business for sale

Concrete Formwork Company

Businesses for Sale

Sale Memorandum

Concrete Formwork Company


Ref.GB035

Location South West

Asking Price £ 975,000

Confidential offered for sale

Asking price includes

Work in progress, material stocks, tools and equipment
2005 sales of circa £1.5 Million per annum
2006 projected sales circa £2.5 million
Established client /customer base
Un patented technical know-how
Sales growing year on year
Excellent opportunity to grow
Complete Turnkey Operation
Relocatable business
Training and handover
Strong profit margins
Superb reputation
Vehicles
Goodwill
Finance available to buy this business subject to status. All regulated business is passed to independent financial advisors who are regulated by the FSA

Business profile:

The present director established this business and it has successfully traded for a period of 30 years enjoying stable growth and consistent profitabilty.
It specialises in the provision of on-site cast formwork and supplies its services to the building industry, operating in the construction of industrial buildings, apartments and private residences.
The core business is to provide reinforced concrete framework for buildings generally up to six floors in height.
Working from plans supplied by structural engineers the business orders pre-bent steelwork from suppliers, which is delivered direct to the site. Formwork and shuttering is constructed prior to the steel being inserted and the liquid concrete poured. This enables the business to produce concrete one-piece floors, columns, lift shafts and staircases.


Location

The business is presently located in the South West but it could easily be moved to a venue of the purchaser’s choice.

Clients

This business has grown because of its ability to provide a high quality on-site service. Its clients vary from small builders to large national companies and it therefore carries out work all over the UK.


Key strengths

Because of the nature of this business it is able to trade successfully without requiring large premises, or significant amounts of capital equipment. All materials needed to complete each contract are delivered direct to site, resulting in a low cost base and therefore strong profit margins.

Key opportunities

The business does not presently advertise its services, and relies purely on word-of-mouth to generate its workload. The addition of a technical sales person with a brief to canvas structural engineers, architects and surveyors would result in a significant increase of business in a relatively short period of time. The only requirement to full-fill this additional volume of business would be to increase the size of the workforce. This could be done on a contract-by-contract basis.
Plant and equipment

The company has five sign written vans, one pick-up, and a 7.5 ton lorry with a hyab crane which it uses to deliver the company’s own scaffolding from site to site.

Market outlook

This is a very strong sector with forward orders exceeding £2,500,000 in value. There is a significant amount of available business in this market sector, and the company has an admirable practice of showing prospective new clients completed projects. Because of the quality of the finished work this invariably results in them receiving a request for them to tender for additional contracts.
Financial profile:
All financial information will be made available under the auspices of Turner Butler.
The financial year ending 2005 has shown a volume turnover of £1,500,000 and the present forward order bank indicates a very strong start to the present financial year. Gross profit is maintained within the region of 30%
Management and staff

The managing director is supported by one contracts manager who carries out the pricing of all tenders. There are 15 full-time employees plus an additional 15 self-employed workmen who are drafted in on a needs must basis. The business also has a full-time scaffolder.
Support and training

A handover period will be available as part of the negotiations to ensure a seamless transition for the new owner
Reason for sale

The managing director has elected to take early retirement and pursue his other commercial interests.
Turner Butler Disclosure Statement:

This statement applies to information relating to any company or other undertaking or business advertised for sale by Turner Butler (a 'Business')

The information supplied by Turner Butler on its website or in any other promotional material ('the Information') is not and is not intended to constitute an offer for sale of the Business or any assets of the Business or of the shares of any company which owns the Business.

For the avoidance of doubt there is no intention to create a legal relationship which will only come into existence when a written contract for sale and purchase of the shares in or the Business has been entered into

The Information provided is not intended to address your particular requirements. Further the Information does not constitute any form of advice recommendation representation endorsement or arrangement by Turner Butler and is not intended to be relied upon in making (or refraining from making) any specific decisions.

Any agreements transactions or other arrangements made between you and any client of Turner Butler are at your sole risk and responsibility. The prospective sellers of the Business have provided the Information to Turner Butler. The Information has not been verified by Turner Butler.

You must carry out your own due diligence and satisfy yourself as to the accuracy of all matters. In the case of the sale of shares in a Business the Information has been prepared on the basis that the shares will consist of or include more than 50% of the voting shares and that both the seller and the buyer is either a body corporate, a partnership, a single individual or a group of connected individuals so as to fall outside the scope of regulated activities as defined by the Financial Services and Markets Act 2000. If you are considering a transaction which falls within the scope of such regulated activities you cannot do so through Turner Butler.

Appropriate professional, legal and accountancy advice should be obtained before making or refraining to make any decision.

Turner Butler does not accept any responsibility or liability for loss or damage of any nature that may occur by reliance on the Information. Neither Turner Butler nor any of our employees or agents makes any representation as to the completeness or accuracy of the Information nor do we accept any liability for any losses, costs, liabilities or expenses which may arise directly or indirectly from your use of, or reliance on the Information.

This document is governed by and shall be construed in accordance with English Law and any dispute arising in connection with it shall be subject to the non-exclusive jurisdiction of the English courts

Turner & Co (GB) Limited registered in England and Wales under company no. 2477988 of registered office Savoy House Savoy Circus London W3 7DA, trading as Turner Butler © Shaun Sweeney October 2006

Next steps

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