The offered company is a midlands-based, privately owned business which offers car and van rental services to individuals and businesses for short- or long-term hire.
The Business has 205 rental vehicles that they own, rent or lease from its suppliers. The Business prides itself on having a new and up to date fleet of vehicles, with 87% of its vehicles being under 24 months old. The Business has a well spread customer base and has good relationships with their repeat customers, 81% of their rental income come recurring/existing customers.
The Business has consistently generated sales in the range of £1.8 million to £2 million. The Business’s profits have increased in recent years, this is largely attributable to higher vehicle prices due to current market conditions (higher profit on disposal), management expects that this increase in profits will be sustained in the short to medium term.
The shareholders want a full exit from the business and have invested in depot managers to ensure the day-to-day operations continue in their absence.
| Turnover (£'000) | Adjusted EBIT (£'000) | |
|---|---|---|
| 2010 (Actual) | 0 | 0 |
| 2019 (Actual) | 1,971 | 313 |
| 2020 (Actual) | 1,826 | 143 |
| 2021 (Actual) | 1,802 | 734 |
| 2022 (Forecast) | 1,986 | 849 |
The shareholders are now considering their retirement options and other endeavours, they are looking to realise the value that they have created to date
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