The company is a highly regarded independent plumbing and heating merchant, operating across South England via a number of strategically located trade counters and showrooms, and nationally via its successful e-commerce site.
Having established a significant client base and secured a strong market share within its core operational areas, the company is primed to experience steady growth over the coming years, with its efforts to enhance its offering to meet its clients’ evolving requirements ensuring that it continues to stand apart from its competitors.
The shareholders are now offering the company for sale as part of their retirement plans, whilst ensuring that a structure is in place to support the company on its projected growth trajectory.
Key Highlights
- The company offers an extensive selection of hundreds of products, benefitting from a strong relationship with a leading national buying group, which enables it to secure highly competitive pricing and maintain excellent margins.
- Operates nationally, predominantly working with clients in the repairs, maintenance and improvement (RMI) market.
- Currently works with over 670 active clients and benefits from excellent retention rates, with 90% of clients providing repeat business and several relationships spanning over 20 years.
- Operates from a number of ideally located sites in South England, allowing it to provide rapid support for clients in the region, which has enabled it to secure a significant market share.
- Highly experienced and dependable management and operational teams in place, possessing the skills required to dependably manage and grow the business, post-sale.
Financial Highlights
- Achieved turnover in excess of £21.5 million in YE23, with an adjusted EBITDA of £1.3 million.
- Benefitting from a significant and diverse client base, the company has no reliance on any key clients to generate revenue.
- Maintains consistently strong gross profit margins, averaging 26% across the last five years.
- The growth of the company’s e-commerce site in recent years has made a significant impact on revenue, with online sales now accounting for 36.56% of turnover.
