Ohio Engineering Firm - Proprietary Product
Ohio Engineering Firm
A well established and well recognized professional engineering firm that offers engineering services, custom machine design and build, plus, has recently developed a proprietary product, an electrostatic oiler. Almost all coil processing companies in the metal industry require an electrostatic oiler to accurately oil a moving sheet – mainly to prevent rust.
This engineering firm strongly believes it has developed the best electrostatic oiler currently on the market. It has sold 10 to date with the basic model priced at roughly $300,000 and upgraded models sold for more along with service contracts. It is attracting more interest domestically and internationally, but it recognizes it does not know how to properly take a product to market. It believes a party connected to the steel industry should be able to seize this opportunity since there is minimal competition that is all inferior.
Recent Annual Revenue of about $1.5M and Adjusted EBITDA/SDE of about $200,000 with recent focus and expenditures directed toward development of the proprietary product – electrostatic oiler.
Reason For Selling
Ownership recognizes it is not best suited to capitalize on the electrostatic oiler opportunity.
Support For Buyer
Staff will be willing to transition to a buyer plus active managing partner is willing to stay on board for an agreed period upon agreed terms at buyer’s request.
Real Estate: $495,000