Stirling was recently contacted by the owners of a precision engineering business, based in Worcestershire as they were looking to sell for retirement purposes. Following some negotiation on terms of business, the engineering business initially received an up to date valuation report which was prepared independently but organised by Stirling. We then then set about marketing the business for sale which was a well established precision engineering business with a range of CNC equipment capable of handling a wide range of materials for low to medium production volumes.
There was no shortage of potential buyers with a total of 24 found by Stirling within a matter of weeks. A deal was soon concluded for the £1m turnover business, for an undisclosed six figure sum. According to Roger Smith, (owner of Stirling) not only was a buyer found with the cash available but a second buyer was ready to try and reach a deal if the first one had fallen through! Roger commented “we generally have more buyers than sellers and within the last 12 months or so, we have seen an increasing demand from buyers looking to acquire well established engineering or manufacturing businesses – particularly those operating within niche markets”.
Being West Midlands based, Stirling tend to have their business weighted towards engineering and manufacturing businesses and Stirling provides a useful service to any business owner who wants to buy or sell a Company. Roger commented “we are the only Broker GTMA approved and we like to get results for our clients fast, with the option of guaranteed results, if you are looking at selling a business.”
Stirling’s client Alan Hopkins commented “Stirling Business Transfer Specialists provided comprehensive and quality based support. Their service covered an initial valuation of the business, followed by the preparation of a detailed sales memorandum. We received prompt information on parties who expressed interest in a possible purchase and a successful sale was completed at an acceptable price within a six-month period.”