Manufacturing Business SOLD!
A successful metal manufacturing business was successfully transferred to a new owner on August 1. The original owner started this business in 1993 and was ready to retire. The business was bought by a private investor.
The company operates over 15 CNC machines, a number of lathes and grinding machines with over 20 experienced employees. The needed flexibility to deliver large production lots as well as smaller quantities on a timely basis for its OEM (original equipment manufacturer) customers helped the profitability of this business.
Operating in a 13,500 square foot building owned by the original seller. This real estate was not part of the acquisition.
There was much interest in this business as over 120 individuals inquired on this listing. The interested parties were private equity groups as well as private investors.
Congratulations goes to all the parties involved in this successful business transaction!
#1 Business Sales for 2018
The annual International VR Conference was held the end of April. Three of our team members were able to attend and receive their individual awards and the #1 VR Office Award.
For the fifth year in a row, the Lakes Business Group VR Office was number 1 in sales. We have maintained our ranking with the leadership we have and the team that has been assembled over the years.
Showing how special the team of people we have in the Lakes Business Group office, six of our team members were in the top ten sales representatives for 2018. They are:
Below are three of our sales reps receiving their awards. From left to right: Joe Braier, Andy Schmelzer and Mark Smith.
Successful Business Deal Closings
2019 has been a busy year so far with businesses changing hands. Our office had 6 closings in the past few weeks and we have three more set to close in the next couple weeks.
These are the business transactions that have recently closed:
#1426 – Bar/Restaurant/Banquet Facility $1,300,000
#1309 – RV Dealership $1,000,000
#1255 – Commercial Printing Business $615,000
#1343 – Supplier of Marine Accessories $400,000
#1337 – Electrical Contractor $395,000
#1383 – Boat Rental Business $360,000
These business deals have been in various industries.
With interest rates still reasonable this is a good time to sell or buy a business. Our award winning team is ready to assist with an exit strategy.
Transitioning after Selling your Business
Regardless of the reason, when a business owner decides to exit the business, the process can be an emotional time. Part of the transition is communicating with your employees and the emotions and stress that they may feel during the transition period. Also, you and the new owner assessing how to tell the customers, suppliers and any other key people associated with the business.
From feelings of relief and excitement to disturbed, anger and concern about the future of the business as well as your future without the business as part of your life. It is okay to take the time to mourn this loss. You now have the time to slow down and consider the next step.
The article in Inc.com tells of an owner who sold her company to pursue a dream of living abroad which gave her new perspectives.
“When I sold my company to Caliber Corporate Advisors, I spent two months pursuing my dream of raising my children overseas by living in Nicaragua and Costa Rica,” says Joy Schoffler, Founder of a FinTech focused PR firm, Leverage PR. “It was really amazing getting the time to read, paddle board, and just be.”
“Now that I am home and back in the swing of things, I am looking at everything in a new light. In addition to continuing to serve as a senior advisor at Leverage PR and on AARP’s and SXSW’s Accelerator advisory boards, I have gotten a chance to serve as an advisor to companies I’ve had a passion for over the years: Wealth Migrate and The Experience Firm. Having the time and energy to dedicate to companies I believe in is a really cool part of this phase,” adds Schoffler.
Need for an Exit Strategy
Of course there is always a percentage of business owners who regret their decision after it is sold. If you are contemplating and exit strategy in the next 5 or so years, begin your plan now rather than waiting. Planning now reduces the risk of regretting the sale. If you need help in a future exit plan, reach out to our team of business advisors who can help with information that can help.
Reputable Recycling Center Business Sold
The seller was looking to retire and has kept the business well organized with a strong team in place.
Congratulations to the new buyer of this profitable turn-key business and to the seller as he looks to enjoy his retirement!
Acquisition of Manufacturing Company
This plastic molder manufacturer has been in business for over 40 years producing an array of products for businesses and consumers. with contracts in place for the larger accounts and a great customer distribution, this business was very well diversified and stable. There is plenty of additional room for growth in each of the two divisions. Growing by adding new customers or products or by way of marketing and selling directly to end users.
Included in the sale of the business was over nine acres of land with facilities totaling over 74,000 square feet.
Congratulations to the new owner and to all involved in the sale!
Northern Illinois Wholesale Food Distributor Successful Transaction
This company has a niche in providing a wide variety of ingredients throughout the bakery industry.
This wholesale food distributor was on the market for 5 months and had over 90 inquiries. So congratulations to our sales rep, Joe Braier and to the new owner. Also, best of luck to the seller in his retirement!
Successful Transfer of Business
This business opportunity was sold within six months of being signed with our office. In those six months, there have been over 50 inquiries. This business sale included the property.
Successful Business Transaction of Greenhouse in Wisconsin
The Lakes Business Group sales rep was able to find the right buyer for this business and close the deal last week. Congratulations to all the parties involved!
Successful Business Transaction
The acquisition took place last week with Dan Williamson as the intermediary from the Lakes Business Group team. Best wishes to the seller as he starts his retirement. And congratulations to the new owner of this Wisconsin Septic Service business!