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the UK marketplace for company sales

AI-enabled speech-to-text solutions

Reference
S11946
Turnover
£2m to £5m
Sector(s)
Service industries, Technology
Region(s)
UK Wide, Outside UK
Added
16 September 2024

Business description

innovative technology, which is integrated in organisations across the public and private sectors.

The feature-rich solution is driven by a combination of transcriptionists and AI; the business is ideally positioned to capitalise on further AI advancements.
The company offers transcription, translation, captioning and associated services,
operating as an all-encompassing provider of sought-after speech-to-text solutions.
Our clients are now offering the business for sale to facilitate their retirement
plans. Offers invited.

Highlights

  • Provides services across sectors such as medical, legal, academia, corporate and data migration. 
  • Primarily operates in the UK; strategy in place to enhance uptake across other English-speaking regions, including Europe and the US. 
  • Lucrative preferred supplier agreement has been extended, and many client relationships have been retained for over five years. 
  • Well placed to take advantage of opportunities within the transcription industry, including the forthcoming European Accessibility Act. 
  • Overseen by proficient directors who operate autonomously with little input from the shareholders; management team is fully capable of moving the business forward. 
  • Operates from leasehold office premises in Northern England.

Financials

Turnover (£'000) Adjusted EBITDA (£'000)
2021 (Actual) 951 164
2022 (Actual) 1,558 330
2023 (Actual) 1,811 451
2024 (Actual) 2,524 670
2025 (Forecast) 2,701 698
  • Generated a YE24 turnover of £2.5m, with an adjusted EBITDA of circa £700k.
  • Forecast to achieve a turnover of £4.6m by YE27, with the adjusted EBITDA expected to increase to £1.5m. 
  • 70%+ of revenue is secured from the buoyant medical and healthcare industry. 
  • In excess of 84% of clients provide repeat business through licence agreements and ongoing requirements. 
  • All clients are retained on contracts, and 35% of the turnover is attributed to exclusive and / or preferred supplier agreements with prestigious clients. 
  • Strong pipeline worth £290k, and five prospective clients that are anticipated to generate a combined £275k per annum.

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