Civil & Structural Engineering Company SOLD

Reference Number: HCM249

Location:

Turnover: £1.6m

Status: SOLD

Business overview

–     An outstanding opportunity to acquire a highly successful civil & structural consulting engineering company with an impressive record of achievement in Australia and West Africa.

–      The company has completed hundreds of commissions in the oil and gas industry and provides a range of high quality engineering services for both greenfield and brownfield projects.

–      The company has a wealth of design and construction experience provided by a highly qualified team of civil & structural engineers, designers and steelwork detailers.

–      The company has an outstanding reputation for delivering highly challenging and complex projects and regularly designs infrastructure for:

  • oil and gas processing plants and pipelines
  • offshore platforms
  • mines and mineral processing plants
  • industrial facilities

–      The practice uses advanced 3D BIM software to accurately visualise and evaluate options and present solutions. This model is used throughout the design from concept to fabrication detailing.

–      In the last financial year to June 2012 the year on year revenue grew in real terms* by 44.6%. Projected revenue for 2012-13 is $2.46m which will be a year on year growth of 25%.

–      The Pre-tax Profits in 2012 were 17% of turnover with adjusted EBITDA for the year of $469,362 which is 24%. Projected Pre-tax profits for 2012-13 are $438k (18%) which converts to an adjusted EBITDA of $550k (22%).

–        Primarily operating in the oil and gas sectors, the company has a good spread of clients including a mixture of blue chip oil and gas majors, mining companies, large design and construct contractors, fabricators and consulting engineers.

–        The company has a full order book particularly due to its position of trust with several important clients through long association and a reputation for reliable service. These factors are also resulting in an increase in opportunities to tender on projects throughout Australia.

–        The business has thus far been built on reputation and referral without the benefit of a structured marketing campaign.

–        The business operates from a well situated and well equipped office in North Western Australia.

Products and Services

The company provides a range of engineering services including:

  • Front-end engineering
  • Project Management
  • Civil Engineering
  • Structural Engineering
  • Construction Engineering
  • Structural Detailing
  • Offshore Engineering
  • Subsea Engineering

Employees:

– 1 director (sole shareholder), 8 staff including experienced engineers, modellers, draftspersons and detailers. There are three Masters Degrees within the company

Premises:

– Leasehold Premises for up to 16 staff in NW Australia

Reason for sale:

– To enable the owner to retire no later than March 2014.

Financial overview

Year ending 30th June

2010-11

 

2011-12

 

 

2012-13 (Projected)

Sales revenue          (Aus $)

$2,331,450

$1,970,079*

$2,463,043

Adjusted EBITDA

$432,418

$469,362

 

$549,906

Percentage

19%

24%

 

22%

 

*In  2010-11 there was a large project with sales revenue of c.£1m which was fulfilled entirely by contractors. In 2011-12 after this project had completed the revenue continued to grow and the underlying sales growth net of this project between 2011 and 2012 was 44.6%.

SOLD

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