SOLD! Industrial Controls and Manufacturing Business
Industrial Controls Design & Manufacturing business #1037, serving the southeast Wisconsin area and been in business for 11 years, was recently sold for $643,000. The company generates an annual revenue of approximately $1 million and is growing by engineering and developing over 100 industrial control products for a variety of industries such as food processing, chemical, power, and others for industrial and commercial customers.
The acquirer, was attracted by the anticipated growth of this industry for industrial controls used for process manufacturing and the need for automation, the customized engineering of niche products, and the excellent customers which results in recurring revenues for the company. Larry Heck, who brokered the transaction, says “This acquisition was a good fit for both parties.”
Recently Sold- Hydraulic Tooling Distribution Company
Joe Braier successfully sold a hydraulic tooling distribution company that was located in Southeastern, WI. The business was approx. 20 years old and the seller was looking to retire after starting it from scratch. The business had many intangible assets, such as established relationships with vendors, key employees, a deep customer base, and consistent historic financial records showing profitability. The Lakes Business Group team pre-qualified 77 interested parties to find the perfect buyer for the seller. The transaction closed on time and the buyer is beginning to take advantage of all the growth opportunities discovered during the due diligence phase of the transaction.