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Description

C.A.M.S. is a quality long and well established business with a superb range of equipment for sale and to hire. The company has strong relationships with all major Guernsey builders as well as local consumers. Very profitable with high fixed asset value.

LAKEY & CO BUSINESS BROKERS (OFFSHORE) LTD.

*** Long and well established business in growth sector

*** Superb range of equipment for sale and to hire

*** Exceptional fixed asset value

*** Audited turnover of £410,887 last financial year

*** Gross Profit of £354,675 last financial year

*** Net Profit of £96,500 before depreciation, interest and drawings

The Business: We are very pleased to offer for sale, for the first time in 20 years, Guernsey's most comprehensive tool hire company, C.A.M.S. Limited. The business has built up an enviable reputation among the Island's building contractors, DIY enthusiasts, gardeners, plumbers, electricians, carpenters etc. for its quality of service and equipment. There is also an active domestic side supplying barbecues, carpet cleaners, dehumidifiers etc.

The Location: The business operates out of two depots in Lowlands Industrial Estate, Vale, and Les Amballes in St Peter Port. A new 9 year lease has just been negotiated at Lowlands at a rent of £39,120 per annum, the building occupying 5,703 sq. ft. Les Amballes is on a yearly renewable lease of £16,000 per annum.

The Business Operations: The company carries a huge range of equipment for almost every sector of the building industry. While most of the company's revenue is derived from the hire and sale of equipment, there is also an active repairs and refurbishment operation undertaking both in house and external repairs. There is a good opportunity to expand this aspect by acquiring additional work.

The company sources its equipment from mainly U.K. suppliers and has an exclusive arrangement with Bobcat, one of the most prestigious manufacturers of excavation machinery and related plant.

C.A.M.S. deals with all the Island's major builders, but has no customer accounting for more than 15% of the overall business. Currently, 65% of the business is in plant hire, 20% sales and 15% in repairs.

The Competition: There are two main competitors on the Island, but C.A.M.S. manages to compete most effectively with its high levels of service and choice.

The Administration: The computer administrative system used for the hiring of equipment is sophisticated and effective and tracks all hiring from collection to return.

The Staff: One member of staff, and one part timer are employed at Les Amballes which accounts for around 30% of the company's turnover, and six staff, including the principal, are located at Lowlands, handling 70% of the company's turnover including revenue from repairs.

The Finances: The net current assets of the company amounted to £250,733 at 31st March, 2006. In addition, our client estimates there is other equipment, not taken into account in the audited figures because it is purchased and written off in the same financial year, to the value of £300,000. Stock of saleable items was valued at £141,100 and will be subject to a separate negotiation and revaluation at the closure of the sale. All debtors, creditors and loans will be settled by our client prior to the sale.

The company achieved a gross profit of £354,675 in the last financial year, with a net profit before depreciation, interest and director's remuneration of £96,500.

Summary: Having built the business to its present stature over the last 20 years, our client is anxious to spend more time on his other commercial interests. He is more than happy to assist in an extended handover and training period if required. C.A.M.S provides a first class opportunity for an energetic entrepreneur or existing operator to drive the business forward in Guernsey's buoyant construction and DIY markets. It has experienced and long serving staff who relate extremely well to its customers. There are good opportunities to introduce new products and services to complement the already well known and highly regarded existing business.

The business represents excellent value at a price less than the total net current assets and discounts the goodwill, which we would value at £200,000, on the company's current level of profitability.


PRICE: £475,000, PLUS STOCK AT VALUATION


Viewing: No direct approach may be made to the business. For an appointment to view, please contact the Sole Agent, Lakey & Co Business Brokers (Offshore) Ltd. on 01481-258885.


DISCLAIMER

Lakey & Co draw the attention of prospective purchasers and those acting on behalf of prospective purchasers to the following:

1. These Particulars do not constitute any part of an offer or a contract.

2. All statements contained in these Particulars are made without responsibility on the part of Lakey & Co or the Seller.

3. None of the statements contained in these Particulars is to be relied on as a statement or representation of fact.

4. Any intending Purchasers must satisfy themselves, by inspection, or otherwise, as to the correctness of each of the statements contained in these Particulars.

5. Seller does not make or give, and neither Lakey & Co, nor any person in our employment, has any authority to make, or give any representation or warranty whatever, in relation to this transaction.

6. We have asked the Seller to provide copies of all documentation (including leases, lease hire and similar rental documentation, guarantees and leases) to the Seller's advocates where they are available. This information will be supplied to you by the Seller's advocates on request. In the meantime, we have relied on information provided by the Seller, and are not responsible for the accuracy of that information. Where information contained in these Particulars is fundamental to the transaction, you should notify us accordingly, and we shall endeavor to obtain documentary confirmation before you proceed further and in any event incur expenditure.

7. While these Particulars are provided in good faith, we are not surveyors or accountants, and we have not tested any fixtures, fittings, equipment, services or other facilities, and cannot say if they are in working order or suitable. You should rely on your own inspection and that of your surveyor. Similarly, you should rely on you own investigation of the accounts, and that of your accountant.

8. Property dimensions are given for guidance only, and you must satisfy yourself as to the accuracy of the measurements.

9. The ownership or use of fixtures, fittings and equipment may be subject to permission from or payment to other parties (e.g. landlords, hire companies, etc.)