Fastest Well Driller in the Country *Project Salang Company A *Project Salang Company B (Contemporaneous Sale) Verified listing

About this Business for Sale

FASTEST WELL DRILLER IN THE COUNTRY
PROJECT SALANG COMPANY A
PROJECT SALANG COMPANY B (Contemporaneous Sale) Project Salang Company A and Project Salang Company B are headquartered in Mindanao, Philippines. The Company has three lines of business: deep water drilling, water supply and heavy equipment for mines and quarries in Mindanao.
• The Objective
• Looking for strategic acquisition buyout opportunities.
• The buyer will get to own a state-of-the-art deep water drilling company having access to an extensive pool of existing contacts and value
relationships.
• The buyer will enjoy a newly signed ten-year contract to develop,
construct and operate a fully functional deep well supplying a
government-owned local waterworks system.
• Management is willing to participate in the transition.
• The Business
• Deep Water Drilling (Project Salang Company A)
• The company takes pride as the most efficient drilling service for water well development and well rehabilitation. The company also offers water survey, mine exploration drilling, drilling for explosives and drilling consultancy, among other services. Drilling operations have been mainly in Mindanao and are now reaching the Visayas and Luzon.
• Water Supply (Project Salang Company A)
• A new business line of Project Salang Construction – In February 2021, the company was contracted by local waterworks to supply bulk water to a community of 100 households for a period of ten (10) years.
• Heavy Equipment for Mines and Quarries (Project Salang Company B)
• Project Salang Company B provides the building and yard, with a total land area of 1.3 hectares, for Project Salang Company A’s manpower and equipment. The company, in addition, has equipment that are rented out to companies engaged in mining and quarrying in Mindanao region.

• Acquisition Rationale
• The World Resources Institute predicts that the Philippines will experience a high degree of water shortage by 2040. This business is a cut above the competition in providing essential water services.
• Strategic rationale: roll-up into contracts and opportunities with large clients and water utilities. Entry into the high-potential market in Mindanao.
• Financial rationale: in addition to incomes from water drilling services, bulk water supply provides a new stream of assured regular income over the long term.

Reason for Sale: Migrating out of the country