|Deal completed in:||9 months|
This Plant Maintenance, Civil Engineering and Fabrication Company has developed niche market in the area of aggregate and civil engineering plant repair, maintenance and installation. It is highly profitable and growing and its top clients are all blue-chip companies in the aggregates and civil engineering markets.
The company was owned and run by a husband and wife team worked full time in the business. Now in their forties with grown up children and so fewer dependents, they wanted to exit the business in order to have time to concentrate on other property investments and to travel.
Before coming to Hornblower, the owners had tried to sell the business through another broker for over a year but without success.
What Hornblower did
Whilst the business was extremely profitable and indeed growing by about 25% per year, it suffered from being over diversified in what it offered its customers. We identified this early on and presented the business as a full service supplier to the aggregates and civil engineering sectors, but with clear revenue streams for the buyers to assess.
As usual, we researched the market for buyers for whom our client’s business would represent a strategic benefit, though on this occasion the buyer came from our own database of buyers actively looking to buy a fabrication / engineering business.
We sold the business for full market value and the process took 8 months from start to completion.
The buyer owns various engineering business in this sector and was immediately able to benefit from synergies as well as have our clients’ company supply products and maintenance services to the companies within their group.
After a relatively short hand over period of 3 months, the owners are free to follow their passion for travel and property and have realised the funds to do so from the sale of their business.