Profitable Manufacturer of Outdoor Vinyl Products

Not Disclosed, MI
Jackson County

mid-Michigan


Asking Price: Annual Revenue:
$1,395,000 $4,000,000

Manufacturing: Plastics


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RE: Profitable Manufacturer of Outdoor Vinyl Products Broker: Mike Greengard

Quick Facts

Asking Price: $1,395,000
Annual Revenue: $4,000,000
Net Profit: Not Disclosed
Cash Flow: $325,000
Total Debt: Not Disclosed
FF&E: $515,000
Real Estate: Not Disclosed
Year Established: 1987
Employees: 19
BBN Listing #: 626731216
Broker Reference #: MG1071519

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Business Overview:

The founder-owner-seller of this successful, attractive, and value-priced 32 year old manufacturing business has now reached retirement age and, as such, looks forward to transitioning his business to only its second owner-operator.

Located in a desirable mid-Michigan community, the business and its 19 non-union employees operate in an attractive 50,000 square foot late model facility which offers manufacturing, warehousing, office, and showroom under one roof. 2/3’s of the employees are seasonal, working the eight temperate months. The real estate, owned by the seller, may be purchased in a separate transaction for an attractive combination of price and terms. Alternatively, the buyer may enter into a very favorable lease (at less than 2% of revenues) which will satisfy SBA banking requirements.

The company manufactures low-maintenance, durable vinyl products designed for outdoor, residential use. The company has extensive product offerings including lines of privacy fencing, decks, porch railings, gazebos, arbors, trellises, skirts, and the like. There is even equine fencing. And the company is one of just a few in the industry which also fabricates custom fence and porch railing designs.

With annual sales averaging $4.0 million, the business gets the preponderance of its revenues by selling to wholesalers located within 150 miles of its plant. The balance of the business is retail sales coming from a combination of word-of-mouth, the company’s showroom and/or its attractive website. There is no customer concentration – the largest customer represents less than 10% of revenues.

Over the past three years the business has had an average annual SDE (seller’s discretionary earnings – the normalized cash flow available to pay an owner-operator and service debt) of $325,000. The business is priced at $1.395 million, a 4.3x multiple of SDE. The seller envisions an asset sale in which he retains cash and A/R while retiring all liabilities. In addition to the goodwill of the business, the buyer will receive approximately $1.265 million (cost basis) of active inventory and $515,000 (cost basis) of serviceable machinery/equipment. The combination of these assets represents $1.78 million of value which is $400,000 greater than the $1.37 million listing price. In addition, the seller will offer ample transition training (as part of the purchase price), and for a qualified buyer, the seller will also carry a low to medium six figure seller note.

To learn more about this value priced, well-established, and cash flowing manufacturing business, please contact Mike Greengard or email us.

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Property Features and Assets:

Located in a desirable mid-Michigan community, in an attractive 50,000 square feet late model facility.

Reason for Selling:

Retirement

Additional Details:

  • The property is owned.
  • 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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