5.0.-14.0. EDSR 09-13-1993 - Laserfiche WebLink

Home Browse Search

• LENDER'S ANALYSIS Water Laboratories. Inc. HISTORY/MANAGEMENT: Water Laboratories, Inc. is a C corporation located in Elk River, MN since 1988. The corporation is a service provider that specializes in drinking water analysis. The lab is certified by the MN Department of Health, and is able to perform the Safe Drinking Water Standards of Nitrates and Coliform Bacteria. The lab is capable of performing approximately fifty different tests in addition to Nitrates and Coliform Bacteria testing. The customer base of Water Laboratories, Inc. has grown given the increasing demand for environmental testing. For example, when a new well is drilled, it must comply with the Safe Drinking Water Standards before being hooked up to the home for consumption. Kevin estimates that 2/3 of samples come from well drillers. In addition, mortgage companies and FHA/VA mortgage loan programs require a water test on properties that have a well. The trade area Water Laboratories, Inc. serves has a heavy concentration of homes served by private wells. Finally, day care centers relying on a private well need to have their water tested annually, and fluoride testing is also recommended prior to giving fluoride supplements. Along with environmental awareness, Central Minnesota's population growth will continue to • threaten ground water supplies. As development continues, the ground water sources will be exposed to more pesticides, herbicides, and general pollution. Minerals and pollutants from land fills, such as lead, continue to be of concern to communities. The closest competing state certified laboratory is Field Engineering located in Champlin, MN, approximately 25 miles southeast of Elk River. The two companies have a good working relationship and no hostile competition exists. Field Engineering is limited to performing only nitrates and coliform bacteria testing, compared to Water Laboratories' fifty tests. The pricing of services between the two companies is virtually the same. Water Laboratories, Inc. has been owned by Kevin Kloeppner since October 1991. One and one half years prior to purchasing the business, Kevin worked in the lab as a manager. The lab was previously owned by Craig Wiley. Kevin serves as the president of the corporation, and his wife, Cynthia, is Corporate Secretary. Kevin manages all laboratory operations, and Cynthia manages all office operations. Kevin has a degree in Water and Waste Treatment Technology from St. Cloud Technical College and is a member of the Central Minnesota Water Quality Task Force. Cynthia is a graduate of St. Cloud Business College with a degree in bookkeeping and accounting. ECO-Systems Engineering, Inc. is a Subchapter S corporation under the same ownership and management that specializes in the testing of septic systems. This line of business is a good complement to Water Laboratories, Inc. because Kevin has expertise in this field, and clients • who need to have private wells tested often need to have their private sewer and septic systems tested.