Business for Sale Overview:
The partners of this successful 40 year old manufacturing company are interested in going their separate ways. Their solution - sell their excellent business which is located in a very attractive, 10 year old building situated on 4-1/2 acres in Southeast Michigan. The company has a proprietary product line attractively displayed in both printed literature and on its corporate website. The business consistently records sales of $2.0 - $3.0 million with a very attractive SDE (seller’s discretionary earnings) exceeding $500,000. The listing price of the business is $1.95 million and includes over $250,000 of inventory, and machinery and equipment of nearly $500,000 (value in place). The company is a leading fabricator of magnetic equipment products. It designs and builds metal scrap conveyor systems, conveyor components and permanent holding magnets. The company offers a unique beltless magnetic conveyor that provides positive chip separation and removal. The company employs 12 (excluding the two partners) non union personnel. The staff includes inside sales, administrative, design engineers, shop manager, and assembly personnel. Wages range from $11.00 - $18.00 per hour. The business also has a series of independent commission reps to augment the sales efforts of the partners. The real estate is owned by the partners (outside of the business) and is available with a favorable lease of $10,000 monthly (less than 5% of sales), or it can be purchased (in a separate transaction) for $1.25 million. The business is attractively priced at 2.0x SDE plus inventory at cost plus the value in place of machinery and equipment. Accounts receivable and all liabilities will be retained by the sellers. For well qualified buyers, there could be as much as 50% of the purchase price available in a seller notes.
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.
Reason for Selling:
Dissolve Partnership
Additional Details:
- The property is leased.
- The owner is not 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.