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Nov 8, 2019 — Headquartered in the Midwest, this company is a specialty manufacturer with over 60 years of experience engineering and building industry leading products. The company produces products that are sold to OEMs and industrial users.
Their products are in service all over the world, in construction, geo-drilling, foundation-drilling, marine, utility, and waste applications. They specialize in customized solutions and support customers with short lead, short run orders. From 2015 through 2018, the company grew 33% due in part to increased product lines.
Approximately 50% of revenue is from custom products and 50% from their product catalog. Management estimates 80% of their OEMs are repeat customers. No one customer consistently represents 10% or more of sales.
The company has excess capacity and is well-positioned for growth. The business responds to incoming sales leads generated by print and online advertising and word-of-mouth referrals. Opportunities exist through increased production, expanded product offerings, and reduced cost through economies of scale.
An experienced management team is in place to support new owners.