Industrial Painting & Specialty Coating Company with Repeat Customers

Company Summary

This Company is a West Michigan-based industrial painting and specialty coating company with a large base of repeat corporate customers. The Company was founded nearly 100 years ago and enjoys strong continuing relationships with successful long-standing customers. Much of the Company’s services are delivered in their well-equipped shop to customers who continually count on them to handle all their painting needs. The current owners purchased the company after working in it for many years, and they are now preparing for retirement. With a strong reputation, experienced, knowledgeable and dedicated staff, and a large diversified market presence, the Company makes an excellent opportunity for a buyer interested in carrying on the Owners’ commitment to excellence while pursuing new avenues for growth. The ideal prospect for our client is either someone who is service focused, has hands-on leadership background and is able to provide a down payment in excess of six figures; or a commercial painting contractor wishing to add a significant in-house capability or wishing to have a presence in the growing West Michigan industrial painting and coating market.

Growth Opportunities

Grow Client List with Effective Marketing – Most of its clients are repeat customers and most new clients are referrals. Intensive marketing has never been integral to the Company’s business model. Some investments have been made in a web- presence; however, no investments have been made in social media, Google ads, search engine optimization or other marketing efforts. Investing in these could be effective ways to further permeate the geographic areas that the Company is already active in.

Related Businesses Growth Opportunities – The Company currently doesn’t actively seek field contracting work but has continuous opportunity to add this work if the new buyer had the desire to more aggressively do that.

Investment Highlights

Strong Brand and Existing Repeating Customer Base – Being a mature company, the Company has a large customer base of very loyal customers, most of which use their services repeatedly. The Company enjoys this reputation and has become the go-to source for industrial/commercial facility interior, exterior as well as machinery and pipe painting and coating services.

Continuity – The owners desire to provide continuity for their customers and are therefore willing to train and consult with the new owner as desired to assure that the quality and service level is maintained during the transition time and perhaps longer if required.

2015 Revenue: $1,032,532
2015 Owner’s Discretionary Earnings: $219,238

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