Manufacturer Of Conveyors For Food & Material Handler Companies

Business Overview:

This 20 plus year old company manufactures and designs food processing systems and conveyors - belt systems include Straight, Incline and Spiral. Excellent reputation for quality of their products & service. They are able to quote fully installed jobs even when additional services are needed that may be millwright or construction modifications. While 90% of their products go into a certain segment of the food industry, they are well positioned to go into an even larger segment of a very similar food industry requiring similar but heavier duty conveyor systems. Thus, the business could double or triple in size with marketing efforts to this other sector. The owner has some health concerns and will provide a 3 to 6 month transition but may be available for consulting there after There is not currently a #2 person in place to be promoted, but the owner is in discussions with someone he has in mind for the job that would be ideal. The 2022 tax return reflects sales of $18.7 Million with $4.8 Million in net ordinary income (Cash flow exceeds $5M) while sales through the first 8 months are almost $14 Million but have $5.7 Million year to date profits. Seller is looking for a deal in the 4.5 to 5 X range on adjusted earnings. Principals Only. Bill Law cell 704-904-6624 bill@sunbeltbrokers.bizThere is no formal asking price but the Seller does have price expectations of something close to a 5 X multiple on adjusted earnings. The owner is receptive to all fair and reasonable offers. Some Seller Financing may be considered on a Buyer for Buyer basis provided the down payment is sufficient. It is unlikely the Seller will want to retain a minority interest in the company going forward, but it could not be ruled out totally.

To request more information regarding this listing, simply check the ADD TO REQUEST INFO BASKET button and when you are done searching and have made all your selections, simply click on the REQUEST INFO button at the bottom of the page.

Property Features and Assets:

The owner owns the real estate personally, and is open to sell or leased. In March 2023 the property was appraised at $1,600,000 which included his 24,251 SF manufacturing facility on 6.45 acres with an additional unimproved 56.62 acres for an additional $400,000. There is a separate appraisal for additional real estate owned. The owner is open minded to selling or leasing the real estate and if the real estate is purchased he is open minded on what he would sell to a buyer.

Reason for Selling:

Health and Retirement. He loves to fish and has a second home in PR that he has not visited in 3 years.

Additional Details:

Relevant Links:

• View more North Carolina businesses for sale
• View more Businesses For Sale in the same industry
• Sell a business online
• Find a business broker