* Included in Asking Price
This Tool & Die business offers a number of services outside of design and building fixtures and special machines as they also have Metal Stamping up to 600 tons, CNC turning & milling, Welding & Fabrication, Design & Engineering, Re-Manufacturing Services for industrial pumps.
Customers with revenues in various industries include: $2.9 M in re-building industrial pumps, $1.4M Outdoor Power, $1.2M HVAC, $1.1M Aerospace, $500,000 Electrical, $300,000 Vending and $100,000 Railroad. There was also $4.5 Million in sales related to Press & Stamping.
The facility is 70,000 SF with another 30,000 SF leased space for re-mfg.
The business has been established almost 40 years and they are a "C" Corporation - as a result the Seller hopes to do a sale of the stock. There are several minority partners in key roles with the operations manager being one of them that is willing to stay several more years. Plant utilization is currently only at about 35%.
Fiscal year end September 30, 2019 had revenues of $12,325,470 with over $2 Million in adjusted earnings. With the Covid 19 situation, sales are expected to be just under $10 Million with a low 7 figure cash flow. The business is mostly debt free and they did accept a $819,300 PPP Loan.
The majority owner is in his late 60's and is mostly an absentee owner who also owns the real estate. It can be purchased or leased for $20,000 per month with an estimated value of approximately $2 Million. One customer has sales of just under $3 Million with the next two largest customers at about $1M each. There are about 10 other customers with revenue in the $200k to $900k and many other smaller customers. Current product mix is 18% Die Builds, 38% Stamping, 11% CNC Machining, 7% Special Machines, 25% Industrial Pump rebuilds. The plant location is ideal as it is close to numerous Fortune 500 companies within a 100 mile radius.
There is no formal asking price but ideally the Seller would like $6 Million for the stock of the company on a debt free basis plus about $2M in assumption of long term debt to the owner which can be negotiated on terms. The real estate is optional. The Seller has a strong preference to find a strategic buyer and is only interested in speaking with those Private Equity Groups who may already own something similar. Principals Only, No Co-Broker and No Buyer Fee Reps - No exceptions please.
Required Licenses: Business, State
|Training/Support:||Seller will negotiate a transition period|
Seller Reference #CHARLNC001-N799
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