Commercial Custom Medical Casework Manufacturing and Installation with $10MM Backlog
Listing ID: CASEWORK2
Entity Classification(M): S-Corp
Annual Sales: $9,396,964
Seller Discretionary Earnings: $1,418,130
Included Inventory: $1,170,000
Year Established: 1994
Days & Hours of Operation: M-F 6-5
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: Active
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 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.
Location: Central North Carolina
Real-Estate: Owned for Lease
Facilities Type: Stand Alone
Monthly Rent: $25,995
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.
Full-time Employees: 35
Support & Training
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.