Scaffolding Business for sale
We are instructed to seek expressions of interest/offers in a company which it is anticipated will enter into an insolvency process.
For the avoidance of misunderstandings we are not seeking offers for the company, simply any such rights as the company may have to the assets, goodwill and intellectual property rights.
The company is based in the North of England, and specialises in producing custom-made scaffolding for specific applications.
Turnover has been in the region of circa 1.6m.
The assets comprise:
a) Office furniture and equipment – a modest amount of mid-range office furniture and IT equipment with an estimated market value of circa £1,600.
b) Vehicles – one van with an estimated market value of circa £2,000.
c) Plant, machinery and equipment – this comprises primarily cut off saws, welders and hand operated power tools with a quantity of trestles and materials handling racks – collective market value circa £6,300.
d) Stock-in-trade/raw materials - these consist of industrial fastenings, welding rods and other consumables plus a small quantity of metal stock (tube and similar). The stock has an estimated market value of circa £3,500, however much of it may well be subject to Retention of Title claims by the suppliers.
e) Work-in-progress – there is a small amount of work-in-progress which only has scrap value unless completed to an appropriate standard for the customers for whom it was originally intended (further assuming said customers do not cancel).
f) Stock/assets located off site – the company has scaffolding and related equipment on a third party site, much of which is erected.
i) The customer in question has cancelled the contract due to failures in meeting the agreed timetable.
ii) The majority (if not all) of this scaffolding equipment is or may be subject to third party claims – the majority being purchased from third parties who have delivered directly to the site, but not been paid for same.
The figures quoted above are estimates of market value, i.e. what the assets would realise if offered for sale in the current marketplace.
At this stage we are instructed not to disclose the name of the company, but to simply seek expressions of interest/indicative offers, which must be accompanied by proof of funding.
All expressions of interest/indicative offers (with proof of funding) to be forwarded to:
David W Kay
Robson Kay Associates Ltd
Manchester M23 9GF
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