Stage Setup Company: Inside a $28M Theater Business Deal

In this episode of Acquisitions Anonymous we uncover a theatrical supply and construction company based in Wisconsin that’s been around since 1981. It’s a niche player in stage setup and lighting for venues like theaters, casinos, and schools. The company is projected to hit $28M in revenue for 2024 with $1.3M in EBITDA. The two brothers running it are looking to exit, though one may stay on for a transition.

Link to the listing: https://app.rejigg.com/businesses/108820

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More about this episode:

Red Flags
- Inconsistent EBITDA over the years—especially the 2020 peak during COVID.
- Margins are razor thin for a business with $28M revenue.
- Large employee headcount could be a drag on profitability.
- Owners possibly running personal expenses through the business.
- Inventory management could be difficult with old or obsolete equipment.

Green Flags
- Strong, diversified customer base, from casinos to schools and theme parks.
- The business is rebounding after COVID, with steady revenue projections.
- Potential for growth with AV companies needing high-end lighting and rigging.
- One owner is open to staying on for a smooth transition.