Logistics & Delivery for Refrigerated Foods

This logistics and delivery business primarily works with food production companies that need product distributed to stores across the United States. They are a B2B operation and have been servicing these clients since 1989, providing high-quality climate-controlled logistics solutions to their diverse client base made up of 85% repeat customers. These transportation services are focused in climate-controlled food deliveries with shipments ranging from###-###-#### ,000lbs, they also offer warehousing, but distribution makes up 90% of their annual revenue. The business has a 20,000 square feet location in Milwaukee WI, 18,800 of which is warehouse space and 1,200 is office space. The purchase of this business also includes $1.2M in assets consisting of nearly $700,000 in vehicles and equipment as well as $600,000 in AR. In the business’s 30+ years of service, they have built up an excellent reputation and extremely experienced staff. This skilled team consists of 28 total employees including 3 team leads, 13 long haul drivers, 4 local drivers, 6 warehouse workers, and 2 dispatchers which allows them to self-perform all driving, they do not use any outside contractors. Not only is this business valuated with a low multiple of 3.4, the current owners have offered a 1–3-year transition/training period as well as 12.5% seller financing which is above the industry average of 10% and shows an ongoing investment in the success of the business. Both of the current owners are active in the business and a replacement or retainment salary has been accounted for in our cash flow analysis and financial information. One owner handles financials, sales, and pricing and the other handles overseeing the leasing, purchasing, and maintenance of equipment. One person could do both roles with the addition of an outside book keeper, however, to ensure a smooth transition, the seller has agreed to stay up to 3 years. Growth opportunities that new owners could pursue moving forward include building on current partnerships: increasing the amount of storage being utilized by these clients or transitioning clients from one side of business to taking advantage of both the warehousing and transportation services offered. Priced at $2,400,000, this business is ready for new ownership to take over and continue the pattern of growth that has been enjoyed in recent years as well as continuing to build on their current long-standing legacy