This company is a distributor of wholesale oilfield supplies to oil and gas well customers in Texas, Oklahoma and New Mexico. Product offerings include Netting, Seating Cups, Cone Packing, Composition Rings, Pressure Actuated Rings, Fluid Seal Packing and many other oilfield products.
The owner started the business in 2001 and has operated it in West Texas for over two decades. He has turned over much of the day-to-day responsibilities to the COO but remains involved at a high level. The GM/COO is a minority shareholder who manages daily operations. The COO is desirous of staying on after the sale if desired by the Buyer.
The company enjoys a deep, long-term customer base with frequent repeat orders. Revenue and net income are up and steady the last several years through the current year-to-date.
The company operates from a 28,000 sq. ft. warehouse on three acres in West Texas that is centrally located to most of the customer base. Two salespeople manage the sales to new and existing customers, and three commission-only independent sales reps are positioned in Texas, Oklahoma and New Mexico.
The Owner is ready to retire but will agree to remain onboard for a transition period to ensure a successful transition to a new owner. The COO/GM knows the business very well and will remain in his current position or one of elevated responsibility if the buyer desires.
The BUSINESS PRICE is $14,900,000 including $5M+ of inventory and working capital. The Business Tax Returns and P&Ls are very clean, accurate and reflect each other.
The company operates from a newish 28,000 sq. ft. office/warehouse on multiple adjacent legal lots that total 3.1 acres. There is 26,000 sq. ft. of warehouse space and 2,000 sq. ft. of office space. The real estate is available for purchase for $2.9m or the Seller will lease the property for $13,000 per month + NNN.
TERMS:
- Working capital is provided through the inventory and A/R.
- Earnouts or holdbacks will not be considered.
- Evidence of funds available to transact is required.
*Principals Only. Inquiries from 3rd party searchers, admins or other non-qualified persons will not be responded to. No phone calls please. We cannot discuss the company or provide financial information without a signed NDA and evidence of funding. Please email us for an NDA
