Tombstone 3 crane rental company

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Information about Tombstone 3 crane rental company
Business & Mgmt

Published on March 12, 2014

Author: paulf8000

Source: slideshare.net

Description

CRANE RENTAL, TRANSPORTATION, CONSTRUCTION SERVICES - INC. 500/STARTUP GROWTH STORY

CRANE RENTAL, SPECIALIZED TRANSPORTATION AND CONSTRUCTION SERVICES RAPID GROWTH AND DEVELOPMENT; INC.500 4X EBITDA MACHINE

REALITY Family ownership dynamics Three union workforces Poor systems and controls Constant cash flow Issues No business plan Fleet a mismatch with workload; fleet older Insurance Too High Operating Expenses Excessive

GAME PLAN Address core competencies Improved asset tracking; payroll systems; overtime management; safety and OSHA compliance Develop growth plan Reposition company away from “mom and pop” shop to establish regional and national credibility Cultivate commercial banking relationships with blue chip lenders Grow asset and fleet; strong collateral LEAN warehousing and inventory Step up business development and sales Refocus sales efforts Improve reputational currency

FINANCIAL IMPACT MAJOR CHANGES Sales driven from $2,100,000 to $32,000,000 in four years Achieved peak EBITDA of $7.9 million Landed $38,000,000 in new equipment financing Cut insurance premiums by 60% Acquired and modernized new location Recruited best management team and SME’s in the business Achieved INC.500 status for four consecutive years with 491% growth rate Investment banking effort produced 6 offers for the company to be sold for as much as $45 million

OPERATIONAL CHALLENGES Centralize and improve facilities High cost union labor Small projects Weak margins Poor compliance (OSHA, e.g)

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