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For Sale: Process Controller Manufacturer - 2 Contract MFGs - Hartford

NDA   |  

Current Status: Active     Posting #: 267283     Last Refreshed: 4/17/21    
Contact: Rick Carlson At 833-776-6682  -  Also Email This Contact Below
Asking Price:  Call / Email     Down Payment:  Call / Email     Annual SDC:  $375,000     Annual Gross:  $1,700,000    
Business Address:  None Given     City:  Hartford     Zip:  06114    
Attributes:  Broker-Broker Coop, Financial Assistance, Training & Support
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!

To get more information about this Process Controller Manufacturer - 2 Contract MFGs business for sale in Hartford please phone Rick Carlson (Agent - BRE License #:01820673) at 833-776-6682 - if you get voicemail please leave a detailed message - make sure you mention you saw this posting/ad #267283 on BizBen.com. In addition to phoning Rick Carlson, make sure you email Rick Carlson above to get more info about this Process Controller Manufacturer - 2 Contract MFGs, to ask any questions or request an appointment to see this business for sale. Thank you.


Email Rick Carlson Below About This Posting




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For Best Results & Response, Email & Phone This Contact: Rick Carlson at 833-776-6682.
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