Outstanding opportunity to acquire a heating, ventilation and air-conditioning (HVAC) installation and maintenance company in the London area.
In the 12 months to 31st March 2016, the business has achieved a total revenue of £802k with an adjusted EBITDA of 21% at £167k.
This turnover was up 15% on the previous year and turnover growth has averaged at 15% per annum over the last 4 years.
The 2016/17 forecast turnover is expected to be circa £880k with an adjusted EBITDA of over £180k (21%).
The business serviced over 90 clients in 2015/16. The largest client accounted for 11% of 2015/16 turnover.
The business revenue is generated from on-going maintenance contracts, repairs and projects for contracted clients and new installations for new clients.
Approximately 80% of revenue is generated from clients on maintenance contracts.
The top 11 customers with maintenance contracts account for 53% of revenue in 2015/16 and the maintenance contract element accounts for 25% of that revenue.
The business was started in 1993 and has a strong and enviable track record for year-on-year growth for those 23 years of trading.
It has a very loyal client base with some very established household names included in a premium set of business customers.
The business primarily services commercial buildings and offices, leisure businesses, hotels and schools in London and the Home Counties.
The business is run day-to-day by a very capable team of 5 engineers headed up by a highly experienced General Manager, supported by an administration and finance manager.
The vendor/director will be happy to provide a full hand-over to ensure the successful transfer of clients and contracts.
The sale offers an outstanding opportunity to an existing HVAC, Energy Management or electrical services business wishing to expand its client base and/or geographical coverage.
Products and Services
A provider of heating, ventilation and air-conditioning solutions (HVAC) to commercial properties. Services include design, installation and contracted maintenance and repair.
1 Director with 1 full-time General Manager, 5 full-time engineers and 1 full-time admin and accounts manager.
Office premises in South East London with easy access to central London.
Rent and rates is £9,800 per annum and a one-year lease with 6 months remaining and 3 months’ notice.
Reason for sale
The Vendor/Director wishes to retire however he is committed to a full handover of the business to ensure a smooth transition into new ownership.
Year ending 31st March 2017 (forecast):
Sales Revenue £883,000
Gross profit £308,000 (35%)
Adjusted EBITDA £183,000 (21%)
Adjusted EBITDA is stated having accounted for the vendor’s replacement cost.
Is this business relocatable: Yes
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