Reference Number: HEM069
Location: North West England
Status: Offers invited
– Outstanding opportunity to acquire a highly established and profitable independent used car and servicing company, based in the North West of England.
– The company has traded on the same high profile roadside premises since 1990.
– The business has demonstrated consistent performance in recent years and even throughout the recent economic downturn.
– There is a consistent mix of used car sales (c.85%) and servicing (c.15%) with servicing contributing approximately as much profit as car sales as well as promoting customer loyalty through maintaining an on-going relationship.
– The business is currently enjoying a period of significant growth with a projected 10% increase in revenues to the end of its financial year in July 2014 and a projected 44% increase in net operating profit for the same period.
– The majority of the 16 staff (excluding the owners) have been with the business for longer than 10 years and the business is led by the Operations Director who has been with the company for almost 25 years.
– There is no day to day dependency on the current owner whose recent part time input has been limited purely to strategic matters.
– The company has invested well in plant and equipment to enable it to maintain high standard of servicing and vehicle care.
– The business is projecting revenues to the end of July 2014 of £3.7m, Operating Profit of £175,715 and adjusted EBITDA of £234,439
– The business operates from a 0.7 acre site with a 220ft frontage and the Vendor owns the freehold of the premises which is mortgage free.
Reason for sale
– The reason for the sale is that the Vendor wishes to retire.
|YE: 31st July||2012||2013||2014 (Proj)|