This company manufactures products most on two broad categories: Electro-mechanical switches and control consoles, panels and support control equipment. They have in-house fabrication capabilities including CNC Machining, Engineering and Design, Stamping, Drilling and Tapping, Molding, Wire Harnesses, Labeling/Marking, Wiring and Assembly. Historically, many of their products have gone into the railroad and transportation industries.
All work is done to ISO 9000 standards and can certify MIL Standards. Historically a typical years sales are in the $600,000 range plus or minus $200,000. Sales in 2018 were approximately $600,000 with seller discretionary earnings of $289,000. However, the Seller did write down his inventory last year to reduce his tax liability.
The owner is well into in his 70's and is ready to retire. He owns the real estate which has about 10,000 total SF (7,500 down and 2.500 up) and is on approx. 2.4 acres situated in a very nice industrial park.
There is no formal appraisal on the real estate but the owner believes it has a fair market value of approximately $750,000 as the final price can be subject to a third party appraisal.