This company has been established for well over 50 years. They have an excellent reputation for building custom equipment and general machining needs. Some products include bag machines, carpet manufacturing equipment and textile products, but numerous industries are served.
The owner is in his 80's and is ready to retire. He has a strong staff of employees many of which are cross trained so there is always more than one employee to do any particular job. There is a skilled engineer and draftsman on staff and most employees have been with the company long term. Average production labor runs $17 per hour.
Business is very strong right now and some overtime is being run but the operation functions on one shift. Projected 2019 sales of $6 Million with $1 Million or more in adjusted earnings - same as reported in 2016 and 2017. Straight forward financials.
Seller is a mechanical engineer and will offer adequate training and transition period despite his age as he is in good health. Principals Only - No Brokers, No Buyer Reps - No Exceptions.
Required Licenses: Business
Seller Reference #CHARLNC001-N778
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