Primary Category:Commercial Machinery & Industrial Businesses for Sale
This 20 plus year old company manufactures and designs food processing systems and conveyors - belt systems include Straight, Incline and Spiral. Excellent reputation for quality of their products & service. They are able to quote fully installed jobs even when additional services are needed that may be millwright or construction modifications.
While 90% of their products go into a certain segment of the food industry, they are well positioned to go into an even larger segment of a very similar food industry requiring similar but heavier duty conveyor systems. Thus, the business could double or triple in size with marketing efforts to this other sector.
The owner has some health concerns and will provide a 3 to 6 month transition but may be available for consulting there after There is not currently a #2 person in place to be promoted, but the owner is in discussions with someone he has in mind for the job that would be ideal. The 2022 tax return reflects sales of $18.7 Million with $4.8 Million in net ordinary income (Cash flow exceeds $5M) while sales through the first 8 months are almost $14 Million but have $5.7 Million year to date profits. Seller is looking for a deal in the 4.5 to 5 X range on adjusted earnings. Principals Only. Bill Law cell 704-904-6624 [email protected]
There is no formal asking price but the Seller does have price expectations of something close to a 5 X multiple on adjusted earnings. The owner is receptive to all fair and reasonable offers. Some Seller Financing may be considered on a Buyer for Buyer basis provided the down payment is sufficient. It is unlikely the Seller will want to retain a minority interest in the company going forward, but it could not be ruled out totally.
Financial Information
On request
Asking Price
$5,001,026
Cash Flow
$18,702,904
Gross Revenue
On request
Down Payment
Yes
Financing
Business Location
City:
Raleigh
State:North Carolina
Financing Comments
The owner is receptive to all fair and reasonable offers. Some Seller Financing may be considered on a Buyer for Buyer basis provided the down payment is sufficient. It is unlikely the Seller will want to retain a minority interest in the company going forward, but it could not be ruled out totally.
Reason for Sale
Health and Retirement. He loves to fish and has a second home in PR that he has not visited in 3 years.
Detailed information
Year Established:2002
Home Based:No
Franchise:No
Relocatable:No
Lender Prequalified:No
SBA Prequalified:No
Full-Time Employees: 25
Part-Time Employees:N/A
Contractors:N/A
Owner Worked Hours/w:N/A
Adjusted EBITDA:
On request
Inventory Included: No
Inventory Value:
On request
Monthly Rent:
On request
Real Estate Available: No
Real Estate Included: No
Real Estate Value:
$1,600,000
Building Size: 24250
FF&E Included?: Yes
FF&E Value: On request
Training/Support
Seller will negotiate a transition period
Facilities
The owner owns the real estate personally, and is open to sell or leased. In March 2023 the property was appraised at $1,600,000 which included his 24,251 SF manufacturing facility on 6.45 acres with an additional unimproved 56.62 acres for an additional $400,000. There is a separate appraisal for additional real estate owned. The owner is open minded to selling or leasing the real estate and if the real estate is purchased he is open minded on what he would sell to a buyer.
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