This business has been established 30 years with the current owners having it for 14. They design, supply, install and maintain a range of different solutions for Government Departments, Emergency services, Fleets etc, throughout the mid to upper North Island.

There are signed long term supply contracts with Government departments, Councils and other national companies. While the company does excellent business with Government departments they also carry on significant work to private sector as well.

There is enormous growth potential outside the geographical locations they already cover. The current owner has been reluctant to grow the business any further and hasn’t yet committed to new Government contracts offered to them! Owners believe this should be a decision for the new owner.

The owner is looking to retire in the next few years and is willing to stay on long term as an employee to ensure a successful transition.

Sales are around $3.3m with a Three year average EBITDA of $420k. (2009=$453k)

Sale Price: $1.4m

Business is positioned at a 3.1 times 2009 EBITDA or 3.3 times 3 year average EBITDA 2007-09.

The reasoning for this multiple is as follows:

• One of few businesses where result for 2009 year was up on 2008 year.
• Vendor will stay on indefinitely as an employee to ensure successful transition.
• At least 30% of income is long-term contracted work.
• Significant barriers to entry.
• Multiple income streams, no concentration risk.
• Quality debtor book with Government departments, SOE’s and large private sector companies.

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