Established in the mid-1980s, Project Wanderer provides B2B clients UK-wide freight and distribution services, along with warehousing and fulfilment, which provides repeat business making up c25% of sales, which has been increasing steadily over the years.
From its 35,000sq ft base located well to the north of London but within easy reach, the company provides a nationwide service and is a member of a transport network which enables it to provide a truly national service on a competitive and efficient basis.
Sales are c£3.6m, with an Adjusted EBITDA of c£230k.
The company has an excellent reputation and client retention record. Secondary management is in place and the company employs 29 people, many of whom have been with the business for well over 15 years. It also retains the services of a Fractional FD. The business is run by a Managing Director who is a minority shareholder and has been with the company since inception.
The founder, who has not worked in the business for over 10 years, is looking to capitalise his shareholding and the MD, who is supported by a management team, would be happy to stay for an agreed term post completion, if it suits both parties.
| Turnover (£'000) | Adjusted EBITDA (£'000) | |
|---|---|---|
| 2023 (Actual) | 3,600,000 | 230,000 |
The Adjusted EBITDA allows for replacement management where appropriate. We understand FY2024 will be similar to FY2023.
FY end December.
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