Property Descriptions

Ref No: GP230 Berkshire Asking price: £1,800,000 + Net Assets Business highlights include: Turnover: c. £2,900,000 (2023 accounts) Adjusted EBITDA: c. £560,000 (2023 accounts) Net assets: c. £800,000 (2023 accounts) Vehicles sold to be agreed at value approx. £2m Very successful business with high development & growth potential Long Term client relationships Over 20 years of successful trading Clients predominantly local councils Loyal & reliable employees VOSA License for PSV- Private hire licensed with Local Authority 1-3 year council contracts Fully managed Business Profile This business was set up by the vendor over 20 years ago and has grown in that time to become well established and profitable. The business specialises in ostensibly offering what is proven to be class leading transportation services for schools and is regarded as a market leader by these Council clients. The business stands out and the vendor has successfully established a brand within the local area that can be developed further to the next level. The company operates in two key areas being school transport & Private hires and has established itself at the forefront of the sector and has earned an enviable reputation that has resulted in long term loyalty from its valued client-base and continually invests in its recruitment to ensure that it maintains its position as one of the most advanced and comprehensive providers in the marketplace. School transport The company’s drivers and passenger assistants are fully trained, enhanced DBS checked and fully licensed by the local authority and all will have had a rigorous interview to ensure the safety of all passengers. Drivers also have comprehensive training including, Safeguarding, First Aid, MIDAS (Mini Bus Driver Awareness Scheme), PATS (Passenger Assistant Training Scheme). Within this category is also transport services for vulnerable and/or at risk persons which the company provides to the same council clients. The company operates under a Public service vehicle operator’s licence issued by VOSA and a Private Hire Operators licence issued by the District Council and owns & operates a fleet of modern vehicles that are dedicated to school and social care transport which are ordered and purchased specifically to each client’s requirements. The vehicles vary from Cars, MPVs, 8 str minibus & Wheelchair minibuses, As well as PSV Minibus & Mini coach from 16 seater to 37 Str. The client community for served is made up of local and district councils providing for reliable and recurring contracts, making this business an ideal long term prospect with extreme growth potential. Private Hire- Airport Transfers A small percentage of the company’s trading relates to airport transfers, with Heathrow Airport nearby this is a natural service to offer for such a successful transport business though it remains a largely unexploited aspect and one that certainly presents an opportunity for the future. The business is very sucessful and highlights include: Loyal long term clients The business has been around for over 20 years and is a solid repeatable business opportunity The business has untapped potential and is highly scalable Comprehensive client and service product knowledge Solutions to complex travel requirements Very strong client relationships Wheelchair Travel The business is managed by the management team who benefit from a very efficient management system and are fully conversant with the business’ techniques and methodology and more than capable of enabling a new owner to successfully maintain continuity of trading. The business also provides wheelchair transport with friendly and dedicated drivers, minicoach services and wedding & chauffeur hire services; all of which add to the possibility for future growth of the business for a new owner. Equipment: The business has a comprehensive stock of equipment and facilities; a full list is available by request. Customer Service: Management staff manage the clients on a day to day basis. Growth and Expansion: The vendor has managed this business according to the demand made upon it and is highly confident that a new owner could exploit the current demand for significant account growth. It is also believed that the current reputation of the business supports the acquisition of new clients. Employees: The more than 150x staff understand client requirements profoundly and their service knowledge means that the business can react in the quickest possible time to any sudden need and for immediate impact. Management staff are located in two offices and manage all day to day activities. Staff include: 2 Managers – 1 runs each office 2 transport and admin staff at Coach depo 2 x mechanics 1 x car wash staff 2 x account & bookkeeping 3 x admin staff at Regus All staff are highly experienced and a real asset of the business. Premises: The business is managed from two locations, one being dedicated to management and administration and is a small office with flexible arrangements and is easily relocatable. Nearby are the main premises which consist of a large yard of circa 1 acre, accessed via a discrete private road with: Offices toilet facilities break-room 2x large workshops Vehicles The business runs a comprehensive fleet of more than 100 x vehicles from cars, MPVs, 8 seater Minibuses, Wheelchair tail lift minibuses and MINICOACHES in its fleet and a list is available by request. Business Hours: Monday – Saturday 7:00am to 5:00pm. Financial Information: The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler. The business invoices local authorities on a monthly basis and all invoices are settled within 30 days. Turnover: c. £2,900,000 (2023 accounts) Adjusted EBITDA: c. £560,000 (2023 accounts) Net assets: c. £800,000 (2023 accounts) Reason for Sale: The vendor is reluctantly selling due to family commitments and now plans to retire. Support and Training: The current owner would be happy to provide full training and support at handover. Asking Price: The Asking Price of offers in the region of £1,800,000 plus net assets is for 100% of the issued capital of the company, assuming net assets of circa £2,000,000 on completion (calculated on a zero cash-zero debt basis). The final selling price will have a £1 for £1 adjustment for any rise or fall in this benchmark net assets figure of £2,000,000 at completion.