This 49-year-old company, based on the Gulf of Mexico in South Central US, serves the oil and gas, renewable energy, and infrastructure industries by providing innovative solutions to complex fabrication challenges while remaining on time, on budget, and fair in all aspects of their business. The Company specializes in heavy wall pipe in long lengths, constructing offshore platforms, jackets, and accessories, large heavy wall marine pressure vessels, and custom rolls large diameter tanks for various public, commercial, and industrial customers throughout the United States. The Business is supported by large amounts of real estate with numerous active rolling mills and an experienced workforce behind operations.

The Company operates out of five buildings totaling 148,667 sq. ft. on 57 acres of land; the property includes 3,000 ft of waterfront access located within 1.5 miles from the Gulf of Mexico. The proximity to the Gulf allows the Company to conveniently serve most of its customer base without the excessive transportation requirements and expenses many of its competitors must manage through. The business operations are segregated into four areas including fabrication, manufacturing & production, warehousing & storage, and office & administration. Additionally, the property has acres of developed land that can be conveniently utilized to store materials and completed projects. The site also offers plenty of on-site parking for its workforce and customers.

This opportunity provides the right buyer with significant potential going forward. The Company operates with three rolling mills which account for over sixty-thousand square feet of enclosed plate blending, rolling, and assembly space. Each mill is capable of cold rolling typical steel materials, with the main crane equipped with three twenty-ton overhead cranes. The property also boasts over thirty-two thousand square feet within the main office and shop.

The turnaround to profitability is within reach. After several tough years of cost overruns relating to supply chain issues and a contracting labor market, the company is poised to return to positive cashflow in 2024. During 2023 the Company put bids on nearly $650 million of new opportunities. The company is typically awarded 1.0% to 3.0% of its bids representing $6.5M to $19.5M of new projects as a foundation for growth. Additionally, all new bids have considered recent wage increases, inflationary impact on supply-chain inputs, and increased interest rates. In recent years these costs have increased faster than management could react, which drove down gross margins significantly. Going forward, all newly awarded projects will realize a gross margin between 10% and 30% driving profits in the near term.