United States

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Listing ID: 1649 Last Refreshed: 07/05/2019 Total Views: 5973

Trucking & Industrial Warehouse Operation 1327C

Michigan

Asking Price: > $5M
  • Premise Type N/A Premise Size N/A
  • Monthly Rental $0 Rental Desposit N/A
  • Revenue N/A Cash Flow > $1M
  • Gross Profit N/A Net Profit N/A
  • Stock N/A Liability N/A
  • Payable N/A Receivable N/A
  • FFE N/A Established 1990
  • Owner Role Full Time Staff 61
  • * Revenue, Gross Profit, Net Profit, Cash Flow are based on Monthly average
Scott Bushkie Cornerstone Business Services, Inc.
Email Owner

Reason For Sale

Retirement

Description

Company offers asset-based and brokered carrier services, and warehousing and inventory management for a key customer.  Headquartered in the Upper Midwest, the business operates in 48 states and Canada, with about half of the company's hauling business focused in the Midwest.  The warehouse has indoor rail siding with capacity for 12+ railcars and site preparation work has been completed for an expansion to the facility.  The company has a well established reputation and, outside the recent recession, a long history of profitable growth.  The company has highly experienced employee management in place and a solid team of people with an excellent understanding of the logistics business.  Driver turnover is about 10%, far below industry norms, largely attributable to a favorable company culture.  The asset-based trucking part of the business is operated with a well-maintained, late model fleet, including tractors and trailers.  The brokerage side of the business is handled from the Upper Midwest office, as well as through an independent agent located further south.  The company is currently focused on building the brokerage side of the business, and the brokerage business is expected to double in 2015.  In terms of the asset-based trucking services and warehousing, the company has not tried to build its customer base in several years.  Currently, the company has more demand than it can handle and its largest customers have indicated interest in doing significantly more business.  A new owner could invest in expanding the warehouse or develop a more aggressive driver recruitment practice to increase capacity.  This is an ideal opportunity for a strategic company looking to build a business of greater value by acquiring additional customers and experienced, loyal drivers and/or gain a distribution hub in the Upper Midwest.Retirement

Business Operation

Constructed in the mid-1990s the 150,000 sq. ft. warehouse sitting on a very large parcel offers indoor rail siding and 20 - 30 foot ceiling heights. Security features include security alarms, a sprinkler system and video surveillance. The warehouse is outfitted with loading docks with push-button dock plates and one drive-in entrance. Ground work has already been done to accommodate expansion on the facility. The Company operates from a high-end administrative office facility constructed in 2006 and is currently built-out with administrative offices, open cubicle space, and kitchen facilities. The warehouse and administrative building were appraised for a total of $4.1 million in 2011. The company’s maintenance shop is a 1.5 acre property that also offers a large yard well-suited as a drop lot for semi-trailers. There is plenty of real estate available for expansion.
Facilities
Only one competitor of note in the area. The company is currently focused on building the brokerage side of the business, and the brokerage business is expected to double in 2015. In terms of the asset-based trucking services and warehousing, the company has not tried to build its customer base in several years. Currently, the company has more demand than it can handle and its largest customers have indicated interest in doing significantly more business. A new owner could invest in expanding the warehouse or develop a more aggressive driver recruitment practice to increase capacity.
Competition
There has been site preparation work completed for expansion of the warehouse. The company is currently focused on building the brokerage side of the business, and the brokerage business is expected to double in 2015. In terms of the asset-based trucking services and warehousing, the company has not tried to build its customer base in several years. Currently, the company has more demand than it can handle and its largest customers have indicated interest in doing significantly more business. A new owner could invest in expanding the warehouse or develop a more aggressive driver recruitment practice to increase capacity.
Expansion Potential
Seller currently spends about ten hours per month at the business, there is a highly trained staff that runs the company on a daily basis. As necessary for a smooth transition.
Supporting and Training
Yes, seller financing is available.
Financing

Property Information

Constructed in the mid-1990s the 150,000 sq. ft. warehouse sitting on a very large parcel offers indoor rail siding and 20 - 30 foot ceiling heights. Security features include security alarms, a sprinkler system and video surveillance. The warehouse is outfitted with loading docks with push-button dock plates and one drive-in entrance. Ground work has already been done to accommodate expansion on the facility. The Company operates from a high-end administrative office facility constructed in 2006 and is currently built-out with administrative offices, open cubicle space, and kitchen facilities. The warehouse and administrative building were appraised for a total of $4.1 million in 2011. The company’s maintenance shop is a 1.5 acre property that also offers a large yard well-suited as a drop lot for semi-trailers. There is plenty of real estate available for expansion.
Premises Details
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