Established in 1989, it manufactures custom Rigid Inflatable Boats with Lengths from 4.5 to 10.0 metres. Four ranges of RIBs are available with different hull-forms to suit the performance requirements of different leisure and workboat users.
The business has been operated as a life-style business and has built only c 30 RIBs to date (plus, historically, a number of tenders and rowing boats). However, after a lot of work, the design of the RIBs and the moulds are now established and proven. There is plenty of scope to increase volumes to satisfy what is an increasing demand for these types of boat in the market.
The Company owns moulds which the vendor values at £150k. The other assets of the business (excluding boats) are valued at c £6k.
In addition to the owners, who work part-time in the business, there are 3 part time employees. Students are recruited to assist in the high season.
The business currently operates out of leased premises in North Cornwall comprising workshops extending to c 165 sq m and nearly 10,000 sq m of inside and outside storage space. It shares this space with a Boat Servicing and Storage business which is also for sale and can be found under the heading ‘Boat Servicing and Storage Company in Cornwall for Sale’. The boat building business could easily be relocated to suit the new owner.
The business, which is a partnership, uses a cash-accounting basis. In the most recent financial year, Boat Building turnover was c £61k with an Operating Profit of c £10k.
The Guide Price for the business is £150k for the goodwill and boat moulds. Boats and other assets are available as required by the purchaser and by negotiation.