Location: Petrolia
Province: Ontario
Industry: Manufacturing - Horizontal Drilling
Summary
This is an opportunity to purchase a leading industry manufacturer of bentonite mud mixers and solidification equipment for the horizontal drilling equipment industry. The billion-dollar horizontal drill market has been forecasted to grow at a compound annual rate of 13% globally and 10.7 % in North America from 2022-2030 according to Grand View Research.
Surface to Surface has developed an outstanding reputation for building innovative, and reliable equipment selling to multinational clients and regional/local contractors in the pipeline, telecommunications, other utilities, and mining sectors.
Founder and senior staff want to retire. There is an opportunity for an existing company to acquire STS and augment their existing product lines. Alternatively, an entrepreneur can purchase the company, bring added working capital, and reposition the company for growth. The company seeks $2,000,000 as a sale price.
Year Established: 1993 by present owner
Days & Hours of Operation: Monday to Friday 8am-5pm
Employees: 3
Managers: 1
Lease Option: Owner owns the building
Type of Location: Industrial Park
Square Footage: 22,000
Relocatable: Yes
Facilities Information: Facility set up for manufacturing Surface to Surface Products, - welding bay, product assembly area, parts, warehousing and office areas
Reason For Sale: Retirement of Owner
Training & Support: Owner willing to assist with the transition.
Owner Qualifications: 30 years of designing and manufacturing equipment for directional drilling industry. An equal number of years as a contractor.
Competition: There are about half a dozen North American manufacturers. A number of Chinese and European firms sell into the market. Surface to Surface products know for innovation, quality and reliability.
Potential Growth: Strong global growth forecasted for HDD industry 13% globally and 10.7% North America 2022-2030. Key growth opportunities in markets for fibre optic cable installation, utilities - upgrading of grid systems for clean power, oil and gas mining industries.
Company has well respected products and one new solidification system product with a patent out to 2038.