalism and quality for over 22 years. They offer complete packages, from planning to engineering, for commercial, industrial, educational, and medical facilities as well as high-end residential projects. They have an outstanding reputation for completing projects on time and within budget. This is a turnkey operation with 16 employees, including a project manager of 12 years, a shop foreman of 8 years, and an expert fabricator of 10 years. In fact, the owner only works three hours a day, three days a week (high level tasks and oversight). The facilities are well-maintained, and approximately $700K of state-of-the-art equipment is included in the sale. One of the greatest benefits of owning this business is the relationship they have built with nearly every general contractor in the area. From projects connected to downtown revitalization, university expansion, and the huge influx of commercial and industrial business to the region, GC's continually trust this company for any job. A motivated new owner could easily capitalize on growth opportunities and expand the company rapidly, or simply step in and immediately enjoy continued profitability. Seller has represented that 2016's performance is a reflection of him choosing to work less, not a reflection of the market opportunities or the business' capabilities. In fact, in 2017 thru 4/30, there is $7,745,530 under contract.

Northern Nevada is experiencing unprecedented growth, with over 51,000 new jobs projected for the region by 2020. Businesses big and small, including Tesla, Switch, Apple, and Rackspace, are choosing to call the Reno-Tahoe area home due to tax and business-friendly policies, a skilled workforce and a high quality of life. Additionally, Reno offers excellent shopping and dining options, a robust nightlife, high-performance schools--including a Tier 1 university with over 20,000 students--and is just half an hour from beautiful Lake Tahoe.

About the Business

Year Established:
1993
Number of Employees:
16
Real Estate:
Owned
Building Sq. Ft.:
14,000
Facilities:
A 13,900 sf warehouse on 2.3 acres in an industrial center that is home to numerous Fortune 100 companies. The facility includes a large private secured yard, four oversized drive-in doors, 10-ton and 5-ton crane ways, four 1000# booms, H-storage, heating, skylights, heavy upgradable power, and upgraded office finishes. Surrounding uses include similar product type buildings to include warehousing, distribution, and manufacturing.
Market Outlook/
Competition:
Launched over 22 years ago, this business has grown into a leading steel fabricator in the region. Experienced with LEEDS, DSA, OSHPODO, Federal, State, and Military projects, it is the go-to business for steel construction for jobs of any size.
Growth & Expansion:
As Northern Nevada grows, the business could be expanded by targeting new industry moving to the region as well as capitalizing on projects required to support the expected growth (schools, fire and police departments, mass transit facilities, etc.). There is plenty of room to continue year-over-year growth just by running the operation as it is currently running.
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About the Sale

Reason For Selling:
Retirement
Training/Support:
Negotiable. Seller is committed to Buyer's success.
Seller Financing:
Seller will consider financing a qualified Buyer

Listing Info

ID:
1332521
Ad Detail Views:
457

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Business Listed by

Bradley Bottoset

The Liberty Group of Nevada

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Source: Decennial Census (2010), United States Census Bureau.

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