MergerPlace

Aluminum Boat Manufacturer

Washington


  • Asking Price: $650,000
  • Gross Income: $1,017,814
  • Cash Flow: $223,537
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: $108,723
  • Listing ID: #200597
  • Established: 1987
  • Employees: 5 FT

Business Description

The company manufactures custom made all-welded aluminum boats. These boats are strong and rugged, yet light weight, providing a safe and stable platform for nearly all working conditions. These versatile boats meet the needs for commercial and recreational use including fishing, diving, research, survey, law enforcement, oil response and clean-up duties. Customers include many local and federal government agencies, military and serves Northwest tribes. In a highly fragmented industry, it is the company's boat designs, quality and dependability that differentiate it from the rest.


Business Details

Primary Business Category: Manufacturing - Fabricated Metal Products
Location: Washington

Company Information

Year Established: 1987
Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 5 FT

Financial Information

Asking Price: $650,000
Gross Revenue: $1,017,814
Cash Flow: $223,537
FF&E: $108,723
Seller Financing Available: No

Property Information

Facilities:

The owner of the business owns the industrial building which is 11,500 square feet of space. There is an additional 5,000 square feet of space available for future expansion. There is a gated yard with ample parking for employees. The location is within close proximity to the leading seaports of Seattle and Tacoma. The owner will give a new lease on the building $5405/month plus triple net charges. Terms to be negotiated.

Growth & expansion opportunities:

The current operation is at about 50% of capacity so there is potential to significantly grow the business through more proactive marketing efforts. There is an increasing demand for these versatile boats and a constant pipeline with room to grow production on site. The boating Industry has an overall confident outlook. The general tone going into 2017 is one of optimism and expectations for slow, steady growth to continue. There have been nearly 5 years of growth in the mid single-digit, low double-digit growth in the markets overall, reports Info-Link. Boating Industry readers are even more positive: 78 percent of respondents to a December survey said their 2016 revenue was up from 2015, with over half of all survey respondents saying that revenue was up 10 percent or higher. 2016’s recreational boating industry performance and trends establishes a predominately positive forecast for 2017. U.S. employment grew moderately, with unemployment now at 4.6 percent and consumer confidence averaging 98.4 in 2016, about a point higher than in 2015. Fuel prices trended lower again in 2016, a favorable outcome for consumers and retail marine businesses.

Competition:

The company is in a niche market and although there are a few small competitors, the quality and workmanship of their boats has established themselves as the premier player in the United States. The industry is moving toward the lightweight low maintenance materials for these utility boats.

Reason for selling:

Owner wishes to retire.

Support & Training:

Will train for 2 weeks @ no cost. Knowledge and experience with management of personnel, boat design and manufacturing production work is required. Training in welding, fabrication and assembly is necessary to manufacture the boats. The boats are designed and built for fishing, diving, adventuring, water-skiing, various other water sports and commercial applications. Comprised of welded, marine grade, plate aluminum alloy, the boats are Earth friendly and 97% recyclable.

Contact Business Seller

This form may be used only to contact the seller of this specific business listing. Please do not use this form for any other purpose.

Business Listed By:

Claudia Smith

Murphy Business Brokers