Manufacturing of Corporate & Collegiate Apparel

Not Disclosed, IA
Des Moines County

Des Moines, Iowa (design & sales) and Vietnam (pro


Asking Price: Annual Revenue:
$16,500,000 $59,990,006

Manufacturing: Clothing, Jewelry


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RE: Manufacturing of Corporate & Collegiate Apparel Broker: Cortney Sells
Owner Financing is Available!
Purchase Price: $16,500,000 15% Buyer Down Payment $2,475,000 15% Seller Financing or Equity Roll $2,475,000 70% Bank Loan $11,500,000 A 15% down payment of $2,475,000 returns $2,069,555 in the first year after debt payments!

Quick Facts

Asking Price: $16,500,000
Annual Revenue: $59,990,006
Net Profit: Not Disclosed
Cash Flow: $4,161,997
Total Debt: Not Disclosed
FF&E: $7,252,840
Real Estate: Not Disclosed
Year Established: 1984
Employees: 117
BBN Listing #: 51534398
Broker Reference #: MFG010

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Business Overview:

With nearly $60M in sales in 2020, this contract manufacturing company has a full management staff already in place! Their Des Moines, Iowa office handles all sales, design, and order management; their office in Vietnam is used solely for the production/manufacturing side of the business. The U.S. team of 32 is spread among several departments, including Design & Graphics, Marketing & Graphics, Web Development, Order Admin, Warehouse, Logistics, Accounting, HR, and Sales & Customer Service. The full-time team of 85 employees in Vietnam includes a Manager for each of their Cap, Bag, and Garment Departments, along with merchandisers, embroidery & graphic staff, Quality Control, pattern makers, design techs, accounting, warehouse, sourcing & procurement, and logistics personnel. Using a proprietary web platform to process and track all projects, this company’s client base consists primarily of corporate identity and specialty product distributors. With their own brand already established, they have been able to solidify themselves in the market, acting as an official outfitter/sponsor for clients. They are currently licensed with 18 colleges/universities in the U.S., enabling them to manufacture their brand with the university’s logo. This portion of the business accounts for approximately 10% of their revenue, while the other 90% is essentially through large specialty product distributors.

The design team in the US office works with each client to customize their order based on their specific requests. They create an image and load it into their proprietary website program, at which point the Vietnam team creates the sample and the US team makes sure it meets the customer’s requests. The order then moves on to the production phase in Vietnam; the logistics teams from both offices coordinate the shipping phase (by air or by sea) and makes sure the product goes to the correct port and is distributed to the customer in a timely manner. The average length of time from an order being placed to being delivered is 55-65 days.

Priced at $16,500,000, this company has the potential to grow ten-fold. A buyer already in logistics and/or manufacturing could expand what they are already doing. The brand is already established, so a buyer with marketing knowledge and abilities could expand that brand within their own customer base and truly take this business to the next level.

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Property Features and Assets:

Lease: Iowa: 30,000 square feet including 24,000 square feet warehouse; Vietnam: 24,000 square feet including 15,000 square feet warehouse. Equipment: US: $42,088; VN: $45,595: Furniture, fixtures, computers, racking, shelving. US Inventory: $5,082,211 VN Inventory: $2,082,947 US A/R: $1,242,192 VN A/R: $910,783 Intangible Assets: Long-term loyal customer base, with some customers having 20-year tenure, strong word-of-mouth advertising.

Market Competition and Expansion:

Increase brand awareness among existing customers, expand client base, pursue more collegiate partnerships, create relationships with other sponsors.

Reason for Selling:

Divestment

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.

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