Seat Manufacturer Corbin Up for Sale

10/17/2009 @ 3:16 pm, by Jensen Beeler8 COMMENTS

Seat Manufacturer Corbin Up for Sale Corbin motorcycle seats up for sale

One of the largest aftermarket parts manufacturers, Corbin Pacific (known best for its Corbin seats line) is up for sale. On the chopping block since early this year, the California based company has been unable to find a buyer. Continue past the job for the financial details.

Investment bankers are asking $11.5 million for the company, which has offices in both California and Florida. With over $14 million in revenue for 2008, that puts the asking price around the industry standard .8 multiple. Corbin’s net income in 2008 was $1.9 million, which puts operating margins around 13%. If you’ve got a pention for cutting fat, and a $3 million down payment, you too could own your very own seat manufacturer. Thanks for the tip Peter.

Source: BizBen

Comment:

  1. Hayabrusa says:

    Boy, if I only had access to 2.99 million dollars! I love their seats, but have had marginal service from them. With proper management, I can see a good future for this company.

  2. right there with you hayabrusa, if only right?!
    -peter

  3. Jenny Gun says:

    Ok. The A&R collection plate is out, I’ll throw in $5, who is with me?

  4. TeeJay says:

    They announced this info for month now, it is nothing new.

  5. Hayabrusa says:

    TeeJay – Sorry, I missed it the first time around. Jenny Gun – the collection plate thing is a great idea – won’t even need a million donors at that rate! All we’d have to do is turn that money into stock, and then you (we) would all be shareholders.

  6. jenny, if you notice, this is just an update on the subject, stating that they have not sold it YET, “On the chopping block since early this year….”

    i don’t think the guys at a&r were saying it was anything new.

    haha, i can do 20 and be the major shareholder right?! ;)
    -peter

  7. Hayabrusa says:

    Peter –

    Yeah, I guess I’ll have to save you a seat on the board of directors!

    Hayabrusa

  8. Chet Turner says:

    Ordered 2 off seat for Rune with matching backrests. over $1K. Seat arrived in 5 wks. GREAT! Loved the seat, but…
    Seat did not fit me, they said send back will fix, should be no more than 4-5 wks. Then became 5 wks, then 6, then said no more than 2 more weeks. Skipping ahead…this Saturday will be 12 weeks. I have emailed and called multiple times and recently demanding someone call me. I was told just today that I would be called “today”. NO CALL RECEIVED AGAIN. I just want my money back now. Worst service I have ever had for anything EVER. Poor management, poor customer service after $ is paid, extremely poor communication.