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Deal Tracker Sales|Mergers|Acquisitions
In the final analysis Avondale is no more or less than the results we achieve. Here is just a few of our past transactions. For reasons of confidentiality not all our transactions are shown. A Leading Independent Brewery - Exmoor Ales Limited
S. England 
A Marketing Leading Hose Reel Manufacturer
South East 
A Niche Recruitment Agency
South East 
Air Condition Business
South East Avondale are pleased to announce the sale of NRJ Maintenance Limited and NRJ Services Limited, an air conditioning business based in the North and South of England with a combined turnover of £2.2m.
Avondale successfully managed the entire sale process. Several pffer prooposals were receveid from other Air Conditioning companies and the sale was ultimately agree to Air Conditioning Economics Ltd. NRJ had a large client providing 25% of annual turnover, which was a concern to the purchaser. As a result, Avondale managed to negotitate a performance related structure that was suitable to both parties. This structure was based on gross profit performance of NRJ for the period 18 months post compeltion. The total sale price was circa £1.6m. "I am very pleased with the overall proce Avondale achieved, the deal structure and how smooth the transaction proceeded to completion." The vendor, Richard Chapman.
Architect
South East • A well established architects business with an excellent reputation in the educational sector with a Turnover of £1.35m and Net Profits of £300K.
• The sale value secured by Avondale was in excess of £1M with many interested parties and several offers.
• The vendor had an active full time role. In his late 50’s, he was seeking to sell and retire. The vendor will remain with the business for 3 years to ensure continuation of the goodwill over the next five years.
Architectural Engineers
South West •The business designs, fabricates and installs in the general and stainless steel sectors. It has a growing turnover of circa £1.5m.
•The directors, in their late 50’s, had successfully established and developed the business over 25 years and wished to retire.
•The acquirer required significant transactional finance to be raised to overcome the level of application payments pertinent to a construction related business. Avondale facilitated the ultimate bank lending to complete the deal successfully for both vendor and acquirer.
•The overall project took 18 months.
•During this time Avondale delivered a number of potential acquirers before finalising a deal with the ultimate buyer.
Bathroom Showroom Business
West London 
Bathroom, Plumbing & Heating Centre
East Anglia • Turnover £1.3m
• For retail customers, the business provides a comprehensive home survey, computer-aided design, supply and installation service for bathrooms, shower rooms and cloakrooms. A trade counter deals with plumbing and heating products.
• The Vendors wish to retire after providing a handover of the business.
• Avondale was instructed to negotiate a sale that would allow the Vendors to retire from full time involvement with the business by the end of the year. The acquirer, a private individual with no previous experience in the sector, required a long enough handover to exit from employment and integrate into the business. The business traded as a partnership and the sale was secured on an asset and goodwill basis. The goodwill was fully paid on completion. A long-term lease was assigned to the acquirer. The Vendors agreed to assist the acquirer by remaining within the business on a full time basis until the end of December and working part time for the remainder of the handover period.
Beauty, Health, Sport Therapy Equipment
England 
Building & Construction
Midlands · Turnover £1.7 million.
· Property adaptation, major alterations & general maintenance.
· The vendor was of retirement age and had built the company from inception.
· The vendor was looking to retire and spend more time with his young family.
· Avondale was instructed to seek an acquirer for the Company. Our focus was to secure an acquirer in the same or synergy industry, which we achieved in October ’06 followed by a 3 month due diligence and legal process. The transaction was secured on a share sale basis, with the majority payable on completion. A short handover period was negotiated to enable to Vendor to retire as soon as possible.
Building & Property Maintenance
South East •Building & property maintenance
•South East
•Turnover of £1.3m, growing year-on-year, with 30 employees
•The company provided a property maintenance service to a wide range of clients, such as housing associations and national retail chains, and had a number of long term maintenance contracts in place.
•The vendor had built the company up over 8 years, and also had interests in property development. He wished to sell the company to allow him to spend more time on his other business interests, as well as enabling him to travel abroad.
•The vendor did not want to provide a long handover period, and so Avondale was tasked to identify a purchaser who did not require our clients to remain with the business for a lengthy period. The purchaser was a private individual, known to Avondale, who had been seeking the right business for about a year.
Building Contractors
South East •Turnover £12m with a Net Profit of £860K.
•Our client's aim was to exit his business in order to spend more time his family and eventually retire.
•The purchaser had been registered with us from some time and was in the process of acquiring a number of depots across the SE enabling him to increase his range of building services.
•Our client achieved a deal in the region of £4.5M which was slightly in excess of the original valuation of the goodwill of the business, in addition to the net asset value. Our client also retained profits in the bank totalling £500k, far in excess of the working capital required.
•Avondale Group negotiated a transfer of the funds in a way that our client benefited from a reduced level of Capital Gains Tax, through Taper Relief.
•A mutually satisfactory consultancy period of 2 years following completion was agreed with our client.
•The purchaser is now looking for further acquisitions with Avondale, due to the level of service they experienced.
Building Management Systems
• Turnover £3 m.
• Supply, installation and in house manufacturing of building maintenance systems and control panels.
• The vendor was looking to retire. Over more than a year after our intial meeting - we got there!
Many thanks for your assistance and support throughout all the phases and various transactions.
From day one, when you first visited our offices to overview the business, we have been impressed with Avondale's professionalism and knowledge that continued all the way through. The research process of using various internal mechanisms to identify the many potential buyers and the subsequent filtering process was very thorough.
The advice and support during the negotiation phase was crucial, many aspects of which would otherwsie have been beyond our understanding - and eventually leading to a successful conclusion to what was considered to be an excellent deal for both parties.
Despite the many difficulties (i.e. banking, insurances, solicitors, etc.) following these negotiations through to the closing stages, Avondale remained resolute and committed to the cause - they actually often oiled the process to drive it through.
If ever the opportunity presented itself - we would have absolutely no reservations in recommending Avondale for their overall excellent service in the pursuit of sellnig a company.
Yours sincerely
AH & AB
Care Agency
Northern England • Turnover of over £2m deal value £1.75M
• Provided care services, contracted to local authorities
• Vendor was a Group with one young, majority shareholder.
• Sought disposal to enable investment in core market
• Three offers were obtained very quickly, the offer process was carefully managed to obtain the best result.
• Acquirer found within 2 months of instruction, deal complete within 4 months.
Care Agency (Multi Branch)
UK based 
Childrens Play Equipment
South East The vendors wanted to emigrate to America for family reasons after successfully selling their business and providing a short handover. Avondale met very tight timescales in order to complete the transaction and to meet the vendor’s requirement for their child to be able to get into their chosen school by September.
This market leading outdoor play equipment business was established in 1966. The Vendors initially saw the product in America and introduced it to the UK market as sole distributor. The company turnover was £1.7m with a net profit of £230K. The marketing was excellent and the business showed significant UK and European expansion potential.
After having identified several potential purchasers, the Vendors decided that the purchaser they had selected would have the ideal cultural fit with the business and that, being under 40, he would bring energy and vitality to the business.
The deal value was £750K. Importantly, the transaction saw the Vendors receive the majority of the money on day one, with a small amount deferred over time and relating to performance. The purchaser was from an unrelated sector yet could see the significant expansion potential to maximise the capacity of the warehousing and distribution infrastructure. The deal took just 7 months to transaction.
CMD Fire & Security Limited
Consulting Engineers in Renewable Energy
UK Renewable Energy Consultancy where Avondale acted for the joint founder of the business in the negotiation and sale of his minority shareholding. Avondale provided a full negotiation service and once a deal had been secured by way of a company share buy back, project managed the transaction to completion.
The overall project took 6 months from initial appraisal through to deal completion. Dear Richard
Following the successful completion of the sale of my share of the business I am writing to thank you very much for your guidance and support through the sale process. This was a new experience for me and my decision to use the services of your company proved to have been wise, particularly as it proved to be a lengthy and difficult sale.
I was very impressed with the way you kept in touch from the first day through to completion of the sale giving me support at each step of the sale. There were times when my spirits started to wane but throughout you were always available to offer advice and provide support.
It was a real pleasure to work with you and I would have no hesitation in recommending you to anyone considering selling their business.
Yours sincerely
MRH
Contract Furniture
South West •Contract Furniture located in the South West
•The business designed, manufactured and installed bespoke solutions principally to education establishments, doctors’ surgeries and hotel accommodation
•£1.5 million turnover producing operating profits in excess of £250,000
•The vendor started the business 20 years previously and having established a successful position in several market niches sought semi retirement in order to have more time to spend with family
•Potential purchasers introduced were from related corporate sectors, synergistic industries and private investors. Re Sale of Exclusive Contract Furniture Limited
I was absolutely delighted that the sale of my Company reached the completion stage on 21st September.
I would like to express my gratitude to you for the way you conducted the initial search for a buyer, the negotiations, and the final steering of the sale through the legal minefield.
You continually kept me appraised of progress and were always available to discuss any concerns I might have had.
I would have no hesitation in recommending the Services of Avondale to any Director considering their own Exit strategy.
With Kind Regards
RM
Conveyor Belting Manufacturer
East Anglia •The business designs, fabricates and installs a range of medium-duty and lightweight belts for the conveyor and elevator industries, the majority of sales being made to original equipment manufacturers and trade customers.
•Turnover in the last accounting year was £1.4 million, producing a net return under management of £300k.
•The managing director had established the business in 1982 and now wished to retire.
•Day to day operations, including manufacturing and sales, had already been delegated to a non-shareholding director who wished to stay with the business.
•Another broker was initially instructed to sell the business but, after exhausting contacts within the trade, failed to secure a buyer.
•Avondale was instructed to concentrated on finding a buyer from outside of the trade.
•After introducing a number of potential acquirers, the eventual buyer was found. His lack of experience in the trade was dealt with by retaining the non-shareholding director and encouraging him to purchase some of the shares.
Domiciliary Care
· Turnover £1.2m
· Branch of a National Franchise
· The vendors took up the franchise 6 years ago. It had just been renewed.
· Retirement sale.
· The Franchisor would not permit a sale to anyone already operating in the sector which considerably limited the purchaser profile to individuals only.
· The sale completed in April 2007.
Domicillary Care Agency
UK wide • Turnover £7m with Net Profit of £600k.
• Sold to a Public Limited Company. The vendors were willing to give a minimum 2 year hand over which gave the PLC a good management infrastructure on day one.
• Avondale completed the transaction in less than 6 months. The vendors had four strong offers to choose from which enabled them to pick the deal that best suited them.
• Deal went through at £4.3m with £3m paid in cash upfront with the rest in shares and earn out.
Double Glazing Window Manufacture and Retail
London Area • A profitable business run by it's 4 shareholder who wished to retire.
• Turnover just under £2M with Net Profit of £300K.
• Avondale introduced a local trade buyer, and successfully negotiated the transaction through to completion.
• Avondale Financial were equally introduced to advise the purchaser, and to arrange the financing for the transaction.
• Avondale achieved a sale value in excess of the consultants valuation of £1M.
Engineering Design - Aerospace
South England · £1m - £1.5m T/O. £1.7m deal, including debt
· The vendors were a mix of the descendants of the founders of the business and the current directors. The directors wished to retire after 23 years in the business and the other shareholders were not involved in the operation of the company, so a sale was sought.
· Retirement
· This was a fairly straight forward deal in the early stages, but with significant complications arose in the legal stages, where Avondale were able to help keep the deal on track and move it forward to completion.
Fabric convertion (South East)
•The business processed short run fabric lengths and had developed machinery specifically to cope with short lengths, thus providing a service that few other fabric converters were capable or bothered with. The business made approx £300K per annum. A deal was struck with an organisation that had a diverse group of niche businesses (with no commonality).
•The price achieved was £1.1M paid cash on completion.
•The sale enabled the Vendor to retire after giving a six month handover.
•The project took 6 months to transact.
Facilities Services Company
The business has a first class reputation providing facilities services solutions to a wide range of organisations throughout the UK. They sought to expand their 4 offices to encompass a formal presence in the North West and to increase their turnover from £6m to £10m by the end of 2007.
Avondale identified a suitable candidate, The Building Maintenance People, based in the North West. Their profile provided the exact fit for the acquisition Linaker sought, providing both significant turnover and geographic growth. Avondale handheld the process resulting in a successful completion benefitting both parties Strong advice. Gave us confidence and led to delivery
Food Manufacturing
North England • T/O £2 Million.
• Manufacturer of preserves.
• Family run small manufacturing company producing high quality jams and preserves.
• Worked closely with purchaser’s advisors and vendor’s. Our ability to support the vendor through the process. Immediate access to validated buyers in the food sector.
• Four months from engagement of Avondale to completion at the solicitors.
General Builders: Maintenance & Refurbishment
South •This well respected family builders has a strong maintenance & refurbishment focus, linked to county council contracts held for 16 years and ongoing - plus other contracts with the fire service and property companies and capital contracts connected with them. The directors wanted to look for an exit but were keen to find the right kind of buyer - preferably another family company which they could trust and would be prepared to work with for a number of years. This kind of ideal buyer takes longer to find but Avondale have now completed a transaction with a larger, family owned construction company - our clients' company has become part of the group, retaining its name, structure, staff & premises.
•One of the directors will leave at the end of two years (the second year part-time) having trained his successor. The other director is a little younger and plans to stay with the company for at least five years. We negotiated a retained shareholding for him which will enable him to share in the planned growth of the company while adding to his motivation - from the buyer's point of view. Both directors retain full salaries throughout this period.
•The company was turning over approx £2.3m with an adjusted net profit of approx £200,000 (GP margin 19.5%). Net assets were approx £600,000. Avondale negotiated a deal totalling £1.3m - Net assets plus a goodwill figure of £300,000 and freehold premises valued at approx £400,000. The buyers paid the freehold price in full on completion plus 75% of the rest, retaining a 25% share of the goodwill & net assets (bank guaranteed) to be paid in instalments over two years - on a performance basis with a profit share deal offering significant added value over that period. This was attractive to the vendors because they were remaining in control of the company during that period. It also covered the risk calculated by the purchasers & their bankers. The large staff transferred very easily to the new company / group because the vendors were remaining in management positions.
•The key to this deal was an organised exit over a period of time which minimised disruption within the company and maximised its growth potential. The vendors feel that they stand to make substantial added value from the profit share, which incentivises them to generate the growth that the purchasers are looking for, but in a very fair scheme. The icing on the cake is that the principles of both companies like and trust each other and the 'family' ethos will be retained for the foreseeable future. The transaction was completed extraordinarily quickly because of the positive relationship developed between the parties.
General Building & Construction
South West England Established in 1988, the business provided a comprehensive contracting service undertaking a range of projects from general building and maintenance through to specialist structural work. The business' turnover was circa £3m and clients ranged from local housing authorities, to commercial organisations to private individuals.
One of the two shareholders was nearing retirement and the other wished to pursue new business ventures. Avondale conducted a thorough marketing campaign generating in excess of 200 potential buyers. The deal was structured as a share transfer and enabled one of the shareholders to exit the business after a two week handover, the other is remained in the business for the next 18 months.
Grilles & Vents Manufacturer
South East A second generation family business with no further succession within the family.
The business was sold on 23/3/05 for a little in excess of £2 million.
Healthcare & Mobility
South East •Four branch High Street retailer of healthcare and mobility products (from walking sticks to stair lifts). Turnover £3M.
•Vendor looking to sell in order to set up new unrelated business venture in Spain.
•Growing marketplace given the ageing UK population.
•Purchaser came from our web site enquiry desk and was looking to purchase a profitable business that had the potential to ‘roll out’ nationally.
•The price achieved after 9 months of marketing was £950K on completion with a further £250K paid after 12 months and 24 months dependant on future performance.
Human Resources, Health & Safety and Training Consultancy
South East • Turnover £13m with a Net profit of just under £2m.
• Our clients wanted to sell to explore other things in the life but as a relatively young couple they needed the financial security of ongoing consultancy work.
• The purchasing company was OFEX listed at the time, and was aggressively acquiring as part of it's expansion plans, and intended AIM listing.
• The transaction was agreed at £11m to include a balance sheet value of £4.5m.
• Avondale had several offers to negotiate with, helping to arrive at a respectable value.
• Both vendors are staying with the business for a period of time.
Hydrobolt - Specialist Engineering Group
IT Software House
South East • Turnover £1.5m with a Net Profit of £700K
• This facility management software company was sold to a software house specialising in total property management but lacking a facility management module.
• The sale price achieved was £2.5m and the business generated under management approx. £500k before tax. Net assets amounted to £500k of which half was cash. All monies were paid on completion.
Letting Agents
SE England This successful 3 branch property business specialises in Residential House Sales, Commercial Sales and Lettings, Property Management and Block Management. The owners wished to retire and to pursue property development interests. Despite the problems in the property market and the lack of purchasers for the Estate Agency sector, Avondale were able to find the right purchaser and complete the transaction within the tight timeframe the vendors required.
Lift Engineering
Southern England · Bespoke lift manufacture and installation specialists, well known for quality of workmanship and professionalism.
· Our client was a family business started 30 years ago. However, the current family member running the business was looking to retire.
· Turnover - £2.1M, Net Profit - £200K
· Ensured a successful share transfer deal and favourable terms with one of the industry’s largest players.
· Sale value of £1.1M, slight above the consultant's value due to 28 interested parties.
Marine Publisher
South East •Niche monthly magazine read predominately by professional designers and engineers. Circulation in Europe and USA. Growth potential seen in ‘Branding’ the publication.
•The owner had bought the ailing magazine several years previously and having established it once again as a ‘market leader’ was looking to sell on the opportunity.
•The purchasers were publishers in affiliated fields looking to expand their portfolio of titles.
•Deal was struck in Feb 2004 with 75% of the consideration on completion and 25% deferred for 12 months. The vendor was to continue working for the purchaser (on a number of Titles) for as long as they wished to contribute on a freelance basis.
•The price achieved equalled gross profit.
Metal Recycling & Waste Management
· £2.15M deal value, T/o: £2.4M.
· The Vendor was an engineer for 20 years working in the oil industry. After coming home to settle down, The vendor looked for work and decided to buy an old machinery, repair and re-sell. This business quickly grew in size and branched into all types of recycling. Establishing the business in 1989, the vendor decided that enough was enough and wanted to retire and focus on this property hobby.
· The business has built a solid reputation for service standards and reliability. The business generates its turnover from a range of services the majority being waste transfer and associated metals recycling on a contract basis. The recycled metals are subsequently brokered. The waste transfer contracts are complemented by skip hire and a public weighbridge service.
· This deal completed in February 2007.
Multi Branch Estate Agency
South The business was sold on 31/5/05 for a sum of £1 million, to enable the owner to retire and pursue other non business related interests. The purchasers were new to estate agency however have significant related business experience, and plans to further develope the agency.
Plant & Engineering
SW. England Avondale are pleased to announce the sale of a Plant & Engineering company based in Southern England. The business was instructed for sale to enable the five directors to organise a structured exit to retirement with phased consultancy agreements for a negotiated period post completion. The client base was strong and loyal, having been with the company for 20 years (and with the partnership before that). The business had a strong record of quality service. The company was purchased by an experienced engineer and MD looking for a personal acquisition in the right location and with the right growth potential. Avondale worked with the company’s accountant grooming the company for Sale and managed the project through to completion in ten months.
Plant and Equipment Hire
East of England - The business hires out a range of plant and equipment from small tools to substantial digging, moving and lifting equipment, concentrating on civil engineering and new building projects in the East of England.
- Initially established by the vendors in order to service the plant and equipment requirements of their associated construction companies, it subsequently began trading with external clients.
- Avondale was instructed and efforts were concentrated on finding a buyer from within the trade that would obtain synergies from the acquisition. The purchaser is a specialist hirer of plant and equipment on a nationwide basis and the acquisition filled a strategic gap in their network of depots across the country.
- The transaction included purchase of freehold property for a new depot and a long term contract for ongoing hire of plant and machinery to the associated construction companies, as well as acquisition of 100% of the shares in the vendor company.
Plastic Injection Moulder
South East ·Injection moulder offering in-house design, prototyping, rapid tooling, production tooling, injection moulding, finishing and assembly. Sectors served include Aerospace, Automotive, Telecoms & Medical.
·Turnover £6M with small profits.
·The purchaser carried out a similar operation with turnover of £22M.
·The sale involved much structured finance enabling the vendor to achieve a premium above the net assets, all be it on future turnover.
·Vendor involvement post deal was retirement for the FD and a 12 month contract for the MD.
·The value of sale was in access of £2M. This was acheived by securing 90 interested parties, setting up several meeting and obtaining 6 offers.
Power Supplies
East England · Turnover £1.3M.
· The business designs, manufactures and sells a range of power supplies on a worldwide basis, used in a wide variety of customer-specified applications, but particularly in rolling stock for the rail industry.
· Having been established in 1971, the business was acquired by the management team as a result of a buy-out in 2003.
· The acquirer, a French multinational competitor in the power supplies market, approached the management team, offering them the benefits and security associated with the business becoming part of a larger group.
· Following a stalemate in discussions between the management team and a French broker representing the acquirer, Avondale was instructed to negotiate the sale of the business on behalf of the vendors. Avondale overcame barriers between the two parties, caused by language, cultural, legislative and fiscal differences, in order to reach an acceptable deal.
Printing Company
Established in the 1950’s the business has steadily grown to become a highly respected general printer, undertaking the majority of all print and finishing (up to B2) in house. The organisation’s reputation for quality, reliability and competitive pricing has attracted a wide range of long term clients.
K&N Press were purchased by Impress Print Services for an undisclosed sum. Avondale put both parties together and negotiated a deal that suited all involved. The print sector remains a tough environment to trade in and consequently deal making within the sector throws up many challenges. The combined business now turns over c.£6M, with some economies of scale and cross selling opportunities Impress is set for increased growth and profitability. The principal Vendors are working within the business for a period of two years post sale.
Property Maintenance
North West England · Property Maintenance.
· Northwest England.
· Turnover £1.2M.
· Multi discipline Local Authority, Commercial Lettings and private work
· The vendors established the business immediately after completing their apprenticeships.
· Having grown the business over two decades, the vendors aim is to concentrate on a new business that is completely change from construction.
· Sale.
· The company owned a number of freehold properties. Avondale were able to find a purchaser willing to acquire the properties along with the company thus avoiding the complicated process of extracting the freeholds from the balance sheet.
· 5 months.
Quantity Surveying Business
South East Sold to another Quantity Surveying Firm operating in an allied field.
The business was sold for £1 million to enable the owner to take early retirement after providing a handover and consultancy period to the purchaser.
Recruitment Agency
London This one branch recruitment agency located in Central Agency was owned by two ‘hands on’ Vendors looking to retire. The business placed both temp and perm candidates from admin support staff to senior managers. Turnover was £3M with Net profit of £400K (prior to the vendors drawing a salary). Turnover was declining but the vendors felt this was solvable given affiliation to the ‘right purchaser’. Avondale identified a suitable purchaser - an industrial recruitment specialist looking to expand into other sectors of the recruitment market with greater margins.
The business was acquired for £1M with 70% cash paid on completion and 30% payable after 12 months and related to the performance of the business over the 12 months. The earn out was achieved before time.
Refrigeration Business
South West Avondale successfully sold a refrigeration business (Import, Wholesale & Distribution) with a unique product range imported from five European countries. It has a large and varied client base, impressive logistics and a flexible and experienced workforce. Orders are traditionally taken via a network of contractors around the UK though the business has recently developed its own direct sales website.
The substantial stock held in the company’s very large warehouse has mitigated against profitability in the last few years and a retirement sale meant that the vendors wanted to find a buyer who would purchase the stock, assets and staff and take the company into a successful future. The purchasing company has a much larger operation in the same sector and the acquisition was part of its strategic plan. The vendors are delighted with the structured takeover and planned turnaround which will be driven by their management team, as they move into retirement after a short handover.
Scientific Instruments
UK •A scientific instrument business located in the U.K. with global business connections.
•The business was a leading U.K. design, manufacturer and supplier of both specialist and bespoke high vacuum systems and scientific instruments.
•Turnover £2.5m
•The business had been established and remained as a family firm for over 30 years. The managing director wished to relocate to New Zealand.
•A considerable amount of scientific knowledge and intellectual property resided with the outgoing family. Avondale were able to introduce a suitable acquirer and ensure a smooth transfer of industry specific knowledge.
•Due to the complex nature of the business the project took 2 years to complete
Security Alarms & Maintenance
South East • Avondale are pleased to announce the sale of a South East based Security alarms and maintenance business. The business was instructed for sale to enable a semi-retirement with the new owner now working with the buyer on a part time basis.
• The client base was strong including banks, colleges and large retail clients. There is some small private client work but most is commercial. The Business was acquired by a £6 million turnover South London based business with a number of different divisions including security.
• The Business is to be relocated on sale giving the buyer economies of scale and synergy.
• Acting as sole agents, Avondale arranged over 11 viewings, created a competitive environment with three offers and achieved a sale in under 4 months from start to finish.
Solar Power & Electronics
South England •Solar Power and Electronics - encompassing solar energy, batteries and marine radar technology. The businesses expertise incorporated manufacture, repair, distribution, sales, hire, design and installations.
•Turnover in excess of £1m with high operating profits circa £400,000.
•Located in the South of England clients were serviced globally ranging from multi-nationals, utilities, OEM’s, blue chip and private clients.
•The vendor had joined the company in the late 1980’s as an equity partner, subsequently acquired full ownership and expanded into new markets. The sale was to enable the owner to achieve a lifestyle change and pursue other interests.
•The business contained significant technical expertise, an effective handover of which was made from the introduction of Avondale by a private buyer with use of a venture capital support.
•Avondale were able to achieve a premium price to the anticipated value through an exhaustive elimination process of prospective acquirers.
Specialist Anodisers
South East The family had founded and run the business for 35 years and were seeking to retire without any family succession. The turnover was £1,275,000. Avondale successfully marketed the business to purchasers from multiple backgrounds providing solid advice and accessibiity at all times. The business was sold for an undisclosed sum to the full satisfaction of both vendor and purchaser.
Spring and Contortion Manufacture
North London Home Counties •Turnover: £2,000,000.
•Adjusted NP: Approx. £75,000.
•NAV: Approx £750,000.
•Reason For sale: Retirement.
Business details:
•A well established spring and contortions manufacturer, seeking a non-trade buyer with the intention of continuing to run the business from it's current location.
Avondale's role:
•Building the transaction team; a recommended solicitor was engaged at an early stage.
•Identifying the purchaser (in this case from the internal Avondale purchaser database).
•Negotiating the win/win deal price, structure and handover.
•Ensuring ongoing advice, dialogue and commitment through the legal process.
•Leading the transaction that completed 9 months after mandate.
Training
North West •T/o circa £1million.
•Training providers of NVQ and Modern Apprenticeship in Administration, Customer Service, Retail, Hospitality, IT, Catering, Distribution & Warehousing and Call Handling etc. Primarily funded by the LSC (Learning Skills Council).
•The Company was established by two individuals in 1996. The Vendors had a vast amount of experience as training providers working for other businesses and decided to take the opportunity to work for themselves.
•The Vendors set themselves a 10 year objective to sell the business and are now looking to further develop their property portfolio.
•100% Share sale
•Acted as hub for negotiations and structuring of a deal that suited both Vendors and Purchaser. Controlled legal input and drove timescales ensuring successful completion.
Vehicle Hire
SE. England • Turnover £2.5m
• The business supplied a modern range of vehicles ranging from 600kg vans through to 44 tonne tractor units. All vehicles are provided on a self drive basis with the majority of custom being generated from a varied clientbase of corporate customers.
• The Vendors owned the Freeholds but wanted to sell the business whilst retaining the freeholds. The business had been established for 25 years and really needed new blood in order to move it into profitability. The purchaser was already in an associated trade and saw the synergy and was able to add to both profit and turnover to each others client base.
Warehouse and Distribution
South East •Turnover of £2.8m with adjusted net profits of around £200k. Net Asset Value of approx £600k.
•This very customer focused business competed on it's reputation for providing a second to none service that competitors found hard to compete with.
•A high level of interest was achieved through targeted research, and introductions lead to several potential purchasers pursuing their interest to an advanced stage.
•Avondale achieved a sale value of £1.2m on par with the consultants valuationt.
•As part of the negotiation, one of the vendors was retained in the business on an ongoing basis in a senior role, assisting the new Managing Director.
Wholesale & Distribution
SE. England Avondale are pleased to announce the sale of a South East based Distributor of Office Supplies. The business was instructed for sale to enable the retirement of the two owners, who are working alongside the buyer for a three-month handover period. The basic office supplies division had a strong and loyal customer base, but considerable growth potential was offered by two recently formed and flourishing printing and furniture divisions which offered good synergy with the purchasing company. The business was acquired by a £16 million turnover Office Supplies Distributor looking in particular to grow their furniture division.
Prior to instructing Avondale, the vendors had been approached by other companies in the sector but considered they might do better on the open market. Acting as sole agents, Avondale created a competitive environment and achieved a sale at 37% above the vendors’ initial expectations. "I would be pleased to provide a verbal reference and rest assured I would give whoever called a ringing endorsement. Thanks for everything." FB
Wholesale Wine Merchant
SE England With a turnover of £2.5m, the business imported and supplied high quality wines to the restaurant trade. Its USP was to - provide consultancy service to organise and manage complete wine list with bespoke labelling and bottling so that wines appear unique to each outlet. The vendor had enjoyed the entreprenuerial side of establishing the business but now that it was successful wanted to devote his time to other interests.
Workwear Business (south East)
•The business imported clothing from Europe, Far East etc. Personalised product, and supplied clients from top to toe. The business traded very simply with few staff and systems in place. However a large PLC in a related industry (not competitive) saw the opportunity in unrolling the formula to a wider audience.
•The Vendors of the business were pivotal to the future success and consequently the deal was part cash on completion and part performance payment over 24 months. The business was making approx £300K net profit per annum (having paid the vendors) the sale price was £1.1M on completion to include net assets of £400K, with further potential to achieve an additional £400K over a two year period (an elevator deal). The vendors remained as salaried MD’s of the newly created division.
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