Sold the company

T

Toolroomguy

Cast Iron

Joined

Jul 9, 2010

Location

Wisconsin

• Aug 6, 2020

• #1

I hope I can still post here because I no longer own the company.
I am now an employee of a Japanese conglomerate.
They are totally hands off ,as long as we meet the projections.
Cone-echee-wa

 

M

Milland

Diamond

Joined

Jul 6, 2006

Location

Hillsboro, New Hampshire

• Aug 6, 2020

• #2

Toolroomguy said:

I hope I can still post here because I no longer own the company.
I am now an employee of a Japanese conglomerate.
They are totally hands off ,as long as we meet the projections.
Cone-echee-wa

Click to expand...

You can still post, but you have to provide a sushi lunch for everyone each Wednesday.

But no whale meat!

 

D

DDoug

Diamond

Joined

Oct 18, 2005

Location

NW Pa

• Aug 7, 2020

• #3

As long as make your topic titles descriptive.....

 

EmGo

Diamond

Joined

Apr 14, 2018

Location

in the middle of the edge of the center

• Aug 7, 2020

• #4

Milland said:

You can still post, but you have to provide a sushi lunch for everyone each Wednesday.

Click to expand...

At Benihana !

Boy do I miss Rocky Aoki. That guy had the right idea

 

T

Toolroomguy

Cast Iron

Joined

Jul 9, 2010

Location

Wisconsin

• Aug 7, 2020

• #5

digger doug said:

As long as make your topic titles descriptive.....

Click to expand...

I guess I should have spelled it out.
We sold the company my family owns.
Is that better?
Our sales we up 56% last month, compared to the same time last year.
Made it easy for the buyers.

 

g-coder05

Titanium

Joined

Mar 5, 2006

Location

Subic Bay

• Aug 7, 2020

• #6

You can still post, but you have to provide a sushi lunch for everyone each Wednesday.

Click to expand...

Fresh from Fukushima!!!

 

M

Milland

Diamond

Joined

Jul 6, 2006

Location

Hillsboro, New Hampshire

• Aug 7, 2020

• #7

g-coder05 said:

Fresh from Fukushima!!!

Click to expand...

Best part is you can eat in the dark.

 

T

Toolroomguy

Cast Iron

Joined

Jul 9, 2010

Location

Wisconsin

• Aug 7, 2020

• #8

We began about a year ago.
We had to hire a new CEO, so the buyers could see who would run the show after my brother retired.
We also had to have a younger person coming up the ranks in QC,engineering, and the tool room. They know the gray hairs will be gone soon.
Next we had to clean up the asset sheet, after forty years in business we had a number of assets that were disposed of but still on the books.
An investment banker put together a”book” to show interested parties.
We had about ten buyers, some buy and loot private equity,and strategic buyers.
We were not interested in the private equity companies, but they are useful to bid up the purchase price.

 

J

john.k

Diamond

Joined

Dec 21, 2012

Location

Brisbane Qld Australia

• Aug 7, 2020

• #9

Seen all those deals.....new owners are always either looters or hopelessly optimistic.......I know nothing about engineering ,but ,hey ,I have a degree in Business ,how hard can it be?.........Ive got an offer from the next door owner for mine ,hes already got a redevelopment of his land approved,but now realises twice the land ,same costs virtually ,is a much better deal.......Its gonna be a walk in walk out ,he wants the land soon as possible ,says I can stay at least two years it takes for planning ........but Im old ,better to just forget about everything ,and let him get in the scrappies ,or whatever he wants to do.