Business description

This successful business was set up in 1994 to exploit a gap in the commercial refrigeration repair and installations market. It has grown steadily to a position of strength in the North East, mainly through recommendation. The business is to be sold as a result of the owners wishing to retire and they are keen to do so as soon as possible.
The company specialises in design, installation, maintenance and repair of Cellar Cooling Systems, Cold and Freezer Rooms and Air Conditioning for the food and drink market. Commercial Refrigeration accounts for around 85% of total sales with Air Conditioning accounting for the balance. Maintenance Contracts are an important source of income and future sales.
Customers cover a broad spectrum of the food and drink industry and in total there are around 800 active customers, each of which has several pieces of refrigeration equipment.
The company operates from a 46m² rented industrial unit divided into office facilities and warehouse/workshop held on a lease requiring 3 months notice. In addition to the owners there are 3 employees and there are 3 fully equipped, sign-written vans.
Sales in the year to January 2009 were £350k showing an Operating Profit of £59k. Sales in the current year are expected to be lower at between £300k and £325k but margins are currently higher as a result of a higher proportion of repairs.
The Guide price for 100% of the shares is £125,000 on a debt free, cash free basis reflecting the owners' wish for a rapid sale. This business will be attractive both to existing refrigeration businesses wishing to have a presence in this geographic area and to people with a knowledge of refrigeration who would like their own business.

Property information

Property:

Leasehold