This opportunity is a long-standing heavy plate steel fabrication Company offering all in-house operations, including machining and paint. The Company deals daily with fabrications from 10 to 100,000 pounds. With over 40+ years in the industry, the Company maintains all types of equipment needed for fabrication, including cranes, burning tables, plate rolls, manipulators, weld positioners, and press brakes.
Founded in 1987, the Company was purchased and re-branded in 1999 by the current owner/operator.
The Company operates under three main capabilities—fabrication, machining, and plate rolling. It takes great pride in delivering top-quality workmanship in carbon and alloy steels, stainless steel, and aluminum.
The Company occupies a 65,000 square foot manufacturing facility in East-Central Michigan. It was built in 1985 and has been maintained and kept in excellent condition. The facility includes 5,000 square feet of office space, 60,000 square feet of manufacturing space, 1 dock, 6 overhead doors, and 15 bridge cranes. The Owner is flexible to sell or lease the facility to the new owner(s) with the sale of the Business.
After 21+ years as a hands-on owner/operator, the Owner is seeking to retire. He is willing to provide reasonable and customary transition assistance for up to two years to help the new owner(s) transition successfully into the Company.
2020 Inventory: $408,737
Real Estate: The real estate is owned and for sale or lease with the sale of the Business.
Total Building Size: 65,000 square feet
Seller Financing Available: Yes
Seller Note: Limited Seller-Financing Available for Qualified Buyers
Number of Employees: 24 (1 salary/23 hourly)
Year Established: 1987
Facilities: The Company operates out of a 65,000 square foot facility that includes 5,000 square feet of office space, 60,000 square feet of manufacturing space, 1 dock, 6 overhead doors, and 15 bridge cranes. The Owner of the Company is flexible to sell or lease the building with the sale of the Business.
Support/Training: The Owner is willing to provide reasonable and customary transition assistance for up to 2 years.
Reasons for Selling: The Owner is excited to enjoy retirement with his family.
(1) Long-Standing Reputation: The Owner has spent the last 21+ years honing in on the Company’s mission: to provide precise solutions that are always delivered on time. The Company accomplishes this by taking customers’ ideas and completing all the work in-house, from fabrication to final paint. With complete control over the quality and timeline of every project, customers can feel confident in the Company’s ability to deliver exactly what they asked for. This has earned the Company a reputation that attracts new customers, even without a defined marketing strategy.
(2) Experienced Team with Low Turnover: The Company’s employees not only have immense experience but positive morale because they genuinely enjoy their jobs. The Owner has built a stress-free work environment by trusting the employees’ abilities to produce quality products with a high-level of autonomy.
(3) No Project Too Big: The Company’s 60,000 square foot manufacturing facility is equipped with 15 bridge cranes, 6 overhead doors, 1 loading dock, and equipment that can handle any job up to 100,000 pounds. These assets allow the Company to take on projects that not many other machine and fabrication shops can handle.
(1) Implement a Marketing Strategy: The Company’s reputable brand attracts customers from word of mouth and referrals, but besides that, the Company has no marketing strategy. The Company has no employees in charge of marketing and does not have a marketing budget. While the Company’s website is up to date, it lacks the exposure to generate meaningful leads. The new owner(s) could deploy an investment in marketing to improve Search Engine Optimization and naturally drive brand awareness.
(2) Earn Certifications to Increase Competitive Advantages: The new owner(s) could pursue certifications from ASME (American Society of Mechanical Engineers) and ISO (International Organization for Standardization) to expand the Company’s advantages over competitors. ASME certification is the clearest way to tell customers, supply chains, industries, and regulators that a company is committed to public safety and quality. Similarly, ISO offers certifications and accreditations in various areas concerning quality, safety, and environmental standards. These certifications could further the credibility of the Company.
(3) Employ a Sales Team: The Company has not yet had a salesforce or hired an outside sales specialist. By implementing a sales team, the new owner(s) could increase customer support and capitalize on additional sales opportunities.
(4) Maximize Plant Utilization: Operating at only 40% plant and equipment capacity in 2020, the Company could increase its scale of projects without incurring additional fixed costs. If the new owner(s) chose to take advantage of the aforementioned growth opportunities, they would have no issue increasing the production to meet the added demand.
The BEST way to receive confidential information about this opportunity is to fill out the form below.
Upon doing so you will receive a link via email to review and sign our confidentiality agreement. Once signed we will be able to further the conversation and send you the confidential Offering Documents. Please contact [email protected] with any questions. Interested parties must demonstrate proof of financial capability, sign a Non-Disclosure Agreement, and answer a few questions related to their background and interests. Enquire today about this Heavy Plate Steel Fabrication and Machining Company for sale!
*Special Note: In a victory for small business buyers, the recent $900BB stimulus bill directs the SBA to waive all guaranty fees and pay up to the first 3 months of new SBA 7(a) loans approved between February 1 and September 30, 2021 (up to $9,000/month). Our advice: Don’t wait. Find a quality business and get moving quickly. Banks will be busy this year and buyers that wait until July/August will likely lose out.