Business Description
Great Opportunity
RVA Business Brokers are delighted to bring this incredible opportunity to purchase a distributor and dealer of new and used cranes and parts. The Company seller is a full service, parts and reconditioning shop based in the Richmond metro area. They offer customers several financing options.
The Company is the Terex cranes, parts, and service dealer for the huge Mid-Atlantic states, which includes Virginia, Maryland, and Washington DC. The Company is also the dealer for Manitex. It has ties to Hueffermann (Liebher) and Tadano Cranes.
They also sell parts and service equipment for Terex, Demag, American, P&H, Koehring and Manitex Cranes. They sell used cranes and parts worldwide. The Company is a step apart from the competition with its mammoth 50?x18?x16?paint bay. It is the only one in the Richmond metro area. They offer a level of product knowledge and service that their competitors don’t.
The Company is looking to add Hyundai excavators, loaders, skid steers, and articulated trucks to their catalog. The Company has a great reputation, and relationships with customers, some for over 50 years.
Investment Highlights:
– $5,609,828 Revenue and $546,201 SDE in 2022.
– 50% Margin on crane undercarriage parts through Chinese supplier.
– 31-year history.
– The ONLY 50?x18?x16?fully staffed, paint bay in the Richmond metro area.
– Top 3 clients have a 25 – 50 year tenure
– Multiple financing options available.
For crane sales, the Company quotes the machine with photos, brochures, and charts. Upon agreement with the client, the sales order is signed and is typically paid by wire transfer. The company has had very few bad debts during their life.
Parts, service, and attachment follow a similar format with payment upon delivery or service. The Company has a few long-term clients that use open accounts.
Inventory Process
Company holds a small inventory of new parts and relies on overnight service from IPS, Terex, and others for most parts. They have an inventory of new and used booms, jibs, and attachments in a shed and outside storage on the property.
Factory Authorized Parts & Service:
– Terex
– Demag
– American
– P&H
– Koehring
– Manitex Cranes
Full service, parts, and reconditioning at the Company’s Ashland facilities, featuring a Mammoth 50′ x 18′ x 16′ equipment painting booth!
A major benefit to purchasing this existing operation is that all the equipment and parts are included in the sales price.
Detailed Information
Location: Richmond, VA
Inventory: Not included in asking price
Real Estate: Leased
Building SF: 8,000
Lease Expiration: N/A
Employees: 12
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: 8,000+/- sq. ft. warehouse and offices 3.1 acres (Can be purchased separately)
Competition: Competition is always out there but business is well established
Support & Training: Owner is willing to stay as long as needed up to two years.
Reason for Selling: Owner is 79 years old
