Business For Sale

Family Run, General Construction Company

Ref: GF051

Location: North Cornwall, England

Asking Price: £150,000

Annual Turnover: £764,000

Annual Net Profit: Not Set

Gross Profit: £130,000

EBITDA: £80,000

Premises Type: Relocatable

Business Description

Business Profile

This busy and profitable family-run construction company was founded by the vendor in 1989 and has been a Limited Company since 2006; it operates within a circa 35 mile radius of the company address. The vendor began in the industry as a bricklayer and has since built a stable trusted construction company that manages large and small projects professionally and without fuss. The company provides a comprehensive range of construction works including:

• Renovations
• Small and Large Extensions
• Loft Conversions
• Home Maintenance
• New Build
• Garage Conversions
• Landscaping

The company is very responsive to the needs of its clients and in return enjoys very high levels of repeat business and referrals.

The company has established a large network of reputable and suitably qualified sub contract labour ers allowing it to repsond to its customers on a project by project basis. It’s ability to respond quickly and the fact that it can handle very high volumes of work gives this business an edge in this lucrative but competitive marketplace.

The company has grown significantly year on year and has continued to perform well through difficult trading times for the market in general

The company is a member of the NHBC and has an outstanding reputation in the area. It benefits from a very strong referral network of satisfied clients, happy to recommission the company for new works and to recommend them to others. This trend is expected to continue in the hands of new owners, since site employees are responsible for much of the client management and goodwill on any project. In addition to this the company will also undertake smaller works, be they private or architect led. The business enjoys a very strong order book and work in progress that ensures ongoing revenues for the business, which currently stands at a whole year’s current trading.

Equipment:

The company utilises Sage software to run the operation and also has a level of plant, tools and equipment as you would expect from an operation of this size, including:

Vehicles

4x Tipper vans: 3x Ford Transit 04/60/13 plates and 1x LDV 08 plate
2x medium size vans: Vauxhall Vivaro 06 plate and VW Transporter 04 plate
1x small van: Citroen Berlingo 52 plate

All vans are sign-written.

An Isuzu pick-up truck may or may not be available for inclusion in the sale.

Plant

The workshop has the following machine and plant which is included in the separately available new lease or freehold:
Manitou telehandler
JCB 3cx extra dig
Swivel tip 3 ton dumper
1.5ton twin wheel trailer
1 diesel concrete mixer
4-5 mixers
2-3 generators
Block elevator
Welfare cabin/site office
Collapsible sheds
Plate compactors
Trench rammer
Water pump
Assorted barrows, acrow-props etc.
Combination planer thicknesser/spindle moulder/morticer/rip
Saw-dust extractor
Dewalt cross cut saw
Bandsaw
Benches, cramps, sanders, bench grinders, pillar drill, etc.

There is a panel workshop built suitable for making timber frame buildings, with compressor lines and it all runs independently off of a large stand alone generator all under cover.

Customer Service:

Client satisfaction is taken very seriously since it is the bedrock of the company’s success and the ongoing referral of the company to new clients. Every employee has a hand in maintaining this goodwill, meticulous records are kept by the main administrative office, so if any questions or queries arise they can be dealt with quickly and professionally.

Initial project assessments and quotation proposals have traditionally been conducted by the vendor but in more recent times, these duties have been taken up by a full time project manager.

Key Strengths:

• Profitability
• Reputation - the business enjoys impressive referrals rates and repeat business
• Specialist knowledge
• Business model-low fixed overheads yet scalable and flexible
• Availability of highly skilled labour
• Customer base and customer care
• Speed of response

Key Opportunities:

The business has enjoyed a very successful trading history to date. Its client base is such that the business will continue to achieve such results in the future. However the current owner believes that the business would benefit greatly from some additional investment in its own internal infrastructure to accommodate this growth.

Accreditation to various construction related bodies would certainly enhance the company’s profile further, should a new owner wish to develop the business in this way.

Confidentiality Form / NDA

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Premises

Premises:

The business operates from an office located within the vendor’s home.

There is a circa 3 acre Freehold yard for plant & machinery and materials storage. This site comprises a large open area and a well equipped 2x storey workshop & storage of circa 2,000 square feet. The yard is available under separate negotiation, and is not included in the asking price of the Business.

This business could easily be relocated if need be.

Business Hours:

As required.

Office: 9am -5pm Monday – Friday

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Employees

Employees:

Along with the Vendor, the company also employs 15 full time staff, including:

• Project Manager
• Secretary
• Foremen
• Bricklayers
• Carpenters
• Roofers
• Labourers

Supporting the full time staff are trusted and reliable sub-contractors whom it utilises as and when required.

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Financial Performance

Financial Information:

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.

Taken from year end 31st March 2015 accounts show turnover is circa £764,000 with gross profit of circa £130,000 and adjusted EBITDA circa £80,000 for the year before Director’s Drawings. Net assets are shown to be circa £14,000.

The asking price is for 100% of the issued capital of the company based on net asset position being circa £14,000. (Calculated on a zero cash – zero debt basis)

The business has a good pipeline of future project visibility and a significant current order book of a value equivalent to this recent year’s total trading.

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Potential

Growth and Expansion:

The company has grown year on year since inception and the current pipeline of projects combined with work in progress suggests that this growth is expected to continue in the short to medium term.

The company is stable and robust however to take it through its next period of growth the vendor feels the business would benefit from a new injection of business acumen and further investment in its internal resources to drive this growth.

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Competition

Advertising and Marketing:

The company doesn’t typically use advertising and marketing, however as a goodwill gesture and also as a well known local business, it will sponsor local charity events. Most new business is generated from ongoing client requirements, tender invitations, repeat business and word of mouth recommendations, bearing strong testimony to the business’s excellent reputation.

There is opportunity to expand the business’s profile with a strategic sales and marketing programme should a new owner so require.

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Confidentiality Form / NDA

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Reason For Sale

Reason for Sale:

The vendor believes they have taken the business as far as their own capabilities allow. The business is primed for future growth and would benefit from a new injection of business acumen and infrastructure to support ongoing prosperity.

Looking for finance ?

If you are looking for finance to fund your business purchase then we recommend that you talk with our independent finance broker. Because of his many years working at a senior level for a major high street bank he has had more success with finance applications than anyone else we know. He has helped numerous purchasers of businesses that we are selling, including buyers who have been turned down by their own bank! Call us today on 0800 046 1652 or email us at finance@turnerbutler.co.uk

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Support Training

Support and Training:

The current owners would be happy to provide full training and support at handover. They would also be happy to stay on within the business for an agreed period, subject to negotiation, should a new owner so require.

Confidentiality Form / NDA

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Confidentiality form / Non-disclosure agreement

Turner Butler Confidentiality Agreement

CONFIDENTIALITY UNDERTAKING

‘You’ and ‘your’ means Turner Butler Limited a company registered in England and Wales under company no. 08137440, registered office Woodwater House, Pynes Hill, Exeter, EX2 5WR, trading as Turner Butler and shall be deemed to include any company or firm to which you delegate all or any part of your services for the Clients

‘Clients’ means any person, firm or company who or which has engaged your services including parent companies and subsidiaries and all associates and affiliates of such person firm or company including without limitation any associated company or business and any shareholder in such company or principal or partner in any such business any director member or other officer employee contractor consultant or agent of any such party or a family member of any such party or any other connected person together with the owner of any asset used in or for the benefit of the business operated by the Clients

‘Data Protection Legislation’ all applicable privacy and data protection laws including the General Data Protection Regulation ((EU) 2016/679) and any applicable national implementing laws, regulations and secondary legislation in England and Wales relating to the processing of Personal Data and the privacy of electronic communications, as amended, replaced or updated from time to time, including the Privacy and Electronic Communications Directive (2002/58/EC) and the Privacy and Electronic Communications (EC Directive) Regulations 2003 (SI 2003/2426)

‘We’ ‘us’ and ‘our’ means the undersigned individual and any business or company which the undersigned represents including its parent companies and subsidiaries, or a group of connected individuals, companies or undertakings, together with all associates or affiliates of such persons firms or companies including without limitation any associated company or business and any shareholder in such company or principal member or partner in any such business any director or other officer or employee contractor consultant or agent of any such party or a family member of any such party or any other connected person

‘Confidential Information’ means information (in whatever format and medium and whether written or oral) and every part of it directly or indirectly concerning the business or businesses of your Clients together with any other information which you or your Clients designate or identify as being confidential

1. In consideration of you and/or your Clients disclosing or agreeing to disclose to us Confidential Information, we undertake both to you and separately to your Clients that we shall:

1.1 treat all Confidential Information as being strictly private and confidential and shall maintain its status as such;

1.2 use all Confidential Information solely for the purposes of evaluating the business to which it relates (the ‘Permitted Purpose’) with a view to the acquisition of the issued shares of your Clients or any of the assets of your Clients (the ‘Proposed Transaction’), and not for any other purpose (including but without limitation to procure any commercial advantage over you and/or your Clients);

1.3 provide you with all information, co-operation, facilities and access to enable you and your Clients to perform your and their legal, regulatory and contractual obligations prior to or after the Proposed Transaction and to monitor our observance of this Undertaking;

1.4 not at any time disclose or otherwise make available to any person any of the Confidential Information other than to:

1.4.1 such of our directors/partners/members or other members of senior management whose knowledge of such Confidential Information is essential to achieve the Permitted Purpose;

1.4.2 any professional advisers acting on our behalf in connection with the Permitted Purpose and Proposed Transaction;

1.4.3 any other financial institution from which we may seek finance for or in connection with the Proposed Transaction;

1.4.4 any other person approved in writing in advance by you or your Clients;

1.5 procure that any of the persons referred to in paragraph 1.4 to whom all or any of the Confidential Information is disclosed shall hold it strictly confidential and shall not disclose it to any third party except to those persons as permitted by paragraphs 1. 4.1 to 1.4.4, in which event our obligations to procure the confidentiality of such information shall apply mutatis mutandis in relation to such persons and;

1.6 maintain a list of individuals or entities to whom any Confidential Information is disclosed and make such list available to you upon request;

1.7 except with your or your Clients prior written consent not reproduce the Confidential Information (in any medium in whole or in part) and we shall whenever requested by you or your Clients, return, and procure that there is returned to you, immediately all matter in tangible form which constitutes the Confidential Information, or any part of it, together with all copies (whether supplied to or made by us) and we will destroy and expunge from any storage media (and procure that any persons referred to in paragraph 1.4 to whom Confidential Information has been imparted confirms to you in writing that they have destroyed and expunged from any storage media) any analyses, compilations, studies, reports and other documents or materials supplied to us or prepared by us or on our behalf which reflect or are prepared from any of the Confidential Information;

1.8 not at any time disclose to any third party the fact that negotiations or discussions are taking place or have taken place concerning the Proposed Transaction or any of its terms or conditions;

1.9 promptly advise you of the information, co-operation, facilities and access provided by your Clients to us, the progress of all enquires, the making, acceptance or rejection of any offer to or by your Clients, the outcome of the due diligence and the negotiation process and will disclose to you in writing all documents and information in our possession, power or control relating to the evaluation and acquisition process including the final terms of the Proposed Transaction or any other transaction between us and your Clients;

1.10 within ten working days of completion notify you in writing by recorded delivery (and we shall retain confirmation of postage and delivery) of all of the terms on which the Proposed Transaction or any other transaction between your Clients and us has been concluded;

1.11 not whether by use of the Confidential Information or otherwise make contact or approaches of any kind to the staff, customers or suppliers of your Clients or any governmental or regulatory body nor with any other person connected with your Clients without your or your Clients’ prior knowledge and written consent;

1.12 not from the date hereof until five years from the termination of negotiations (except in the case of completion of the Proposed Transaction between your Clients and us) directly or indirectly seek to entice away from the business of your Clients or employ or engage any employee, officer or contractor of your Clients or otherwise seek to interfere with the business of your Clients

1.13 notify you promptly upon becoming aware of any unauthorised disclosure, copying, use or loss of all or any part of the Confidential Information and we accept that we shall be responsible for any breach of any of the terms of this Undertaking by us or those persons to whom we provide the Confidential Information.

1.14 upon request and at our expense confirm to you by statutory declaration or in writing (at your option) our compliance with the provisions of this Undertaking.

2. We further confirm that:

2.1 we have sufficient funds or access to funds to complete the Proposed Transaction at the price at which it is advertised;

2.2 we are acting in this Proposed Transaction as principal and not as agent or broker for any other person or company and that our interest is in acquiring your Clients business for the purposes of our business and in the case of a share purchase agreement, we confirm that our purchase will consist of all of the issued shares;

2.3 we will not and have not entered into any agreement in reliance upon any representation written or oral made by you or on your behalf;

2.4 you are not responsible for and do not make any representation or warranty, express or implied, with respect to the accuracy or completeness of the Confidential Information or the contents of any other document or data supplied to us in relation to our evaluation of your Clients;

2.5 the delivery to us of any information (including, without limitation, budgets and financial forecasts and projections which may form part of the Confidential Information) does not, and shall not be deemed to, constitute any representation or expression of opinion or warranty by you as to its accuracy or completeness;

2.6 you will not be liable for any loss or damage suffered or incurred by us as a result of the supply by you, your Clients or your Clients advisers and the use by us of any information, including the Confidential Information, (in particular but without limitation) as a result of any errors or inaccuracies in any of the information;

2.7 we shall enter into a separate agreement in the terms of this agreement with your Clients immediately upon being requested to do so;

2.8 none of your or your Clients’ proprietary rights in the Confidential Information or in any of their intellectual property is transferred or licensed to us by virtue of this Undertaking;

2.9 no right or licence is granted to us or our advisers in relation to the Confidential Information except as set out above;

2.10 you as the Data Controller (as defined in the Data Protection Legislation) may hold and process any data and information provided by us and you will have unlimited rights to use such information in any way you choose in connection with the Proposed Transaction, including without limitation, disclosing our data to your Clients who have an interest in the Proposed Transaction and the publication of details of the Proposed Transaction after completion and you may contact us by any means including without limitation mail, SMS text messaging, email, fax or telephone;

2.11 nothing contained in this Undertaking shall compel you to provide us with information relating to your Clients which we request and you shall be entitled at your discretion to decline to supply us with all or any information;

2.12 nothing contained in this Undertaking shall in any way restrict our right to use, disclose or otherwise deal with any of the Confidential Information if and to the extent that at the time it was imparted to us it was in the public domain or it subsequently becomes so available, other than as a result of a breach of this Undertaking by us or by any person referred to in paragraph 1.4;

2.13 if we enter into any transaction with your Clients other than the Proposed Transaction whereby your Clients acquires or agrees or takes an option to acquire any asset or right or an interest or share in any asset or right from us or enters into any other form of venture contract or arrangement with us we shall be responsible for your remuneration in accordance with your terms of business for sellers as at the date of this undertaking (a copy of which will be made available to us upon request);

2.14 we shall indemnify you and keep you indemnified and separately and independently each of your Clients indemnified from and against all and any losses, claims, actions, damages, costs and other liabilities which you or they may suffer or incur arising out of any breach or non-fulfilment of any of our undertakings and representations contained in this Undertaking and all costs and expenses that you or they incur in relation to the enforcement of the terms of this Undertaking;

2.15 we will be responsible and liable for any breach of any of the terms of this Undertaking by any person referred to in paragraph 1.4;

2.16 damages may be a wholly inadequate measure of loss in the event of any breach of the terms of this Undertaking and accordingly agree that in such event you and/or your Clients shall be entitled to seek specific enforcement of these terms (by injunction or otherwise) on such terms as any court with jurisdiction may deem just and proper;

2.17 we have read and accept fully the Disclaimer attached to the Memorandum of Sale that you have prepared for your Clients;

2.18 any failure by you and your Clients at any time to enforce or exercise any of your rights under this Undertaking will not be construed as a waiver of your right to enforce or exercise that right in future or other rights under this Undertaking at any time.

3.This Undertaking shall apply in respect of any and every business or Client which you supply to us as if the same were repeated each time we request Confidential Information in respect of one of your Clients

4.This Undertaking is governed by and shall be construed in accordance with English Law and each party submits to the non-exclusive jurisdiction of the Courts of England and Wales

Please arrange for your Clients to contact us.

Business Interest

Below is the information of the business you are interested in.

Family Run, General Construction Company

Business Reference: GF051

Personal Information

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I acknowledge & accept the above terms of this Confidentiality Undertaking

Turner Butler Disclosure Statement

This statement applies to information relating to any company or other undertaking or business advertised for sale by Turner Butler (a 'Business')

The information supplied by Turner Butler on its website or in any other promotional material ('the Information') is not and is not intended to constitute an offer for sale of the Business or any assets of the Business or of the shares of any company which owns the Business.

For the avoidance of doubt there is no intention to create a legal relationship which will only come into existence when a written contract for sale and purchase of the shares in or the Business has been entered into.

The Information provided is not intended to address your particular requirements. Further the Information does not constitute any form of advice recommendation representation endorsement or arrangement by Turner Butler and is not intended to be relied upon in making (or refraining from making) any specific decisions.

Any agreements transactions or other arrangements made between you and any client of Turner Butler are at your sole risk and responsibility. The prospective sellers of the Business have provided the Information to Turner Butler. The Information has not been verified by Turner Butler.

You must carry out your own due diligence and satisfy yourself as to the accuracy of all matters. In the case of the sale of shares in a Business the Information has been prepared on the basis that the shares will consist of or include more than 50% of the voting shares and that both the seller and the buyer is either a body corporate, a partnership, a single individual or a group of connected individuals so as to fall outside the scope of regulated activities as defined by the Financial Services and Markets Act 2000. If you are considering a transaction which falls within the scope of such regulated activities you cannot do so through Turner Butler.

Appropriate professional, legal and accountancy advice should be obtained before making or refraining to make any decision.

Turner Butler does not accept any responsibility or liability for loss or damage of any nature that may occur by reliance on the Information. Neither Turner Butler nor any of our employees or agents makes any representation as to the completeness or accuracy of the Information nor do we accept any liability for any losses, costs, liabilities or expenses which may arise directly or indirectly from your use of, or reliance on the Information.

This document is governed by and shall be construed in accordance with English Law and any dispute arising in connection with it shall be subject to the non-exclusive jurisdiction of the English courts

Turner Butler

Ickenham House, 2-4 High Road, Ickenham, Middlesex, UB10 8LJ
Telephone 0333 1234562 | Facsimile 01895 678532 | Email info@turnerbutler.co.uk | Website www.turnerbutler.co.uk

Family Run, General Construction Company

Equipment:

Vehicles

Plant

Customer Service:

Key Strengths:

Key Opportunities:

Premises:

Business Hours:

Employees:

Financial Information:

Growth and Expansion:

Advertising and Marketing:

Reason for Sale:

Looking for finance ?

Support and Training:

Business Interest

Family Run, General Construction Company

Personal Information

Company Information

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