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BUSINESS REFERENCE : GK103 / RightBiz GK103-HERTFORDSHIRE-£325,000 -ELECTRICAL CONTRACTORSPROVIDING A COMPREHENSIVE ELECTRICAL ENGINEERING AND CONTRACTING SERVICE | | | | | | Electrical Contractors Providing a comprehensive electrical engineering and contracting service Confidentially offered for sale Ref No: GK103 Location: Hertfordshire Asking price £325,000 | | | BUSINESS LOCATION: | Undisclosed Hertfordshire UNITED KINGDOM | | BUSINESS SECTOR: | Manufacturing | | TRADE TYPE: | Electrical Manufacturing | | SALE: | Agent Sale | FREEHOLD: | £325000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile
This long established and successful electrical engineering and contracting business was founded by the current owners in 1986. Since that time it has expanded to offer services throughout the South East including Central London. The business has experience in almost every aspect of electrical engineering, working extensively with main contractors undertaking works that vary from minor, planned maintenance and repairs to complete design and installation projects for major civil engineering and building contractors.
The scope of works includes electrical design and installations, planned maintenance, electrical testing, inspection and electrical surveying and the provision of technical reports. Whilst the business's expertise lies mainly with the commercial and industrial sectors it also undertakes large residential projects.
Apart from two administrative people, one of whom is the company secretary/accountant, all staff are fully trained, very experienced, highly skilled and qualified electricians or electrical trainees, some having been with the business for a number of years. A number of sub contractors are also regularly utilised, when demand dictates. All staff are helpful and friendly whilst maintaining a professional attitude and standard at all times.
This business's commitment to quality and safety is paramount. All work is carried out to the highest standards and all materials and accessories are quality approved and comply with the relevant BS codes. All work is carried out in strict accordance with the IEE Regulations and is certificated in compliance with NICEIC (National Inspection Council for Electrical Installation Contracting) guidelines, guaranteeing a high level of workmanship. The business is further UKAS (United Kingdom Accreditation Service) certified and a member of the Trustmark scheme: TrustMark is a new, award-winning scheme supported by Government, the building industry and consumer groups to help locate reliable and trustworthy trades people to make improvements and repairs inside and outside of the home.
With turnover of £850,000 per annum and a sound forward order book, this business represents a significant opportunity to acquire an extremely well run company, with excellent freehold premises, for a reasonable price.
Equipment
The business owns a fleet of four fully equipped signwritten vans and one Company car. The corporate logo has been professionally designed and is most attractive.
Customer Service
High levels of personal service sit at the heart of the company’s client engagement strategy.
Key Strengths
Having over twenty years of experience in the industry the business has established an enviable reputation for competitive pricing and high levels of client service. The business has an excellent, loyal team of highly skilled staff with a very strong management team. Much effort is constantly expended to maintain the strength of client relationships. This is directly and positively reflected in the amount of new business won from existing clients.
The company is renowned for being easy to do business with and displays a noticeable ‘we care’ attitude.
The company is debt free.
Growth and Expansion
To date most work has been obtained through the relationships that exist with civil engineering and building contractors. More effort can now be directed to developing ‘local’ business, within say 10 miles of the office. Local authority expenditure can also be tapped into, both at County and District Council level. The Company does not currently offer a call out service or reactive / term maintenance service. This is another avenue the Company can explore.
Employees
Eight electricians and electrical trainees are directly employed by the company. In addition, six sub contractors are regularly utilised, where most of their time is spent working for the business. Currently one contract manager works within the business (the managing director) and there is a vacancy for a second Contracts Manager. In the interim the Company is using the services of a freelance Contracts Manager who has been known to the business for many years.
Advertising and Marketing
A new, professionally designed, maintained and hosted website has recently been launched. This serves as a shop window to the business. No other direct advertising or marketing activities have been undertaken. The business would therefore undoubtedly benefit from the design and execution of a full strategic marketing plan addressing all media types.
Premises
The business occupies excellent freehold premises of circa 3,000 square feet. The space is conveniently sub divided. Three tenants are on 12 month leases, with no security of tenure, and contribute circa £19,000 per annum in rent.
Financial Information
The business is being offered for sale on an ongoing concern basis: all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.
The business is financially stable with no borrowing and enjoys a strong order book with high gross margins and is displaying sustainable and strong growth. Turnover in the current financial year to 31st May 2008 is forecast at £850,000. Gross profits are forecast at circa £300,000.
Reason for Sale
Having worked in the business for more than twenty years the owners now wish to pursue other activities.
Support and Training
The current owners will agree to an extended period of handover, training and familiarisation to ensure a smooth transition to new ownership. | | | | | BUSINESS STATUS: | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | GK103 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
