The companies offer fully furnished apartments and homes to individuals temporarily relocating for corporate, medical, or internship purposes. The companies also lease furniture and other detailed amenities for its temporary housing and home staging purposes.
· Fiscal Year 2019 revenues of $10.1 million, a compound annual growth rate of 51.0% over the last four years
· Established corporation client base within the rapidly growing Permian Basin
· Healthy rebound from the oil and gas downturn in 2016
· Market share of 75% within the Permian Basin
· Recently established presence in Las Vegas
· Repeat business rate of 75%
· Further develop the newly established market presence within Las Vegas where there is no direct competition within the niche market that it serves
· Expand into further oil and gas centered locations within the United States, taking advantage of the industry’s current uptick by replicating Permian Basin operations
· Opportunity for an acquirer to expand geographic market presence into West Texas
The contiguous United States with a focus in the Permian Basin in West Texas and a new and growing presence in Las Vegas.
The business operates from a 2,500 sq. ft. office space and an adjoining 2,000 sq. ft. warehouse space. It also rents two additional, offsite warehouses. The leases are assumable by new owners, with purchase of the property negotiable.
Two shareholders would like to transition out of the businesses and into other unrelated opportunities. Both expect a full exit after the sale and are open to various deal structures.