This company provides precision cutting services to a wide variety of manufacturing customers. They service a diverse cross-section of the West Michigan industrial economy. The company has built its business around a core focus on customer service. Speed and commitment to deadlines is a fundamental component of the company’s customer service.
Key Strengths & Opportunities:
Strong Profit Margins. Adjusted EBITDA margins have remained above 29% seven of the last eight years.
Long-Term Customer Relationships. The company has built long-term relationships with their customers’ key decision-makers based on a foundation of years of demonstrated performance. Relationships are not dependent on any single key individual.
Diversified Customer Base. The company has over 250 customers in a variety of industries. The top 10 customers are a mix of automotive, office furniture, fitness, and food industries which represent approximately 63% of total sales.
Favorable Pricing Dynamics. Customers make purchasing decisions based primarily on the company’s ability to meet their timing and quality requirements. While price is important, it is generally a secondary factor. Very few projects are competitively bid. Management is careful to preserve customer trust by maintaining consistent and reasonable prices.
Growth Without Marketing. The company has accomplished consistent growth without the aid of sales or marketing functions. Furthermore, historical investments in capacity expansion have directly translated into immediate growth, indicating that further demand exists for the Company’s services.
Strong Management Team Available to Facilitate Transition. The current ownership has decades of operating experience and is available to facilitate a transition for new owners.
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