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Sold. Short-haul Trucking Of Industrial Products

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Reason for selling:
Diversification of owner’s personal financial interests and superior sales growth desired through strategic partnering.
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Current owner is willing to stay to promote a smooth transition to new ownership
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The Business for sale is a Midwestern trucking company providing short-haul truckload (TL) and JIT shipping for clients in the automotive, steel, and agricultural industries. In 2011, the Company generated EBITDA of $1.07 million on revenues of $5.56 million. Operates within a 500-mile radius of Company headquarters near the industry-heavy I-75 corridor. Business model features an employee base of both company drivers and owner-operators, which provides the flexibility to quickly adjust to market demand without affecting overhead. Pricing schedule passes fuel costs along to customers, for insulation from market fluctuations and cash flow stability. Excellent relationships within the auto and steel industries allow the firm to continue building on an already well-established account base of 45 customers who provide an estimated 99% rate of repeat business. An immaculately maintained fleet, presently consisting of 23 late model Volvo tractors and 37 trailers, in addition to the comprehensive array of transport available through the base of operators, allows for the transport of any product. Passed the most recent Department of Transportation (DOT) audits with the highest score possible, and became ISO 9001:2000 certified in 2003. In 2009, became one of the first trucking companies in the country to achieve ISO 9001:2008 certification. Although a non-union shop, the Company’s status has never caused any problems. Revenue is forecast to increase from $5.56 million in 2011 to $7.80 million in 2016, representing annual growth between 5 and 10 percent. EBITDA is forecast to increase from $1.07 million in 2011 to $1.54 million in 2016 due to operational efficiencies gained from steady top-line growth.

Expansion Potential
The Company is well positioned to take advantage of the positive growth forecast for its industry. Its 11-year record of providing the finest customer service at competitive prices remains the key to its continued growth and success. Management has successfully steered the Company through the worst economic recession since the 1930s, and despite obvious challenges in the current macroeconomic environment, this Company is expected to post revenue near $6.11 million in CYE 2012 and EBITDA near $1.16 million. These strong projections are supported by very positive discussions between management and the Company’s major customers and vendors. Management believes considerable growth potential exists via service and geographic market expansion.