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"THOR" is a profitable contract manufacturer located in the Southeastern US seeking a full sale to support shareholder liquidity. The Company boasts a solid management team, strong cash flow and ample growth opportunities making this an ideal opportunity for strategic acquirers looking to expand their presence in the Southeast or experienced investors seeking an established platform.

The Company supplies OEMs w/ engineered metal components including complex fabrications, progressive die and deep drawn stampings, tool & die making and kitting/assembly. THOR partners with clients from part inception/design all the way through production, quality control and packaging. This turnkey approach results in customer loyalty, margin enhancement and opportunity for growth as additional services are offered over time. The Company is a trusted supplier to a diverse base of customers covering a variety of end markets including electric utilities, specialty vehicles, consumer goods, test & measurement devices, foodservice equipment, telecom, and related commercial markets.

THOR is fully staffed with experienced management including a plant manager, controller, QA, engineering, production, and EH&S. The Company employs approx. 50 FTEs with a healthy pool of skilled labor in the area. The non-union workforce enjoys competitive pay, benefits, and a company culture centered around safety and quality.

Top-line sales are steady in the $10M - $12M range with healthy gross margins of 40% - 45% on an annual basis. Growth is planned for 2021 as additional space is leased and new equipment is onboarded in Q4 2020. Targeted marketing efforts focus on higher margin opportunities and equipment utilization to ensure optimal returns. THOR does not seek to compete in a commodity market place where differentiation is solely based on price. The Company leases ±100,000 s.f. from an unrelated 3rd party with ample capacity to support growth. Current lease is in place through Dec. 2023 with market rates and terms.

The metalworking industry is highly fragmented w/ thousands of job shops sprinkled across the country. Fewer competitors reach the level of becoming a turnkey contract manufacturer of production components. Industry certifications, investment in equipment, technology and infrastructure limit the number of players in a given geography. The Company enjoys healthy competition from local metal fabricators and oversees sources but continues to find success and ample growth opportunities in their niche.

The Seller prefers a cash sale w/ the option for roll-over equity participation under the appropriate circumstances. Seller financing and/or contingent payments are not preferred. Current ownership supports the operation remotely at a board level and is not active in the daily operations. Management is in place and available to support both an integration and long-term growth post-sale. Ownership is available for a short-term transition, as needed.

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