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Finance And Services:

Sold. Electrical Control Panels Manufacturer Ul Certification Compliant

LISTING DETAILS
Firms For Sale ID:
34903
Vendor reference:
GK222
Vendor website:
     
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BUSINESS DETAILS
Location:
Primary sector:
Secondary sector:
Asking price:
£550,000  
Turnover / revenue:
£1,000,000
Net profit / cashflow:
Undisclosed
Years established:
37
Trading hours:
The business operates a 39 hour week (Monday to Friday) plus overtime, as and when required.
Number of employees:
7
Employees / staffing:
As Managing Director, the vendor works full time in the business, overseeing the daily operation. The business also employs the following full time personnel. 1 Project Engineer/Panel Builder 1 Foreman/Test Engineer 1 Panel Builder/Trainee Test Engineer 4 Panel Builders

OTHER DETAILS
Reason for selling:
The vendor has worked in the industry all his life and is now in a position where he wishes to spend more time with his family and enjoy early retirement. Our client also believes the business has reached the point where it requires a new injection of business acumen and energy to take it through its next period of growth and maximise the many opportunities at its disposal.
Support and training:
The owner is happy to provide full business familiarisation and handover to ensure continuity of trading and a seamless transistion, also being prepared to remain for a further period of time if required, subject to negotiation.
Business is relocatable:
Yes
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
Lease terms:
The business currently operates from leasehold premises. Annual rent is circa GBP 16,250 per annum. Rates and water are circa GBP 6,000 per annum. The business is located on a small industrial estate and comprises of ground floor offices, workshop and dispatch area. Total floor space is circa 2,500 square feet. There is parking for 6 to 7 cars. The business could easily be relocated if required without any disruption to the business.
 
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BUSINESS DESCRIPTION
Electrical Control Panels Manufacturer
UL Certification Compliant
Ref. GK222
Location : West Yorkshire
Asking Price : O.I.RO GBP 550,000 plus Net Assets
Established over 37 years ago, this highly respected and professional company provides a comprehensive service to a diverse range of customers, building and manufacturing electrical control panels for use in a variety of different process environments.
This company provides a complete build solution to clients on a regional and in some cases national scale, having vast experience in all aspects of control panel building. Systems are supplied that are suitable for most operating environments, taking into account climate conditions, cable entries, building access and control philosophy, so much so that many of the panels it builds are subsequently deployed throughout the world. The company can provide UL certificated panels which gives it huge credibility and a real edge in the marketplace.
The company prides itself on the quality of its products, engineering knowledge and consistent delivery of services. This is illustrated by the fact that it historically has been approved supplier to a large number of blue chip customers who have worked with the business for many years. The business has now focused on a small concentration of regular clients (through choice) who provide consistent levels of business in terms of new installations. There is scope to further develop the historical clients should a new owner so wish.
Typical applications have included control panels for industrial washing machines, liquid filling machines, industrial ovens, incineration, bulk handling, grain dryers, autoclave systems, packaging machines and canmaking machines.
The company services customers who operate locally, nationally and overseas yet are generally based within a 30 mile radius of its current location, tending to deal with the machine builders and providing the electrical control panels. Typical panels can be small wall mounted enclosures right through to floor standing wardrobe type enclosure suites up to 4 metres in length and 2 metres high. The company also manufactures small pneumatic control panels.

Expansion Potential
The business has a regular revenue stream and a historical customer base ripe for future development. Further investment and expansion would offer potential for the business to expand its operation further afield. The business does very little in the way of proactive sales.

The market for this companys services is large and strong and the company has enjoyed healthy growth over recent years. This trend is expected to continue in line with new technological developments and increased automation, not to mention ongoing health and safety legislation.

The company currently does not carry out installation, commissioning and maintenance of the control panels it manufactures. This could represent a significant areas of growth to a new owner should they wish to develop this side of the business.

The company also undertakes no sales and marketing activity and does not have a website so this area of the business could certainly be developed to fuel future expansion and growth.

This business is perfectly positioned to develop these opportunities such is its standing in the market.

Market / Competition / Non-Competition Agreements
The business has never felt the need to advertise, preferring to rely on referrals, repeat business and word of mouth recommendations to generate revenue. As a trusted and respected supplier to many companies over the years the business has a steady stream of invitations to tender.