July 2002 - Gottesman-Company



-68580-925830Flight Simulator Manufacturing CompanyAcquisition--Southwest US00Flight Simulator Manufacturing CompanyAcquisition--Southwest US4972685000The Company has manufactured aircraft simulators for twenty-eight years. Their products include desktop simulators and procedure trainers; AATDs (convertible generic cockpits); FTDs (specific cockpits, generally matching training aircraft) and recently FFSs (actual airline and corporate cockpits). They recently designed a pallet transportable helicopter device incorporating VR (See Below). Advanced simulators are offered with or without motion. At the end of 2019, their backlog was approximately $1,000,000.Professional Airline Pilot Training: Boeing, Airbus and regulatory authorities project an unprecedented need for airline and corporate pilot training to meet the pilot shortage projected for the next twenty-five years (29,000 pilots annually, Boeing). The training industry is adapting to meet these needs by: 1. Building new training facilities; 2. Increasing student throughput; 3. intensifying the use of simulators; and, 4. Employing Virtual Reality simulators. FTDs will become an essential training tool because of the focus, intensity and SAFETY required in ab initio professional pilot training. The training industry is beginning to make this shift, and the seller is well positioned to provide FTD trainers that will become a necessity in these programs. Military Wartime Exercise Training Devices. They recently introduced Virtual Reality enhancements to a helicopter simulator and sold 32 units to the Army and Navy for $35,000 per unit for evaluation in battle field simulation training. This military training device enables the military to increase participation in exercises and to reduce costs significantly. The training devices are sold globally. The Company has relied on direct sales and service (85% of sales) and has developed a limited network of dealers and distributors (15% of sales). Sales and Marketing includes attending aviation trade shows, globally; traditional advertising; and its website. The Company employs a full time Vice President of Sales and Marketing.The Company has positioned itself as a price leader against its major competitors. A pricing advantage has been developed through innovative design and engineering; processes that are continually being improved. The quality of the Company’s products is competitive in all respects.Sellers’ Objectives are to:To take advantage of a training market that is turning increasingly to simulator technology to improve the quality of training and to reduce its cost; To provide capital to be able to meet growing demand; increase sales and marketing efforts; expand sales and service centers globally; to fund new product development; and to establish dominance in their niche.To provide diversity and liquidity for their personal estates. The Founder who is CEO desires to remain in his position indefinitely and to leave stock on the table. The other Founders, are willing to sell all of their stock in the Company. Financial Summary2020 Est by Seller20192018Gross Revenue$6.0M$5.6M$4.95MAdjusted EBITDA$450K $391K$784KOther HighlightsFinancialsManagement Team in PlaceYears in BusinessSICReviewedYes273728-07, Aircraft Flight Training EquipmentDirect inquiries to:-979805127000Gottesman CompanyAmerica’s International Network of M&A Business BrokersTel: 212-330-8010 Fax: 646-434-4557Refer to: S-1852 JML E-mail: office@gottesman- ................
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