Rich and Anderson of Malone Commercial Brokers sell ODAT Machine and 40,000 sq. ft. office/industrial building to Howell Labs: NEREJ

On By Vaseline

20 Sanford Drive, Gorham Industrial Park – Gorham, ME

Gorham, ME Malone Commercial Brokers negotiated the sale of ODAT Machine Inc., including the 40,000-square-foot office and industrial building on Sanford Dr. 20 in Gorham Industrial Park. The transaction was brokered by Karen Rich and Mike Anderson of Malone Commercial Brokers and closed on March 29.

ODAT is a full-service machine shop with more than 30 years of experience in precision machining, fabrication, welding, injection molding and more. They serve a range of industries such as defense, aerospace, semiconductors, microwave technologies and optics.

Howell Labs. designs, manufactures and tests fluid handling equipment for military, aerospace and other demanding commercial applications.

The expansion of Howell Laboratories, Inc. marks an exciting chapter for both companies. They plan to employ ODAT’s invaluable employees in the acquisition. Howell Laboratories, Inc. is an ESOP, which means they are 100% owned by their employees. Joe McDonnell, president and CEO of Howell, said, “We are very pleased to report that we have been able to retain all current employees and make them part of our employee ownership team. Our focus will be on growing the submarine portion of their business and supporting ODAT’s customer base.”

Richard Pratt, former owner of ODAT, said: “I feel very comfortable with the acquisition of ODAT by Howell Laboratories, they are a great fit. I think this will be very good for the longevity of ODAT and the employees.”

Rich said, “We are pleased to facilitate this transaction, which offers a promising future for the company, its employees and the community.”

Anderson said: “The package sale of ODAT’s property and operations was certainly not for everyone. I am pleased that Karen and I were able to find who we felt was the best buyer for this unique opportunity. As a real estate agent, I enjoy assisting and witnessing the process of one successful Maine company acquiring another.”