The company is a distressed automotive finisher. The owners purchased and rebuilt a Therma-Tron X system in 2009. Business was consistent and growing at $250-300K/year, but then the owners ran out of working capital and were forced to shut the doors.
The bank has mandated that the owners sell the equipment in order to pay back a loan.
The owners owe a significant amount of money to the bank and cash has run dry. The time to act is now. Asking price is $300,000 however the owners will consider all offers on this cutting edge finishing system.
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