East Sussex Precision Engineers For Sale

Business description

The business was established in 1985 and is now for sale for genuine retirement reasons. The business was founded by two of the three current directors in approximately 1985 and moved to its present site in 1994. The company provides high quality precision engineering to agreed delivery schedules and provides an effective service to the business community both locally and nationally. It operates to the highest standards of the engineering industry. There are long standing relationships with five UK based customers for seismic, pumping and mining equipment, and it also supplies equipment for five/six smaller companies. We understand however that there is capacity for additional machinery. Customer supply drawings and specifications. We understand that there was previously EN ISO 9001:2000 status and although our clients purposely allowed this to expire, we understand that it could easily be reinstated.

The management and staff have adopted the procedures set out in these manuals to provide a quality organisation whose procedures are designed to enable the company to carry out its overall quality policy, practices and objectives.

Annual accounts for the year ended 31 August 2008 confirm that turnover reached £541,029 (excluding VAT) with £397,134 gross profit being achieved. The net profit for the 2008 year reached £207,395 before allowance for various items of overhead expenditure which do not form part of the ongoing cost base of the company. We are advised that the net profit for the 2009 year is expected to equal that of the 2008 year.

The order book of work from customers continues (as at April 2009) to operate at its normal level which usually extends to about 28 days.

Property information

Property:

Leasehold

Lease terms:

A 3 year lease from 4 March 2009 at a basic rent of £22,000 per annum. NB Tenants can expect to renew the lease under the terms of the 1954 Landlord and Tenant Act, upon expiry.

Leasehold rent:

£22,000 per annum

Location:

The business is situated on the fringe of an expanding town, in an area of light industry and retail parks, and within easy travelling distance of the major south coast town of Eastbourne. There is good north-south road access via the A22 which also connects with the M25 motorway network.

Premises details:

Ground Floor about 3,294 sq ft (306 sq m). It is arranged as the main production workshop, both ladies and gentlemen’s staff WC facilities, and handling/packing room. Metal folding door.

First Floor Mezzanine about 558 sq ft (51.8 sq m). Arranged with an open area with staff lockers and management office.

OUTSIDE
Goods delivery access and some car parking.

EQUIPMENT
There is an extensive inventory of machinery which includes the following:

Doosan lynx with driven tooling 42mm capacity and 3mt magazine bar feed.
Doosan puma with 200mmm & 250mm chucks.
Hyundi slm21 with driven tooling 65mm capacity and1.5mt magazine bar feed.
Duggard eagle 200 with 200mmm chuck.
Duggard eagle 100 42mm capacity with 3mt bar feed.
Takisawa tc10 with 150mm chuck.
Tos trens su1500 combi/cnc lathe.
Note all lathes are fitted with swarf conveyors.

Duggard eagle 600 milling machine fitted with tooling measuring.
Dahlih 1020 milling machine fitted with 4th axis through coolant tool measuring &.swarf conveyor.

Triumph 2000 lathe, Tos manual mill, 2 tapping machines with capacity up to m24 and 3 pillar drills, auto band saw, 2 air compressors with dryer.

Comprehensive inspection equipment including Mitutoyo optical comparator and Trimos digital height gauge.

We are advised that most of the CNC machines have been purchased during the last five years (as at April 2009).

The office equipment includes 3 computers using Sage software for finance and invoicing. There is also Alpha Com software for programming and storing.

Size in square feet:

About 3,294 sq ft plus mezzanine about 558 sq ft

Other information

Reasons for selling:

Retirement sale.

Trading hours:

About 40 hours per week plus overtime as required.