The company provides short- and long-term vehicle hire services for the commercial sector, operating a diverse fleet of vans, trucks, minibuses and campervans.
Approximately 100 vehicles are currently on long-term hire contracts spanning up to five years. Long-term contracts are inclusive of all servicing and maintenance, with 24/7 support and sign writing services provided.
The company also offers vehicles on a daily rental basis for periods of up to 12 months, receiving a high volume of repeat custom.
The business is being offered for sale to facilitate the shareholder’s retirement.
Offers invited.
Key Highlights
- c200 vehicles available for hire.
- Caters to circa 275 commercial clients across a diverse range of sectors, including distributors, brokers and waste management companies.
- Approximately 51% of clients provide reliable, repeat business on an ongoing basis, with its longest relationship spanning upwards of 30 years.
- Experienced management team in place.
- Operates from two sites in South East England, one of which is fully owned by the company and may be included in the sale on a freehold or leasehold basis.
- Generates additional income from the lease of a portion of its premises to another company.
- Considerable scope for growth through the expansion of its fleet or the development of its service offering.
Financial Highlights
- Turnover of £2.4m projected for YE24, with an adjusted EBITDA of £1.3m.
- Management turnover of £2.3m in YE23, with an adjusted EBITDA of £1.7m.
- Derives circa 50% of its revenue through contracted relationships with 14 clients, accounting for £1m annually, with an average of 28 months remaining on each contract.
- c50% of income derived from contracts
