Independent Plant and Tool Hire Company In County Durham

County Durham,
Business ID:
  • Ref: 2074
  • Type: Retail, Services
  • Availability: For Sale
  • Business ID: 2074
  • Commercial Tenure: Freehold
  • Commercial Price: 1000000
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Full Details

Independent Plant and Tool Hire Company Located In The North East For Sale
Ref 2074

This outstanding concern is located in County Durham

Business information
Asking Price: £1 Million
Turnover: £655,438 pa net of VAT
GP: £365,992 (56%)
Plant Value Included £350K

New lease available
Rent: To be agreed
Freehold may be available
Rates: £ 12,500 pa

Business Description
Veritas Business Sales are delighted to offer for sale this respected Plant and Tool Hire business that has been established since 1983 by it's current owners and is only now being offered for sale so that they can enjoy a well deserved retirement. Since ownership they have continually invested in new plant and machinery along with fixtures and fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. The business is family operated and requires the help of 6 highly experienced full time members of staff. They serve a wide range of customers from the DIY enthusiast to blue chip companies, National contractors and SME's. They are well established in the engineering sector on Teesside, Sunderland and Newcastle and other sectors include, petrochemical, offshore oil and gas, mechanical engineering, heating and ventilation and the shipping industry, industrial, construction and home equipment. The team are fully trained to manufacturers specifications and hold the CCNSG Safety Passport which is a nationally recognised industrial safety standard and quality is further assured through ISO 9001. The 2016 accounts show an annual turnover of £655,438 with a GP of £365,992 and returns a very healthy adjusted net profit of £290K. We believe that there is further potential to expand upon what is already a thriving business by investing in larger access, pressure testing and lifting equipment. Some of their existing clients require plant hire on a National level which they currently cannot accommodate so this would be an ideal acquisition for a National plant hire company to service their needs. It would also be fair to say that the website could also be adapted to have an online shop to bolster income. The business enjoys a really strong reputation within the local community and beyond for service, reliability and value for money and as such has a high level of regular and repeat trade going back many years. This is a superb opportunity to purchase an established and highly profitable business which is a great base to build upon and as such early viewing is highly recommended as this business is not to be missed.