Featured Brokers
CONFIDENTIAL SALE
FOR SALE
618381
148277 / Rightbiz
Based in North East England
Overview
Project Velvet specialises in the design, supply and installation of food service and bar facilities for high-profile clients located across the UK.
Providing clients with a complete turnkey solution for commercial kitchens and associated catering areas, the business has become a trusted and reliable national food service system contractor.
The company has developed its capabilities over the last 20 years via a diverse client network and a high potential e-commerce platform which facilitates the sale of kitchen equipment and small wares directly to the consumer.
Having built up a highly reputable business, our clients are now offering the company for sale to facilitate a phased directorial exit strategy.
Offers invited.
Key Highlights
- Operates to a number of industry trade standards, including Gas Safe, SafeContractor, CHAS, and Constructionline.
- Long-standing relationships with buying groups and has direct deals in place with all major brands.
- Gold Standard partnership status with various suppliers enabling maximum purchasing terms and associated benefits.
- Operates across a wide range of sectors, including brewery, education, construction, local Government, hospitality, and healthcare.
- Benefits from over 350 active clients, 80% of which provide reliable streams of ongoing revenue.
- Highly skilled workforce in place overseen by a robust management team that can oversee day-to-day operations with minimal oversight from the directors.
- Operates from office and warehouse premises, both of which are leased.
Financial Highlights
- YE23 turnover in excess of £6.7m.
- EBITDA of £451k achieved within the same year.
- Strong forward order book value in excess of £2.2m.
- Expected turnover of £7.5m in YE25.
- Has recently taken on numerous large clients, which could generate the company up to £4.4m in the next few years.
- In the final stages of contract negotiations with a major hotel company, with a value of circa £300k.
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.
Do not share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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.
Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
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.
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.
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.'.
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.
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.
Be safe, use a Rightbiz Solicitor
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.
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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.
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.
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.
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.
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.'.
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.
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.
Be safe, use a Rightbiz Solicitor
Get Solicitor
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