Location
Contact Person
Michael Greengard
Phone
616-588-4640
Annual Revenue
$ 1,400,000
Price
$ 595,000
Cashflow
$ 100,000
Category
Manufacturing
Year Established
1984
Employees
11
It has been a great 30 year run for the founder-owner-seller of this attractive manufacturer of quality hardwood interior and exterior doors and interior trim packages, but he has now reached retirement age so he is looking to transition his business to only its second owner. His anticipated retirement could be your opportunity.
Located in an attractive, well maintained, free standing building (owned by the seller and available for a favorable lease or sale in a separate transaction) in an industrial park in West Michigan, the business is located close to major interstate highways.
With 11 skilled, non-union employees operating in the 35,000 sf facility jammed with over $1,000,000 (value in place) of dedicated machinery, equipment, and tooling, the business consistently records annual revenues of $1,400,000 and just under $100,000 of SDE (seller’s discretionary earnings – the cash flow available to pay an owner-operator and service debt).
With a customer base that reads like a “Who’s Who” in retail and wholesale sales of construction materials, the company has no customer concentration (the largest customer accounts for less than 15% of sales). The company works in oak, birch, cherry, hard maple, walnut, and mahogany along with other hardwoods. In addition to its extensive lines of standard mouldings and doors, the company also specializes in custom manufacturing. The company’s offerings are spelled out in an attractive and interactive website.
This is an exceptional opportunity for a buyer who wants a nominally underperforming business which has the space, equipment, and customer base to grow significantly and quickly. With an asking price of just $595,000 plus inventory ($75,000 at 12/31/13), the business is being offered for just 40% of revenues and significantly below asset value. And for an aggressive, undercapitalized buyer, the seller will offer a low six figure seller note.
To learn more, please contact Mike Greengard (mgreengard@praxisbusinessbrokers.com or 616-450-0707).
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Reason for Selling
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