A provider of commercial vehicle hire services- based in south east England

The company provides short- and long-term vehicle hire services for the commercial sector, operating a diverse fleet of vans, trucks, minibuses and campervans.

Approximately 100 vehicles are currently on long-term hire contracts spanning up to five years. Long-term contracts are inclusive of all servicing and maintenance, with 24/7 support and sign writing services provided.

The company also offers vehicles on a daily rental basis for periods of up to 12 months, receiving a high volume of repeat custom.

The business is being offered for sale to facilitate the shareholder’s retirement.

Offers invited.

Key Highlights

– c200 vehicles available for hire.

– Caters to circa 275 commercial clients across a diverse range of sectors, including distributors, brokers and waste management companies.

– Approximately 51% of clients provide reliable, repeat business on an ongoing basis, with its longest relationship spanning upwards of 30 years.

– Experienced management team in place.

– Operates from two sites in South East England, one of which is fully owned by the company and may be included in the sale on a freehold or leasehold basis.

– Generates additional income from the lease of a portion of its premises to another company.

– Considerable scope for growth through the expansion of its fleet or the development of its service offering.

Financial Highlights

– Management turnover of £2.46m in YE24, with an adjusted EBITDA of £1.29m.

– Turnover of £2.28m in YE23, with an adjusted EBITDA of £1.24m.

– Gross profit margin of 69%.

– Shareholder funds in excess of £2.67m.

– Derives circa 50% of its revenue through contracted relationships with 14 clients, accounting for £1m annually, with an average of 28 months remaining on each contract.

– c50% of income derived from contracts