Manufacturing Business Sold to Individual Buyer
After more than 30 years in the industry, health issues caused owner John Brooks to take a step back from the business.
About the Sellers
Founded by John Brooks in 2007, Mill Tek Toll Grinders is a niche business-to-business service company. With customers in the automotive, agriculture, oil, and gas-fired power plant industries, Mill Tek primarily crushes and grinds catalyst - the ceramic honeycomb-like structure used in catalytic converters to reduce CO2 emissions.
The business was growing, and becoming more profitable every year. But John began experiencing health issues that were forcing him away from the business. Knowing the time had come, he began searching for an experienced business broker to help him sell the business.
John received a referral for MidStreet from a trusted family friend and listed his business after meeting face-to-face with the team.
"I interviewed several brokers, but I felt most comfortable with MidStreet."
Finding the Right Buyer
Mill Tek received over one hundred inquiries within the first ten days. The high number of inquiries eventually led to multiple offers, and John selected a full-price offer from an individual buyer.
“The video MidStreet put together for my business brought to light what we do at Mill Tek. I even learned something from them about my own business. My perspective is, that had a major impact on the sale of my business."
The buyer, Reed Buhler came to Asheville to visit the facility and fell in love with the company's simple and effective business model.
As a former business owner in the oil industry, Buhler felt he could continue to provide customers with the same quality service and grow the business into new areas.
The sale was completed by Erik Sullivan of MidStreet Mergers and Acquisitions. Mr. Sullivan has assisted many manufacturing company owners in the preparation and sale of their business. To learn more, contact Erik Sullivan at (919) 263-2550 or firstname.lastname@example.org.