• Revenue: $1,168,779
• Cash Flow: $364,281
• Year Established: 1996
• Headquarters:  Chicagoland, with satellite in Cincinnati
• Service Area:  Work is mostly completed in Illinois and Indiana
• Clients: Environmental consultants, commercial property owners, realtors and bankers
• Services: Subsurface sampling for environmental testing: groundwater, soil, soil vapor, well installation and abandonment
• Building: 3,000 sq. ft.: Steel frame building with office & shop, 3 overhead doors with indoor parking
• Reason for Selling: Retirement
• Employees: 7:  5 FT, 1 PT, 1 FT 1099
• Seller Training Period: 1 year
• Growth Opportunities: Build in-house analytics, maximize utilization, add geotechnical services, quarterly ground water monitoring, NPDES sampling
• Current Owner’s Responsibilities: Owner spends less than 15% of his time in the field- this can be easily absorbed

Total Employees: 7

• 5 Full-time
  • Operators
  • Maintenance
  • Bidding
  • HR
  • Marketing
• 1 - FT 1099 Contractor
  • Operators
  • Maintenance
  • Bidding
  • HR
  • Marketing
• 1 Part-time
  • Bookkeeping
  • As needed assistance

None of the employees need specialized degrees to do their work. The company provides extensive on-the-job training, and the field works have between 2-15 years of experience.

Prior experience is not necessary because this company prides itself on being able to train anyone.

This company has completed work in 27 states.  They can work in most mainland states where they can obtain the required licensing or where there are no requirements.  This team will travel wherever the client pays them to go!  Historically, most projects are completed in the following states:

• Illinois
• Indiana
• Iowa
• Kentucky
• Michigan
• Missouri
• Ohio
• Pennsylvania
• Tennessee
• Wisconsin
• West Virginia
  

Services:

• Subsurface sampling for environmental testing
  • Groundwater
  • Soil
  • Soil vapor
• Shallow and small diameter monitoring well installation and abandonment services
• On-Site Analytical:
  • EPA Method 8260 (VOCs, VPH, and GRO)
  • EPA Method 8270 (PNAs, BNAs, EPH, and DRO)
  • EPA Method 8082 (PCBs)
  • EPA Method 8081 (Pesticides)
  • EPA Method 8095 (Explosives)
  • EPA Method 7473 (Mercury)
  • EPA Method 6020/6010 (Metals)
  
  

The largest project was $70,000.

Typical clientele includes:

1. Environmental consultants
2. Commercial property owners
   

The company's main clients are environmental consultants who are doing work for property owner or a prospective property owner. With new regulatory and compliance issues, many banks will not loan or foreclose on a property without performing an environmental test. Tests are also required before new construction or erecting cell-phone towers. Those owners hire environmental consultants, and the consultants hire this company to drill out the samples for analysis.

This company has a wide customer base and most of it is repeat business. They worked with over 150 different customers in 2019, and they are all diverse. The company’s largest customer only generates about 8% of the company’s work.

• List Price: $1,430,000
• Avg. Revenue per Job: $20,000 - $30,000
• Cash Flow: $364,281

• Assets: $841,489

• Vehicles:  $435,756
• Furniture & Fixtures: $11,527
• Equipment: $178,938
• Website: $13,976
• A/R: $201,292
  

* 57% Collateralized *

*See additional asset information in the attachments

• 31% profit margin

• Seller is currently running personal expenses through the company. Those expenses, along with one-time expenses have been added back to show true profitability
• Once personal expenses are accounted for, this company has consistently seen over 20% profit margins

• Mobile Lab:

   

  • Mobile lab services were formerly an integrated part of this business.  After the employee who completed analytics moved on, the owner focused on sampling rather than testing.  This is a viable way to increase revenue, capture additional customers seeking an all-in-one service, or to offer testing-only services to customers.  This would be possible with the addition of an analyst to the team, but revenue is likely to cover the additional overhead for a well-trained team member.