Industry Overview
Energy and net zero: more demand-controlled ventilation, heat recovery and EC fans, and kitchens moving from gas to electric (induction) cooking.
Tighter compliance: stronger fire-safety scrutiny and stricter insurer requirements are increasing demand for certified installers and planned maintenance.
Planning: tougher odour-control requirements in dense urban areas.
Consolidation: building services and facilities management groups are buying specialist subcontractors to add capability and recurring service income.
Business Description
The business is an established, profitable specialist that designs, manufactures and installs commercial kitchen extraction and ventilation systems. It offers a buyer a rare combination: a fully in-house model from drawing board to commissioning, a loyal trade channel that delivers repeat work, and a well-equipped Bristol workshop – available because the owner is retiring.
• Specialist niche with regulatory demand. Every commercial kitchen needs compliant extraction. BWF’s systems are built to the BESA DW/172 standard and, where relevant, DEFRA-based planning requirements, so demand is underpinned by regulation, refurbishment cycles and new-build activity rather than discretionary spend.
• True end-to-end capability. Design, in-house stainless steel fabrication, procurement, installation and ongoing support under one roof. This is more defensible than pure fabrication or pure installation and is exactly the capability larger groups seek to acquire.
• Strong current trading. The first four months of FY27 delivered revenue of £854k and net profit of £119k. Management forecasts full-year revenue of £2.04m and net profit of £210k.
• Repeat, referral-led revenue. Around 80% of revenue comes through long-standing relationships with kitchen project management consolidators, giving a steady flow of work with minimal marketing spend (advertising cost just £1,100 in FY26).
• High volume, diversified workload. Over 250 projects a year across hospitality, education, healthcare and transport, from simple fan changes to £50k+ multi-canopy systems.
• Recently re-invested asset base. £177k of new plant and vehicles added in FY26 alone, so a purchaser inherits a modern, well-equipped workshop rather than a capital expenditure backlog.
• Robust balance sheet. Net assets of £283k at 31 March 2026, growing every year, and cash of £300k broadly covering all bank and finance lease borrowings.
• Clear, low-risk growth levers. Adding a fourth project manager, building planned maintenance contracts and raising the marketing profile all offer upside from a standing start.
• Supported handover. The owner is retiring and will provide a handover period tailored to the purchaser’s needs.
Financial Summary
Consistent profitability. Turnover of £1.8m–£2.1m over four years, with operating profit rising from £122k (FY24) to £226k (FY25) and £208k (FY26) £230k (FY27). Gross margin has improved every year, from 31.0% in FY23 to 35.5% in FY26.
Investment Rationale
Turnkey model– site survey, in-house CAD design, stainless steel fabrication, installation and O&M sign-off
Repeat channel– c.80% of revenue through long-standing relationships with kitchen project management consolidators
Strong project flow– c.150 significant installations a year (average c.£15k) plus maintenance work
Improving margins– gross margin up from 31.7% to 35.5% over three years
Skilled team of 15– 3 project managers, 2 working supervisors, 5 workshop operatives, 4 fitters and part-time finance
Premises– leased 5,000 sq ft office and workshop with c.5 years remaining
Customer Overview
Hospitality c. 50% Cafés, hotels, pubs, restaurants, takeaways, office canteens
Education c. 20% Schools, colleges and universities
Healthcare Significant Care homes and hospitals
Transport & other Balance Airports, motorway services, offices, factories, military sites
Transaction Information
100% share sale on a debt free cash free basis
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