This Company is a long-established electrical installation business based in the South of England. It provides a full range of electrical contracting services associated with leisure, commercial and industrial premises and over recent years has developed some valuable sector specialisations. The Company delivers services across the mid and southern counties. It has exceptional expertise and the owner believes now is the right time to transfer the business to new owners capable of taking it to the next stage.
The Company targets projects which play to its strengths - generally those which are more complex and challenging, demanding of high quality and long trouble-free life and often requiring rapid turnaround. Its people are used to working under time pressure, as a result of working against rigid completion dates, frequently involving evening and weekend working.
The Company focuses on mainstream electrical installation work whilst sub-contracting out HV, data, alarms etc. About 50% of projects are new build and the balance refurbishment.
The Company operates from a detached building comprising 2-storey offices to the front with a single storey warehouse/light industrial unit to the rear. The warehouse has been converted to accommodate offices whilst retaining a smaller storage area. In all the usable space is c 2,900 sq ft. The location is on the outskirts of a large city in the area on a small industrial estate.
The Company has a comprehensive range of hand tools and site temporary equipment, together with a fleet of 10 vehicles.
The current year is expected to see sales of £5.3M with an adjusted EBITDA of c £120k. 2018/19 is prudently forecast to produce equivalent numbers of £5.7M and £285k before variations and extras. The forecasts are based on analysis at a project level and include known projects only. The owner believes that there is significant growth potential for the Company, certainly to see turnover rising to above £10M in the medium term.
The Company holds and maintains CHAS and NICEIC accreditations.
The Guide Price for the business is £975k for the 100% of the shares debt free, cash free. A proportion of the consideration will be performance-related. The Balance Sheet NAV is expected to be in excess of £450k. The current owner will provide appropriate handover support but because the business operates autonomously this is expected to be minimal.