Edward Repic

Akron, OH (USA)
Role(s):
Founder/Owner/Principal

Architectural RefuseSolutions, LLC

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Location: Akron
Industry: Manufacturing
Year Founded: 2006
Number Employees: 1-10 people
Business Stage: Growth (not profitable)
Entity Type: Limited Liability Company
Description: We are an existing small business (up to $2.5MM annually) manufacturing trash and linen chutes, trash compactors and chute based recycling systems for architecturally specified multi-story residential, medical and hotel projects. Our products are Listed with Underwriters' Laboratories (UL) for fire and/or electrical safety. We entered this industry after identifying the fact that the chute industry was approximately two decades behind the rest of the construction industry in terms of Life Safety. Our Chute Life Safety enhancement efforts were considered so significant by UL (who had to approve changes to our approved products as we created the changes) that they sponsored us to the International Code Council and assisted us in procuring changes to the building codes that include our products. These changes were made to the International Building Code which is the basis for most of the building codes throughout the United States. We are manufacturers only, and sell our products through a national network of fourteen distributors. Additionally, our workforce is the most experienced in the industry and our products are of exceptional quality. However, the economic downturn created a depression, not a recession, in the construction industry and our work dried up significantly leading to a workforce reduction in our shop from a high of 22 to the current low of 6. We are seeing a resurgence of work in construction, and while we find it easy to get work, we have carried ourselves so long that we cannot purchase sufficient raw materials with which to build product. We need a "Big Brother" to infuse us with $200,000 to clean-up all current obligations, to provide another $100,000 credit line for working capital, and ideally, to become an investment partner. Profitability in good times is 25% or more. We have additionally been approached by another manufacturer to purchase his company as he is getting up in years. He indicates he has two other friends in our industry in the same situation. Those companies, added to ours is the equivalent of 45% of this industry. The increased revenue from any of these acquisitions makes profitability significant ... about $50,000/month on $300,000 worth of work. We would appreciate the opportunity to to discuss these matters with an interested party. Thank you for your valued time and consideration.