Profitable Contracting Business in the Construction Sector – H B Projects Limited (In Administration)

H.B. Projects Limited – In Administration

An exciting opportunity to acquire a recently profitable contracting business in the construction sector

Opportunity

• HB Projects has faced operational headwinds over recent months, leading to cashflow difficulties resulting in the opportunity to make the insolvent purchase of the Company’s assets.
• The Company is a Principal Contractor operating across the UK from offices in Bradford, Livingston and Gatwick. Incorporated in 1998, the Company specialises in traditional contracting, along with project and construction management in the retail, commercial, and industrial sectors.
• The Company employed an experienced and highly intelligent workforce of 159 staff members. Turnover in the year to 28 February 2022 was £56.6m (2021: £46.0m) with an associated gross profit of £4.0m (2021: £3.6m) at a margin of 7.1% (2021: 7.8%). Final profit before taxation per the latest published financial statements for the year ended 28 February 2022 was £1.0m (2021: £1.3m).
• The latest management accounts for the 9-month period to 30 September 2023 show turnover was £24.8m with an associated gross profit of £3.5m at a margin of 14.1%. However, due to difficulties faced in the year, the final result was a loss before taxation of £3.1m.
• The Company’s service offering encompasses every aspect of the construction lifecycle from design to construction and the renovation of existing spaces.

Key Highlights

• Historic name, Blue Chip client base
• Most Staff have now been made redundant