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PROPERTY MAINTENANCE COMPANY SPECIALISING IN DISABLED SECTOR for sale in London, UK

London, UNITED KINGDOM - UK (UK)

Asking Price: Gross: Cash Flow:
£ 275,000 Undisclosed Undisclosed

Business Summary:
Location: North LondonAsking price: £275,000TURNOVER: c£760,000 in 2020GROSS PROFIT: c£337,000 in 2020EBITDA: c£170,000 in 2020 before owners’ drawingsCURRENT EBITDA: £12,000 PER MONTHNET ASSETS £zeroKey Considerations• Highly reputable Building Services company in the South of England• Fixed term contracts with Social Housing Associations• Limited competition in UK for Disabled facilities• Widely known for prompt and caring customer service• Skilled, experienced and well-trained staff• Quality and immediacy of communications• High levels of customer satisfaction and loyalty• Annual turnover in 2020 was c£760,000 (Covid affected in 2021)• Excellent margins• Multiple accreditations and well equipped to meet stringent legislation• Excellent springboard for future growth including geographic expansionBusiness Profile The opportunity exists to acquire by way of a share purchase all of the issued capital in this property maintenance and building services company (“the Business”)In London and the south east, the Business has become one of the most successful and respected building services companies for its customers and clients, many of which have been customers since the first days of trading. It operates in the commercial and industrial services sectors including Housing Associations and Construction Companies. Alongside the more typical construction & maintenance activities such as electrical, mechanical or plumbing requirements, extensions, conversions etc, the Business has specialised in the installation or refurbishment of specialist Disabled toilet and Bathroom facilities. In addition to this specialism, the Business has developed a long term relationship with a blue chip UK company and has become such an essential part of the services and maintenance of its properties. The Business is a trusted building services company and is considered a UK leader in the Disabled facilities sector. It has built its name on superior customer service, highly skilled staff, top quality equipment, and unwavering reliability, and all with little marketing or direct sales.The Business is well established, prudently managed and with an enviable client & customer list. It is a leading UK specialist that is directly connected to UK legislation and commercial building guidelines in the provision of Disabled Facilities. It is extremely well placed to benefit from new owners who wish to build on this credibility and expand the Business’ activities both geographically and in the scale of services.Until Covid hit, it was operating under a number of lucrative contracts with Housing Associations and Councils. Those contracts were suspended and are only now starting to re-open. The business is poised to emulate previous years’ turnover but the vendor has decided that he wants to leave the industry. ContractsThe company has contracts with:• Blue chip Housing Association housing to do some £1million per annum worth of work) when the present lockdown situation changes; • Work with a South London Council for adaptations on tender basis • Work with an East of England Council for adaptations on a tender basis • Work with Disabled Housing Association disrepair works if needed and clearances • Work with London Housing Association in its 3rd year with 2 years remaining with potential to extend for another 5 years (total 10 years) could push for more work (routine work approx. 14/15k per month inclusive vat) • On the panel to work with Youth Association for bespoke larger works with significant scope to increase works. All relationships have significant scope to increase works. The business has the ability to easily achieve £2m plus turnover within a couple of years and £5m within five years Financial Information:In 2020 the turnover was over £700,000 and the EBITDA before drawings were some £170,000. However the Covid lockdown caused severe disruption to the Company’s contracted revenue streams and the business is only now starting to get back on its feet. However as a result of the re-opening of the contracts, current trading figures are producing an EBITDA before drawings of c£12,000 per month.The asking price is predicated on there being no cash and no debt at completion. Any negative asset value at completion will therefore reduce the sale price on a £ for £ basis.The business is being offered for sale on a going concern basis: all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler. Summary Results£s 2020 2019Turnover 760,979 521,363Cost of Sales 444,330 161,341Gross Profit 316,649 161,341 EBIDTA* before Directors' costs** c170,000 150,000Asking PriceThe Vendors are seeking offers for 100% of the issued capital of the company in the region of £275,000 assuming net assets of Zero and no cash and no debt. There will be a £ for £ adjustment to the final sale price to reflect any movement away from the zero net asset position.

 

   
Seller Reference Number: CR213
BusinessMart.com Listing Number: 270366
 

 

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For more info contact:

Andrew Hudson

Turner Butler
01895 25 6000

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