Business for Sale Overview:
A very successful 50 year old premier West Michigan full service environmental testing laboratory is listing its smaller, sister pharmaceutical testing division (now separately incorporated) for sale at an attractive $700,000 price.
Since 1999, the pharmaceutical testing service and contract laboratory has offered method transfer, development, validation, and analysis of preclinical and clinical biological samples under FDA GLP protocols in a compliant setting.
The company operates in a terrific 4,000 square feet wing of the larger, environmental laboratory. The business can remain in its current location under a new lease or be relocated. The site has been inspected twice in the past five years with no FDA form 483 inspectional observations. The business is also licensed for controlled substance handling.
The lab is headed by a Ph.D. who would like to remain with the business. He is supported by a Research Scientist, a quality assurance manager and a chemist. Revenues are being generated at an annual $780,000 clip with an annualized cash flow to the environmental lab of over $200,000. In addition to the enterprise value of the lab, the business comes with newer lab equipment that had an original cost basis exceeding $1.2 million. The seller estimates that the highly sophisticated equipment (included in the sale and capable of measuring to miniscule tolerances) has a current $500,000 market value.
This outstanding laboratory opportunity is priced at only 0.9x revenues, 3x cash flow, and only $200,000 more than the fair market value of the equipment. In addition, for qualified buyers, the selling lab will carry a meaningful seller note. For more information on this excellent business opportunity, please contact us.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
4,000 square feet building
Reason for Selling:
New Business Opportunity
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.