The absentee shareholders of RedStone, a branded fruit processing equipment manufacturer with over 90 years of operations, seek a new owner. The company manufactures and rents highly automated equipment for several niche fruit processing applications. RedStone assembles its products in-house and leases them to national and international food processors. Average customer tenure of the top 10 customers has been over 30 years. RedStone has begun expanding its rental fleet recently and will have over 540 machines under leases by the end of the year.

The Company has in-house design and engineering capabilities. It is launching a new patent pending machine for a new fruit this year. This machine is already under a test lease with a customer who expressed interest in several machines. Redstone’s 15 employees provide all facets of its operations today. The Company’s President has strong experience in the food processing industry and can remain with the business post-transaction. With that said, he’s also open to a transition to a new President with experience in machine manufacturing or fruit processing. RedStone also engages agents and contractors in various parts of the world to support its sales and service efforts.

This business has been owned by a large and diversified family office for more than 60 years. With current shareholders in their 60’s and 70’s, they realize it’s time to let RedStone find another good home. As such, they seek a full exit. The family’s objective is to maximize the sales price through the sale to a financial or strategic buyer. This business could be an excellent acquisition for an experienced searcher looking to grow organically and through acquisition in the food processing equipment space.