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Hartford, Hartford County, Connecticut
Process Controller Manufacturer - 2 Contract MFGs
Asking Price
Call/Email
Revenue
$70,000
Down
Call / Email
Cash Flow
$375,000
Description
The business manufactures and maintains process controllers servicing the water/wastewater, industrial, and institutional markets. Products are used in nuclear power plants, universities, hospitals, steel mills, paper mills etc. Two contract manufacturers make the products. One makes the products, assembles and drop ships them directly to customers. The other ships parts for final assembly at the Company's HQ. The business model has reduced overhead and the need for larger facilities.
The Company has been through several incarnations since the late 1800's and into the1900s when early models of process controllers were invented. This legacy of innovation was nearly lost when the 2004 buyers, a private equity group, failed to implement adequate management and oversight of operations. When purchased and a new LLC established in 2019, the operation was distressed; innovation stalled and engineering on hold.
The current owner, an industry-insider, knew what needed to be done, reduced manpower redundancy, but saved jobs and inspired innovation once again. The value-add potential seen in restructuring; reducing overhead, implementing operational efficiencies and improvements resulted in increased bottom-line profitability and the business' gross margin.
Detailed Information
Facilities: The 7,500 square foot industrial/office space rents for $4,700 per month. The lease extends through May 2024. About half of the space is open warehouse with offices around the perimeter.
Competition: Three large multinational corporations are the most predominate competitors in the market that cannot compete with on price thanks to the greater flexibility in pricing. This flexibility also means the ability to offer more customization options to the customer. Other than lower price points, the Company offers great support & application-based solutions. Excellent support, outstanding products and digital marketing, have helped grow market share in since 2019.
Growth & Expansion: The Company is on track for gaining market share in a variety of categories of controllers, and with the pending release of the new a next-generation controller more opportunities will open.
Additionally, the Company was been awarded a contract for an international nuclear project.
In the future, greater overhauls in various industries will be needed to accommodate greater automations. Many new opportunities that will originate with engineering department. The team will create drawings, and design controller configuration.
Domestic and international oil and gas industry applications are still strong; natural gas pipelines require compression, measuring and refinery stations. There will be more opportunity in renewable energy, as the industry becomes more streamlined.
To ensure long-range goals are reached, the Seller recommends the Buyer focus on making R&D investments, keep new product pipelines growing, and increase spending in the sales & marketing departments.
Financing: TBD if structure and terms are acceptable.
Support & Training: To ensure a smooth transition and ongoing success the Sellers will work with a buyer as needed for three months, and longer as a paid part-time consultant, as negotiated.
Reason for Selling: Seller enjoys restructuring companies, once stabilized, it's onto the next rescue project!
The Company has been through several incarnations since the late 1800's and into the1900s when early models of process controllers were invented. This legacy of innovation was nearly lost when the 2004 buyers, a private equity group, failed to implement adequate management and oversight of operations. When purchased and a new LLC established in 2019, the operation was distressed; innovation stalled and engineering on hold.
The current owner, an industry-insider, knew what needed to be done, reduced manpower redundancy, but saved jobs and inspired innovation once again. The value-add potential seen in restructuring; reducing overhead, implementing operational efficiencies and improvements resulted in increased bottom-line profitability and the business' gross margin.
Detailed Information
Facilities: The 7,500 square foot industrial/office space rents for $4,700 per month. The lease extends through May 2024. About half of the space is open warehouse with offices around the perimeter.
Competition: Three large multinational corporations are the most predominate competitors in the market that cannot compete with on price thanks to the greater flexibility in pricing. This flexibility also means the ability to offer more customization options to the customer. Other than lower price points, the Company offers great support & application-based solutions. Excellent support, outstanding products and digital marketing, have helped grow market share in since 2019.
Growth & Expansion: The Company is on track for gaining market share in a variety of categories of controllers, and with the pending release of the new a next-generation controller more opportunities will open.
Additionally, the Company was been awarded a contract for an international nuclear project.
In the future, greater overhauls in various industries will be needed to accommodate greater automations. Many new opportunities that will originate with engineering department. The team will create drawings, and design controller configuration.
Domestic and international oil and gas industry applications are still strong; natural gas pipelines require compression, measuring and refinery stations. There will be more opportunity in renewable energy, as the industry becomes more streamlined.
To ensure long-range goals are reached, the Seller recommends the Buyer focus on making R&D investments, keep new product pipelines growing, and increase spending in the sales & marketing departments.
Financing: TBD if structure and terms are acceptable.
Support & Training: To ensure a smooth transition and ongoing success the Sellers will work with a buyer as needed for three months, and longer as a paid part-time consultant, as negotiated.
Reason for Selling: Seller enjoys restructuring companies, once stabilized, it's onto the next rescue project!
To get more information about this Process Controller Manufacturer - 2 Contract MFGs business for sale in Hartford, Connecticut please contact Rick Carlson (Broker - BRE License #:01820673) at info@pronovapartners.com or 833-776-6682
Posting Information
Posting ID:
267283
Business Category:
Manufacturing & Industrial
Business Types:
Electronics Manufacturing
Instrument Manufacturing
Machine Shop
Machinery & Tools Manufacturing
Keywords:
manufacturer
harford
Attributes:
Broker Cooperation
Financial Assistance
Training And Support
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Posting Title
Process Controller Manufacturer - 2 Contract MFGs
Posting ID
#267283
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