This dealer/distributor, currently based in Connecticut, sells, installs and services specialty equipment used by several different but related industries across three states. In recent years current ownership has successfully shifted more of the company’s business focus to a more specialized, higher margin industry subset, which grew to approximately 45% of revenues in 2015. In addition, the company has added a number of related product lines to its core business and can now provide a full array of core and complementary equipment and fixtures, i.e. “turnkey” solutions. The company is one of the largest equipment dealers of its kind in the Northeast and also carries an extensive inventory of parts and a reputation for outstanding service. Providing this full complement of equipment and parts, and the capability to keep their customers businesses fully operational through superior service, provides the company with a key competitive advantage.
Ownership worked for several years to reposition the business, operating at essentially breakeven as it expanded the product line and shifted its focus to higher margin areas. A significant portion of the higher margin business involves long contract lead times and in 2015 the company’s progress was confirmed by a substantial improvement in sales and EBITDA, which were $6.0 million and $566,000, respectively. The business currently has a back log of contracted work of approximately $3.1 million and a significant pipeline of large pending and potential jobs. Results in 2016 are expected to meet or exceed the levels achieved in 2015. While the company is currently based in Connecticut, a major area of growth and future opportunity lies in eastern Massachusetts. An important next step in the company’s progress is the establishment of a physical presence in that market.
The owners have reached retirement age and feel now is an appropriate time to transition the business to someone else who can continue to build the company. They are committed to supporting an orderly and successful transition to new ownership.
The company is offered on an asset sale basis for $2,750,000.
Asking Price $2,750,000
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