20 Sanford Drive, Gorham
Malone Commercial Brokers is pleased to announce the successful sale of ODAT Machine INC., including the 40,000± office and industrial building at 20 Sanford Drive in Gorham Industrial Park. The transaction was brokered by Karen Rich and Mike Anderson of Malone Commercial Brokers and closed on March 29, 2024.
ODAT Machine is a full-service machine shop with over 30 years of experience providing precision machining, fabrication, welding, injection molding and more. They service a range of industries such as Defense, Aerospace, Semiconductors, Microwave Technologies and Optics.
Howell Laboratories, INC. engineers, manufactures and tests fluid processing equipment for military, aerospace and other demanding commercial applications. Howell Labs brings 60 years of experience, priding itself on rigorous design, prototyping and manufacturing processes to deliver the highest quality solutions that lower total ownership costs and environmental impact.
The expansion of Howell Laboratories, Inc. marks an exciting chapter for both companies. They plan to hire ODAT’s invaluable employees with its acquisition. Howell Laboratories, Inc. is an ESOP, meaning they are owned 100% by their employees. Joe McDonnell, President and CEO of Howell stated, “We are very happy to report that we were able to retain all the current employees and make them part of our Employee Ownership team. Our focus will be growing the submarine portion of their business as well as supporting ODAT’s customer base.”
Richard Pratt, former owner of ODAT expresses his excitement for the transition, “I feel very comfortable with Howell Laboratories acquisition of ODAT, they are a great fit. I think this will be very good for the longevity of ODAT and the employees.”
Karen Rich stated, “We’re pleased to facilitate this transaction that provides a promising future for the company, its employees and the community.”
Anderson added, “The package sale of ODAT’s real estate and business was certainly not for everyone. I’m pleased that Karen and I were able to locate who we feel was the best buyer for this unique opportunity. As a broker, I enjoy assisting with and witnessing the process of one successful Maine-based business acquiring another.”
The deal was a full collaborative effort between both local Maine businesses, as well as the two talented brokers at MCB, and even more behind the scenes. We are excited to see HLI carry on ODAT’s legacy!