|Deal completed in:||10 months|
This specialist metal fabrication business has a niche market in the supply of gate and fencing solutions to the south east of England.
The business had a good turnover but minimal profit. The owner wanted to retire but felt responsible for the livelihoods of the company’s five employees. As a result he was keen to sell the business as a going concern and secure the future of the business.
The owner initially placed the business with another broker; after a year, following a couple of failed offers, the owner engaged Hornblower.
What Hornblower did
Hornblower launched the business to market, targeting similar metal fabrication businesses. Within two months we secured serious interest from four potential buyers, resulting in one winning bid that was a simple buy-out deal. The whole process took ten months from start to finish.
For the owner, the deal was a fair financial settlement that allowed him to retire with the confidence that his employees’ jobs were secure.
The buyer acquired an excellent going concern and, by moving it to new premises to reduce overheads, he quickly turned the good turnover into an equally good profit.