The 77 year old founder/owner of his very successful 25 year old Michigan is ready to retire and wishes to sell his business.
The company posted $12,500,000 revenue in 2014 and generated an EBITDA of nearly $1,800,000. The business has several niche profit centers including: (a) tooling – design and build; (b) production of high pressure castings for prototypes and/or short runs; and (c) machine castings to customer specifications. The company services primarily the automotive industry with quick turn proto-types (no longer than 8 weeks from drawing to finished parts), the company has vendor codes with several major OEM's.
The business operates from two attractive, neighboring plants (which the owner prefers to lease), in a well situated industrial park. The facilities have a combined 67,000 sf, and well maintained state of the art machinery and equipment. Ninety younger (nearly all employees are under 50 years old), skilled, non-union employees manage and operate the business during 1 shift totaling about 40-50 hours per week. An additional 2nd shift could be added in order to increase capacity. The office works normal business hours, 8:00 AM to 5:00.
The business is being offered with fixed assets and inventory for $4,500,000. They buildings could be purchased, they have an additional value of about $3.0 million. The accounts receivable of about $1,800,000 are not included in the sale price and must be purchase separately. The owner is willing to consider retaining a minority stake in the company, or requires all cash at closing upon sale of the company.
Asking Price Between $2,500,000 and $5,000,000
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