Spray Paint Manufacturer In North Carolina For Sale

Business description

This company was founded by the current owners 20 years ago and they are ready to retire. The company utilizes equipment they own to take paint from gallon containers and convert it to hand held spray paint cans of various sizes. The process is rather simple and there is limited competition. OEM's are primary users and there are no customer concentraction issues. The business is a "C" Corporation which also owns the real estate. A sale of the business and real estate is prefered but the Seller will entertain leasing it. The facility is almost a specialty built structure as it has fans, ventilations systems and fire proof doors that were built for the purpose of making paints. The building consists of 7,500 SF and there is no formal current appraisal on the real estate but the Seller believes it to have a value of close to $500k (subject to a third party appraisal). Sales are down in the first half of 2009, but a large new account has been added in the 4th quarter. The sales trend has been $809k in 2008, $844k in 2007, $937k in 2006, $807k in 2005 and $749k in 2004. Cash flow has ranged from $152k to $185k during this time. Seller financing will be considered on a buyer for buyer basis.

Property information

Location:

This business is within a reasonable drive of a major metro area in the Carolinas

Size in square feet:

7,500 SF

Other information

Reasons for selling:

Retirement

Financing available:

Seller financing available on a buyer for buyer basis

Furniture / Fixtures value:

$69,000 (included in the asking price)