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SOLD - Automotive Business for Sale

Wholesale Parts; Specialist Service Centre

$1,300,000 including stock and plant - Christchurch

#L001512

detail

SOLD

The Business

The following attributes make this business an appealing acquisition for anyone with an interest in the automotive sector.

Highlights

  • Sales of $2m +GST this FY and increasing
  • Multiple income streams (wholesale & retail) across several market niches
  • Essential products & services, both now and into the future
  • Excellent systems
  • Experienced staff & strong team culture
  • Sales & Operations Manager in situ
  • Stock of $1m and P&E of $100k
  • Owner works no more than 30 hours per week, and not in the workshop
  • Market leadership within its niche
  • Preferred supplier to Capricorn & Auto Shoppe members
  • Wide spread of clients with no real customer risk

Buyers/Seller

Our vendor wishes to retire, that is the only reason for sale. The buyer/s could be

  • An individual wishing to add their management & business development skills to a market leading business
  • A trade buyer keen to add circa $800k Gross Profit (after purchase & wages) to their business
  • An existing client wanting to enjoy the benefits of vertical intergration

This is an exceptionally good value purchase for an outlay of only $200k goodwill/intangibles

Net Surplus $414,679 EBPITD

EBPITD = Earnings Before Proprietors Income Tax and Depreciation

Contact: Damien Fahey
Office: Christchurch

Confidentiality Agreement for Business Reference L001512, Broker Name Damien Fahey

Between Tabak Business Sales and the Interested Party.  The Interested Party must be an individual's name, NOT a company name.

In consideration of Tabak Business Sales (being any or all of Tabak Limited (Licensed under REAA 2008) and/or Tabak Business Sales Limited (Licensed under REAA 2008) and their respective business brokers) entering into discussions relating to the possible acquisition of the assets or shares of any business(es) presented to me by Tabak Business Sales and specifically the business referenced above, I/We hereby agree and undertake as follows:

  1. To treat as totally confidential the identity of the business(es) disclosed to me and any details as to its operation or financial accounts;
  2. I acknowledge that the financial records, customer and supplier details and other information relating to the business to be disclosed to me shall at all times remain the sole and exclusive property of the Vendor and that such information is of competitive value and of a confidential nature and that loss or damage would be sustained by the Vendor if such information should be used or divulged by me for any purpose other than the evaluation of the purchase of the business or should it become into the possession of an unauthorised third party;
  3. Not to disclose the identity or any details of the operation or financial accounts to any third party (except my accountant or legal advisor who shall agree to respect this requirement for confidentiality) unless expressly authorised in writing by the Vendor or by Tabak Business Sales;
  4. Not to make an approach to the Vendor of any business disclosed to me by Tabak Business Sales, or the business' staff, customers or suppliers without prior arrangement with Tabak Business Sales and to refer all queries through Tabak Business Sales;
  5. I acknowledge that Tabak Business Sales is the introducing agent, and that all offers and deposits for the business, shares or property will be conducted through that office;
  6. If, I as a potential buyer breach clause 4 of this agreement and buy directly or indirectly this business from the Vendor of the business quoted then I the buyer will be responsible for any loss of commission due to Tabak Limited (Licensed under REAA 2008) and/or Tabak Business Sales Limited (Licensed under REAA 2008) as the case may be;
  7. If, I as a potential buyer breach clause 1, 2 or 3 of this agreement I undertake to indemnify Tabak Business Sales against any actions, proceedings, costs, claims, demands or liabilities which you may suffer in consequence of that breach;
  8. That all information is received for no other purpose than the evaluation of the investment potential of the business;
  9. If I decide not to proceed with the investment, I agree to immediately return to Tabak Business Sales all written information supplied by it and retain no copies and to delete any electronic records including all emails and attachments relating to the business(es);
  10. Acceptance by Electronic Mail: Execution of this Agreement and transmission between the parties by electronic signature and email response each to the other or their representative will constitute offer and acceptance and satisfy the requirements of Section 5 of the Electronic Transactions Act 2002.
  11. Privity: For the purposes of Part 2, Subpart 1 of the Contract and Commercial Law Act 2017, the parties acknowledge and agree that the agreements and undertakings given by the recipient in this Confidentiality Agreement are given for the benefit of the Vendor and its related companies and representatives, and are enforceable at the suit of all or any of them.

Before proceeding with this Confidentiality Agreement, it is recommended that any prospective purchaser

  1. seeks legal advice.
  2. may or may need to seek technical or other advice and information.
  3. review Tabak Business Sales’ internal process in relation to any complaints.  A copy of these can be found here.
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