Listing Number: 13485-117773
Description
This family-owned, award-winning, agricultural equipment sales and service business was established in the 1950s. Over the decades the company has grown into a large, successful farm equipment and grain handling products business and now serves customers across North and South Carolina and other Southeast US locations.
Its primary business is comprised of the wholesaling and distribution of short-line farm equipment (50%) and grain storage, handling, and conditioning products (50%). Overall, approximately 90% of income is produced from wholesale and retail equipment sales with the remainder coming from equipment services and warranty work.
The business sale includes five acres of land and a 140,000 sq ft metal framed warehouse building which allows the company to keep a large amount of inventory in a protected environment. Additionally, in 2015 an office space and an inventory area of 2,537 sq ft (1,960 sq ft heated/cooled) were added to the warehouse space.
This debt-free agricultural business has a 70+ year brand name and is well-established in the local and regional markets with a knowledgeable and skilled workforce. All key employees have worked at the company for over ten years and are capably educated and passionate about farming and the agricultural industry. This very experienced sales and operations team will remain with the business following the sale. In addition, the retiring owners are willing to stay on as contract employees for up to six months following the sale to help facilitate a smooth operational transition and educate the new buyer on the business and local marketplace.
While there are competitors, the business is well-known regionally, enjoys a strong reputation, and is effective at successfully competing against both local and national companies. It is advantageously located in the Southeast US, as opposed to the crowded Midwest marketplace, and over the years it has expanded its market share with both growing family farmers as well as expanding commercial farm operations.
Historically, the company has focused on equipment sales primarily in its local and regional markets. Opportunities for growth are numerous with the right buyer who has the appetite to expand the existing business into other geographic areas, add additional product lines, and increase the maintenance and services offered. In addition, associated activities such as design, erection, and installation could be added. Currently, the company has a limited website presence and a focus on improving marketing strategies and upgrading operations could increase opportunities and improve business efficiencies.
Listing Details
- Price: $4,300,000
- Down Payment: $600,000
- Sellers Discretionary Earnings: $686,182
- Total Sales: $7,382,652
- Location: North Carolina
- Inventory: $750,000
- FF&E: $600,000
- Employees: 8
- Year Established: 1951
- Reason for Selling: Retirement
- Category: Agricultural
