Avocet Client Achieves Good Sale Price

Avocet had worked with this client since December 2017 on its 1 = 4 Increased Value Programme.

Initially valued by Avocet at £1.85m, this family owned Construction business needed help in the following areas:

-  De-risking the business by ringfencing each Division against default in the main Projects activity

-  Introduction of procedures for assessing Contract Risk rather than just bidding for "attractive" headline value contracts

-  Introduction of Budget disciplines

-  Review of non family management talent

-  Growing the high margin recurring income Service & Maintenance Division

In July 2020 the business was sold with the exit of all family members, for £3.2m, all payable at transactiion date. This sale price represented a 73% premium to the December 2017 valuation 2.5 years earlier.

 

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