ACQUISITION OPPORTUNITY – PROJECT GOLD
Fourth generation professional auctioneers and valuers
The opportunity to acquire the business and / or assets of a business located in the North-East that specialises in the processing and recycling of ferrous and non-ferrous scrap metals.
Overview
Project Gold offers a rare opportunity to buy the business and / or assets of one of the North East’s leading specialists in processing and recycling of ferrous and non-ferrous scrap metals.
A business with a prestigious history and a blue-chip customer base as well as multiple accreditations.
Project Gold operates from multiple sites across the North-East.
Key features
• Turnover of £20.1m in the year to 31 March 2021, £19.3m in the year to 31 March 2022 and £17.3m in the year to 31 March 2023,
• Experienced workforce comprising 36 members of staff,
• Long-established customer base,
• Operates from multiple leasehold sites,
• Industry accreditations, including, BIR member, BMRA and NQA quality management
• Specialist Recycling Equipment in situ (subject to Hire Purchase)
Assets for sale
• Goodwill
• Work-In-Progress
• Motor Vehicles / Trailers, both encumbered and unencumbered.
• Plant and Machinery and Office Equipment, both encumbered and unencumbered
• Stock of metals, scrap metals and other materials
• Customer Database
• Website
Summary financial information
| £’000 | FY21 Statutory Accounts | 12m period to March 2022 Management Accounts | 12m period to March 2023 Management Accounts |
|---|---|---|---|
| Income Statement | |||
| Turnover | 20,103 | 19,304 | 17,284 |
| Gross profit percentage | 1.2% | 7% | 4% |
| Operating Profit / (Loss) | (1,772) | 1,281 | 366 |
| Statement of Financial Position | |||
| Fixed Assets | 3,489 | 2,850 | 3,522 |
| Current Assets | 7,776 | 6,390 | 7,778 |
| Net Assets / (Liabilities) | 142 | (1,779) | (1,764) |
Process
Further information can be obtained from KBL Advisory on completion of a standard non-disclosure agreement. KBL Advisory is requesting indicative offers, supported by proof of funding, by 4pm on Friday 18 August 2023, with a view to completing a transaction as soon as possible thereafter.
We reserve the right to close the bidding process early or extend the deadline for indicative offers without liability or advanced notice.
All correspondence in relation to this opportunity should be directed to KBL Advisory as follows:
Lauren Gage / Amy Lowden
KBL Advisory Limited
Tel: 0161 637 8100
Email: Lauren.gage@kbl-advisory.com / Amy@kbl-advisory.com