“POSEIDON” is a full-service ship repair company serving the U.S. military and large shipyards via long-term contracts. The Company holds key credentials and qualifications to work directly with the U.S. Navy and is a preferred vendor to major defense contractors. POSEIDON is recognized for it’s exceptional quality, safety, and expertise in mechanical, structural, electrical, and hydraulic systems.
Founded 15+ years ago, POSEIDON is staffed with a strong management team and ±30 highly skilled laborers. The Company enjoys repeat business from key customers given the demand for ship repair and modernization. Revenues and EBITDA are tracking $10.5M and $1.5M, respectively, in 2018. POSEIDON’s focus over the next 12 months is targeting larger contracts and pursuing more subcontract work given the Company’s preferred status and available low hanging fruit.
The majority shareholder is approaching retirement and interested in exploring his succession plan over the next 1-3 years. The ideal buyer brings relevant government contract experience and operates under a high degree of integrity, consistent with the U.S. military’s expectations.
The business operates out of a 20k+ square foot facility with machining, fabrication, welding and testing capabilities. POSEIDON is strategically located near major shipyards and military bases in an attractive market.