Annual Revenue: $700,560
Net Cash Flow: $299,446
Location: New Haven County, Connecticut
This business has been sold. First time offered for sale – after over 20 years of business, the seller is ready to retire. This company is family-owned and a very profitable niche specialty manufacturer for High Precision, Close Tolerance Parts – Aluminum and Steel Based. The company specializes in CNC milling and turning and operates under ISO 9000 standards. The owner has chosen not to formally seek ISO certification.
The Facility operates out of a rented space of 6,000 sqft. This operation can continue to operate out of existing space with capacity to take on more work. A new owner that is in the business could relocate the business and achieve an annual rental cost savings of about $45,000 per annum. A new owner would acquire access to the A List clients that have significantly more work for them. Current owner chooses not to pursue this work and is managing the business from a lifestyle perspective.
Reason For Sale:
Seller Retirement – age – no family members to take over the business.
Training & Support:
Owner will remain for a 30-Day period included in the sale. Additional extended period of time to ensure smooth transition is negotiable at a reasonable rate.
Current lease expires 10/2020; Can be extended or company can be relocated. Staff consist of office staff, skilled machinists and owner – Totaling 6.
Financing: Available – SBA eligible – based on credit history 10-year term
Seller Financing: TBD – 10% for qualified individual – SBA Eligible