Business Description
For sale is a 61-year-old precision manufacturer located in the Northeastern United States. The company works with its customers to produce prototypes and large-order, highly accurate parts for its loyal and diverse customer base, including defense, aerospace, and automotive companies. The average annual revenue per customer is around $23,000.
In 2022, the business experienced an increase in sales by proactively providing material to clients that competitors didn’t offer. In 2023, the price of steel dropped and sales in the broader steel industry declined significantly, causing some suppliers to report a decrease in sales of 30%. As a current comparison, the surcharge for 303 stainless steel was $1.55/lb in January 2023. The surcharge for January 2024 is $0.91, for a difference of $0.64/lb.
Staying with the buyer are 6 key employees among the 16 employees total. The current owner has grown the company from a locally-focused manufacturer to a nationally competitive business, with multiple large out-of-state customers. The most important skill a new owner could bring to the company is strategic marketing focused on continued growth. No licenses or degrees are required of the buyer.
| 2021 | 2022 | 2023 | |
| Revenue | $3,201,242 | $3,878,392 | $3,353,912 |
| Earnings | $389,240 | $514,372 | $478,612 |
*Revenue and Earnings are based on an average of 2022 and 2023