Reference Number: HEM049
Status: Offers invited
– A highly profitable and well established provider of civil engineering, site excavation, construction haulage, recycling & landfill management and land remediation services based in the North of England.
– The company provides its services to all types of large scale construction projects from housing developments to major civil engineering works.
– Company turnover in the financial year to 30th June 2013 was c.£7.3m with EBITDA of £1.1m. Turnover to June 2014 was c.£8.2m.
– The business is highly cash generative and has subsequently used its reserves to acquire an extensive range of property assets. These assets give the company significant tactical advantage in supporting large scale construction projects across their geographic area.
– There is flexibility in terms of how the business is sold, either as a share sale with the full range of property assets or as a sale of selected assets and goodwill with the vendors being prepared to retain any of the properties if required.
– The business as a whole has an extremely strong balance sheet with Net Assets of c.£14m and has no debt.
– The company owns one of the largest and most modern construction & excavation vehicle fleets in the UK. All the vehicles are purchased from new and are owned outright without finance.
– The freehold property portfolio consists of 4 recycling yards, 3 quarries and a series of sites which are for office and multi-purpose use. The combined properties also provide for landfill space of 4.5m cubic metres.
– The market value of the property portfolio is in excess of £20m but as above the vendors are willing to sell only part of this portfolio or retain it.
– The company services an impressive range of key construction customers with no concentration issues and no single customer accounting for more than 10% of revenue in 2013.
– The company consistently wins new projects based on their long standing reputation combined with competitive pricing afforded by their reduced cost of logistics.
– The business has a team of over 80 staff led by a strong management team.
– Established for more than 40 years, the business has an excellent reputation and has been involved as a principal contractor, package contractor of sub-contractor to some of the highest profile construction projects in the North of England.
– The company operates from a new, high quality modern office base in the North of England on a site of just over 4 acres in the North of England.
– The company is family owned and one of three partners wishes to fully retire which is the reason for sale. Any handover would be fully supported and the other remaining partners are susceptible to staying with the business post sale if this was to the buyers advantage.
|YE: 30 June||2012||2013||2014|