The business was set up by the current owners around 20 years ago, to provide a value for money one-stop solution to those looking to furnish multiple properties, typically in the social sector.
While it supplies to letting agents and landlords in the private sector, its most significant clients are social landlords such as councils and housing associations, which account for c 80% of revenues.
The range of products provided includes typical lounge, dining room and bedroom furniture and also white goods, window coverings and some accessories. Its level of customer service, coupled with well-trained and uniformed staff and competitive pricing, ensures that the business enjoys long-standing relationships with its key clients, who typically commit to multi-year contracts.
The business does not advertise, with word of mouth and recommendation being sufficient to ensure year over year organic growth. Sales for the current year are forecast at £1.75M, delivering an adjusted EBITDA approaching £300k. There remain significant growth opportunities for new owners pursuing a more aggressive marketing approach.
The guide price for 100% of the shares of the Company is £1.25M and the business will be sold with a debt free, cash free Balance Sheet with a net asset value of c £350k.
The acquisition will suit both buyers in the property sector looking to extend their service range or geographic reach, or private individuals / small teams looking to purchase a robust and strongly profitable business with significant further scope for development. The vendors will be flexible over appropriate handover support.
