This absentee-run company is a market leader in meeting the commercial office furniture installation and reconfiguration needs of the market by capitalizing on its relationships with the design community. They work with companies of all sizes across all industries, as well as with schools, restaurants, and medical, military and governmental facilities.
The business has recovered significantly since the impact of COVID to take full advantage of the healthy local commercial office market and the trend in modifying office spaces to accommodate the post-COVID work environment. The run rate of revenues and seller’s discretionary cash flow over the past six months annualizes to $5.5 million and $1.5m, respectively, in line with the record year experienced in 2019.
- The owner has put a very capable and entrepreneurial management team in place and as a result his involvement in the operations is minimal
- The business has been and will continue to benefit from growth in the local markets, in particular in commercial real estate due to corporate relocations and in-migration
- The business’s primary market has recently been identified as one of the most resilient in the country by a major real estate services company
- Longstanding relationships with furniture dealers for the major manufacturers result in considerable repeat business
- Given the culture of the organization, the ideal buyer will be an individual who brings previous entrepreneurial experience