Industrial Racking Manufacturer & Machine Shop

IA

Industrial Racking Manufacturer & Machine Shop
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Asking Price: $1,600,000

Cash Flow: N/A

Gross Revenue: $6,340,000

EBITDA: $480,000

FF&E: $1,230,000

Inventory: $675,000

Real Estate: $1,900,000*

Established: 1992

*not included in asking price.

Industrial Racking Manufacturer & Machine Shop

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Business Description

Family owned since the early 1990's, the Business is a tier 2 supplier and manufacturer of OEM industrial racking and related products, with an additional medium and small precision parts machining and fabrication division.

The Seller is seeking a strategic or financial buyer to acquire all of its assets or all of its S-Corp shares. Current second generation leadership is a non-shareholder and is very open to remaining in a leadership and/or business development role with new ownership.

2012-2018 Annual Sales Average: $6,340,000
2012-2018 Annual EBITDA Averages: $480,000

Equipment: The Business provides production and prototype manufacturing, modifications and repairs of reusable stackable shipping metal racks and containers. This Business specializes in deep drawing material for its customers, as well as production and assembly welding. The Business forms steel with substantial brake and stamping presses and operates powder coating, wet and CARC painting lines. The Business' equipment's FMV is appraised at $1,230,000. The Business carries approximately $675,000 of inventory.

Staff & Marketing: The employs 18-20 FTE and approximately 10 PTE, some as temp to hire. The team includes a second generation president, estimator-project managers, various operational supervisors, administrative staff and a single sales rep. Non-labor staffing and supervisory average tenure is 12 years. The CFO position has recently been filled by a temporary to work hire, and is an open position. And the Business has an opening for an Estimator. The Business generates very little out-bound marketing and advertising and has a very thorough and useful, mobile ready, responsive website with capabilities video.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Owned
Not included in asking price
Building SF:
100,000
Employees:
28
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The Business is located in an Eastern Iowa industrial area (potentially viable for Opportunity Zone advantages) and has over 100,000 square feet under roof on 4.25 acres, appraised at $1,900,000.
Competition:
Customers & Markets: Agriculture Automotive Building Materials Construction Chemical Distribution & Warehousing Glass Military Recycling Rubber Tire Textile Transportation
Growth & Expansion:
Growth opportunities include re-tooling current sales compensation standards, deploying an out-bound branding and marketing effort, investment in upgraded laser cutting equipment to cut thicker materials, and cost-accounting analysis of work products by customer and type. Accreditations: CCR Registered ORCA Registered JCP Registered FedTeds Registered Certified ISO 9001-2015
Support & Training:
Capabilities: CARC Painting Deep Drawing Fabricating Laser Cutting Machining Powder Coating Production Welding Shearing Sawing Steel Forming Steel Stamping Weld Assemblies Wet Painting
Reason for Selling:
Seeking strategic leadership for growth
Business Website:
http://www.marigoldresources.com/listings/racking
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(from currently available funds)
 
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Chris Barnard

Business Listed By:
Chris Barnard

Marigold Resources

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Sponsoring Broker:
Todd McGreevy

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