The company is a supplier of specialist vending machines designed for the farming industry. The machines incorporate contactless payments, allowing farmers to operate automated farm shops selling milk, dairy and other produce without associated overheads.
In addition to specialist machines, the company offers a range of ambient, refrigerated and frozen vending machines or storage lockers, which can be stocked with a variety of products, as well as coffee, smoothie and water dispensers.
Additional revenue is generated from the sale of associated products; rental agreements in place for various machines; maintenance and support services; and commission from contactless payments.
The shareholder is offering the business for sale to facilitate their retirement. Offers invited.
Key Highlights
- Exclusive UK distribution agreements in place with the manufacturers of its machinery, allowing it to benefit from an excellent share of the market.
- In-house manufacturing capabilities that have led the company to launch a series of additional machines.
- Caters to 150 customers at present. The majority of revenue is generated by the farming industry, with additional sales deriving from community shops, veterinary colleges and from the commercial sector.
- Approximately 80% of customers provide regular repeat business with some relationships spanning five years.
- Customers are predominantly based in the UK, with additional enquiries from Canada and the USA.
Operates from leasehold premises.
Financial Highlights
- Turnover of £674k achieved in YE23.
- Management accounts of £980k for YE24, with an adjusted EBITDA of £61k.
- 40% of revenue is driven by dependable or contracted business, including the sale of consumables and income from rented machines.
- Benefits from a steady number of enquiries on a monthly basis, with orders of £50k expected to be confirmed presently and £250k of outstanding quotes awaiting an outcome.
