Established in 2020, this Texas-based company does maintenance on new and used oil, water, and fuel tanks. Services include inspection, welding, industrial coating, restoration, reclamation, and general labor (i.e., job-site clean-up and tank clean-outs).
Clients with tanks are legally required to provide maintenance to their tanks, which creates an influx of new opportunities for the business. They have 100% repeat clientele that consists of major oil and gas companies, general contractors, high fabrication companies, and airports, with the average maintenance price per tank being $300k-$700k. The company leases most of its equipment, allowing for very low CapEx overhead and an ability to be nimble and pivot as needed.
The business has experienced organic but explosive revenue growth and has around $100k worth of equipment. The business has written contracts with clients and has a staff of 32, which makes up five to seven crews.
The owners are confident the staff will stay with the business post-sale. The owners would like to retire eventually but are open to staying with the company in their roles for a certain period of time to help with a smooth transition. They are very motivated and open to a variety of potential sale structures. The business currently turns down work but believes a buyer with more capital can accommodate the requests by hiring more crews to take on more jobs.
Knowledge of welding, field operations, and fabrications would be helpful to a buyer. NACE (safety and corrosion prevention) and welder inspector certifications are recommended but not mandatory to run the business.
|2021||2022||2023 (Jan 1st-July 21st)|
|Revenue||$1,327,208||$ 2,709,375||$ 4,517,875|
|SDE||$ 65,188||$ 211,370||$ 2,769,363|