Total of 18657 firms and businesses for sale today Friday 29th March 2024
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Sold. High Performance Uk Hand Tool Manufacturer/brand

LISTING DETAILS
Firms For Sale ID:
34166
Vendor reference:
JH029
Vendor website:
     
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BUSINESS DETAILS
Location:
Primary sector:
Secondary sector:
Asking price:
Undisclosed  
Turnover / revenue:
£900,000
Net profit / cashflow:
Undisclosed
Years established:
150
Trading hours:
Monday- Friday- single shift
Number of employees:
13
Employees / staffing:
The vendor is Managing Director and he works full time in the business dealing with day to day operations. He also liaises with some of the key customers. The business employs some 9 full time staff (including Production Supervisor and Customer Services Manager) and a further 4 part time staff. In addition to this the business also has key supply relationships with European and Worldwide manufacturing partners.

OTHER DETAILS
Reason for selling:
The vendor is planning his exit strategy. He also believes the business has reached the point where it requires a new injection of business acumen, resource and energy to take it throgh its next period of growth and maximise the many significant opportunities at its disposal.
Support and training:
The owner is happy to provide full business familiarisation and handover to ensure continuity of trading and a seamless transistion. He is prepared to stay on for a further period if so required, subject to negotiation.
Business is relocatable:
Yes
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
 
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BUSINESS DESCRIPTION
High Performance UK Hand Tool Manufacturer/Brand
Worldwide Brand & Customer Base
Ref.JH029
Location Midlands
Offers Invited
Established over 150 years ago this highly respected and very well known UK company manufactures and distributes highend quality hand tools to professional users throughout the world, under its own very well known and instantly recognisable brand name.
The company designs, manufactures, markets and sells its range of engineering hand tools to a whole host of customers mainly through its comprehensive network of authorised resellers and distributors, both in the UK and overseas. The company also has direct trade accounts with some of the UKs largest engineering and manufacturing companies. Approximately 85% of sales are within the UK with 15% being export/overseas. The company currently has some 500 active direct customer,s including large blue chip multinational organisations, buying groups, distributors and resellers.
The company has always focused on the top end of the market and its brand name and range is synonymous with quality. The company has built up a large and loyal international customer base who come back time and time again for new tools and equipment, such is its reputation for performance, price and reliability. The current product range comprises around 5,200 individual product lines including:
Wrenches Screwdrivers Pliers Socketry
Torque Hammers Bits/Keys Tethered Tools
Tool Kits Saws/Knives Tool boxes Electrical range
The vendor has spent huge amounts of time and capital in ensuring that this brands supply partners understand its place at the top end of the market. Raw material sourcing and the manufacturing processes are stringently monitored to ensure consistency and that all products exceed relevant European DIN standards. The vendor has recently set up several new supply agreements so that the business has duplicity of supply to prevent over reliance on any one supply/manufacturing partner.

Market / Competition / Non-Competition Agreements
The business has recently re-invested in a new informative website which it expects to help generate new sales moving forward, but this is very much in its infancy at present.. The company also has a suite of brochures and also attends several exhibitions each year.

There is the opportunity to do more marketing with several of the buying groups the company supplies but this has not been developed as yet. There are many other avenues to market the business but the vendor has simply not had the time to develop any of these to date.