IAG is happy to announce the sale of our client DNS Tool Cutter Grinding, LLC in Dallas, Texas.
Charles Gilbert ran DNS Tool Cutter, Dallas based machining and grinding company that serviced Top government contractors like Halliburton and Raytheon, for 36 years.
The machine shop was very busy and profitable until the 2020 Covid year hit and negatively impacted its oil & gas client portfolio.
Although DNS maintained and diversified its major client relationships, changes in the workforce landscape impacted its employee headcount and production output.
We were able to attract an industry buyer looking for a large machining operation with an established corporate client portfolio and an owner that was willing to return to operations to support a crucial new corporate client project.
The transaction was executed as an LBO in which the buyer would purchase DNS Tool Cutter based on an asset value of $1 million, exceeding the $675,000 valuation and $875,000 asking price, as a stock sale, absorbing all company debt.
In return, the owners would receive predetermined payments for the business, consulting fees and a small employee salary over an 8 year period. He maintains the title of president, overseeing operations.
“We could not be more happy with the outcome, thanks IAG!”
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