This Texas based company specializes in providing professional event production services, including audio, video, lighting, staging, and technical support for live events. It serves a wide range of clients such as concert and entertainment venues, festivals, churches, and corporate organizations. The company can deliver and set-up equipment, provide production expertise, and event management solutions to help create high-quality live experiences. While they do work for concert promotors, they do not tour with bands. Rather, they will work with one-off concert events and festival, provide management or technical services, as well as equipment rentals. Over the past 3 years, the firm’s largest client accounted for 13.5% of revenue, while their second largest was just under 6%.
- Asking Price:
- $7,990,000
- Sales Revenue:
- $4,107,099
- Cash Flow:
- $1,218,066
Property Information
- Real Estate:
-
Lease
- Leasehold Rent:
-
$140,000 per annum
- Premises Details:
-
They lease their own 10k square foot location to themselves, and will provide a long-term lease agreement at $15k per month, or sell the property in the transaction. All of the company’s furniture, fixtures, equipment, and goodwill will be included in the sale. Its roughly $7M in equipment includes 4 box vans, the latest and greatest in audio, video and lighting hardware, and the tried and true gear that continues to get the jobs done.
- Size in square feet:
- 10,000
Business Operation
- Management type:
- This business is owner operated.
- Expansion Potential:
-
Several growth opportunities exist. These include serving a broader range of clients, expanding their geographic footprint, becoming more involved in the overall event production and management industry, providing services for experiential marketing world by continuing to adopt emerging technologies to deliver even greater value to their clients. As organizations continue to invest in high-quality event experiences and hybrid event formats, the company is well positioned to benefit from industry growth and ever evolving customer needs.
- Competition / Market:
-
The company, which is widely recognized as a regional leader, has delivered quality products best in class sound engineers and system technicians to each of their jobs for nearly 40 years. They face competition from national providers as well as performer’s in-house staff, though touring acts tend to also become customers for equipment rentals or other services. On the new installation side of the equation they face competition from less qualified tech industry or electricians when it comes to wiring venues, however, they try not to engage in commoditized or lower margin work.
- Reasons for selling:
-
Retirement
- Employees:
- 17
- Years established:
- 1991
Other Information
- Support & training:
-
As negotiated
- Furniture / Fixtures value:
- $7,000,000
