Overview
Description
The company designs and manufactures attractive, bespoke kitchens, bathrooms and bedrooms for luxury properties, specialising in high-rise developments in London’s most prestigious areas.
Utilising in-house design and manufacturing teams, who work closely with clients to create bespoke spaces, the company caters to blue-chip property developers, house builders and contractors, all of whom provide repeat business.
The company is being offered for sale to facilitate the long-term retirement plans of the Managing Director.
Offers invited.
Key Highlights
– Projects range from small housing estates to luxury 1,000-apartment tower blocks in central London.
– Caters to 12 clients, some of whom have provided regular business for upwards of 10 years.
– Circa 70% of work is based in London, with the remainder located across Southern England.
– Excellent scope for future growth, which could be achieved through the recruitment of sales staff.
– Experienced second-tier management team is in place to facilitate the Managing Director’s departure.
– Utilises leasehold premises in Southern England, ideally located to provide access to the M25 and London.
Financial Highlights
– Turnover of £8.7m for YE22, with an adjusted EBITDA of £1.2m.
– Considerable growth between YE18 and YE20, with the company now showing strong recovery following the effect of Covid-19 on the construction industry.
– Extensive pipeline in place, with sales expected to reach £10m in YE23 and £12m in YE24 and . This includes several projects that are set to generate in excess of £4m.
– Gross profit margin for the period YE19 to YE22 has averaged at 28%.
– Robust balance sheet, with Shareholder funds in excess of £2m for YE21.
– Pipeline of £10m for YE23
– 60% of revenue generated by existing clients
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