Founded over 40 years ago, the business specialises in hydraulic systems, both supplying new parts (hoses, hydraulic fittings, hydraulic oil, bearings) and the repair of machinery and parts. Key sectors include civil engineering and construction, drilling, timber manufacture and plant hire companies and the largest client only accounts for c 10% of sales.
Revenues are typically c £300k, although this has reduced in the current year as the vendor has reduced the operating hours of the business to 3 days per week, to suit both himself and the existing employees. At revenues of £300k, the business delivers profits before owner earnings of c £50k. There are few companies in North Wales offering similar and a new owner, returning the business to a full working week will quickly be able to take revenues back in excess of £300k.
Having run the business for over 12 years, the owner is now looking to retire but is willing to provide a suitable handover.
The guide price for 100% shares of the company is £150K to include a debt free cash free balance sheet with a net asset value expected to be c £80k. The freehold property is also available at market price (c £380k).
