Jun 12, 2020 — This profitable and growing Company is a production and custom cabinet manufacturer serving Michigan and expanding across the country. The Company builds cabinetry to the project or owner’s specification with a significant focus on multi-family projects. Founded eight years ago, the Company manufacturers under three brands. The Company obtains work and projects through general contractors, apartment owners and developers, kitchen dealers, and residential owners. The Company maintains a go-to group of dealers that order based on catalog or specification, and the Company bids (with the help of developed general contractor and apartment owner relationships) on larger projects. The Company offers a unique lineup of colors and styles that can fulfill orders from a residential customer for a single cabinet or 6,000 cabinets for a substantial apartment owner.
The Company started marketing its products under one brand; however, the Company aimed to differentiate itself in the marketplace by appealing to multiple end markets. The three brands that the Company offers attract a different target customer by providing unique cabinet products. The Company manufactures products that are geared toward simpler and larger projects, one-off projects, and highly
customized projects for the commercial, apartment, and residential markets. These brands are still developing and growing, allowing a new owner to benefit from this brand platform with a broad customer outreach/footprint and diversified target customers. All brands offer a similar product that is marketed and sold in three different ways.
The Company is owned by two owners (95%/5%). The majority owner is looking to sell his portion of the Company. He is a visionary for the Company and is involved with new lines and ventures, finance, and high-level sales. He considers himself a semi-passive owner, allowing his team to do their jobs. He works four to twelve hours per week and does not have an office in the Company’s facility. The Company’s minority owner is the operations manager and runs the Company on a day-to-day basis with the support of the majority owner. The majority owner is willing to provide reasonable transition assistance to allow the new owner ample time to transition into the Business. The majority owner is confident that the Company’s management team can run the Company.
Buyers will be required to have a minimum of $200,000, solid credit, and preferably industry experience to qualify for SBA 7a financing.
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