National manufacturer of branded truck bodies and hoists used in the construction, utility, agriculture, landscaping and other industries. Founded in 1963, the company manufactures pre-engineered and customized truck bodies and hoists sold through a network of over 240 truck equipment dealers in the US and Canada. The company has a nationally known brand with an excellent reputation for quality and durability which can be extended to other complimentary products.
FY2016 year-end revenue was $6.5 million, down from $6.9 million in FY2015. 2016 year-end adjusted EBITDA was $304,000 (including owner salaries of $180,000), up from a 2015 loss on an EBITDA basis of -$70,000. The company’s 104,000 sq. ft. HQ and manufacturing facility is strategically located near North/South and East/West interstate highways to serve the US and Central Canada. 55 non-union administration and production employees. The owners would like to retire following an orderly transition of at least one year. Managers and other key employees are in place to support continued operation.
The business and real estate are priced at $700,000 plus net working capital of $1,900,000 on a debt-free basis, which reflects a $1,000,000 discount for a stock transaction. The assets include net working capital (excluding cash), real estate assessed at $1,100,000, fixed assets, tools, proprietary tooling, designs, brands, customer relationships, dealer network and goodwill. Please contact representative for a one-page overview and Confidentiality Agreement to receive a Marketing Memorandum.