Asking Price: $995,000 (Equipment Appraisal: $1,517,000!)
COVID has exhausted the owners of this well-established manufacturing business in the Chicago metro area. They are close to pulling the plug, however, in a bid to sustain their legacy and keep the jobs of the employees, they are willing to sell the business at basement bottom price, $500,000+ less than the appraised value of the equipment. The buyer must act quickly as ownership has determined that they are going to be done one way or another in 2022.
The Company is a mold and die manufacturing business that produces specialty plastic injection molds and die cast dies utilized in a wide variety of industries. The Company employs a skilled and loyal workforce that has an average tenure of 15+ years. The employees can work with limited oversight from the owners and have the skills to find complex solutions for a variety of customer needs.
Due to the Company’s engineering process, detailed project management, equipment base, and a mold capacity of 20,000 lbs., the Company completes most of its work in-house. This allows the Company to provide the highest levels of customer satisfaction with complete control over the design, timeline, and budget on every project. The Company is committed to keeping customers productive through a comprehensive warranty and repair service for all tools manufactured by the Company.
The Company was founded in the 1970s by the current owners (2 owners). The Company boasts a workforce of 19 highly motivated, tight knit, and long-tenured (average 15 years) employees. All current employees except the owners are expected to stay on for the foreseeable future. The owners desire to transition into retirement. They are willing to stay on up to six months to assist in the training of and transition into new management.
The Company operates out of a single facility. The facility is 31,645 square feet, with a clear span of 26 feet. The facility is equipped with two 10-ton and two 5-ton cranes and features two exterior loading docks. The facility is in excellent condition and was built in 1996.
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