Well established union shop. HVAC, mechanical and plumbing pipe insulation.
There is slightly less than $1 million of contracted projects that have not even been started, and slightly less than $1 million in projects in progress.
There is around $400,000 in accounts receivables that is included in the price of the business. These are the financial numbers from June 21st.
The work that is performed is duct and piping insulation with flexible duct wrap blankets and rigid fiber glass pipe covering. Armaflex and foam glass. Steamers, Boilers, Generators and Exhaust.
Very well known in the marine industry for custom fabrication of insulation for yachts. In 1970 the Previous Owner had another vision for the company to accommodate his contracting vision. He felt the best way to acquire the most qualified personnel was to become a Union Contractor and hire the best journeymen available to the industry.
The decision was made to be a Union Contractor and draw from the local insulation chapter. There are six large named competitors in this market. There is plenty of work for all. Aggressive bidding on large projects would produce additional sales and profits.
