This business markets and distributes electrical supplies and related fixtures from multiple wholesale and retail locations in the lower peninsula of Michigan. The Company’s primary goal is to operate for the benefit of all stakeholders including customers, vendors, employees, and stockholders. This is achieved by striving to offer the highest quality products and services at prices that provide the most possible value.
Over its long history, the Company has prospered via its commitment to being reliable, honest and fair-priced, and by offering a comprehensive (one-stop) catalog of products.
The majority owners of the company, now in their 70’s, would like to divest the business and retire.
Facilities: The Company maintains multiple facilities consisting of office, retail and warehouse space.
Support/Training: Ownership is willing to provide reasonable and customary transition assistance. The long-term CEO is open to remaining with the business for up to three years post-sale.
Reasons for Selling: Retirement.
Financial Strength: The Company has performed profitably providing consistent cash flow for reinvestment into the Business.
Committed Upper Management: This Company has a dedicated and experienced staff which is key in forming a wide net of customer/supplier relationships along with building a recognized brand name.
Strong Relationships and Longevity: The Company has developed a strong network of trade contractors, which makes up a majority of the wholesale customer base.
Future Growth: The Company is poised for growth through geographic expansion into nearby territories and potential inorganic growth via acquisitions of smaller/underperforming competitors.
Consistent, Diversified Revenue: The Company’s top 10 customers make up only a quarter of their total revenue. Blanket purchase orders are in place with many customers driving recurring revenue.
Online Marketing: The Company has recently started to use its website and the internet for producing sales leads. Online marketing is seen as a path toward the establishment of future long-term advertising strategies. By better understanding the source of online leads and by beginning to study and measure Google Analytics and other conversion metrics, the Company should ideally begin to better understand how to target and convert customers that come from the web. The Company has engaged a marketing firm to assist them in this endeavor.
Increased Sales Force: Adding outside salespeople may help increase sales. With more sales personnel, the Company has the ability to reach out to a larger network of contractors.
Excess Capacity: Revenue could be doubled or more with the Company’s current facilities.
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