Custom Skylight & Roof-Access Products Manufacturer, 38-Year Northern California

Full Editorial Writeup

This is a nearly four-decade-old manufacturer of custom skylights and complementary roof-access building products based in Northern California. The company sells direct to architects, general contractors, and property owners, cutting out any dealer network and capturing full margin on each project. It runs on a proprietary internal system tying together customer, order, production, and delivery data, which is a genuine operational advantage for a shop doing roughly $4.6M in revenue with a lean crew of 20.

The financial profile is clean: $4.64M in 2025 revenue, $1.08M in SDE at a healthy ~23% margin, a debt-free balance sheet, and margins that have improved over the past three years. Industry certifications required for commercial specification work create a real barrier against smaller competitors, and the business benefits from referral- and repeat-driven relationships that keep the pipeline full on minimal marketing spend.

At a $2.9M ask against $1.08M SDE, this is a ~2.67x multiple, which is attractive for a durable, certified manufacturer with four decades of operating history. The included $564K of inventory and $203K of FF&E further sweeten the blended multiple on the operating business. The main caveats are customer concentration risk, cyclicality tied to commercial and residential construction, and key-person dependence on a hands-on retiring owner.