Listing ID : 426628
Posted on January 9, 2024 4
This unique opportunity includes the 50-year-old brand trademarks, custom molds, and client lists.
The net income / cash flow number provided in the teaser is calculated on year ending 2021 and adjusted for Non-GAAP accounting practices.
The Company is currently managed by the owner who sells and services carpet cleaning units for various clients across the United States. The majority of clients are 3rd party home centers that provide the carpet cleaning units for rent.
The units themselves are unique in that they do not require the end user to load piping hot water into the units. Instead, the carpet cleaning units come with a ceramic heating element that can heat the water to 165 F. First developed in 1971, the Company has seen a number of owners and transitions – according to one owner’s manual the company has sold over 500,000 units. The size of the organization has shrunk significantly, but still finds customers that value their product over the competition.
This opportunity also comes with (to the owner’s knowledge) the only known molds to stamp new plastic pieces to repair custom parts for the machines, which not readily available online.
The owner maintains a working office in Maine at their personal residence, the other locations, including the 1,200 sq ft warehouse could be assumed by the new owner.
This opportunity includes the cashflows, working capital, inventory, and tools and equipment. The owner would like to retire and is committed to helping the business transition to a new set of hands. NDA required to receive comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.
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