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Overview

Manufacturing

Commercial Custom Medical Casework Manufacturing and Installation with $10MM Backlog

Listing ID: CASEWORK2

Entity Classification(M): S-Corp

Year Established: 1994

Annual Sales: $10,670,365

Approximate Backlog:$10,000,000

Seller Discretionary Earnings: $1,418,130

EBITDA: $1,599,922

FF&E: $1,117,000

Inventory: $1,170,000

Included Inventory: $1,170,000

Days & Hours of Operation: M-F 6-5

Full-time Employees: 35

Contractors: 2

Reason For Sale: Other Interests

Limited Seller Financing: Seller will participate and facilitate data delivery to lenders, underwriters and/or SBA as required.

Listing Status: Pending


Summary

Description:

This business is a high-quality design/build/installation casework manufacturing business focused almost exclusively on commercial clients. The business also designs/manufactures/installs ancillary products that carry high margins.

The company has a current backlog of approximately $7,500,000.

Historical Summary:

The business has been in continuous operation for approximately 30 years.

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 a large scale with consistent quality and high margins.

Wake County is regularly rated “best of” cities in a wide variety of measures so the volume of available work due to population growth is significant. The company has reached a scale large enough to compete with the largest national competitors while remaining flexible enough to compete with smaller businesses on medium jobs.

Backlog (November 2023) currently averages ~$7.5 million pushing well into 2024 which is growing. The seller expects that this backlog will be considered when the purchase price multiple is established.

Growth & Expansion Opportunities:

A new owner could expand regionally. The current owner does virtually no marketing of any type. Buyers could establish a residential division selling to new home builders and remodelers. Faster and/or more automated manufacturing equipment could be installed. A second shift and/or 7-day rotating work week could be established.

Competitive Advantages:

Large enough to compete with national manufacturers, small enough to compete with local competitors.

Owner Qualifications:

Owner should possess solid management/HR skills, general accounting. Manufacturing/installation experience is not a requirement as the company employs experienced managers in addition to the owner/operator. Sales and marketing experience also a plus, but not required.

Support & Training:

The seller will provide 80 hours of transition support at no additional cost. Additional transition support is available at market rates if requested.

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Jeff Snell, CM&AP, M&AMI, LMCBI, ABI

Principal Broker & Founder – Raleigh, NC

Office: (919) 341-1100

Cell: (919) 624-1124




Contact Listing Broker

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Real Estate Transaction Handled by

2009 Caminos Drive, Raleigh, NC 27607

Real estate agent's disclosure Form

Location: Wake County, NC

Real-Estate: Owned for Lease

Facilities Type: Stand Alone

Monthly Rent: $30,000

Building Square Feet: 21,500

Facilities Description:

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.