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Manufacturer of Industrial Patterns for Foundry & Office Furniture

MI

Manufacturer of Industrial Patterns for Foundry & Office Furniture
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Asking Price: $600,000

Cash Flow: $300,000

Gross Revenue: $1,600,000

EBITDA: N/A

FF&E: $200,000

Inventory: $150,000

Rent: $2,083.33 /Month

Established: 1966

Manufacturer of Industrial Patterns for Foundry & Office Furniture

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Business Description

This company has been in business for over 50 years and has been owned by the current ownership group for over 30 years. The business specializes in contract precision work, creating industrial patterns, molds and other specialty parts for the metal, wood and plastic industries. In conjunction with the precision work, many parts need machining as part of the overall production process and the company has the ability and capability to finish and machine castings specific to a customers' design. Products are sold to Original Equipment Manufacturers not only in the office furniture industry but also commercial, industrial and utility vehicle markets as well as the foundry industry. Machining is typically done for wood and other metal related customers dealing in furniture and agriculture. A unique opportunity to acquire a strong company with a solid product history and reputation. Real estate is leased from a related owner and included in the total asking price of $600,000. Estimated value of real estate $400,000. Sellers will consider all proposals for merger or acquisition.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
23,200
Lease Expiration:
12/31/2019
Employees:
6 FTE, 1 PTE
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The company operates from two standalone facilities. Manufacturing is housed in a 12,000SF leased facility, while a machine shop operates from an adjacent 11,200SF building, both of which are owned by a related party and included in the asking price.
Competition:
A unique operation with limited competition in the general geographic region.
Financing:
The business is being offered at an all cash price.
Support & Training:
Seller will train and orient a buyer in the overall business operations as part of the sale process.
Reason for Selling:
Retirement of majority shareholder.
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(from currently available funds)
 
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Roger Rumble

Business Listed By:
Roger Rumble

The Stratford Associates, Inc.

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