Profitable manufacturing company located in the suburbs of the Twin Cities. This company was established by the current owner in 1986. The company provides complete turn-key solution which involves design services, component procurement service, component manufacturing, final assembly, X-Ray / AOI service, machining of precision parts, functional / parametric testing and customized packaging. The company enjoys a good reputation, solid clients, very qualified employees and the electronics industry it serves is booming including semiconductor, medical, consumer, and defense. The daily responsibilities of the owner are: oversees accounting and HR department and will get involved with some engineering decisions from time to time.
20,000 sq. ft. free standing building built in 1996. The HVAC was replaced in 2011 with a 20 kilowatt solar panel installed on the roof. The seller feels that this facility could approximately double in sales by using all of the square footage available, and possibly running a second shift.
The business has a staff of approximately 40 employees with long term key employees in place.
Revenue in 2015 was $7.15M, 2014 was $7.7M, 2013 was $7.1M and 2012 was $6.2M.
Cash Flow in 2015 was approximately $900,000 +
The asking price for the business is $5.7M. Included in the price are the furniture, fixtures and equipment value of approximately $1,100,000 and inventory, which is valued at $900,000 (at cost). The asking price for the building is $1.9M.
Approximately $500,000 is needed for working capital.
Bank financing in place with qualified Buyer.
Buyer will be required to have $1.2M cash at closing.
REASON FOR SALE:
Retire. The seller will provide the necessary training to insure a smooth transition.