BUSINESS: 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.
FACILITIES: 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.
EMPLOYEES: The business has a staff of approximately 40 employees with long term key employees in place.
REVENUE: Revenue in 2015 was $7.15M, 2014 was $7.7M, 2013 was $7.1M and 2012 was $6.2M.
EARNINGS: Cash Flow in 2015 was approximately $900,000 +
ASKING PRICE: 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.
NOTES: 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.