Commercial Kitchen and restaurant Design and Build Specialist

Based in North East England

Overview

Project Velvet specialises in the design, supply and installation of food service and bar facilities for high-profile clients located across the UK.

Providing clients with a complete turnkey solution for commercial kitchens and associated catering areas, the business has become a trusted and reliable national food service system contractor.

The company has developed its capabilities over the last 20 years via a diverse client network and a high potential e-commerce platform which facilitates the sale of kitchen equipment and small wares directly to the consumer.

Having built up a highly reputable business, our clients are now offering the company for sale to facilitate a phased directorial exit strategy.

Offers invited.

Key Highlights

– Operates to a number of industry trade standards, including Gas Safe, SafeContractor, CHAS, and Constructionline.

– Long-standing relationships with buying groups and has direct deals in place with all major brands.

– Gold Standard partnership status with various suppliers enabling maximum purchasing terms and associated benefits.

– Operates across a wide range of sectors, including brewery, education, construction, local Government, hospitality, and healthcare.

– Benefits from over 350 active clients, 80% of which provide reliable streams of ongoing revenue.

– Highly skilled workforce in place overseen by a robust management team that can oversee day-to-day operations with minimal oversight from the directors.

– Operates from office and warehouse premises, both of which are leased.

Financial Highlights

– YE23 turnover in excess of £6.7m.

– EBITDA of £451k achieved within the same year.

– Strong forward order book value in excess of £2.2m.

– Expected turnover of £7.5m in YE25.

– Has recently taken on numerous large clients, which could generate the company up to £4.4m in the next few years.

– In the final stages of contract negotiations with a major hotel company, with a value of circa £300k.