Specialist High Performing Plastics Engineering

Ref: EY049
Location: Northern Ireland
Premises: Leasehold

Asking Price: Offers Around £260,000 + Net Assets.
Business highlights include:
Turnover circa £350,000
Adjusted Net Profit circa £56,000
Net Assets: Circa £43,000
Trading Name.
Leasehold unit in Business Park. (Relocatable)
Fixtures & fittings.
Equipment (tooling & moulds).
Goodwill.
Innovative product offering.
Efficient IT system.
Website.
Strong production network.
Material conformity/Compliance Certification.
Wide customer base across numerous industries.
Stock at valuation.
Significant potential for development.

Business Profile:
Established by the vendors in September 2001, this innovative and forward-thinking company recognised the potential to form a new category in the buoyant engineering sector and have established a successful and reputable business providing innovative engineering solutions to a wide range of industries.

The company specialises in the manufacture and supply of components produced from High Performance Plastics and have worked hard to promote the advantages of the High-Performance Plastic parts vs. traditional steel parts. Establishing a market for High Performance Plastic components and promoting a change in several industries from reliance on traditional materials (steel).

The large customer base ranges from engineering & manufacturing companies from original equipment manufacturers to large process manufacturing plants. These companies recognise the advantages and added value High Performance Plastic components offer. The business specialises in manufacturing components for machine building, process engineering, marine industry, civil engineering, pharmaceuticals and mining etc.

The business has developed a strong production network and good relationships with raw material producers and suppliers. They can provide Compliance Certification & Material Certificate of Conformity (COC), a regular requirement with many clients. There is potential for growth as many companies seek to source parts locally to alleviate import & transportation costs. The business continues to improve its network having recently sourced further semi-finished material producers.

The business has a superb reputation and benefits from a stable infrastructure, loyal staff and going forward has much potential for further growth and continued success.

Premises:
The business operates from leasehold premises in a central location. Convenient to the main roads network and within easy access of motorways & airports.

The premises include general office, warehouse and portacabin. The business operates by outsourcing production through the well-established production network therefore is fully relocatable.

Tooling & Design:
Significant knowledge, innovation and expenditure (vendor suggests circa. £100K) have been incurred in the continued development of successful designs, specific tools and moulding parts, which are the inherent value of the business.

Consistent investment in tooling has in the past been a precursor to repeat business. Developments in tooling most recently include the production of new moulds & a new design jig for a bespoke acetal product. This indicates continued growth going forward in the form of repeat business. Significant inroads have been made in the Scottish market these factors combined bode well for future projections.