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BUSINESS INTERNATIONAL GROUP, LC / AP INTERNATIONAL, Inc. 8279 Ford Rd, Superior Twp, Michigan 48198-9429 Voice/Fax: 734-483-4323, Pager/Voice: 313-201-3628, Alternate Fax: 734-662-5673, Alternate Voice: 734-662-4139 E Mail: [email protected] ALEX PENN, MIKE FORTUNA �Professional Affiliations: International Business Brokers Association (IBBA); Michigan Business Brokers Association (MBBA); Societe Internationale de Merger e Acquisitione; Licensed Real Estate Broker, Licensed Security Dealer-Finder. �Year Started: 1984 �Specialties: Manufacturing, Distribution,Larger Service Companies, Business Consulting, Appraisal, Financing, Marketing, Foreign Contacts. �Representing: Businesses with annual sales from $5MM to $900MM, Investment Banking firms in New York and locally, including CitiBank Venture Capital Group with investment assets of up to $1 Billion designated for automotive related and other manufacturing firms. �Geographical Area Serviced: US, especially mid-west; Canada; Europe; Mexico; S. America; Australia, Asia �KEY INDIVIDUALS & BACKGROUNDS: �Alex Penn received his MBA in Finance from Harvard, worked in finance for the Ford Motor Company and the Credit Lyonnais Bank in France and New York before starting a very successful executive recruitment firm specializing in bringing higher level executives to Michigan for many auto related firms. He was part-owner and President of a medium sized manufacturing firm in Jackson Michigan until selling his interest in it to begin doing Mergers and Acquisition work. He has been very active in various business networking groups including the Association for Corporate Growth and the Harvard Business School Club. He was responsible for Ford's acquisition of an interest in a major outstate plastic molding operation subsidiary, has arranged many other acquisitions of firms priced as large as $100 Million, including the purchase of Aetna Stamping by CitiCorp Venture Capital (New York), in cooperation with Morgan Stanley's Automotive Investment Banking Group in Chicago and its subsequent sale to a French congolerate. �Mike Fortuna began his business mergers and acquisitions practice in 1984 after many year of selling real estate, especially commercial, land development, the building business and starting, operating and selling several large successful businesses of his own. He has an MBA from the University of Michigan, where he ran executive training programs attended by many major US and foreign corporations. He has consulted, written magazine articles and presented seminars for companies of all sizes, (as well as teaching university credit courses), in the areas of marketing, finance, management and business policy. He was director of research personnel activities for the University of Michigan and was also executive director of a state organization of executive recruiters after having done extensive work in the placement field. He has worked jointly with AP International for over 7 years and been responsible for the sale of many businesses and commercial properties ranging from sole proprietorships to multi-million dollar transactions. �Ed Derbabian has been a CPA for over 30 years. He has done accounting and business valuation for many manufacturing, construction, health care, recreation and distribution firms and been CFO for several businesses as large as $90 million. He provides litigation support to attorneys and is an author and lecturer on a variety of CPA topics. He is treasurer and a board member of both Pontiac Osteopathic Hospital and the Armenian American Business Council. Ed is a past president of the North American Computer Accountants Association. He has been involved with business brokerage, mergers and acquisitions for many years and specializes in manufacturing and distribution firms priced at $5 to 70 million as well as luxury golf courses in the Midwest and Florida. �Bob Siefert has recently retired as President of Budd Corporation, a billion dollar supplier of large automotive stampings and a subsidiary of the German firm Thyssen. Before that he was president of Kelsey Hayes, one of the largest worldwide suppliers of auto wheels, brakes and other auto parts. Concurrently he was also president of Fruehoff trailer until its acquisition, which he largely engineered. He is a Harvard MBA �Al Hegg is former VP of Manufacturing & Assembly at Mascotech-a 2.5 Billion Automotive supplier. He was VP of Manufacturing of Larson Industries-nationally known producer of Glasspar and Larson boats and other recreational products. He was also CEO of Century Boat Co and responsible for increasing their revenues from $3 to $60 million and is currently working as a turnaround and Mergers & Acquisitions Specialist. He is a Mechanical Engineer with advanced business training �SPECIALTIES: JOINT VENTURE, DIVESTITURE, MERGER AND ACQUISITION SERVICES Whether for reasons of retirement, health, industry consolidation, globalization, financial distress, etc., business owners or CEOs are provided with all the services necessary to complete a successful sale, acquisition, joint venture or merger. In the event a business (by way of location, industry or size) would be better served by another firm, the owner is carefully referred to our worldwide network of associates. �SERVICES INCLUDE: Joint Ventures & Consolidations with US and Overseas Auto Suppliers Financing for Strategic Growth Strategic Planning and other Business Consulting Market Valuation Study Pre-Sale Merger/Joint Venture Consulting Evaluating Options of Taking Companies Public vs. an ESOP Preparing Prospectus, Marketing and Financial Materials Strategic Marketing Plan to Locate Likely Prospects Confidential Marketing, Buyer/Seller/Partner Screening Negotiating and Coordination with Attorneys. CPAs, other professionals Establishment of 51% minority owned subsidiaries �PARTIAL CLIENT LIST: Aetna Industries Budd Corp Cambridge Plastics Citicorp(New York) Chrysler Corp Core Industies/United Dominion Ford Motor Company General Motors Corp JAC Products K Mart Corp Newcor, Inc. Observer Eccentric Newspapers Perigrine, Inc. and many others, smaller or requiring confidentiality | |||||||||||||||||||||||
| Here Are Some Deal Possibilities for Your Firm | ||||||||||||||||||||||||
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| �����������SELLERS����������� 2-PUBLISHING AND PRINTING FIRM: SE MI area, produce 6 leading hobby/craft magazines plus many how-to books. Also do commercial printing for other quality publications. Good margins with quality staff. $6,900,000, should net almost $1,000,000 this year with excellent expansion possibilities. Owner just purchased two financially distressed publications and seeks others. He has done this before and turned them around very profitably. 6,18,81-METAL STAMPING PLANTS : Detroit suburbs, sales from $20 to 135,000,000, , modern technology and facilities, major contracts with auto firms, strong growth and profits projected but consolidation/buyout would increase their long term value as 1st tier suppliers. Price, terms negotiable. 7- AUTO PLASTICS TRIM AND PARTS MANUFACTURER: 3 plants located west of Detroit. Sales over $6,500,000. Projected sales of $14 million. Terms available. Earns over $1,000,000, could easily expand. Patents and proprietary processes included. Primarily exotic trim parts, plus auto heating, air conditioning, and some metal parts. 9- PACKAGING MANUFACTURING FIRM: W. of Cleveland. Modern plants and offices near expressways. Excellent reputation. Corregated and other paper, plastic, foam, etc. containers for primarily auto firms. Sales $25,000,000. Nets $10%, Priced at $15,000,000. Owns sawmill and woodlands for pallets. Excellent growth history and prospects. Outstanding management, marketing, technical staff would stay. Can buy 49% now, remainder over 3 years 11- PLASTICS MANUFACTURING FIRM: Detroit suburb. Sales of $21,000,000, profitable and expanding fast. Excellent reputation and contacts. Full range of prototype capability as well as toolmaking and production. $10,000,000 plus debt. Modern plant operating at about 3/4 capacity. Strong International customer base. Asset values over $100 million. 12- MACHINE BUILDING/REBUILDING COMPANY: N.E. of Detroit , many patents on method superior to CNC for long run parts. Projected current profits only $250,000 on sales, service, re-engineering. Lease/option on plant. $1,500,000 with terms. Fantastic potential for someone with marketing skill and expansion capital to capitalize on this opportunity. 13-FASTENER MANUFACTURER & DESIGN CENTER, 8 plants in midwest, sales over $100 million with margins as much as 20%. Price negotiable 15-INDUSTRIAL SUPPLIER: Detroit suburb, building and offices in Industrial park near expressway. Excellent industry contracts and reputation. Sales $20,000,000 . Priced at $2,500,000. PROFITABLE AND EXCELLENT AS ADD ON FOR STRATEGIC BUYER OR FOR MINORITY BUYER 16-TUBING MILL: West of Detroit, modern equipment, currently minority controlled. Many contracts with Tier 1. Needs investor with $100,000 plus working capital for several months. Eventual buyout/resale could net profits of over $1 million 17-INDUSTRIAL MECHANICAL CONTRACTOR: Earns $3 to 4 million, Modern facilities W. of Cleveland. Most prestigious contractor in their field. Substantially increased sales already booked for "99. Auto & other plants, Govt., Refinery, Recycling customers. Beautiful buildings in modern Industrial Park near X-Way & Rail. Superb staff & management. Sales over $50 million. Design, fabricate & install complex piping systems, etc. Seeks levereged buyout financing. Priced at $19 million 21- BALANCING MACHING MANUFACTURER West of Detroit, sales approx. 15 Million, profitable 22-EXECUTIVE LIMOUSINE SERVICE: N. Detroit suburb, earns between $75,000 and $200,000 per year depending on vehicles used and owner's willingness to work. Priced at $295,000. Most prestigious firm in area. Owner has been cutting back, has other business. Building and adjacent modern residence also available separately. Great expansion possibilities. 23-HYDRAULICS MODULES MANUFACTURER: West of Detroit, produces large modules for assembly operations in auto plants. Sales of $20 million to major tool manufactures. 31-ULTRA PRECISION SCREW MACHING MANUFACTURER: S. Michigan, Partially public held. Sales of over $100 million to auto, computer, medical markets Very profitable with outstanding growth record, capable executives will stay. Stock currently appraised at over $50,000,000. Open to acquisition of others, merger or sale. 84- CHEMICAL PROCESSING/SERVICE FIRM: Western suburb, sales over $3M, profit over $1.2M. Priced at $7M, wants $5M down! Can easily expand sales by 25% or more with little increase in overhead expenses. 99-MANUFACTURING COMPANY: Screw Machine, stamping,cold heading, machining and assembly for major auto firms and suppliers. Good growth. Owner would stay in sales/design capacity (he is really outstanding). Three modern plants west of Detroit on over 10 acres. Nets $2-3 Million/year. Price: $19,000,000. 132- PLASTIC INJECTION MOLDERS : Interior and exterior auto parts. Tier 1 suppliers with several US plants and foreign joint ventures. Very profitable with sales up to $400 Million. Priced up to $150 millon. 138-CONSTRUCTION INDUSTRY PUBLICATION: Largest in it's field with over 100,000 subscribers, ready to enter joint venture with customer group which should at least double already profitable sales. 141-ELECTRICAL/MECHANICAL PRODUCTS MANUFACTURER: Several countries, over 400,000 sq. ft of modern plants, tier 1 to almost all auto firms, electromechanical assembly sales of over $100 million 142- ELECTRICAL PRODUCTS MANUFACTURERS: SE Mich, $600,000 to $5,000,000. Sales up to $7,500,000 with profits up to $1,300,000. Unique niche products requiring electrical engineering knowledge/ experience. Sales to OEM in research and automotive machine building areas. Terms available. 159- TEXTBOOK PUBLISHERS: SE MICH, Several firms with sales from $7-15 million, niche markets, particularly college and religious texts. Substantial profits and strong growth history. Priced from $4.5-14 million �����������BUYERS����������� 1- RECREATION OR MOTOR HOME BUSINESS.: Buyer has several million to invest plus substantial family and partner backing 2-LARGE DISTRIBUTION BUSINESS: Prefer Midwest area. Buyers have prior experience plus substantial financing available. 3- MANUFACTURING BUSINESS: in $3-300 Million price range, anything auto related, prefer unique products 4- AUTOMOTIVE SUPPLIERS: in $3 to 100 Million price range, especially plastics or metal fabricating. Parent companies' sales over $1.5 Billion. 5-ELECTRONICS SUPPLIER: Recently sold electronics manufacturing firmfor $350 million to joint venture between Japanese and major US firm. Seeking any electronics manufacturing firm priced over $5 million anywhere in the world. 6-CHEMICALS BUYER: Seeks any chemical manufacturing or distribution firm, priced up to $10 Million 7-INSTRUMENTATION/CONTROL MANUFACTURER: Fortune 500 buyer of equipment for gas lines, other electronics, valves, filters, assemblies 8-FORMER OWNER: of medium sixed manufacturing firm recently sold for $20,000,000. Seeks any manufacturing or distribution firm 9-FORMER OWNERS: Large electrical automotive parts supplier recently sold for over $300 million seeking smaller electronic manufacturers 10-MINORITY BUYERS: Extensive manufacturing, engineering and business backgrounds with up to $20 million available for investment in US auto related tier 1 supplier. 11-MANUFACTURER: Valves, fittings, assemblies for specialized markets. Division of Public firm which also does electronics,farm equipment, etc. 12-MANY BUYERS: with $500,000 to $2 million to invest in small manufacturing or distribution firms. Currently executives with major firms in SE MI seeking to purchase their own firms Miscellaneous Listings 2.Specialty Construction and Supply Company, Three locations in Michigan. Asking: $8,000,000Gross: $15,000,000. Cash Flow: $2,500,000. Many years of success, growth of sales and profitability. Staff of 100+. Operates over a wide geographic area. Many fine customers. Established: 1980 Employees: 130. Largest of its kind in Michigan. Buyer must be bondable in order to keep state and large company service contracts. Owner will train. Background in construction helpful. Partner Retirement 3.Golf Course, Romeo Area, Asking: $8,500,000. Gross: $1,750,000. Top notch in every way!!! Established: 1965. Employees: 5. Over 400 acres. Presently 27 holes. Site plan for additional 18 holes. Pro Shop, Owner's office , Banquet facilities for 250. Bar seats 65. Pole Barn 60 x 100. 7200 s.f. home included in sale. New underground sprinkling system. 140 golf carts. Very popular and well known course. 4.Distributor of snack foods, Ohio. Asking: $1,300,000. Gross: $4,100,000. Cash Flow: $462,000. Distributes branded, popular snack foods. Large customer base. Established: 1977. Employees: 36. Operates out of two distribution facilities and two satelite locations within Ohio. Company is a dominant player and well-positioned. Excellent potential for expansion by hiring additional sales people. General manager will be available to provide transition assistance. Company is divesting this division to focus on its major area of business 5.Asphalt Distribution Business For Sale, Columbus, Asking: $1,600,000 Gross: $1,300,000 Cash Flow: $430,000 Estab. l962. Distribution to developers, contractors, state ,city, county and federal highway programs. Includes real estate , equipment , rolling stock. and business. . Owners are off 3 months per year. Employees: 2 Facilities: 1400 sq. ft. office /storage and 2.25 acres with a 4100 sq. ft. building leased at$14,000.00 annually. Property included in sale price. Very little competition. Substantial growth possible. Financing negotiable. Seller retiring, is willing to stay for training and transition. 6. Metal Stamping Manufacturer ,Toledo. Auto and other industrial. Sales $5.2 million. Nets $1,200,000. Excellent, non-union workforce produces quality, happy customers, participate in a highly effective gain-sharing plan. Utilizes latest technology for integrated manufacturing, production and financial controls. Excess capacity exists on currently installed equipment. Space is available to add six additional large presses and vacant land is available for other expansion. on site. Added sales will increase profits. Employees:10 to 24 . Founded l965. Owner/managers will retire after suitable transition period. Needs strong marketing , manufacturers representatives, brochures, trade shows, advertising. ASKING PRICE RANGE: $5.0-9.9 Million 7. Resort motel ,Wisconsin. Four-season motel. 170 rooms. In major, Midwest recreation and vacation area. Over three million visitors annually. Employees: 25 to 49. Built 1988, includes a large outdoor pool, a kiddie activity pool, a whirlpool, picnic shelter and game room and an 800 square foot garage. Company participates in multi-million dollar national marketing program to draw from large market area. Exceptionally maintained property-- includes 3 acres with frontage to major highway and interstate interchange. Experienced site general manager and staff. Owner absent six months per year. Experienced management willing to remain. Consistent earnings. Additional property for major adjacent expansion available from seller. Excellent cash flow.REVENUES: $3,000,000 ASKING PRICE RANGE: $5.0-9.9 Seller will finance. 8. Manufacturing- Pipe Cutting and Deburring , Oakland County, EMPLOYEES:25 to 49, Estab. l946. MARKETS: 95% auto industry. Plant :23,000 sq ft. Owner will stay for up to 3 years. REVENUES: $8,000,000 ASKING PRICE: $5,000,000. Seller will partially finance. 9. Trucking Company, Estab. l984,West Michigan, dry bed hauler, many customers. EMPLOYEES:10 to 24. Good name in the industry, fine loyal customers. Hauler of dry bed products including paperboard. Serves the area east of the Rockies but concentrates south and east of Michigan. Leases office and terminal. Equipment is up to date and well maintained. Management skills with a trucking background would be very helpful. GROWTH OPPORTUNITIES: Outstanding. Owner wants to partially retire REVENUES: $1,700,000 ASKING PRICE: $400,000. $250-499,000 DOWN 10. Auto Dealer Sells collectible corvettes, other classic cars. Sales increased each year in its fifteen year history. Beautiful showroom/office/repair facility built seven years ago. Real estate not included in price. EMPLOYEES: 5 to 9 REVENUES:$5,756,000 ASKING PRICE: $350,000 AMOUNT DOWN Negotiable 11. Fabricated metal products, Grand Rapids area, Metal working, engineering and product development for a wide range of industries. Quality and dependability responsible for significant expansion over the last 20 years. REVENUES: $1,600,000 PRICE: $1,700,000 AMOUNT DOWN Negotiable 13. Mold Shop , Central Minnesota. Company designs and builds die cast and plastic injection molds. 7 major customers. Employes 12. Very Profitable!! REVENUE RANGE:$1.0-2.49 Million ASKING PRICE : $750,000-999,000 14. Engineering Firm, Midwest US. Independent service to the scrap industry, recycling centers related firms, ASKING PRICE: $500,000 18. Precision Grinding, W. MI.,Precision Metal Grinding. EMPLOYEES: 5 to 9. Established 1967 Aircraft , Defense, Medical, Auto customers. 80' x 80' Plant and storage. Additional land included in price for future development. New CNC Grinder. Retiring owner. Nephew plant manager. Non Union skilled Employees, Unlimited growth potential with strong marketing. REVENUE: $500-999,000 ASKING PRICE: $1.0-2.49 Million. Seller will finance part 19. Finishing, SW Michigan, Allegan County. Large coating line Liquid and Powder, 7 Stage Iron Phosphate Pre-treatment, Automatic & Manual Electrostatic Coating, Plastisol Primer Flow Coat, High Volume Capability, Parts up to 8' high. Manual Electrostatic Coating, Medium to High Volume. For appliances, farm and garden equipment, auto interior,communication equipment, hospital furniture, computer components, hardware, industrial equipment, etc. EMPLOYEES:25 to 49 Established1969 Plant & Equipment capacity to do $4,000,000 - $5,000,000. Capacity is currently under utilized. 22,425 sq ft plant, office 575 sq ft. Unlimited growth opportunity. Owner Retiring. REVENUE RANGE: $1.0-2.49 Million PRICE RANGE: $1.0-2.49 Million. Seller will finance part 20. Tests metals, plastics, chemicals, and environmental areas. EMPLOYEES:10 to 24 Company provides a full range of analysis, testing, and evaluation of organic, metallurgical, environmental, chemical, and mechanical materials for manufacturing related (many automotive related) industry and government. Extensive state-of-the-art intrumentation, analyzers, and test equipment. Owner active in management and would stay during transition. Labs supervised by managers. Much repeat business from established customers Highly respected.. AMOUNT DOWN $1.0-2.49 Million 21. Ice-cream Wholesaler Long established ice-cream and ice-cream novelty wholesale distributor located in major Western MI city. Serves over 1,200 vendor and wholesale accounts. REVENUE RANGE: $2.5-4.9 Million 22. Manufacturing-Metal , Grand Rapids, Offers diversified services in metal working, engineering and product development for a wide range of industries. Commitment to quality and dependability has allowed it to expand its operations significantly over the last 20 years. Established l978, EMPLOYEES: 10 to 24, Metal stamping, screw machine, sheet metal, assembly, etc. Markets through word of mouth. Excellent reputation. They cover territories through a network of independent representatives. PLANT, 20,000 sq.ft. Active owner will eventually retire. Full time management and support staff in place. Strong sales growth record with good management and support staff in place. Significant opportunities for growth and expansion. REVENUES: $1,600,000 ASKING PRICE: $1,700,000 Seller will finance part 29. Plastic Injection Molder Two Plants in Toledo area. $3 million in long-established, fast-growing, profitable sales to automotive, appliance, construction industry, etc. 36 employees, 21 presses up to 880 tons, can include nearly 30,000 sq. ft. buildings. Owner can stay. Current sales are outrunning capital available, may consider partner/investor. Price and terms negotiable. Recent loss of 40% of business to minority. PRICE $1.0-2.49 Million 30. Manufacturing-plastic/rubber molds, Indiana. Asking: $15 million Gross: $4,800,000, Nets$2,800,000. Supplys a combination of rubber and plastic molds for the creation of a high sealing gasket for use in engines in automotive and trucking industry. Builds molds for other customers and performs machining for others. Sophisticated owner could capitalize on established technology. Established: 1978. Employees: 16. New 16,000 sq.ft.facility with 3,000 sq. ft office. Plastic and rubber combination for gaskets has literally no competition. Owner retiring. 31. Manufacturing-glass mold maker,Indiana, Established: 1991 Price:$1,500,000 Gross: $3,800,000. Experiencing phenomenal growth in demand for its exceptional glass molds.$5,000,000 sales. Current cashflow of $800,000 after a slow start in its current fiscal year. Absentee owner selling to provide liquidity for other projects. Employees: 24 Facilities: 15,000 feet (2,500 office.) Strong machining capabilities. Storage facility-5,000 feet on 2 acres, with10 more available for future expansion. One of only three major players in the industry. Good growth and expansion possible. Some seller financing. Management team of father, son will remain with business. 43. Process Control Systems Integrator, Ohio, Cash Flow: $325,000. Design and assembly of integrated process control systems. Engineering and consulting and project management of installations. Design and supply of custom software for programmable conrollers. Fabrication of housings, cabinets, consoles and control panels for complete systems. Products and services are sold to Fortune 500 companies building and operating major facilities. Markets include food, water, wastewater, metals, steel, chemicals, electrical and other heavy manufacturing. Non-union, but the heavy technical component of the business causes anaverage wage in excess of $12/hr. Sales in recent years are in the $4.5 to $6.0 million range with1997 projected to be $7.0 million. Profits have been variable, as influenced by the flux of major projects. Not leverageble. Buyer is logically a larger entity engaged in a similar or related business that wants to expand capabilities, markets, geographic coverage, etc. Established: 1967. Employees: 60. Facilities: 35,000 sq. ft. plant and offices. Fabrication bay is 62x365x35 ft. with 20 ton bridge crane. Equipment includes brakes, shears, punches, welders and spray booth. Autotrol CAD system with plotter. Competition tends to be regionalized, with similar companies serving other areas and industries. There are also a few larger, more national competitors with higher overhead. Huge market. Financing: Negotiable. Extensive seller training. Key people will also stay. 44.Downriver Trucking Company -14 Gravel Trucks & Trailers $1.4 million 46.Western Michigan Trucking Firm, Sales of $2.7Million, priced @ $1.2 million. Includes 22 trucks 47. Publication Serving Heavy Construction Industry, $107,000 profit on sales sover $500,000 All growth so far has been from midwest region. Posed to go national for substantial increase in profits. Price $500,000 48.Producer of Electrical Control Panels, for conveyor systems, mostly auto related. North of Detroit, Earned $200,000 on $1.5 million sales 51. Golf Course, 18 holes, Very nice course and clubhouse with expansion room for hotel,. Unique driving range over lagoon with floating golf balls. Priced at $7.5 million 52.Specialties Service Co, Northern suburb, Owners 70 years old. Blueprinting, specialized copying for construction, engineering trades. Nets $150,000/yr. Sales 1.5 million, Asking $1 million or best. Terms possible. 12 employees + 2 owners who will train and stay for transition
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