Mike Trant
Murrells Inlet, SC (USA)
Role(s):
Founder/Owner/Principal
LDV Management Corporation
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Startup
Location:
Murrells Inlet
Industry:
Construction
Year Founded:
2010
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
"C" Corporation
Description:
LDV Management Corporation was founded in 2010 using my self-directed 401k funds. With the help of an SBA loan I acquired a profitable plumbing service company at the beginning of 2011. The first business on my "interest" list, a full service water treatment company, had been withdrawn from sale late in 2010, but is now available again. I had reached the stage of negotiation with the owner where he would accept a down payment ($150-200k), assumption of debt, and he would remain in the business as manager for 12 months after the sale. I am now looking to re-open the negotiation, but since my capital is currently committed to the plumbing company, I am looking for an additional $500k to finance this purchase. The water service company has revenues in the $650-750k range, and was considered feasible for SBA financing at this time last year. The plumbing company will have revenue this year of $350-400k, and after the first six months is showing 10% net. My first goal in establishing LDV was to form a group of companies in specialty service fields, and to achieve revenues of $1mm (plus) as quickly as possible.