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Engineering Services
We are instructed to seek expressions of interest/indicative offers for the assets and goodwill of a North West based company which provides general engineering services including custom machining and manufacturing.
The company operates from a small leasehold industrial unit with an arm’s length commercial lease, with an appropriate range of older style metalworking machinery – PLEASE NOTE almost all the machinery is subject to a finance agreement in which there is negative equity.
Turnover for 12 months to February 2022: Circa £250,000
Profit/loss for 12 months to February 2022: Loss of £92,000
Rent: £20,000 per annum (lease has 2.5 years to run, but there is a rent review due in November 2022)
Employees: 4
Number of regular customers: Currently circa 25
Average transaction value: Circa £3,000
Order book/WIP: Circa £25,000
Vehicles: 2 commercial vehicles, both on rental agreements
Drawings and paperwork of parts custom-made for clients historically produces approximately 10% of the turnover.
Unencumbered assets comprise:
a) Forklift truck, compressor and tooling to be used with the third party machines, plus 1 off welder.
b) Appropriate office furniture and equipment.
c) Nominal quantities of stock – stock is purchased against requirements for specific orders.
At this stage, we are instructed to seek indicative offers, which are non-binding, together with proof of funding, to be forwarded in writing no later than noon on Monday, 21st February 2022 to
David W Kay: david@robsonkay.co.uk
Parties making indicative offers at an acceptable level and supplying proof of funding, will in due course be asked to sign an NDA and be provided with additional information – no further information is available at this stage.
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