Cowgills are instructed to seek a buyer for a 40-year old secure courier and storage business.
The company employ 23 staff, of whom 13 are drivers, three work in the warehouse and seven look after administration.
The company is based in the northwest of England, operating out of leased premises with approximately 20,000 square foot of secure storage and 2,500 square foot of office space. The high security warehouse has been specially developed to store highly sensitive items safely, with high tech door entry systems, intruder alarms, smoke bombs, CCTV etc.
The company’s fleet of vehicles from small to large are particularly well serviced and maintained, however the bulk of the vehicles are subject to long term contract hire or lease purchase agreements.
The workforce is understood to be security cleared and experienced in the movement of classified, highly sensitive data and suchlike.
Historically, the company’s turnover has been around £1.8m per annum, with a gross profit in the region of £500,000 and a net breakeven, however in the calendar year of 2018, turnover will be a little higher.
The company has a key customer who currently accounts for a little over 50% of total revenue. The company anticipate that contract may be lost when it comes to an end around Q1/Q2 of this year.
This business opportunity will ideally suit a company already operating in the industry looking for a northwest physical base and/or a workforce with experience in this particular industry sector.
The company is expected to be placed into administration shortly, which means a buyer will need to act quickly, with a view to contracts being signed within the next seven days or so. There is no formal deadline for bids because if an acceptable offer is received, we would like to be in a position to accept same immediately, however we would further advise that if we do not have an acceptable offer by early next week (on or around Tuesday, 15th January 2019) it will most likely be too late to conclude a sale.
Interested parties should contact firstname.lastname@example.org or telephone 0161 998 8111 at their earliest convenience.