Business Summary:
Ref No: GF054Location: MiddlesexAsking price: £1,900,000 Plus Net AssetsTURNOVER: c£2,900,000 (2022 accounts)GROSS PROFIT: c£1,200,000 EBITDA: c£644,000 Before Director’s drawingsNET ASSETS c£1,800,000Key Considerations• Highly reputable Building Services company in the South West of England• Long term relationships with Construction Companies, Architects & Specifiers• Domestic, Commercial & Basements• 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• 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 site groundworks, building services company (“the Business”)In the South East of England, the Business has become one of the most successful and respected groundworks building services companies for its customers and clients, many of which have been clients since the earliest days of trading. It operates in the commercial and domestic services sectors though it has a clear trading bias with almost 90% of its work being commercial clients. The Business is a company and after more than 13 years trading is considered a leader in the region. It has built its name on superior customer service, highly skilled staff, top quality project delivery, 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 providing a wide variety of services including:• Groundwork for Self Build Homes• Basements• Schools and Public Buildings• New Housing Estates• SewersIt is felt that the demand for new projects is pushing the capabilities of the owner and the sale of the Business to new owners with the capacity & managerial capability to cope with the demands of growth would benefit.All relationships have significant scope to increase works. The business has the ability to easily maintain it’s almost £3m turnover but with new owners it is believed that within a few years this could reach £5m with commensurate margins.Employees:The Business employs: 3x Full Time administrative & managerial staff 15 x trusted and reliable sub-contractors for building & project workPremises:At present because the office is home based.The business rents a small yard and is utilised little.Reason for Sale:The current owner feels that the demand for new work placed upon the Business highlights the requirement for a new owner with the resources to take full advantage of the opportunity.The current owner would be available in a consultative capacity post completion, if desired.Financial Information:The 2022 accounts show the turnover was circa £2,900,000 and the EBITDA after averaging over the recent three years was circa £644,000 before Director’s drawings.The 2022 accounts show the net asset value (NAV) to be circa £1,800,000 and there will be a £ for £ adjustment to the final sale price to reflect any movement away from this figure.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. Asking Price:The Vendors are seeking offers for 100% of the issued capital of the company in the region of £1,900,000 assuming NAV to be £1,800,000. There will be a £ for £ adjustment to the final sale price to reflect any movement away from the net asset position.
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