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Water And Ground Testing With 29% Profit Margin
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, specifically Illinois and Indiana. The team of eight offers services that include testing for groundwater, soil, soil vapor, well installation & abandonment. The owner spends less than 15% of his time in the field and this can be easily absorbed by current employees. The $615,000 worth of equipment such as specialty drilling rigs, geoprobe tools, well materials, and supplies are included in the asking price.
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.
Build in-house analytics, maximize utilization, add geotechnical services, quarterly ground water monitoring, NPDES sampling
Purchase Price: $1,115,000
12.5% Buyer Down Payment: $139,375
12.5% Seller Financing: $139,375
75% Bank Loan: $836,250
A 12.5% down payment of $139,375 returns $158,540 in the first year after debt payments!
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