Listing Number: 96661-84867
BUSINESS HISTORY & OVERVIEW
The company was started as ‘Flying Fish Hovercraft’ in 1998 by Ivan Pullen. In 2012, Ivan wished to step back from running the business full-time. It was taken over by his son, Russ and Russ’s wife Emma.
Russ is hugely experienced in small hovercraft, with 40 years racing, cruising, building and operations. Emma is an experienced businesswoman and the structure is very much that Emma deals with the business/production side, and Russ with marketing and technical matters. At 75 years old, Ivan is still very much involved with the business in a technical capacity.
The global market, reputation and infrastructure that BHC has developed has forged a reputation amongst customers and commentators that BHC is the World’s Hovercraft Company. And now, in 2017 having manufactured and supplied over 1500 hovercraft, BHC is firmly established as the 'industry standard' in recreational hovercraft design with unrivalled experience in producing hovercraft to an extremely high standard.
In 2016, a decision was taken to employ a General Manager to deal with the day-to-day running of the business, who has proved to be excellent in the role. She works closely with the ‘Production Manager,’ responsible for organising the staff and meeting production deadlines.
The company employs 10 other staff. These are excellent people, well trained in their bespoke roles, and include a store man and seamstress for skirt, cover and upholstery manufacture. The company can call on sub-contractors in busy times.
The company currently manufactures five exciting models and provides spares for both its own, and other makes. These models cover recreational sales, light commercial and utility use and corporate/entertainment models.
If you would like to see some of our hovercraft please come visit us on our You Tube Channel here :
WHY ARE WE SELLING
The company is doing well, with a strong brand & excellent reputation, established dealer network, liabilities up to date, and accounts showing a profit. It operates from a 10,000sqft, rented factory in Kent with 15 staff.
The business could continue to trade, continue to make a profit and grow organically and there are regular glimpses of the enormous potential of the product and a sure knowledge that sales are ready to expand out of all recognition given the funding and investment.
The successful investors into the company will be in possession of a successful, profitable enterprise with the potential for enormous growth in a nascent marketplace. This is a genuinely exciting and lucrative purchase of a business with virtually no competition and take it forward to the next level. Two major R&D projects are already at prototype stage, both of which are unique and ‘game-changing’ products within the industry.
Cash demands are preventing the type of growth the principals wish to see, and because of that, the principals are frustrated that the opportunity is being wasted due to a lack of investment. This is the main issue which has led them to the decision to sell.
SALES PARTICULARS & WHAT IS INCLUDED IN THE PRICE
The company – ‘The British Hovercraft Company Limited.’
The name, goodwill, reputation, image and asserted trademarks of the world’s largest small hovercraft manufacturer.
All designs and rights to produce the range of craft, components and parts.
Contacts, dealers, agents and component suppliers
The moulds, tools jigs, machinery and tooling required to build the craft.
All stock, orders and work-in-progress
Demonstration craft (Coastal-Pro, Snapper & Marlin models)
Lease on 10,000sq.ft property in Sandwich, Kent if required.
Staff contracts and all expert staff.
All backroom systems (stock control/accounts)
Website / Web address / blog / Facebook / Youtube accounts etc
Office equipment & furniture
By negotiation, a period of support and training from principals if required (though it is believed that the GM, Floor Manager and other staff are fully capable to hand over.)
Additional Sales information is available on request and these include a Sales Prospectus, Financial Accounts, company information and literature. To obtain the detailed information you will be asked to complete a Non Disclosure Document and qualify as a buyer and all successful applications will be screened by the sellers. As the brand and company are well known in the industry and interest is therefore high can we please ask that only serious potential buyers apply. Thank you
- Price: $1,200,000
- Down Payment: $500,000
- Sellers Discretionary Earnings: $0
- Total Sales: $0
- Location: Kent, England
- Inventory: $0
- FF&E: $0
- Employees: 15
- Year Established: 2015
- Reason for Selling: Other Business Ventures
- Category: Manufacturing