Project Compass – Business and assets offered for sale of a warehousing and logistics provider based in London and surrounding areas

Sale Type: Business Sale
End date: 13th September 2019

On behalf of the proposed Administrators of Project Compass

Contact: David Fletcher
T. 01442 832234
E. david.fletcher@wyleshardy.com

Category:

Description

Background/Overview
Opportunity to acquire in whole or part the business and/or assets of a Company providing warehousing and 3rd party logistics services for premium health and beauty brands. Established for nearly 40 years, it offers a ‘one stop shop’ for warehousing, providing facilities and services for storage, picking and packing, boxing and carriage.
The revenue streams of the Company are split 75% “Business to Business” and 25% “Business to Customer” markets both nationally and internationally.
The Company operates from seven decentralised leased warehouses covering approx. 230,000 sq. ft. in London and the South East, and employs approx. 320 dedicated staff.
The Company boasts a number of long standing customer relationships with high profile brands, in addition to an experienced and long serving management team.

Financial Summary
Across the various service lines, the Company achieved a gross turnover of c. £15.4m for the year to August 2017.
The full accounts for FY19 are not yet available; however, it is expected that the accounts will show a c. £19m turnover, with a similar forecast for FY20.
Business/Assets
Assets include :-
7 leased warehouses/units;
Plant, machinery, equipment and motor vehicles, subject to Hire Purchase;
Unencumbered, machinery, equipment and office furniture.
Trade debtors currently c. £3.5m (subject to a CID facility);
Goodwill of the business to include the Company brand/name and website, contacts and Work in Progress.

Opportunities
An excellent opportunity to acquire and/or consolidate within an existing business and exploit the customer relationships already in place.

Process and Further Information
All interested parties will be required to sign up, create an account at: https://datarooms.frpadvisory.com and sign a non-disclosure agreement before receiving more information via access to a data room. You will need to email Julie Humphrey, Nigel Strike, Jason Catley or Alexandra Thurgood so they can activate your data room access.

Expressions of interest with offers should be sent directly to Julie Humphrey, Nigel Strike, Jason Catley or Russell Atkins by close of business, 6 September 2019. Please note, completion of the sale transaction(s) is required by 13 September 2019 and it is therefore imperative that due diligence should be conducted as a matter or priority.

Offers are being sought for the trade, business, assets and goodwill through an Accelerated Merger & Acquisition process, via an Administration “pre-pack”.

Should you like to discuss the opportunity please call Julie Humphrey, Nigel Strike, Jason Catley or Russell Atkins at FRP, details as below.

 

Julie Humphrey – Director:

Julie.Humphrey@frpadvisory.com: DDI: 01277 503304

Nigel Strike – Senior Manager

Nigel.Strike@frpadvisory.com DDI: 01277 503311

Russell Atkins – Manager

Russell.Atkins@frpadvisory.com DDI: 01277 503303

Jason Catley – Insolvency Administrator

Jason.Catley@frpadvisory.com DDI: 01277 503351