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!