Details - Information last confirmed on February 1, 2021
The Company is a manufacturing company that designs and builds special machinery and industrial automation for a broad range of industries. The Company offers mechanical designs, controls design, programming, fabrication, machining, assembly, electrical, pneumatics, and hydraulics all in one facility. With over 75+ years in operation, the Company is committed to complete project management and multiple customer touchpoints so that the job is to customer specifications.
The Company offers a diverse range of services from small fixtures and tooling to medium-sized stand-alone custom machines up to large automated systems integrated with robots, presses, ovens, and transfer lines.
The Company’s proficiency in designing and building machinery for a diverse variety of industries has set the Company apart in the Special Machinery Manufacturing industry. The Company’s top industry served varies from year to year, based on the overall economy and what industries are experiencing higher demand than others at a given time. The Company’s versatility has allowed them to remain resilient and profitable even in times of economic turmoil.
Four owners hold equity in the Company. Owner 1 and Owner 2 will be retiring, and Owner 3 seeks to stay on with the Company for 5+ years. Owner 4 is not a part of the Company’s operations.
Owner 1 is the Company’s President. Owner 1 originally worked for a separate entity and was tasked with overtaking the Company. He has been a part of the Company since 1968 when the separate entity acquired the Company. He took full control over the Company’s operations in 1971. In 1985, the present Ownership bought the Company. Owner 1 spends much of his time at his condo in Florida and is looking forward to full retirement after a rewarding career with the Company. Owner 1 describes himself as an advisor to the Company. He is semi-passive in his ownership but is the majority owner of the Company.
Owner 2 is the Controller of the Company. She handles the accounting and financial functions. Her responsibilities within the Company would need to be replaced by the new owner(s). She is looking to be fully transitioned out of the Company so that she too can begin a well-earned retirement. Owner 2 is willing to assist new ownership for a reasonable transition period.
Owner 3 is the Company’s Vice President of Operations. He handles quoting/estimating and customer interaction. He is looking to stay on with the Company for the next 5+ years. He is crucial to the Company’s operations and will be an excellent resource in both aiding new ownership in the transition period and spearheading the Company’s operations moving forward.
Owner 4 is a minority, non-active owner. He has no involvement in the Company and is not a part of the Company’s operations whatsoever. His equity would be phased out by new ownership.
The Company operates out of the original building. The facility has undergone upgrades and renovations over the years. The building is approximately 38,000 square feet, with dock doors and a front office space. The Company’s equipment base includes boring mills, milling machines, grinding machines, lathes, CNC capabilities, and fabricating equipment.
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