A Managing Director and probably a Non-Executive Director or Chairman are required to lead a Management Buy-In team (MBI), to acquire a well established £950k turnover, £191k EBITDA Catering Equipment Co, based in the South East. 

The MBI team must demonstrate the ability to provide sufficient equity and debt funding to acquire the exiting shareholder’s 100% equity.

The company has strong growth opportunities.

1. The Company & the Product:

• The company has a turnover of £950k providing Catering Equipment into the following sectors: Public Sector, Care Home Groups, Schools, Churches, Synagogues & Hotels.
• Long-established name. The company has been trading successfully for two generations.
• Sales grew 21% last year and the trend is continuing this year. The performance of both projects and product sales was strong last year and this has continued into 2008.
• Gross margins are healthy and improving and profits were close to £200,000 last year. Gross margin has risen from 28% to 34% over the last three years and tight control of overhead costs produced a record profit of £191,000 in 2007.
• Forward orders are currently £200,000 and the Quotation Bank for projects currently stands at £1.5 million. This augurs well for the business’s performance in 2008 and 2009.
• The business has a good balance of customers across the Public and Private sectors and between Projects and Equipment Sales. It is an approved supplier of many local government boroughs and numerous contractors. The business is not over-reliant on any customer or group of customers.
• There is much scope to build the business based on an injection of new energy. The business with existing customers could be doubled and the Company’s limited marketing efforts do little to attract new customers.
• The owners wish to retire from the business and are seeking a buyer for 100% of its share capital.
• The owner does not intend to sell the premises with the business. However, if required, the company is prepared to provide up to 6 months occupation post sale to enable the new owner to migrate the business elsewhere.

2. MD & Non-Exec Chairman required for a Management Buy-In (MBI):

• We are seeking an MD and probably a Non-Executive Director or Chairman to form a Management Buy-In (MBI) team to take over the business.
• The ideal MD and Non-Exec candidate should have a proven track record of managing a comparable business and have the ability to provide sufficient equity (probably iro £150k) plus debt funding to acquire 100% of the business on completion. We can assist interested parties in arranging a funding package if required.
• Knowledge of catering equipment or related business will be ideal.
• An Information Memorandum is available but we will require a signed Self–Certification Statement or High Net Worth/Sophisticated Investor form in order to comply with the current Financial Services and Markets Act (Financial Promotion) Order 2005 (FSA) legislation plus our Confidentiality/NDA form. If you have not already signed these forms we will email them to you.

N.B. This specification should not be considered as a recommendation by the Shareholders, the Company or any of their respective subsidiaries, affiliates, representatives, partners, directors, officers, employees, advisers or agents to acquire the shares in the Company, and recipients interested in buying shares in the Company are recommended to seek their own independent financial, legal and other advice.

Our web site is: www.ffplacements.co.uk or www.NonExecutiveDirector.co.uk