Internal ID:
Price:
Total Sales:
EBITDA:
Seller Discretionary Earnings:
FF&E:
Industry:
Year Established:
Days and Hours of Operation:
Reason for Sale:
Listing Status:
CABINET3
$5,500,000
$7,814,028
$994,911
$1,094,911
$1,137,000
Manufacturing
2011
M-F 6-5
Other Interests
Active
Description:
This business is a high quality design/build/installation cabinet manufacturing business focused almost exclusively on commercial projects. The business also designs/manufacturers/installs ancillary products that carry high margins.
Historical Summary:
The business was started in 1989 and incorporated in 1996. The business has grown and as a result been relocated several times. Currently, raw materials cost through COVID have remained stable with minor fluctuations, but delivery times have been adversely impacted to some degree due to shortage of delivery drivers. The reported gross revenue, net profit and EBITDA numbers have one quarter of adverse performance as a result of COVID.
Competition:
Competition exists in various forms from big box retailers to one man firms in a rented storage facility, but very few can provide the range of products and finishes at large scale with consistent quality and high margins. Wake County was again rated the second best city to live in America so the volume of available work due to population growth is significant. The company has reached scale large enough to compete with the largest national competitors while remaining flexible enough to compete with smaller businesses on smaller jobs.
Backlog (July 2022) currently averages ~$10 million pushing into 2022 which is growing on a weekly basis. Seller expects that this backlog will be considered when the purchase price multiple is being established.
Growth and Expansion:
New owner could expand regionally. Current owner does virtually no marketing of any type. Buyer could establish a residential division selling to new home builders and remodelers. Faster and/or more automated manufacturing equipment could be installed. Second shift and/or 7 day rotating work week could be established.
Location:
Real-Estate:
Facilities Type:
Monthly Rent:
Building Square Feet:
Facilities Description:
Central North Carolina
Owned for Lease
Stand Alone
$25,995
21500 This business is currently located in a 21,500 foot facility owned by its current owner. The land and building are not being offered for sale. 5,000 square feet of office including a high-end product showroom flows into a 16,500 square foot manufacturing/fabrication shop. Phone system is leased and monthly expense will be assumed by buyer.
Full-time Employees:
Contractors:
35
2
Owner qualifications:
Owner should possess solid management/HR skills, general accounting. Manufacturing/installation experience is not a requirement as the company employs three managers in addition to the owner/operator. Sales and marketing experience also a plus, but not required.
Support and Training Comments:
Seller will provide 80 hours of transition support at no additional cost. Additional transition support available if requested.
Seller Financing:
Yes, Seller will provide lender required financing no more than 10%
Seller Financing Comments:
Seller will participate and facilitate data delivery to lenders, underwriters and/or SBA as needed.
2009 Caminos Drive
Raleigh, NC 27607
Internal ID: CABINET3
Price: $5,500,000
Total Sales: $7,814,028
EBITDA: $994,911
Seller Discretionary Earnings: $1,094,911
FF&E: $1,137,000
Industry: Manufacturing
Year Established: 2011
Days and Hours of Operation: M-F 6-5
Reason for Sale: Other Interests
Listing Status: Active
Description: This business is a high quality design/build/installation cabinet manufacturing business focused almost exclusively on commercial projects. The business also designs/manufacturers/installs ancillary products that carry high margins. The business was started in 1989 and incorporated in 1996. The business has grown and as a result been relocated several times. Currently, raw materials cost through COVID have remained stable with minor fluctuations, but delivery times have been adversely impacted to some degree due to shortage of delivery drivers. The reported gross revenue, net profit and EBITDA numbers have one quarter of adverse performance as a result of COVID.
Historical Summary:
Competition: Competition exists in various forms from big box retailers to one man firms in a rented storage facility, but very few can provide the range of products and finishes at large scale with consistent quality and high margins. Wake County was again rated the second best city to live in America so the volume of available work due to population growth is significant. The company has reached scale large enough to compete with the largest national competitors while remaining flexible enough to compete with smaller businesses on smaller jobs. New owner could expand regionally. Current owner does virtually no marketing of any type. Buyer could establish a residential division selling to new home builders and remodelers. Faster and/or more automated manufacturing equipment could be installed. Second shift and/or 7 day rotating work week could be established.
Backlog (July 2022) currently averages ~$10 million pushing into 2022 which is growing on a weekly basis. Seller expects that this backlog will be considered when the purchase price multiple is being established.
Growth and Expansion:
Location: Central North Carolina
Real-Estate: Owned for Lease
Facilities Type: Stand Alone
Monthly Rent: $25,995
Building Square Feet: 21500 This business is currently located in a 21,500 foot facility owned by its current owner. The land and building are not being offered for sale. 5,000 square feet of office including a high-end product showroom flows into a 16,500 square foot manufacturing/fabrication shop. Phone system is leased and monthly expense will be assumed by buyer.
Facilities Description:
Full-time Employees: 35
Contractors: 2
Owner qualifications: Owner should possess solid management/HR skills, general accounting. Manufacturing/installation experience is not a requirement as the company employs three managers in addition to the owner/operator. Sales and marketing experience also a plus, but not required.
Support and Training Comments: Seller will provide 80 hours of transition support at no additional cost. Additional transition support available if requested.
Seller Financing: Yes, Seller will provide lender required financing no more than 10% Seller will participate and facilitate data delivery to lenders, underwriters and/or SBA as needed.
Seller Financing Comments:
2009 Caminos Drive
Raleigh, NC 27607
