The company operates from a well-equipped premises, owned by a 3rd party, and employs more than a dozen staff in addition to the directors, who are happy to remain with the business in the medium term, but without the overall ownership responsibilities for the business.
Revenues have grown consistently and are expected to again exceed £2M in the current year, with a stable gross margin of c 56% and delivering an adjusted EBITDA approaching £0.5M.
The Guide Price sought by the Vendors for 100% of the shares of the Company is £2.0M. The business will be sold on a debt free, cash free basis to include a Net Asset Value at Completion expected to be in excess of £300k. The balance sheet contains surplus cash, which the vendors expect to be added to the consideration on completion.
The company will be an attractive acquisition for both a larger trade buyer looking to extend its range of services, client base, geographical coverage and / or technical capability and also those looking for a stable stand-alone engineering business, with a robust blue chip client base and significant further growth opportunities.
The vendor will provide appropriate handover support and would welcome the the opportunity to remain with the business in some capacity, but without the responsibility of ownership.
