This well-established business is 73 years old and is a third generation family business. The chairman and one of the owner’s wish to retire hence they are interested in selling off the manufacturing division. The business has two key manufacturing lines, including a lawnmower range and a fire-fighting range, with local and export markets. The firefighting equipment is manufactured mainly in winter and lawnmowers are a summer product.
The sale includes stock and work in progress which is approximately for +700 lawnmowers. The option of staying in the premises or moving to a new facility could be considered in this case. Ideally the new owner could move in and take over all stock and assets immediately, this will ensure a seamless transition. The property itself is a separate entity but could be part of a discussion with potential interested parties.
The total coverage of the building is 3800sqm and it is valued at R 11 million. With excellent access to the freeway and well positioned for distribution in any direction in SA. The owners are willing to stay on for a period to ensure the new owner is properly trained through a handover.
The asking price excluding the property is R 6,200,000.00 with a 21% profit margin. The total selling price including the property is R16,200,000.00 negotiable.