david bishop
center ossipee, NH (USA)
Role(s):
VP/SVP/Dept Head
Mitee-Bite Products Inc
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Startup
Location:
center ossipee
Industry:
Manufacturing
Year Founded:
1986
Number Employees:
10-50 people
Description:
Mitee-Bite Products is a family owned business, my father started 23 yrs ago with 2 part numbers(36 page color catalog). We are the worlwide leader in low profile, high-density workholding for the machine tool industry. Currently in 30 countries. Growing 16% over the last 5 years. My father would like to retire and sell for 6M. I own 15%, the thought of 45K monthly payments, based on a 15 year note is a little scary! With his departure the GP would rise to approx 25%. If I sell my shares I have a nice little "egg" but the family business is no longer. I'm open to all suggestions and recommendations. 3.6M expected sales.
Kind Regards,
David Bishop - GM
(URL removed)