Overview
Description
Project Covellite retails a comprehensive range of tools and associated products, utilising strong supplier relationships in place with brands such as Makita, Bosch and DeWalt.
Its ranges include, but are not limited to, power and gardening tools, PPE, hand tools, fixings, adhesives, chemicals, metalwork and ironmongery.
The business has developed its own brand of workwear, with this presenting considerable scope for further development through wholesaling.
Our clients are now offering the company for sale to facilitate their eventual retirement plans; they are interested in remaining operational, post-sale. Offers invited.
Key Highlights
– Retails to private individuals, tradespeople and DIY enthusiasts, as well as sectors such as local authorities, utilities, housing associations and boatbuilding.
– Has established numerous long-standing relationships with its core customers, some of which span over 14 years.
– Wealth of in-house expertise in place, with a second-tier management team already operating effectively without the shareholders’ input.
– Operates from leasehold and freehold premises, the latter of which may be acquired subject to separate negotiations.
– Significant scope for growth through recruitment, the opening of trade counters in strategic locations, and the implementation of other marketing activities.
– Primed to benefit from ongoing developments within the online tool retail and home improvement store industries.
Financial Highlights
– Generated a YE23 turnover of £4.6m.
– EBITDA of £628k achieved in the same year.
– Gross profit has increased year-on-year.
– Shareholder funds demonstrating annual growth, rising by 42% between YE21 and YE23.
– Approximately 87% of the business’s sales are derived from its trade counter and e-commerce platforms.
– 60% of customers are located across the UK.
– The majority of customers provide reliable, repeat business.
– Benefits from rebate schemes with blue-chip brands and buying groups, generating supplementary income when sales targets are met.
Is this business relocatable:
Is stock included:
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