SOLD : Vehicle Dismantling Business Sold to A South West's Leading Waste Management Company
South West business transfer agency Beardsley Theobalds are pleased to announce the recent sale of "Chris Davey Car Parts" which has been acquired by South West Metals & Waste Recycling Ltd.
In addition to vehicle dismantling at its scrap car recycling centre in Launceston, Chris Davey Car Parts is also involved in the supply of new and used parts. The business operates from a large and valuable freehold site on the Newport Industrial Estate which is located within about half a mile of the town centre. The sale was agreed off a marketing price of "Offers around £500,000 plus stock at valuation". This is yet another example of the diverse range of businesses offered through Beardsley Theobalds who specialise in the sale of businesses in the industrial, commercial and business services sectors. For further information and help and advice for both sellers and purchasers.
The business was established 29 years ago by Chris Davey who is now retiring. This is the first time the business has been offered for sale and the selling agent was inundated with enquiries from prospective purchasers during the relatively short period of time it was on the market. In fact, during the six weeks prior to a sale being agreed sales particulars were issued to no less than 728 people and, in order to secure its position, the purchasing company agreed to lodge a sizeable non-refundable deposit with the agent (acting as stakeholders in this matter) in return for which the business was taken off the market and a period of exclusivity was granted. The agent says the use of non-refundable deposits has become increasingly more popular in recent years and provides both buyers and sellers with a significant degree of confidence and comfort at the point at which they start incurring transaction costs when solicitors are instructed.
Tom Langrishe at Gard & Co., Solicitors acted for the vendor whilst Helen Wallwork at Foot Anstey acted for the purchaser.
South West Metals & Waste Recycling Ltd. is a company that has been expanding its operations in recent years and this latest acquisition sits comfortably alongside its network of other business outlets throughout the westcountry.
Roger Mundy, Managing Director, Beardsley Theobalds