FOR IMMEDIATE RELEASE
Transworld Business Advisors of Houston
800 Wilcrest Dr. Suite 214 Houston, TX 77042
www.tworldhouston.com
October 12th, 2021
Houston, TX – Congratulations to Senior Business Advisor, Steve Merritt, for successfully facilitating the sale of a high-performing, Houston-based, machine shop with over 50 years of family history. This local manufacturing business focuses on the production of cylinder heads, engine blocks, crankshafts, and more for primarily local businesses. Steve was able to quickly identify a strategic buyer to acquire this manufacturing business and the real estate the business occupies.
This Houston-based manufacturing facility first opened in the early 1970s and experienced significant success as the premier machine shop in the Houston market, known for its quality craftsmanship and core values. After nearly 50 years of ownership, with the last 25 being completely owner-operated, the business owner decided it was time to retire. He began considering his options.
Over the years the seller has been approached by numerous buyers seeking to purchase his real estate. His original plan was to sell the real estate and auction off the equipment and the other assets in the business. When first introduced to Transworld Business Advisors, Steve met with the seller and advised him that there was significant value in selling the business as an ongoing concern in addition to the real estate. Steve assured the seller that buyers existed for the purchase of the business and that it was worth much more than just the value of the equipment.
Steve was an exceptionally good fit for the facilitation of this transaction, with over 30 years of experience in finance and business development and over 15 years of business ownership. As a member of the Transworld Business Advisor team, he has access to more than 25,000 Houston buyers and over 200,000 national buyers, possesses established relationships with key professionals required to successfully sell a business, and works with an experienced Houston-based business marketing team. In addition, Transworld has sold several Houston area manufacturing businesses.
Like many business transactions, numerous obstacles were faced in getting this business to the closing table. Unexpected title concerns and probate court rulings were only some of the issues resolved with Steve’s assistance. Despite significant challenges, Steve managed to identify a strategic buyer, negotiate terms, complete due diligence, have legal issues resolved, and successfully close this business sale within 6 months. An incredible feat.
Steve said at the closing table “Both buyers and sellers are extremely excited about this business transition. The seller created a strong American made business and now the torch has been passed on to the new owners who intend to modernize and compete on an all-new level”.
Steve would also like to note that the Buyers of this business are looking to purchase more machine shops! If you are a business owner looking to sell your machine shop / small manufacturing business contact, Steve Merritt, by Phone: (713) 582-2353 or Email: [email protected].
With a track record of over 10,000 businesses sold over the past 40 years, Transworld is the nation’s leader in business sales. Transworld Business Advisors of Houston (www.tworldhouston.com) specializes in providing the vital services needed to facilitate successful business sales, assisting owners and buyers throughout every step of the business sales process.
