Business Summary:
Location: Cornwall Asking price: £300,000 + net assets Business highlights include: TURNOVER: c£1,100,000 (2023 accounts) GROSS PROFIT: c£188,000 EBITDA: c£148,000 Before Director’s drawings NET ASSETS c£109,000 Order Book & WIP up to six months Key Considerations · Highly reputable company based in Cornwall · Long term relationships with local authorities · 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 · 50 years successful trading Business Profile The opportunity exists to acquire by way of a share purchase all of the issued capital in this successful roofing contractor (“the Business”). In the entire Cornwall region the Business has become one of the most successful and respected roofing contractor companies for its commercial, institutional & domestic customers and clients, many of which have been customers since the earliest days of trading. It operates in the commercial and industrial sectors including Local Councils, Housing Associations, House Builders & Construction Companies and a small amount of domestic customer installations. The Business is a trusted and much relied upon company and 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 but with an attractive and informative website that details well the business’ services and pedigree. The Business is well established, prudently managed and with an enviable client & customer list. It is an approved member of NFRC, Trustmark and NFRRCPS. 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. The Business has shown itself to be robust during some trying economic times and is well placed to take advantage of its reputation for products & service combined with increasing levels of demand. It is felt that the demand for new projects is challenging the resources of the Business and the sale of the Business to new owners with the capacity & managerial capability to cope with the demands of growth would yield much benefit. All relationships have significant scope to increase works. The business has the ability to easily maintain its £1m plus turnover but with new owners it is believed that within a few years this could reach more than £2m with commensurate margins. Key Opportunities: This is an outstanding opportunity to build on the existing products, services and customer base of this leading company. With a strong demand and profitability, combined with a capacity to increase turnover, a new owner contributing fresh ideas, investment and energy levels will have every advantage of building on an excellent platform to take this business to its next level. The business maintains many satisfied customers, who appreciate the company's superior products and skill sets, attention to detail, value for money and service. There are many excellent avenues for growth, especially within the current operations and include greater capacity by investment in plant and extending new business further along the M4 corridor with perhaps new premises. Employees The Business employs 10x roofers who along with the vendor manage day to day business. Employees are well experienced and accustomed to managing projects, which has become a vital part of the overall success of the business. Premises The Business operates from two storage locations with administrative facilities located in the home of the vendor. These locations are all near the A39 and A30 main trunk roads and offers easy access to all the main towns and roadways throughout the region. 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: TURNOVER: c£1,100,000 (2023 accounts) GROSS PROFIT: c£188,000 EBITDA: c£148,000 Before Director’s drawings NET ASSETS c£109,000 The asking price is predicated on there being no cash and no debt at completion. 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 £300,000 assuming net assets of £109,000 on completion. There will be a £ for £ adjustment to the final sale price to reflect any movement away from the £109,000 net asset position.
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