Overview

Other Building and Construction

Specialized Concrete Forming Equipment Manufacturer

Price: $735,000

Listing ID: CONCRETE2

Annual Sales: $1,016,820

FF&E: $30,950

Seller Discretionary Earnings: $235,592

Year Established: 1990

Days & Hours of Operation: M-F 8-5

Inventory: $125,093

Reason For Sale: True Retirement

Listing Status: Active

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Summary

Description:

This company designs and builds concrete-forming equipment. The company has four core models that can be customized to specific customer specifications and customized equipment to meet specific customer requirements. The business also accepts trade-ins and sells refurbished used machines.

Historical Summary:

This company was established in the 1990's. The founder and owner had worked for a larger manufacturer of concrete equipment and felt the need for smaller alternatives. Originally the company sold concrete accessories and used equipment. In 1997, they began manufacturing machinery. Over the years additional models were introduced based on customer input. The company has received industry recognition for new products from Construction Equipment magazine and from Better Roads magazine. Today this company has machines working on six continents around the world. The current inventory is comprised of $40,000 of parts and $50,000 of work in process at landed cost. There is currently $30,000 of excess parts inventory that will be sold in addition to the purchase price at cost. This inventory was purchased to mitigate COVID related supply chain issues and will be reduced over time.

Competition:

This business has only one competitor who competes in the machine size and price range.

Growth & Expansion:

Manufacture larger pieces of equipment. Buyer could add distributors to increase sales outside of primarily the SouthEast region and expand to foreign markets which have been significant historically.