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Freehold Independent Steel Stockholding And Trading Company For Sale

Cork City, Cork
Asking Price:
€1,795,000
Turnover:
€2,504,935
Net Profit:
€65,926

Major Supplier of Steel Products Freehold, Independent Steel Stockholding & Trading Company

Long established and with an excellent reputation, this business is an independent home grown stockholding and trading company. The business has grown significantly in the past few years and has developed a fantastic brand name. Levels of stock have been maintained, even in the most competitive of conditions.

Started in 1990, the business supplies specialist steel specifications and stocks an extensive range of the highest quality engineered steel products, including a full range of carbon and stainless steel pipe, fittings, valves and flanges, stainless steel sheet and a full range of mild steel plate and sections, universal beams and columns, and much more.

The business is a major supplier to the following industries: Pharmaceutical, Dairy, Brewing, Refrigeration and Petrochemical.

The reputation of the company has been built by the current owner along with the teams expertise both fully supported by in-house technology. Specialists in non standard items across the range of made-to order- products, the business provides expert advice, drawing on the knowledge, experience and technical expertise the business has of the steel industry.

Customer Service:

One of the major features in the company’s growth and success, apart from the quality of the product, is the importance of good customer relationships, which enables it to maintain a first class service.

Key Strengths:

Well established and profitable, this business supplies carbon steel, mild steel, aluminium and galvanised steel products. Known for its ability to complete large and small products, the business retains a high level of repeat business, particularly among a number of high profile Blue Chip clients who return on a regular basis. These customer relations are founded on a history of trading satisfaction.

Financial profile:
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 has shown a consistent improvement in profits over the last few years, as shown.

Turnover for the last financial year 2015 circa €2,504,935
Gross profit c.€626,592
Net Profit c €65,926

Property information

Real Estate:

Real Property Included

Location:

The business is centrally located on an industrial estate in a modern and progressive town.
The premises are freehold and included in the asking price of the sale. A brick built structure of steel portal frame construction; the premises contain a ground floor warehouse of circa 7,000 sq ft with trade counter facilities, staff kitchen and toilet. To the front of the accommodation there are roller shutter doors and a personal entrance door into an office. The forecourt has plenty of parking spaces.

Business Operation

Expansion Potential:

Further growth could be achieved with more capital injection, possibly extending the premises and undertaking more marketing to allow the business to reach its full potential. This growth could also be achieved within the current structure, by continuing to build on the principles laid down by the management team. The current owner suggests that recruitment of further staff would encourage future sales growth.

The business turnover continues to grow and the forecast is for another year of increased growth.

Competition / Market:

The business has relied solely on its well respected name and word of mouth recommendation and found no requirement for advertising, apart from the company website which provides excellent details regarding capabilities and products provided.

Reasons for selling:

Following many years of successful trading, the vendor is now ready to retire and anticipates that more investment from a new owner will take the business to the next level

Trading hours:

Monday – Friday: 9am – 6pm

Employees:
There is a high level of continuity of quality local staff, which ensures maximum customer confidence, and a high level of customer service. Second to none, the employees have developed long established relationships with key accounts clients. The strength and reputation of this business is supported by a loyal workforce, which comprises of the owner plus 4 full time staff inc. 1 general manager, 1 store person, 1 administration/ P.A and a truck driver.
Years established:
1990

Other Information

Support & training:

The owner would be happy to provide support and training to help with a smooth transition of the business.

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