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Thu, Oct 17 2019 08:20:30 PM  |  /

NICEIC Accredited Electrical Contracting Company Industrial, Commercial & Domestic

Business Id:000349     |    Reference: GK280
Leasehold Price:
£250,000.00
Business Description

NICEIC Accredited Electrical Contracting Company 
Industrial, Commercial & Domestic
Ref. GK280
Location : Teesside/County Durham
Asking Price : £250,000

Fully NICEIC approved (both contractor and domestic level) this business provides a comprehensive range of electrical services to some of the largest organisations in the region including councils, schools and housing associations, who are responsible for large volumes of housing stock. In addition to this it also provides domestic electrical services and to a much lesser extent industrial services (circa 5% of current revenues) to customers.
Approximately 95% of current business is from a core of repeat customers, many of whom have ongoing contracts in place, who value this business’s exceptional levels of service developed over the 120 years of its operation. Staff understands the need to be 100% reliable and this has helped the business develop many long-term client relationships. This business’s commitment to quality, safety and environmental issues is paramount. All work is carried out to the highest standards with all materials and accessories quality approved and compliant with the relevant BS codes. Staff are highly qualified, technically very adept, highly motivated and take pride in their work. This ensures the job is always completed to meet the most exacting customer requirements. As part of this the business is proud to hold the “Investors In People.

Equipment:

Customer Service:

• NICEIC (approved contractor and domestic installer)
• Construction Line
The business is registered through the NICEIC (National Inspection Council for Electrical Installation Contracting) thus giving customer’s piece of mind that all staff are fully competent and conversant with necessary rules and regulations and works are carried out to the relevant standards.

Having been so active and prominent in the industry for many years this business is very well known and has established a superb reputation for quality and diversity of work, high levels of client service, reliability but perhaps above all its technical ability. The business has excellent staff and a good internal structure.
This is a very well run business that has been well managed financially throughout its many years of operation. It has a first class credit rating. This has ensured it gets excellent support from its suppliers and clients alike and enables the business to generate impressive profit margins on a year to year basis.

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 vendor is happy to exclude stock from the sale should a new owner not require it.

The asking price is based on a debt free cash free scenario but does include Net Tangible Assets (circa £5,000 as per 2017 Accounts)

The business does no advertising in the traditional sense. It does have a very basic website and receives exposure through its memberships and accreditations but prefers to rely on word of mouth, referrals and exceptionally high levels of repeat business to generate revenues.

With an enviable reputation within the industry and renowned for always meeting if not exceeding Client expectations there is an outstanding opportunity to build on the existing services and customer base of this company. With increasing demand for its services, combined with a capacity to increase turnover, a new owner contributing fresh ideas will have every advantage of building on an excellent platform and taking this business through its next period of sustained growth.
The current owners have never promoted the company. Further marketing would certainly increase activity as the business has all the infrastructure in place in terms of accreditations and staff.

The business operates from a large rented two-storey workshop/warehouse ideally located to serve the region. Premises are secure. It also has additional storage units. Current rent is circa £9,000 p.a. renewed annually. Business is currently being sold as leasehold or relocatable but we are advised the freehold could also be made available to a new owner if so required.

0800-1630 Monday- Thursday
Employees:

• Operations Manager (full time)
• 3 Administrators (all part time)

The vendor would be happy to provide a comprehensive handover as required.

Retirement

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 finance@turnerbutler.co.uk

 

Business Information
Turnover:£813,000.00 Annually
Property Status:   Leasehold
Leasehold Term: Current rent is circa £9,000 p.a. renewed annually
Is this business relocatable: No
Business Sector: Electrical Retailers, Electrical repairs/Electricians
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