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Details - Information last confirmed on January 13, 2021
This company is one of the oldest and most experienced manufacturers of cast polymer bathroom sinks, vanity tops, tub decks, and shower bases and enclosures. Its proprietary formulations are synonymous with high quality, durability, unique finishes, and selective colors. The company manufactures to order, offering custom designs, dimensions, colors and finishes to discriminating residential designers and customers. Its 30,000-sf office and production facility is located in the Mid-Atlantic region with convenient access to transportation to major markets.
The company sells its high-end products through selected distributors, kitchen and bath dealers, and contractors that have design and showroom capabilities. It does not currently sell through the big box retailers. Its sales and distribution network of 300 distributors and dealers covers New England and the Mid-Atlantic regions.
After a sharp drop in the housing crash of the 2008 financial crisis, sales have been slowly, but surely recovering along with the housing industry, growing 10% per year over the past four years and reaching $2.8M in 2019. Normalized EBITDA in 2019 was $326,000 and, despite the COVID-19 impact, the Company has been profitable year-to-date.
The owners are seeking to sell the business, and optionally the real estate, to a buyer who can build on the Company’s legacy and accelerate growth through marketing, geographical expansion and new products.
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