Business Detail
Since 1995, this company has been manufacturing the world’s ONLY, NO Service / NO Repack fiberglass life raft which is Transport Canada & US Coast Guard approved and meets all Solas SLA regulations. They have a number of advantages over the conventional inflatable life rafts including the facts that they don’t require the expensive annual inspection and repacking.
What is unique about these life rafts? Everything! With an unlimited shelf life, Company's life rafts are indestructible, watertight, unsinkable, self-righting and fire retardant. The dual fiberglass hull foam core construction provides incomparable protection from hypothermia and strength to withstand severe impact.
The best part, safety is not prone to recessions.
Experts estimate that half of all drowning victims die from hypothermia. Because this raft can be boarded on deck, it will permit the crew of a sinking boat to get inside the life raft without getting wet. They can also be used as a safe haven to wait out a storm without launching. If required, they can be launched manually from inside / outside or automatically via a hydrostatic release mechanism.
Since 1995, the company has sold over 900 rigid life rafts and saved more than 35 lives without one injury (100% successful rescue). All Company's life rafts used for rescue were put back in service. When the life raft is your last option, this product provides peace of mind.
TESTIMONIAL: "We used the raft as a safe haven and waited inside. When the boat sank, we floated free. The conditions were so bad that we may not have survived if we had jumped overboard."
"We were in the raft and trapped under the stabilizer boom/stay wires. As the boat went down we popped up like a cork. The raft's design saved us."
Company has exhausted its capital by making the molds doing studies and getting all the approvals and patents. Now company needs investors to take a majority stake in the company and to bring it to the next very profitable stage. All the ground work has been done. Products were sold mostly on a very local level. As an example: The west coast of the USA has 20 times the potential of the area that has already been covered.(Data is available) If we only take 12% of 900 rafts sold and multiply this by 20 it will generate 2160 rafts sold in the next 4 years. They can be manufactured on 2 shifts of 4 men each on the east and the west coast. That represents an EBITDA of about 8 million for the 4 year period and only for North America.
Market potential is worldwide. Other plants could also be open in other parts of the world. It cost $150-200,000.00 to manufacture another sets of molds from the originals for any new plant.
Actual owner is willing to stay on board as a minority shareholder for the next 10 -15 years.
At this stage, capital is needed to promote the products and to sustain growth.