Price:$14,000,000
Revenue$11,136,000
Cashflow$2,205,000
The Company was founded over 20 years ago and manufactures custom-made, all-glass frameless shower doors and enclosures. It is the only branded manufacturer that sells directly to end users primarily in the United States. From 2014-2021, Net Sales grew at a compounded annual rate of 7.4%.
In 2022, the Company generated approximately $11.1 million and $2.2 million in Net Sales and Adjusted EBITDA, respectively. It is expected to generate approximately $15.1 million and $2.9 million, in Net Sales and Adjusted EBITDA, respectively for 2023.
Financing is available for qualified bidders.
Operations: The Company, which operates from two buildings, has 70 employees and showrooms in 35 states via a leading DIY Retailer. Its products are present in one of the fastest-growing DIY home furnishings stores in 193 locations nationwide. Its manufacturing facility is equipped with the latest glass fabrication machinery as well as its own tempering furnace, and exclusive, branded hardware line.
The real estate, which is comprised of two facilities (valued at $6,000,000), is in addition to the asking price for the Company.
Buyers will be required to sign an NDA other than the standard Synergy NDA.
Reason For Sale:The owner is ready to transition control of the Company which has immense potential and is seeking a buyer that can bring it to the next level in its growth journey. The Management team is strong and wishes to continue building upon the Company’s successes.
Potential Growth:From 2014-2018 the Company appeared on INC. 5000 as one of the fastest-growing companies in the United States.
The Company’s existing franchising segment represents a fast-growing, low-risk growth opportunity that is ripe for expansion, as it is the only custom shower door franchise model available in the market.
The acquisition of smaller local firms, selling the Company’s own-branded hardware directly via the wholesale channel, reentering into the glass and mirror segment, and expansion of the commercial business are opportunities for upside revenue.
Industry Growth: The glass shower door industry is poised for high growth due to increased demand for frameless shower door enclosures from the strong remolding sector, in new construction, and via online retailing.