It has been a great 17 year run, but illness necessitates that the founder/owner of this successful West Michigan wholesale distributor of industrial electronic components sell his business.
With nine full time employees, including two who have been with the company since the first day, the business operates out of an attractive and conveniently located 16,000 square foot facility built expressly for this business eight years ago. Value added light assembly is done on premises utilizing 2-3 employees. The company has an 18 month old fully integrated software system that has its own server and eight users.
This distributor of switches, connectors, wires, lamps, resistors, fuses, circuit breakers, cables, etc. represents 30 respected manufacturers in an area encompassing US-127 west to Lake Michigan, and from the Indiana state line north to Traverse City. No single manufacturer accounts for more than 20% of revenues. Similarly, there is no customer concentration with the largest customer accounting for less than 10% of revenues. While margins on various lines and products range from 20% to 40%, the overall margin is very attractive, exceeding 30%.
Revenues of this wholesale distributor are running at $1.7 million, down from the $2.3 million recorded the past several years. The cash flow (EBITDA + seller’s salary) has a three year weighted average of $100,000. The business is attractively priced at $795,000. That price includes $600,000 of inventory and an estimated value in place of $100,000 of furniture, fixtures, and assembly equipment. Meaningful seller paper is available for an enthusiastic, qualified, but undercapitalized buyer. In addition, the real estate is available separately for $820,000 under favorable terms.
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