Opportunity to acquire a manufacturer of composite components, in Hampshire
Acquisition opportunity
BK Plus brings to market the opportunity to acquire a manufacturer of composite components. The company has spent years developing cutting-edge composite manufacturing methods and focuses on the use of carbon fibre and resin infusion, which enables custom-made and low volume parts to be manufactured for the renewable tidal energy sector, marine industry and the defence sector.
The company makes use of the industry’s latest tools and techniques and has unencumbered plant, machinery, equipment and stock consistent with its trade. It also has a customer base which includes blue-chip companies.
The company operates from 22,000 sq. ft leasehold premises in Hampshire comprising of 37m x 16.5m of open workshop floor space with offices, as well as a secure and self-contained yard with a skilled workforce of 18 employees.
Reasons for sale
Whilst the UK government initially backed tidal energy as part of its flagship renewable energy auction scheme, due to a change in policy, the commitment to provide a minimum allocation for wave and tidal stream technologies did not materialise. As a consequence, the company’s primary project was halted.
Whilst the company has managed to diversify into other sectors and has current orders (including long term orders) of substantial value, other project delays and the loss of a project have caused the company to fall behind in its payments to HMRC, trade suppliers and other creditors.
| Financial Information | Management accounts p/e 01.02.23 – 06.11.23 | Statutory Accounts y/e 31.01.23 £ | Statutory Accounts y/e 31.01.22 £ | Statutory Accounts y/e 31.01.21 £ |
| Turnover | 634,983 | 883,428 | 578,004 | 894,284 |
| Gross Profit | TBC | 283,386 | 133,410 | 158,766 |
| Gross profit % | TBC | 32.1% | 23.1% | 17.7% |
| Operating profit/(loss) | TBC | (199,422) | (125,595) | (232,844) |
The Process
Please note that this is an accelerated opportunity which could result in a sale of the company, or its business and trade assets via an insolvency process. The opportunity could also be removed at any stage. Please register your interest as soon as possible. All interested parties will be required to sign a non-disclosure agreement (“NDA”) before being given access to additional information. Offers must be submitted in writing and accompanied by proof of funding, on or before midday on Wednesday 15 November 2023.
Register Interest
Contacts
All contact on this opportunity should be with:
