Buyers or Dreamers

I’m not sure whether it’s Brexit or mid-summer madness but we seem to be inundated with buyers who want to buy a business using other people’s money. Last week I had a crowd who claimed to have “access to PE firms to raise funds and won’t need financial support.” They made an offer of £2m to buy a business making a profit of over £600k pa and with nearly £2m of Net Assets of which £1m was in cash. But the offer was to pay £1m on completion and the rest over 4 years.  When I had the temerity to point out that their offer meant that they were only paying on completion an amount equal to the cash at bank figure and made no allowance for the goodwill premium, they got upset and called me unprofessional! Really? Do these people think that we are so stupid that we don’t understand highly financially engineered offers?

There is a worrying and growing trend that all sorts of people seem to think that they can buy a business by borrowing against its assets and then getting vendor finance for the balance. You can’t!! As I keep pointing out, why would a vendor lend what is effectively their pension pot to a complete stranger? At Turner Butler we are now pushing back hard against these sort of buyers, they are a waste of our and our vendors’ time. If you are one of them please don’t apply for a business being advertised by us, you will be given short shrift and even if you threaten me with physical violence (which has now happened on two occasions!) it will not make any difference.

About Turner Butler

Looking for a Business to buy? The Turner Butler service is free to buyers. Please visit www.turnerbutler.co.uk to see all our businesses for sale.

Looking to sell your Business? We would be pleased to carry out a free confidential business valuation for you. Simply telephone us free on 0800 028 9999 to arrange an appointment with an experienced business valuation expert.

Client Satisfaction is very important to us at Turner Butler. Do please take a moment to read what our satisfied clients have to say about us http://www.turnerbutlertestimonials.co.uk

Buyers or Dreamers

New-Pro Foundries Limited Recently Sold by Turner Butler !!

“And the BAFTA goes to Turner Butler!”…..Turner Butler is delighted to announce the recent sale of New-Pro Foundries Limited, the specialist casting foundry responsible for producing the BAFTA Awards each year, among many other bespoke products. “Our buyer was delighted to have acquired a business with such a prestigious client base” said managing director Rupert Cattell, “And our vendors were equally pleased to have retired from running a business that requires considerable skills and hard work in a challenging environment.”

About Turner Butler

Looking for a Business to buy? The Turner Butler service is free to buyers. Please visit www.turnerbutler.co.uk to see all our businesses for sale.

Looking to sell your Business? We would be pleased to carry out a free confidential business valuation for you. Simply telephone us free on 0800 028 9999 to arrange an appointment with an experienced business valuation expert.

Client Satisfaction is very important to us at Turner Butler. Do please take a moment to read what our satisfied clients have to say about us http://www.turnerbutlertestimonials.co.uk

New-Pro Foundries Limited Recently Sold by Turner Butler

Workwear , School Wear, Sportswear Supply Company Sold By Turner Butler

Turner Butler were delighted to handle the successful sale of this family run workwear and embroidery company based in Humberside. Having previously been on the market with another business transfer agent for well over a year with little activity and no real support the vendors turned to Turner Butler as they were impressed with the professional advice received from them and their proactive approach to business sales.

“I was surprised the previous agents had  so little interest in the business and was confident we would get a strong level of enquiries from day one having sold many similar  businesses within the workwear sector” stated the Turner Butler Regional manager…… “The vendor accepted a pleasing trade  offer for the business and negotiations where smoothly concluded on during May 2019.”

About Turner Butler

Looking for a Business to buy? The Turner Butler service is free to buyers. Please visit www.turnerbutler.co.uk to see all our businesses for sale.

Looking to sell your Business? We would be pleased to carry out a free confidential business valuation for you. Simply telephone us free on 0800 028 9999 to arrange an appointment with an experienced business valuation expert.

Client Satisfaction is very important to us at Turner Butler. Do please take a moment to read what our satisfied clients have to say about us http://www.turnerbutlertestimonials.co.uk

Workwear , School wear, Sportswear Supply Company Sold by Turner Butler

Recent Successful Sale Of An E-tailer Of Adult Toys.

Turner Butler has confirmed the recent successful sale of an e-tailer of Adult Toys. “It’s not every day that you get to sell a business like this” said managing director Rupert Cattell, “However it was very well run and very profitable.

I was astonished by how much interest we received and within only a few weeks of listing it we had signed heads of terms at the asking price. Both buyer and seller behaved exemplarily and it was a pleasure to have acted in such a straight forward transaction.”

About Turner Butler

Looking for a Business to buy? The Turner Butler service is free to buyers. Please visit www.turnerbutler.co.uk to see all our businesses for sale.

Looking to sell your Business? We would be pleased to carry out a free confidential business valuation for you. Simply telephone us free on 0800 028 9999 to arrange an appointment with an experienced business valuation expert.

Client Satisfaction is very important to us at Turner Butler. Do please take a moment to read what our satisfied clients have to say about us http://www.turnerbutlertestimonials.co.uk

Turner Butler has confirmed the recent successful sale of an e-tailer of Adult Toys.