Specialist Glazing Systems for Historic Buildings Supplier Company For Sale

Reference Number: HDM339

Location: North England

Turnover: £557K

Status: Offers Invited

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Business Summary

  • A rare opportunity to acquire a well-established, highly profitable and reputable supplier of specialist glass systems for iconic and historic buildings.
  • This well-managed business has a clearly defined market, minimal competition and significant potential for growth.
  • Currently based in the North of England, the company is being sold without staff or property, and can therefore be easily relocated.
  • The company was founded in 2007 when the vendor gained exclusive UK rights for the supply of market-leading glazing systems for the restoration of period buildings.
  • All products have an exceptional track record – approximately 100,000 units have been installed in the UK without a single claim for failure.
  • All products are manufactured according to the quality standard set out in BS EN 1279, to ensure durability and endurance.
  • With a high-profile national and international client base, the company has experienced a steady year-on-year increase in turnover which, for the year ending March 2015, was £557,000 (up 146% from previous year), with an adjusted EBITDA of £189,400 (34%).
  • The company is already recognised as the go-to supplier for high-end, high-quality projects for clients including royal palaces, Oxbridge colleges, historic country estates, period homes and attractions.
  • The conversion rate from quote to order is approximately 35-40% and order values can be in excess of £100k.
  • Since 2014, a second supplier offering simpler, high-quality products has allowed the business to be successfully competitive in the slightly lower end of the market.
  • The product is well known to architects and specifiers, including large construction firms, who represent their main routes to market.
  • The purchase of the business would be a strong acquisition for either:

An upmarket manufacturer of timber windows with an interest in conservation and heritage properties.

A contractor with a significant interest in the refurbishment and restoration of historic buildings.

A construction firm with its own architects’ department which includes the restoration of period properties

or a company with an established (national) sales team which sells other products in the same market sector.

Products and Services

  • A range of ultra slim-line double-glazing units incorporating genuine historic glass including cylinder glass and hand-drawn.
  • A range of insulating single-glazing units for narrower rebates.

Employees

  • The MD (vendor), a part-times sales person and a part time Office Manager (none of whom would transfer in the event of a sale).

Premises

  • Currently based in the centre of a well-known Northern town.
  • The sale does not include premises and could be relocated anywhere.

Reason for sale

  • The vendor is an entrepreneur who recognises that the company now requires a higher level of sales support, and who wishes to devote his attention to another start-up business.

Financial overview

Year ending 31st March201320142015
Sales revenue£361,765£226,110£557,315
Gross profit£141,974£110,094£276,068
Percentage39%49%50%
Adjusted EBITDA£47,715£38,298£189,399
Percentage13%17%34%

 

Hornblower have requested an independent appraisal of the business proposition looking specifically at the prospect of obtaining finance on a going concern basis and from the information provided opinion is that subject to fulfilment of all conditions, required by a Credit Committee, an appropriate level of finance is likely to be made available.

Offers Invited

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