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Specialist company for set design & installation for cookery events and TV productions

Ref. CF053

Location : Southern England

Asking Price : £520,000 + NA

Turnover : £975,000

Net Profit : Undeclared

Gross Profit : £354,000

EBITDA : £166,000

Net Asset : £168,000

Premises : Leasehold

Confidentially offered for sale


  • Turner Butler

Next Step, Please submit Confidentiality Form/NDA Online 

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Business highlights include:

Turnover: c. £975,000 per annum (2019 accounts)
Adjusted EBITA: c. £166,000 (before Directors’ drawings)
Gross profit: c. £354,000
Net Assets c.£168,000
Embedded client relationships
Retirement sale

Over 20 years of successful trading
Excellent repeat customer base
Comprehensive stock of specialist equipment
Knowledgeable, experienced and motivated employees
Extensive premises with ample storage
New lease available
Goodwill

Business Profile

This business was set up by the vendors over 20 years ago and has grown in that time to become well established and profitable. The business specialises in the promotion, management and logistics of cooking events, featuring some of the best known TV celebrity chefs in the UK.

All of the necessary equipment including vehicles, staging, facilities and AV are safely stored in large temperature controlled units and managed by the use of a comprehensive inventory management system that accounts for all articles of equipment and is especially crucial during the busiest periods of the year.

The business has also invested in the design and manufacture of its own seating and staging areas for events, which can always be amended as time passes and remain on-trend for futureevents. This is accomplished using the business’ own workshop, which is located on one of the two sites that the business trades from.

Events are staged all over the UK and this business has come to be relied upon by TV production professionals for its efficiency and professionalism.

The services are backed by a roster of highly reliable employees, who are well motivated and back-up all of the reliability and trust claims that the Vendor relies upon when dealing with clients and their time-critical performances.

The business is very sucessful and highlights include:

• Loyal long term clients
• The business has been around for over 20 years and is a solid repeatable business opportunity
• The business has untapped potential and is highly scalable
• Competitive pricing
• Solutions to complex requirements
• Very strong referral rates among clients

The business is managed by the Vendor who has implemented a very efficient management system for detailing the terms of each day’s and week’s jobs to staff. Staff and contractors are fully conversant with the business’ techniques and methodology and are more than capable of enabling a new owner to successfully maintain continuity of trading.

Equipment:

The business has a comprehensive stock of equipment and facilities; a full list is available by request.

Customer Service:

The vendor has implemented a successful & highly professional system for managing clients and jobs. This is evident in the very high levels of repeat business the company enjoys and the fact it does not need to advertise.

Key Strengths:

The business has many strengths including

• Enviable reputation in the sector that it serves
• Embedded customer base
• Exceptional levels of service
• Highly reliable staff
• The business is unreliant upon the Vendor
• Equipment stock is comprehensive

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.

Turnover: c. £975,000 per annum (2019 accounts)
Adjusted EBIT: c. £166,000 (before Directors’ drawings)
Gross profit: c. £354,000
Net Assets c.£168,000

Asking Price:

The Asking Price of  £520,000 + net assets is for 100% of the issued capital of the company, assuming Net Assets of circa £168,000 on completion (calculated on a zero cash-zero debt basis). The final selling price will have a £1 for £1 adjustment for any rise or fall in this benchmark Net Asset figure of £168,000 at completion.

Growth and Expansion:

The business has enjoyed steady trading over its lifetime and this is expected to continue in light of its growing and loyal customer base. The vendor believes that an opportunity to grow by providing to the pop-up restaurant sector exists and also believes that this business would be a perfect platform from which to grow by other acquisitions within the supply chain.

Premises:

The rural office is adjacent to one of the storage areas, vehicle yard and workshop with one other storage facility nearby. Rent and rates are currently £35,000 per annum and we are advised that a new lease would be available by negotiation.

Business Hours:

Monday – Friday: 09:00-18:00 (Projects permitting)

Employees:

The vendor is supported by:

2x Self-employed, full time sub-contractors
18x Self employed, Rigging & technical managers
1x Event co-ordinator/PA/Book-keeper

All staff are highly experienced and a real asset of the business.

Support and Training:

The current owner would be happy to provide full training and support at handover.

Reason for Sale:

The vendor wishes to retire.

Next steps:

If you are interested in receiving further information, please sign and return the attached Confidentiality Agreement. In returning the Agreement we would be grateful if you could provide us with details of your interest in this opportunity along with your funding position.

All enquiries or requests for additional information should be submitted or directed to Turner Butler (e-mail:sales@turnerbutler.co.uk), telephone Head Office: 01895 256000.

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

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 01895 25 6000 Facsimile 01895 678532
info@turnerbutler.co.uk
www.turnerbutler.co.uk