IT Staffing Company in NYC/CT Region

New England

IT Staffing Company in NYC/CT Region

Asking Price:$1,200,000

Cash Flow:N/A

Gross Revenue:$2,427,000





IT Staffing Company in NYC/CT Region

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Business Description

THIS COMPANY IS CURRENTLY UNDER A LETTER OF INTENT WITH AN EXPECTED CLOSE DATE OF NOVEMBER 30TH. The company is ten years old and has always consisted of the placement of talented IT professionals with top companies.

The client list is small - only three clients - but this company has provided services to the top two customers for most of the time they have been in business. They have worked into a Tier 1 status which ensures they are given the first opportunity to fill orders.

Sellers prefer not to remain past the transitional period, if possible. But an experienced operations manager, who has been in place for 3+ years, will remain post-sale and will continue to lead the operations of the company.

Detailed Information

5 incl 2 owners
Sellers occupied an office 1,150 sf office for eight years. Recently, they did some "right-sizing" of their staff to maximize performance. Since the lease was nearing its expiration date, Sellers elected to move into executive space for roughly half the cost. The current lease is three months and it auto-renews if not cancelled.
The office is well placed in the financial area of the city. This company specializes in a certain segment of IT staffing for which they are one of a very limited number of providers.
Growth & Expansion:
The growth opportunity for this company is almost limitless. They have not had sales resources developing business for years. One of the two sellers actually works at their largest client site on a separate statement of work. With just a little effort, the services could be expanded to new clients and they could even fill all of the orders coming from the clients instead of having to turn down orders because of resource limitations.
Support & Training:
Remaining staff and one of the owners will provide transition support and training.
Reason for Selling:
Husband and wife are owners and the reason to sell is a personal one.

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Business Listed By:

Chartwell Business Advisors

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