Profitable, Well-Established Precision Engineering Business for Sale in Norfolk
Undisclosed
- Status
FOR SALE
- Date Submitted:
02/08/19
- Advert ID
246974
- Reference
B05435 / Rightbiz
- Call Agent:
- Turnover: £728,779 (£14,015 Per week)
- Net Profit: £19,089 (3% Profit margin)
Business Details
Well Established Precision Engineering Business
BusinessPlease quote reference B05435
CoGoGo welcomes to the market a well established precision engineering business, a profitable company that was established by our clients, in the 1980’s, who are now selling the business and freehold in order to retire.
We have been advised the company is one of the UK’s leading subcontract CNC machining specialists providing companies from all over the UK with high quality CNC machined components. The company has a strong commitment in providing customers with the highest quality customer CNC machining services. These high levels of customer service are maintained throughout the manufacturing process, from working with the initial design to delivery.
The business has several large clients from the food manufacturing and packaging indusrty, along with many smaller clients.
There are many clients across the UK and worldwide. Other industries the company carries out CNC services for include the motor industry, oil, gas and petroleum and pharmaceutical sectors.
Due to its longstanding and large client base the business has a great reputation in the industry and therefore would be an ideal purchase for a buyer looking to expand their company.
The business is being sold with the company website
Although the business is profitable there is still scope for development by considering:
- Introducing a second shift to increase turnover
- Reconfiguring the ground floor area to incorporate further machinery
- Over 20 years of quality service
- Many long standing staff
- Constantly renewed machinery
Location
The business is located in Mid Norfolk.
The business is set within 2 industrial units with parking to the front for 11 vehicles.
Premises
The premises are made up of 2 large industrial units with a total of 590 square meters. Both units have shutter door entrances for high sided vehicles and pedestrian entrances with sign written glass walls. They have a large internal opening between them to create one large space. There is a reception area with a seated waiting area, access to a ground floor toilet, access to the main workshop and stairs leading up to the first floor office space.
The first floor office has desks, computers, photocopier, windows to the front and a kitchen area, an internal flight of stairs leads down to the main workshop area.
The main workshop area has all machinery and rooms off which include:
- Locker room with staff toilet
- Canteen area with tea and coffee making facilities, staff seating.
- Office area with CAD computers, PPE storage and drill bit storage.
- The main workshop has equipment and machinery including:
- 6 milling machines
- 5 Lathes
- Drills
- Bandsaws
- Presses
- Welding bay
- Racking
A sign written 61 registered Renault Traffic van is being sold with the business.
A Toyota Triago 15 forklift is rented at circa £4,000 per annum.
The company moved to these premises in 2014 and were the first occupiers of the building. All fittings are from 2014 or since
Tenure
We are advised the business is being sold as a freehold business opportunity with the freehold units worth in the region of £500,000
Hours
Monday - Friday: 6am – 5.30pm
Saturday: 6am – 12pm
Sunday: Closed
Staff
The business is run and managed by our client, with the help of 10 members of staff, 7 of which are full time engineers.
Our clients have indicated that they could stay on for a period of time, subject to agreeing terms.
Financial Profile
The business generated a turnover of £661,765 as of the 2023 accounts, with a gross profit of 28%, operating profit of 1% and an adjusted net profit of 14.7%.
The operating profit for 2022 is at 0.4% and for 2021 the operating profit is 3.9%
We are advised the assets being sold with the business are worth in the region of £700,000
Please quote reference B05435
Contact Agent
Listing Statistics
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Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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