This business is a 98-year old company located in the Southern Tier of New York State. Known for its craftsmanship and attention to detail, the Company fabricates and installs custom stairs, steel and aluminum railings, metal pipe and picket rails, and ornamental ironwork.
The company is currently in a turnaround after a recent history of less than desirable results. July YTD 2019 financial results show considerable improvement with revenue of over $1,400,000. Average annual revenue over the three-year period 2016 to 2018 was $2,200,000. Revenues were as high as $5,000,000 in 2012 and $4,000,000 in 2011.
The Company has a wide range of clients within the southern and upstate regions of New York State. Customers include manufacturing plants, industrial complexes, schools, hospitals, office buildings, government buildings, malls, and shopping centers.
The Company leases the real property (0.19 acres) and the building (12,648 sq. ft.). Furniture, fixtures and equipment plus machinery has a cost basis of over $500,000.
The business is owned by a public company that has now chosen to divest the Company and focus on its core business in other industries.
$399,000 which includes working capital (inventory and net receivables), approx. $790,000 as of July 31, 2019
For more information call 518.599.0219.
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