A Plymouth marine engineering and chandlery business which is predicting turnover to hit £700,000 this year has gone on the market.
Husband and wife owners Gavin and Sally Hearnden have placed Mount Batten Boathouse Ltd up for sale with a guide price of £130,000, because they want to retire.
The business, close to Plymouth Yacht Haven, employs six people in addition to the two directors, and included in the sale is the premises lease and equipment, plus business goodwill and two vehicles.
The company, set up in 1998, is described as very well known and successful. Even in Covid-hit 2020, when it had to close for five weeks during the first lockdown, it had sales of nearly £600,000 and made a £103,000 net profit.
Turnover is forecast to reach £700,000 with an adjusted net profit of more than £100,000 and its “expanding customer base” is predicted to give scope for significant growth.
With a customer database of more than 5,000, including 600 account holders, it includes Devon and Somerset Fire and Rescue Service, South West Ambulance Trust, the MoD and the University of Plymouth among customers.But most of its customers are private boat owners whose craft are based in Plymouth.
The business offers engineering and chandlery services and specialises in the supply and installation of marine equipment to fit a variety of vessels, including engines, heating, refrigeration, electronics and power management.
It is Plymouth’s main dealer for leading brands including Yanmar, Mariner, Webasto, Vetus, Raymarine, Torqeedo electric outboards, and Navico electronics. It has two websites, one of which is an online shop for specialist marine equipment.
The business has been brought to the market by specialist business transfer agents Beardsley Theobalds, which said: “For the first time since it was established in 1998, Mount Batten Boathouse has been brought to market and is offered for sale, to enable the husband and wife owners to retire.
“This is a very well-known and popular business which benefits greatly by having an excellent trading location within Plymouth Yacht Haven – a marina offering comprehensive facilities including a 75-tonne hoist and undercover storage, just minutes from the open water of Plymouth Sound, one of England’s finest natural harbours.
Business Live’s South West Business Reporter is William Telford. William has more than a decade’s experience reporting on the business scene in Plymouth and the South West. He is based in Plymouth but covers the entire region.
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“The business is particularly noted for being Plymouth’s main dealer for a significant number of leading brands as well as having main direct accounts with a host of other well-known names in the maritime sector. This is a very successful and profitable business with a skilled and loyal workforce. It has an enviable and expanding customer database and enjoys having a really good name and reputation. The business trade is split roughly 60% retail and 40% engineering.
“Given the fact that Mount Batten Boathouse is offered at a very attractive price to encourage an early sale, it is highly recommended that seriously interested prospective purchasers take urgent action if they are to avoid disappointment as the availability of this business will definitely command a lot of interest.”
For further information visit www.beardsleytheobalds.co.uk or telephone the selling agent, Beardsley Theobalds, on 01392 253071.
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