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Manufacturer of Agricultural, Mining and Industrial Equipment

PROFILE
Description:		The business was started in 1997 to service the agricultural industry with new technology for farming practices, initially in the Western Cape. They were also involved in pioneering purpose machinery, developing methods to apply practical technology on farms. They followed up and built an internationally renowned Harrow under license from Australia. The business has stayed up to date and informed on best farming practices as the zero till technologies have developed over time, adding in their own product line best suited to the harsh soil conditions of the Western Cape.
Industry / Sector:		Engineering - Manufacturing

LOCATION
State / Province:		Western Cape RSA
City / Town:		Agricultural producing area
Location / Area:		Industrial area
Portability:		Disruption and costly to relocate, but current premises are not suitable

PRICE
Asking Price:		R 21 000 000
Conditions:		Price includes fixed assets valued at R2,5 million and stock of R8 million.

FINANCIAL & OPERATING INFORMATION
Turnover:		R 2 000 000 per month
Profit:		R 303 750 per month
Annual Return:		17 % per annum
No. of Staff:		30
Year Established:		1997
Legal Persona:		Close Corporation
Other Information:		GENERAL INFORMATION This manufacturer also successfully designed and fitted new production lines in a canning factory and a flour milling factory. On completion they have received new enquiries for similar projects, one of these quotes has been accepted and resulted in increasing sales the last 2 years. The premises are 1,000m² in extent and the current lease period has a three year renewal option. They have recently been approached with new concepts in the mining industry and the company and the founder managed to turn the concept into a functioning product that has been patented world-wide. (The next step is negotiating a manufacturing contract with this company in order to manufacture their product or parts thereof). FINANCIAL INFORMATION Detailed financials will be made available to approved buyers in terms of the signed confidentiality agreement (NDA) and all the information can be verified. The financial information reflected above is based on turnover, gross profit and EBIDTA extracted from the 2023 Management accounts. The SWOT ANALYSIS and detailed notes regarding 2022 and 2023, will be provided in the evaluation pack that is available subject to approved buyers. POTENTIAL The seller is prepared to initially dispose up to a 51% (or higher) controlling interest; to either an individual or a corporate that probably operates in a similar industry. They are well positioned to go through a phenomenal growth phase in the next few years. They have taken many products through their R&D development phase right up to a successful production line and the well-recognized brand that stands for affordable, quality and longevity. Being solution orientated their products are continuously reviewed and improved as market feedback is received. REASON FOR SELLING The seller is planning retirement - envisaged between 1 to 2 years. THE OFFERING The founder and shareholder would like to retire within the next year or two. To achieve this, he is prepared to initially sell a controlling shareholding and structure an agreement to sell all of his shares over a negotiated period. HANDOVER The handover period will include finalising terms of a continued consulting contract with the seller to facilitate transferring the design, knowledge, innovation and his expertise. All of the arrangements will be subject to the terms of the sale of shares agreement. PROOF OF FUNDING REQUIREMENT Interested parties MUST be able to demonstrate that they have access to the required funds to finance a cash transaction purchase. In terms of the broker's mandate, the Seller will not entertain any discussions, or consent to provide any details or documentation; or accept any offer unless you first meet this criteria. The potential buyer will need to provide proof of these financial requirements in the initial enquiry. CONFIDENTIALITY FULL DETAILS WILL ONLY BE PROVIDED BY THE APPOINTED BROKER SUBJECT TO SIGNING A CONFIDENTIALITY AGREEMENT (NDA), COMPLETING A BUYER PROFILE FORM AND SUBMITTING THE REQUIRED FORMS TO THE BROKER. DISCLAIMER REGARDING INFORMATION No representation or warranty, express or implied, is given as to the accuracy or completeness of the contents of this profile. The only representations and warranties that will be made are those that may eventually be included in a definitive agreement to the proposed sale of the vendor's interests in the business. Neither this profile nor any of the information contained in it shall form the basis of any contract for such sale, nor does it constitute an offer, invitation or inducement to purchase or acquire any shares in the business or any interest in it.

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Record ID: 2864

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