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Businesses For Sale > Business For Sale in Allegan County, Michigan (MI)

Established Proprietary Product Machine Shop for sale in Allegan County, MI

Allegan County, Michigan (MI)

Asking Price: Gross: Cash Flow:
$ 1,800,000 $ 1,261,119 $ 248,021

Real Estate:
$ 400,000 (included in the asking price)

Business Summary:
***Special Note: In a victory for small business buyers, the recent $900BB stimulus bill directs the SBA to pay the first 6 months of new SBA 7(a) loans approved between February 1 and September 30, 2021 (up to $9,000/month). Our advice: Don't wait. Find a quality business and get moving quickly. Banks will be busy this year and buyers that wait until July/August will likely lose out.
***COVID-19 Impact Statement: In business for nearly 70 years, the Company has weathered numerous regional economic downturns, the transformation of entire manufacturing industries and processes, and is clearly here to stay. The Company’s longevity has been achieved by focusing intensely on the needs of the customer and maintaining a high level of professionalism. While it is difficult to predict the impact of COVID-19, the owners are confident in a V-shaped recovery. The Company remains operational; however, two employees have been laid off, and sales have declined by approximately 30%. Ownership has applied for the PPP Loan/Grant and is in active and positive communication with their bank.***This well-established machine shop offers milling, turning, fabrication, welding, and roll grinding services to customers in the surrounding region and beyond. Additionally, the Company sells its own patented roll hardness testing meters primarily to large paper manufacturers. The product is widely regarded as the top-of-the-line industry solution, and certain customers use it exclusively to test their products prior to shipping. These products represent a significant growth opportunity as word of their existence has only traveled via word-of-mouth.Ownership has put in place a seasoned General Manager and systems to remove themselves from the Company’s day-to-day operations and monitor performance remotely. Both owners reside out of state, and one owner visits the Business only a few times per year.The Company’s customer base is well-diversified, with long-term relationship customers. Ownership would like to sell to transition to retirement. The real estate is available for sale as part of the transaction and is included in the asking price.*The asking price includes the associated real estate.Thank you for reading this overview. The extent of the information that we are publicly permitted to reveal about this opportunity is contained in this overview. Please submit your contact information in the provided form. We have automated the processing of NDAs and sending of information for speed and efficiency. You will be sent a link to our online NDA. IF YOU DO NOT RECEIVE THE NDA LINK, PLEASE CHECK YOUR JUNK MAIL. If the email cannot be found please email [email protected] and request a PDF version. Once we receive your NDA and answers to some basic questions the Confidential Offering Memorandum (OM) will be sent to you from the project manager. IF YOU DO NOT RECEIVE A FOLLOW UP EMAIL AFTER YOU SUBMIT YOUR NDA, PLEASE CHECK YOUR JUNK MAIL FIRST. If you do not see the email there, please email [email protected] for support. Thank you in advance!

 

   
Year Business was Established: 1949
   
Number of Employees: 7  
   
Facilities / Terms of Lease: The Company’s facilities are in good condition and have passed all environmental inspections. 60% of the buildings’ roof was recently replaced. Equipment is well-maintained by machinists and regularly calibrated to maintain tolerance requirements.  
   
Potential Growth/Expansion: Growth Opportunities Include: 1) Actively Market and Promote Patented Product – Although the Company’s proprietary, patented roll hardness tester is the only one on the market, sales have been generated entirely by word-of-mouth. Actively marketing these products are a huge growth opportunity. 2) Further Diversification of Customers – The Company could enter parallel niches and continue to branch out its end markets. 3) Sales/Marketing – Overall, the Company does not engage in any sales or marketing efforts, which reflects the owners’ conservative approach to growth. Ample opportunity remains for a growth-focused owner.  
   
Competition: Investment Highlights Include: 1) Consistent Revenue and Profitability - Unlike many machine shops its size, the Company has generated extremely consistent sales and high levels of profitability with owners’ discretionary earnings averaging 25% of revenue. Many factors contribute to the Company’s predictable and strong financial performance, including, its core niche, long-term customer relationships and limited competition. 2) Multiple Revenue Streams – The Company’s revenue well balanced between paper manufacturers, non-paper customers and the sale of its proprietary roll hardness testers. 3) Not Owner Dependent – Ownership is not involved in the day-to-day operations, and in fact, visits only a few times per year. Ownership has the systems in place to allow the machine shop side of the business to function smoothly with minimal monitoring by the owner. Ownership oversees the hardness testing meter side of the Business; but could inform new ownership with minimal training and the operation could be run from any location. The workforce is extremely capable and committed, and many have been with the Company for considerable time.  
   
Owner willing to finance: Limited Seller-Financing Available for Qualified Buyers.  
   
Owner willing to train: Ownership willing to provide reasonable and customary transition assistance.  
   
Reason for selling: Retirement.  
   
Seller Reference Number: 028
BusinessMart.com Listing Number: 254455
 

 

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Matt Baas

Small Business Deal Advisors, LLC
844.889.7232

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