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)|
|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.
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: firstname.lastname@example.org
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.