Utilities and Groundworks Contractor for Sale

Reference Number: HGL046

Location: South West England

Turnover: £2,2m

Status: Offers Invited

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Business Summary

  • Opportunity to acquire a long-established, profitable utility contractor, based in the South West of England.
  • A local, family-run business, established in 1985.
  • Services include excavation, sewerage and groundworks contracting for clients both large and small, and more complex projects involving multiple sub-contractors.
  • The client range is diverse; spanning both the private and public sectors including the Government.
  • Projects include establishing the infrastructure of police stations, schools, industrial units, homes and utilities.
  • The company is the Approved Vendor for a large, local utilities company (a client for over 25 years) for projects up to £500,000 and the appointed sub-contractor for new sewerage systems across the region.
  • The two other major clients have been using the company’s services for between 10 and 15 years.
  • The company carries out regular customer satisfaction surveys – last year 95% of clients rated them ‘Excellent’ (80%) or ‘Good’ (15%) in all categories.
  • All contracts come in via recommendations or the company website and demand is exceedingly high.
  • The sale offers an outstanding opportunity for a similar utilities contractor or construction company looking to either expand in the region, or in to the commercial construction sector.

Services

  • Basicgroundwork packages
  • Complexunderpinning & reinforcing work
  • Specialisedformwork & concrete structures
  • Piling, traditional & custom-builtfoundations
  • Buildingretaining walls & support systems
  • Waterproofingfrom leading suppliers
  • Recycling& site clearance
  • Surface water & landdrainage systems
  • Finallandscaping features & patio slab work

Premises

  • A modern, open-plan office space with a separate meeting room and adjoining yard.
  • Rent is c.£2k/month and rates are c. £3k/year.

Employees

  • The vendor/MD plus a full-time General Foreman of 22 years standing who manages the business day-to-day.
  • They are supported by a full-time Office Manager, part-time Secretary and Book-keeper and a part-time, freelance Quantity Surveyor who has been involved for 6 years.
  • The rest of the workforce is made up of specialist sub-contractors regularly employed as required.

Reason for sale

  • Over the past three decades, the vendor has built a very successful business. He now feels it is time to embark on a new venture; exploring other non-competing projects overseas.

Financial overview

Year ending 31st March 2015 2016
Sales revenue £1,816,100 £2,246,882
Gross profit £534,377 £539,035
Percentage 29% 24%
Adjusted EBITDA £380,740 £392,046
Percentage 21% 17%

The Company changed from an LLP to a Limited Company in the 2013/14 financial year.  Accounts for previous years are available on request.

Offers Invited

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