Bid Writing & Bid Management Company for sale

Reference Number: HCH044

Location:

Turnover: £295k

Status: Offers invited

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Business overview

–      Outstanding opportunity to acquire a successful Bid Writing and Bid Management business, based in London.

–      Focused on helping businesses win contracts within the Public and Private Sectors including Waste Management, Environmental and Construction industries.

–      The business has delivered consistently strong growth over the past 3 years. The business runs very efficiently and achieves an EBITDA in excess of 57%.

–      Sales revenue has more than doubled every year for the last 3 years.

–      The business has a large established team of associate bid writers who each has many years’ experience working for major buying teams.  They have the highest levels of industry relevant qualifications, including APMP accreditation.

–      The company has a 16,000 strong database of sales directors and MDs which it targets throughout the year and is responsible for the companies continued growth.

–      Established in 2009, the business has developed broad and loyal client base, with 24% of revenue coming from six clients retained on contract.

–      The business will continue to grow in its existing sectors but considerably higher rates of growth would be achieved by further penetration of organisations such as the MoD, the Police and the Alternative Energy and Clean Technology sectors. With the development of further expertise, the NHS also offers considerable potential.

–      The owners have been working part-time due to family commitments and significant potential for expansion exists from a full-time focus on Sales and Marketing.

–      This is an outstanding opportunity for a business services company such as an Accountancy or Legal practice looking to extend their service offering.  It would be of equal interest to an entrepreneur with a Bid Management or Procurement background looking for an established and highly profitable business.

Products and Services

–      The company helps its clients to win public sector contracts through its bid writing and bid management services.  It is a one stop shop for bid and proposal support services.  These include:

Bid Writing

Bid Management

Bid Opportunities Search and Find           

Employees:

–          2 directors (vendors), 6 associate bid writers (freelance), 2 designers (freelance), 1 researcher (freelance)

Premises:

–          The business operates from rented offices in London, W6 but also from the owners’ home offices.

–          Rent: £420 per month.  Leasehold. One month’s notice.

Reason for sale:

–         As the business grows, it will require more of the directors’ time and focus, which due to family commitments the directors are not prepared to give. They therefore feel that now is the time for a larger business services company with the appropriate management structure in place or an entrepreneur with the time and focus required to take over the reins.

Financial overview

Year End: 30th April

2010-11

2011-12

Forecast
2012-13

 

YTD
30-9-12

Sales revenue

£46,016

£132,390

£294,706

 

£116,606

Gross Profit

£29,167

£94,913

£230,663

 

£91,266

Percentage

63%

72%

78%

78%

Expenditure

£78,001

£102,298

£124,416

£52,884

Adjusted EBITDA

-£31,985

£30,092

£170,290

 

£63,723

Percentage

-70%

23%

58%

55%

The adjusted EBITDA is stated having paid the replacement cost of the vendors.

Significant synergy savings of £17.5k are possible through consolidation of administrative and marketing costs. Based on the 2012-13 forecast figures, this would enable the strategic buyer to achieve an EBITDA of £186k.

Offers invited

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