Business Summary:
Serving the Mid-Atlantic & Northeast region of the US for 30+ years, services offered include railroad terminal operation for inbound & outbound freight clients, clerical & inspection, equipment maintenance & repair, and transloading of commodities such as swamp mats, propane, residual waste, hazmat materials, and agricultural biproducts. The diverse customer base consists of transportation providers, agriculture industry, PennDOT, the energy sector, and plastics & lumber clients. Corporate headquarters are in Scranton; which is where all accounting/bookkeeping, insurance needs, and HR are done. There is an intermodal terminal operation located in Pennsylvania, and a bulk rail facility in New York that is a short line railroad and is project-oriented, handling everything from mats for pipelines, re-bar for road construction, and utility poles for the power industry. They also have a rail facility in PA with a certified truck scale and multiple conveyors. All locations are strategically located, and the employees are all cross trained to work at any location. The reason for sale is an aging owner, who resides out of state and is absentee from the business. The well-developed leadership team allows for passive ownership. The staff is comprised of an Operations Manager, VP of Business Development, 1 Controller, 1 Accounting/HR, 1 Safety Officer/Project Oversight, plus a number of day and night managers, mechanics, transload operators, crane operators, truck drivers, and clerical staff. Assets include 9 sand trans loaders/conveyers, 4 hostler trucks, 2 overhead gantry cranes, a vacuum life, and a variety of heavy lifting equipment, construction pieces, and scales. There is also working capital included of nearly $800K, plus land improvements and deposits. All assets included total over $5M! This type of business is recession-resistant, as the recently passed US Infrastructure Bill allows for natural growth. Billions of dollars are being dedicated to the improvement of the US infrastructure. Freight supports the delivery of materials directly related to road and bridge work. Expanding their service area further south, adding another fully functional terminal, increasing commodities, and looking further into increasing residual waste services all offer clear routes to further growth for an already strong operation.Priced at $5,700,000, the seller is willing to carry 1.4M of the purchase price. This shows the seller’s faith in the ongoing success of the company. She is willing to stay on board for up to 1 year after closing as well to ensure a strong and smooth training and transition.
|
|
