Businesses for Sale

Bowser & General Steelworks Manufacturing Business Opportunity


SOLD

The company specialise in the manufacture of bowsers.  These consist of a large tank, typically mounted onto a trailer, but in some instances, mounted onto skids.  They also utilise their metalworking machinery to work on occasional general steelworks related orders.

The company make both single skin plastic bowsers (primarily for storing and dispensing water) and bunded (double skin) steel tanks for use with fuel or similar.

The bunded steel tank bowsers are made from scratch, with the company making the steel chassis (which are sent out for galvanising and then returned) and the tanks, with the company having IVA approval for the trailers to be used on the road.  We understand the company also have testing certification for the steel tanks.

The majority of the plastic tank bowsers use a tank which is made for them by an external manufacturer, who has possession of a mould paid for and owned by this company.  When the company are required to make plastic bowsers using a different sized tank, they buy the tanks in but make the rest of the bowser in-house.

The company’s assets primarily consist of stock/raw materials, metalworking machinery, vehicles, office furniture and equipment plus IPR as referred to above together with their trading name, website and related assets.

Inventories of physical assets other than stock can be found by following the 'catalogue' link at the bottom of this page

Stock consists of components, paint, part-built welded chassis and steel with a total estimated cost price of approximately £23,000 plus a part-built cancelled order with an estimated cost price of approximately £5,000.

We understand an occupational lease is in place, whereby rent in the amount of £4,000 plus VAT should be paid, however we further understand that the company has not paid the full amount of rent due for approximately two years.

The site is understood to occupy 1.3 acres, with the factory being a little over 14,000 square foot and the adjacent offices a little under 2,000 square foot.

We understand that the landlord is amenable to any potential purchaser of the business renting the building, purchasing the building or moving to a new location.

We understand that the company have two customer lists, one of all historic customers and the other for any party who has expressed interest in purchasing.  In each instance, we understand there is a note of the type of product the customer has bought and/or is interested in.

We understand that the company have one major customer, a plant hire company, who have historically been responsible for as much as approximately two thirds of turnover but in more recent years, make up approximately one third of turnover.  Basic turnover and profit figures can be found below.

Year to 31st July 2017, turnover £1.3m, loss £100,000

Year to 31st July 2016, turnover £1.1m, loss £141,000

Year to 31st July 2015, turnover £1.87m, profit £68,000

Year to 31st July 2014, turnover £1.5m, profit £100,000

 

The company are understood to employ 14 members of staff as follows: -

- Nine factory workers who also take on driving duties

- One cleaner

- Three sales and administration staff, also responsible for accounts and secretarial duties

- Managing director/owner

 

A sale needs to be agreed in principle no later than Wednesday 11th April 2018 in order to instruct lawyers that evening, in anticipation of completion, in conjunction with the company entering into administration, early the following week.

Our suggested guide price for bidding is £50,000 - £60,000.

Please contact jonathan@robsonkay.co.uk, telephone 0161 998 8111 for further details.

 


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