Have you ever thought you could do things better? In 2017, four partners formed a company to provide quality geo equipment repair and to source equipment for end users. What began as a fledgling start-up quickly rose to a thriving business with affiliate companies and a worldwide reach. The partners at Seis GEaR (Geo Equipment and Repair) capitalized on their experience in the market and revenue climbed almost immediately. By the end of 2019, annual revenue was over $3.0MM.
Looking to diversify, the company purchased Verif-i, Ltd. in 2018, an established company in the UK that specializes in providing independent auditing and testing of seismic equipment. In the first year after purchase, revenues almost tripled.
With this success, Seis GEaR quickly outgrew its original facility. As a result, in 2020 it purchased a 28,000 square foot facility and relocated the business. The start of 2020 also brought the founding of Nautilus Cables LLC, a partnership between Seis GEaR and EnP Industries. Nautilus engineers, tests, manufactures, and installs dynamic cable and tether solutions to suit the client’s individual needs.
Through smart fiscal management and diversification, Seis GEaR was able to negotiate the severe downturn in the industry caused by the global pandemic where others did not. Through challenging times, Seis GEaR has emerged as an industry leader with a worldwide reach. From company formation to international acquisition, from financing a building to maintaining the books, we at Viking have been proud to help Seis GEaR each step of the way.
Congratulations to Casey, Mike, Dat, Diem, Kev, Bob, and the entire team for a job well done!
If you have any questions about our outsourced CFO and controller services or have a need to raise capital for your growing business, please contact us at 713-454-7641 or info@vikingadvisorygroup.com.