Well established manufacturer of highly engineered carbon steel and stainless steel industrial tanks. The company also produces a large number of other related steel industrial parts and equipment. All products are built to exacting specifications for installation in large processing systems. The company is very well known for their workmanship, very high quality and on-time delivery.
2018 revenue was $4,571,000, up 14% from 2017 revenue of $4,019,000. 2018 adjusted EBITDA was approximately $1,130,000, also up 14% from 2017 EBITDA of $987,000. There are a number of new revenue and profit opportunities available to the Buyer to continue to grow and expand the business. The owners are committed to an orderly and successful transition of at least one year, and possibly longer if necessary. All employees are expected to want to stay on with the new owner. The asking price of $6,000,000 includes $1,000,000 of working capital on a debt-free asset purchase basis.
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