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Plumbing, Heating, Property Maintenance & Building Company

Ref. GD114

Location : West London

Asking Price : OIRO £350,000

Turnover : £1,100,000

Net Profit : Undeclared

Gross Profit : £290,000

EBITDA : £144,000

Net Asset : £10,000

Premises : Leasehold

Confidentially offered for sale


  • Turner Butler

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Leasehold

Asking price includes:

Typical Turnover circa £1,100,000 p.a.
Typical Operating Profits EBITDA (pre-director drawings) circa £144,000 p.a.
Net Tangible Assets circa £10,000 (inc. stock, plant, equipment)
Accredited Worcester Bosch and Vaillant installers

Well located Leasehold premises
Over 28 years successful trading
Impressive referral rates
Top quality supply partners
Handover and training
Goodwill
Attractive Website

Business Profile

Established in 1988, this significant business specialises in two key areas of trading: Plumbing & Heating installation and Property Maintenance; and provides its services to domestic customers all over West London and the Home Counties. The business has traded since its establishment as a Heating & Plumbing business and acquired a Property Maintenance Company some years ago, as a way of widening the business’ expertise and increasing access to new areas of trading.

This is a family run company which takes enormous pride in its personal service, attention to detail, quality and professionalism, ensuring that the highest standards are maintained throughout the entire duration of a customer’s project; from introduction & enquiry through to completion.

Services are flexibly offered and full design and installation work can be carried out or partial and managed work according to the needs or wants of each individual customer. The business manages approximately 125 large and small jobs in any given week.

Plumbers in London

In line with the Company’s commitment to service quality and professionalism they aim to be among the most trusted Plumbers in London.

Since 1988, the company has built a reputation as one of the leading and most trusted plumbers that London has to offer, with a team that are fully trained, certified and a meticulous attention to detail.

The dedicated and qualified team carries out all aspects of plumbing and heating works from installing tap washers through to full re-plumbing.

Company services include:

Bathrooms

The company offers a free bathroom design service, including advice on the layout, materials, flooring, lighting, plumbing and heating. This is offered on a supply and fit or installation only basis as required.

Boilers

The company offers repairs, services and upgrades and a free, no obligation quotation service on the supply and installation of new energy efficient boilers.

The company is recommended by several boiler manufacturers including Worcester Bosch, Vaillant, Ideal and Glow Worm and as Accredited Installers is able to offer a variety of warranties. The company is a Worcester Bosch platinum accredited installer.

Kitchens

Design and installation service in conjunction with leading Suppliers

Property Maintenance

Whether a customer wants to create more space, decorate a room or give their home a fresh new feel, the company’s property maintenance service covers London, Middlesex and Surrey; helping customers create original ideas, remove or build new partitions and upgrade windows and doors.

This comprehensive service is provided to both clients in residential properties and commercial sites.

Refurbishments

A complete project managed refurbishment service is offered, for all size of properties, houses, flats and offices; undertaking all trades including Carpentry, Electrics, Plastering, Plumbing, Brick Laying, Flooring, Painting, Fencing, Decorating, Electronics and Data. All works completed on time and in budget.

Roofing

All roofing and guttering work is undertaken, from a small repair to a complete new roof; including Flat Roofs, Gable Roofs, Framed Roofs, Dormer Roofs and Hipped Roofs. All operatives are fully insured and qualified.

With its current size, outstanding reputation and constant commitment to quality and excellence, this business offers excellent potential and great opportunities to expand. With excellent accreditations, product range, high levels of customer service and strong referrals, this is an excellent opportunity to acquire a very well established, leading, independent, Plumbing, Heating and Property Maintenance service provider.

Customer Service:

This business has the strongest commitment to customer service and the process for ensuring this begins with those staff receiving enquiries all the way through to project staff; all are suitably qualified. This is backed up through the company’s accreditations and registrations including:

• Gas Safe Register
• Federation of Master Builders
• ISO 9001
• Which Trusted Trader
• Trust Mark Approved

Key Strengths:

The infrastructure is in place including staff, facilities, knowledge, experience and accreditations for the ongoing success of this business. The many strengths of this business include:

• Profitability
• Infrastructure in terms of skills, staff, supply base, policies and accreditations
• Large historical customer base generating high levels of referral business
• One of the best known businesses of its kind in the region
• Reputation-ongoing recommendations from historical customers and trade suppliers
• Growth pattern and future opportunities in the sectors it serves
• Full turnkey solution

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.

The business is financially stable and has enjoyed excellent trading results year on year. This has resulted in a healthy order book and profitability to the owners and this trend is expected to continue in line with growth in the sectors it serves and the company’s reputation going from strength to strength.

Turnover for current year estimated at c£1,100,000 p.a.

Gross Profits circa £290,000 p.a.

Adjusted Operating Profits/EBITDA for last few financial years in excess of circa £144,000 p.a. (pre director drawings).

Net Assets circa £10,000.

The Asking Price:

The Asking Price is OIRO £350,000 is for 100% of the issued capital of the company, Net Assets are estimated to be c£10,000 on completion (calculated on a zero cash-zero debt basis). There will be a £ for £ movement in the final sale price to reflect any movement away from the £10,000 NAV figure.

Advertising and Marketing:

The business enjoys high levels of repeat business, word of mouth recommendations and referrals from happy historical customers. It carries out local advertising together with an active internet marketing driving enquiries to the company’s attractive website.

Growth and Expansion:

The business currently operates on a local scale (10 miles radius) but there is no reason why it cannot further develop its presence in the region and beyond should a new owner so require.

There is always a strong demand from domestic customers for this company’s superior service levels. There are also good opportunities to branch out further into the commercial sector should a new owner so wish. The housing sector is strong at present and large housing developments in the area are under construction and planned for the future. This business is ideally positioned to service this growing market moving forward as it already has the connections, accreditations and approvals in place and could be scaled up to exploit the many opportunities at its disposal.

Premises:

The business is managed from Leasehold premises (owned by the vendors) consisting of offices of circa 2,000 square feet, on one floor and externally, a storage yard adjacent.

The premises are situated on a busy trunk road with easy and ready access to London and the West.

Rent: c £2,750 p.m.
Rates: NIL

The business also benefits from 9 x Sign Written vehicles, 5 owned, 4 leased.

Employees:

The vendor chooses to work in the business on a day to day basis but is not essential to the day to day performance. The business has also put in place an excellent team who are able to manage and run the business with a minimum level of supervision.
Employees include:
3x Full time Office staff
3x Full time Plumbers/Builders
6x Full time contractors

The business appreciates that its staff are real assets. They are fully conversant with the latest products and installation techniques, not to mention Health and Safety and on-site legislation requirements and manage these factors on a day to day basis.

Support and Training:

The vendor is happy to provide a comprehensive handover to ensure a smooth seamless transition.

Reason for Sale:

Retirement.

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