Deal done:
Sale of Civil & Structural Engineering Consultancy in Perth, Australia

Turnover:  AUD 2.5m
Deal completed in:      6 months

The company

Well established with an experienced team of engineers, the company has an outstanding reputation for delivering highly challenging and complex projects and regularly designs infrastructure for oil and gas processing plants and pipelines, offshore platforms, mines and mineral processing plants and industrial facilities. The business is growing and very profitable.

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The situation

The owner made the decision to sell in order to exit the business whilst maintaining job security for his staff, many of whom had worked with him for a long time.

The owner was sensitive to any marketing in the Australian market due to potential client sensitivity and loss of goodwill. He therefore chose to appoint UK based business broker, Hornblower Business Brokers, to market his firm discreetly in the international community.

What Hornblower did

All initial marketing was through discreet targeted approaches and immediate NDA’s for any potentially interested parties. We approached potential buyers in the UK, mainland Europe, US and Canada, as well as in Australia. This resulted in an extremely good level of enquiry with a number of good offers for our client to choose from. In the end the buyer with the best offer, both in terms of value and future for the retiring owner’s staff, was another Australian company, but it was certainly worthwhile opening up the market internationally.

Having left no stone unturned, we and our client were confident of having achieved optimum value

WIN WIN

The buyer a large Sydney based architectural and engineering firm has gained a presence in West Australia as well as a well-run profitable business. They are now able to capitalise on their enhanced position in the market place, to take on larger scale projects, particularly with the number profile construction projects planned for Perth in the coming years.

The owner is able to exit the business after a short handover period having realised a good and fair price for the business which was about 25% above his original expectations.

SOLD – April 2013

Hornblower Business Brokers – Specialists in selling engineering businesses