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Annual turnover

  • Mandate: 33765
  • Added: 12 Feb 2020
  • AFS
  • 334

Business selling in cooling and refrigeration systems & installations.

Windhoek & Central, Khomas
Mandate 33765
Added 12 Feb 2020
N$ 8,340,000* NAD
Stock: N$ 200,000
Assets: N$ 1,995,045
N$ 275,842 NAD
Ursula Gollwitzer
Aldes Namibia
Windhoek, Kleine Kuppe
Windhoek, Kleine Kuppe

Established, owner run business offering services and sales pertaining to cooling and refrigeration. Designing, supplying, installing and maintaining for residential and commercial clients through out Namibia.

Business selling in cooling and refrigeration systems & installations.
N$ 8,340,000* NAD
Stock: N$200,000
Assets: N$1,995,045
N$ 275,842 NAD

Established, owner run business offering services and sales pertaining to cooling and refrigeration. Designing, supplying, installing and maintaining for residential and commercial clients through out Namibia.

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Fully describe the business's activities?
Established, owner run business offering services and sales for all areas of air-conditioning and refrigeration. Designing, supplying, installing and maintaining for residential and commercial clients through out Namibia. This business supplies, installs and maintains some of the leading brands in the industry and has an extensive range of additional products.

How long has the business been established?
This business was established over 40 years ago.

How long has the owner had the business?
The current owner has owned the business since 2008.

How does the business operate on a daily basis?
Each department of the business has its own manager reporting to the owner. Administration staff send quotations and invoice jobs on completion with the guidance from the managers of that division in the business. The owner designs and quotes for large systems and tenders. When needed the technical teams work over week-ends. Calls are received by the receptionist, who opens the job card and allocates jobs to the applicable manager. During a short meeting in the morning, technicians receive their jobs for the day.

How are the clients attracted to the business?
This business was established 40 years ago and has a reputable name in town. Clients receive consistent quality and exceptional service for all installations and maintenance. This theory is applied throughout the business for both small and major installations and tenders.

What Advertising/Marketing is carried out?
Only by vehicle branding and an active website.

Does the business have any contract work?
Yes the business does have contract work. Work in progress values and granted contracts and tender information is available to serious buyers in the due diligence stage.

What competition exists?
There are many other HVAC and refrigeration companies that exist, however this business ranks in the top 4 since 2011.

What are the seasonal trends?
Air conditioning installations are generally quieter in winter (June – Aug) and busier in summer (October to March), however the winter season is used to complete yearly service maintenance on existing installed air conditioners. Air conditioning breakdown services are however far busier in summer than in winter. Large tender projects are unpredictable; it depends on the construction industry.

Is the business VAT Registered?
Yes, this business is VAT registered.

What VAT documentation is on file?
All VAT documentation is available on file to serious buyers in the due diligence stage. All returns are filed and a VAT Clearance certificate is in place.

Are there up-to-date Management Accounts available?
Yes, there are up to date Management accounts. This business uses a professional accounting system to keep all accounting accurate and up to date.

What Balance Sheet and Income Statements are available?
Balance Sheets and Income Statements are available from the last 5 years.

What percentage of the business is cash/credit?
This business does not offer credit facilities to its clients. Installations require an 80% deposit and balance is payable on completion. Services and breakdowns are payable on completion. Large tenders and contracts pay as per completion certificate issued by the engineers.

What is the age analysis of the debtors book?
The ageing of the Debtors book runs between current and 30 days.

How could the profitability of the business be improved?
Streamline management and focus on small and medium tenders instead of large tenders with smaller mark-ups. There is a scope to add an electrical and plumbing side to the business.

What is the total staff complement?
There are a total of 30 employees of whom all are Namibian citizens.

Give a breakdown of staff/ functions/ length of service?
6 x Admin staff – 4 female and 2 male 1 x Breakdown manager – male with 16 years experience 1 x Installation manager – male with 15 years experience 8 x Technicians – male with an average of 9 years experience 14 x General workers – 12 male and 2 female – all with at least 4 years experience

Do any receive special perks or incentives?
Two managers have the use of company vehicles. The owner and managers all have cell phone contracts which are paid for by the company.

Are they on contract?
All employees are permanently employed.

Do any have management potential?
There are three managers in place.

How involved is the Owner in running the business?
The owner is involved with the business on a daily basis.

When does the current lease end?
The lease agreement ends February 2020. The owner of this business has shares in the property and is willing to lease the property out to the buyer of this business for a duration of 1 to 3 years with a rental escalation to be discussed and agreed upon by both parties.

What are the trading hours?
The trading hours of this business is from 07h30 to 17h00, Monday to Friday. The technical teams are required to work over weekends where necessary.

What is the square meters of the business?
The total Erf is 571 m² and the building 457m².

Is a copy of the lease available?
Yes, there is a copy of the lease agreement available to serious buyers in the due diligence stage.

Do you require a licence?
The only licence required is a Fitness Certificate from the municipality. This is in place and up to date.

What lease deposit and/or other surety is required?
A deposit equal to one months rent is required.

What are the main assets of the business?
The main assets of the business are the vehicles.

Are any items not included in the sale?
All items on the asset list are included in the sale of the business.

How have they been valued ?
All assets are calculated at business value: between the replacement value and the new value, depending on the conditions and repairs required.

Which assets are on lease/HP and with whom?
There are no assets on lease / HP.

Are they presently insured?
All assets are in good working order and insured.

Well known and reputable name Good quality products Wide client base Highly skilled staff Integrity

Lack in productivity due to economic times. Reaction times for maintenance jobs can improve.

There is a huge opportunity to start manufacturing air conditioning ducting. One can also offer sales and services in air conditioning for vehicles. Weaknesses can be improved upon.

BEE requirements and the Current economic climate.

What is the reason for the sale?
The owner plans to relocate.

Why is this a good business?
Namibia is a harsh country with constant high temperatures through most months of the year. One needs air-conditioning in offices, hospitals, homes and vehicles.

What is the price plus stock and the profit?
The selling price is N$ 8,340,000.00 including an average stock holding of N$ 200,000.00 and a net profit before tax of N$ 3,310,098.00 per annum.

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