Listing Number: 76931-879431
This company designs, manufactures, services, sells and rents/leases downhole drilling tools for oil well and construction businesses. Established in 2011 by prior electrical engineer for a large EPC corporation, this company is known for providing a complete line or proprietary drilling motors, as well as manufacturing space parts for directional companies and competitors products.
Sales reached over $14M in 2018, with EBITDA in excess of $2.3M. Following a dip related to the reduction of land drilling rigs in 2019, and then the pandemic, 2021 EBITDA exceeded $1.15M with over $5.5M revenue. Rig count has been steadily increasing and with crude prices in excess of $90/bbl this is an excellent opportunity for new ownership to capitalize on the regrowth of operational drilling rigs and reap the benefits of future potential at a bargain price. Includes substantial motor parts inventory at cost.
In addition to the business for sale in the amount of $5.5M, the custom purpose built facility, in excess of 27,000 square feet, plus substantial separate upstairs living space, is available for sale for $5M. This impressive building includes a service center equipped with two overhead and two jib cranes which support four breakout machines and two hydraulic vices. Located on 6 acres.
Buyers will be required to execute an NDA, and complete a Buyer Profile if one is not already on file with Transworld. Seller will consider seller financing on the business for a qualified buyer. Contact BOBBI COFFEY 832-481-4406 or BCoffey@TWorld.com.
- Price: $ 5,500,000
- Down Payment: $4,500,000
- Sellers Discretionary Earnings: $ 1,127,213
- Total Sales: $ 5,612,062
- Location: Harris County, Texas
- Inventory: $ 3,000,000
- FF&E: $ 1,500,000
- Employees: 18
- Year Established: 2011
- Reason for Selling: Retirement
- Category: Manufacturing