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Supplier of Steel Products Freehold,Steel Stockholding & Trading County Cork, Ireland

Undisclosed, Undisclosed
Status
FOR SALE
Advert ID
182068
Reference
ER012 / Rightbiz
Annual Turnover: £1,779,728

Major Supplier of Steel Products Freehold, Independent Steel Stockholding & Trading Company

Ref. ER012
Location : County Cork, Ireland
Asking Price : £1,200,000

Long established and with an excellent reputation, this business is an independent home grown stockholding and trading company. The business has grown significantly in the past few years and has developed a fantastic brand name. Levels of stock have been maintained, even in the most competitive of conditions.

Started in 1990, the business supplies specialist steel specifications and stocks an extensive range of the highest quality engineered steel products, including a full range of carbon and stainless steel pipe, fittings, valves and flanges, stainless steel sheet and a full range of mild steel plate and sections, universal beams and columns, and much more.

The business is a major supplier to the following industries: Pharmaceutical, Dairy, Brewing, Refrigeration and Petrochemical.

The reputation of the company has been built by the current owner along with the teams expertise both fully supported by in-house technology. Specialists in non standard items across the range of made-to order- products, the business provides expert advice, drawing on the knowledge, experience and technical expertise the business has of the steel industry.

Customer Service:

One of the major features in the company’s growth and success, apart from the quality of the product, is the importance of good customer relationships, which enables it to maintain a first class service.

Key Strengths:

Well established and profitable, this business supplies carbon steel, mild steel, aluminium and galvanised steel products. Known for its ability to complete large and small products, the business retains a high level of repeat business, particularly among a number of high profile Blue Chip clients who return on a regular basis. These customer relations are founded on a history of trading satisfaction.

Growth and Expansion:

Further growth could be achieved with more capital injection, possibly extending the premises and undertaking more marketing to allow the business to reach its full potential. This growth could also be achieved within the current structure, by continuing to build on the principles laid down by the management team. The current owner suggests that recruitment of further staff would encourage future sales growth. The business turnover continues to grow and the forecast is for another year of increased growth.

Financial profile:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

The business has shown a consistent improvement in profits over the last few years, as shown.

Turnover for the last financial year 2016 circa €1,932,526

Gross profit c.€552,974

Adjusted EBITDA before drawings c€272,359

Net assets (assuming no cash no debt) c€1.020m

There will be a € for € adjustment to the final sale price to reflect any movement away from this estimated net asset figure in the final completion accounts.

Advertising and Marketing:

The business has relied solely on its well respected name and word of mouth recommendation and found no requirement for advertising, apart from the company website which provides excellent details regarding capabilities and products provided.

Premises:

The business is centrally located on an industrial estate in a modern and progressive town.

A new lease will be offered to the company at an initial starting rent of €40,000 pa rates.

The freehold of the premises are not included in the asking price of the sale but are available by separate negotiation with an asking price of £400,000. A brick built structure of steel portal frame construction; the premises contain a ground floor warehouse of circa 7,000 sq ft with trade counter facilities, staff kitchen and toilet. To the front of the accommodation there are roller shutter doors and a personal entrance door into an office. The forecourt has plenty of parking spaces.

Business Hours:

Monday – Friday: 9am – 6pm

Employees:

There is a high level of continuity of quality local staff, which ensures maximum customer confidence, and a high level of customer service. Second to none, the employees have developed long established relationships with key accounts clients. The strength and reputation of this business is supported by a loyal workforce, which comprises of the owner plus 4 full time staff inc. 1 general manager, 1 store person, 1 administration/ P.A and a truck driver.

Support and Training

The owner would be happy to provide support and training to help with a smooth transition of the business.

Reason for Sale:

Following many years of successful trading, the vendor is now ready to retire and anticipates that more investment from a new owner will take the business to the next level

Looking for finance ?

If you are looking for finance to fund your business purchase then we recommend that you talk with our independent finance broker. Because of his many years working at a senior level for a major high street bank he has had more success with finance applications than anyone else we know. He has helped numerous purchasers of businesses that we are selling, including buyers who have been turned down by their own bank! Call us today on 0800 046 1652 or email us at [email protected]

Listing Details
Location: Undisclosed, Undisclosed
Sector: Metal Businesses
Key Features
  • Company for Sale
  • Price Reduced
  • Prime Location
  • Attractive Business
  • Established Business
  • Unique Business
  • High Turnover
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Advert Reference: ER012 / Rightbiz

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