Tupelo Data Room
Other Manufacturing, Other Wholesalers & Distributors
Active

FilterQueen Residential Vacuum and Air Filtration Systems

Cleveland, Ohio, United States
Asking Price$5.50m
Revenue$6.41m
EBITDA-
Cash Flow-
Description
Health-Mor (HMI Industries), founded in 1928 in Chicago, IL, began with the development of the FilterQueen Majestic vacuum cleaner, a revolution in home cleaning with its patented cyclone action system and high-level filtration. The company adopted a direct sales model, relying on independent distributors to demonstrate and sell its products directly to customers in homes across the US and Canada. This unique approach made FilterQueen a household name for millions of families, building its reputation on quality, performance, and a lifetime service guarantee. By the 1990s, HMI expanded globally, establishing operations in over 40 countries and maintaining its successful in-home sales model. In 1995, the company introduced the FilterQueen Defender air purifier, the only FDA Class II medical device air cleaner on the market—independently certified to eliminate SARS-CoV-2 and filtering 99.99% of particles down to 0.1 microns. Together, the Majestic and Defender create a comprehensive indoor air quality system. Ownership transitioned in 2015 to Dan Duggan and Darryn Murphy, long-time FilterQueen veterans. With decades of leadership in international sales and distribution, Duggan and Murphy have upheld the FilterQueen legacy. Now, the company seeks a new owner to build upon its history of innovation and growth in the air purification and home cleaning industries.
Real Estate
Rent is $28,701 per month
Building Size: 68000 sq. ft.
Number of EmployeesFull-Time: 27
Year Established
1928
Reason Selling
The owner desires to retire and create a smooth transition to new ownership.
Facilities & Assets
The facility is home to HMI World Headquarters (FilterQueen) and is approximately 68,000 sq ft, including offices (14,000), warehouses, manufacturing, and distribution (54,000). It was built in 2017 and is conveniently located near several major highways. The current lease expires on 1/30/2030, and the original lease does contain language regarding assignment and subletting. This facility can also utilize or modify the current manufacturing space to satisfy increases in production demand.
Support & Training
Ownership is open to staying on to ensure a smooth and successful transition. Key management employees are staying on.
Market & Competition
Increase or develop new channels of distribution.
Growth Opportunities
Management has identified several marketing opportunities that a new owner can implement to increase sales by expanding market exposure for the products. If Majestic Vacuum sales could be increased by 10 units daily, the annual sales would increase by $4m.
Asking Price$5.50m