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Commercial Custom Cabinet Manufacturing And Installation For Sale

Wake County, North Carolina, US
Asking Price:
$5,500,000 (USD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$7,814,028 (USD)
Cash Flow:
$1,094,911 (USD)

This business is a high quality design/build/installation cabinet manufacturing business focused almost exclusively on commercial projects. The business also designs/manufacturers/installs ancillary products that carry high margins.

The business was started in 1989 and incorporated in 1996. The business has grown and as a result been relocated several times. Currently, raw materials cost through COVID have remained stable with minor fluctuations, but delivery times have been adversely impacted to some degree due to shortage of delivery drivers. The reported gross revenue, net profit and EBITDA numbers have one quarter of adverse performance as a result of COVID.

Property Information

Real Estate:

Real Property Included

Location:

This business is currently located in a 21,500 foot facility owned by its current owner. The land and building are not being offered for sale. 5,000 square feet of office including a high-end product showroom flows into a 16,500 square foot manufacturing/fabrication shop. Phone system is leased and monthly expense will be assumed by buyer.

Size in square feet:
21,500

Business Operation

Expansion Potential:

New owner could expand regionally. Current owner does virtually no marketing of any type. Buyer could establish a residential division selling to new home builders and remodelers. Faster and/or more automated manufacturing equipment could be installed. Second shift and/or 7 day rotating work week could be established.

Competition / Market:

Competition exists in various forms from big box retailers to one man firms in a rented storage facility, but very few can provide the range of products and finishes at large scale with consistent quality and high margins. Wake County was just rated (July 2021) the second best city to live in America so the volume of available work due to population growth is significant. The company has reached scale large enough to compete with the largest national competitors while remaining flexible enough to compete with smaller businesses on smaller jobs.

Backlog (July 2021) currently averages ~$8 million pushing into 2022 which is growing on a weekly basis. Seller expects that this backlog will be considered when the purchase price multiple is being established.

Reasons for selling:

Owner has other interests.

Trading hours:

M-F 6-5

Employees:
35
Years established:
1989

Other Information

Support & training:

Seller will provide 80 hours of transition support at no additional cost. Additional transition support available if requested.

Financing available:

Seller will participate and facilitate data delivery to lenders, underwriters and/or SBA as needed.

Furniture / Fixtures value:
$1,137,000 (USD) - included in the asking price
Inventory / Stock value:
$1,181,284 (USD) - included in the asking price

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