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Environmental drilling and related field services is the specialty work of this business. When an environmental consultant needs subsurface samples, this team drives to the site (5 trucks & 7 trailers included), drills the sample, and provides a work space for an outside consultant to do their testing. They have been around since 1996, and in that time have completed projects in 27 states, but typically focus their efforts on acquiring work in the Heartland. Their main services include testing for groundwater, soil, soil vapor, well installation & abandonment.
The headquarters is located in Illinois and operates from a 4,200 square foot steel frame building that suits this business perfectly. With an office, a very large shop, and three overhead doors, there is plenty of work space and storage, as well as room for indoor parking.
Currently, this company does not do any in-house sample testing, they simply collect the sample and provide it to the environmental consultant. Adding an analyst, however, is an area for growth that could potentially bring in additional projects. Additional areas of growth can be found in geotechnical drilling as well as maximizing utilization and assets, so there is great potential for growth without increasing overhead.
The owner manages daily operations, business development, and spends less than 15% of his time in the field. There are certainly team members who can assume some of the owner’s duties, if desired
Build in-house analytics, maximize utilization, add geotechnical services, quarterly ground water monitoring, NPDES sampling
Purchase Price: $1,165,000
15% Buyer Down Payment: $174,750
15% Seller Financing: $174,750
70% Bank Loan: $815,500
A 15% down payment of $174,750 returns $154,777 in the first year after debt payments!
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