London exteriors firm up for sale after administration

Thu, 17 May 2018 | ADMINISTRATION

Both the business and assets belonging to a London-based contractor dealing with exterior facades has been placed up for sale after the company was forced into administration earlier this year.

Luckywheel Ltd, based in Waltham Abbey in Essex but with operations across the South East and London, is a specialist installer of commercial and domestic facades, including curtain walling, windows and cladding systems. It predominantly works with PVC-U, aluminium and composite products for businesses and homes.

A run of difficult business conditions forced the company to appoint administrators from Mazars to steer the firm to trade under their direction.

Patrick Lannagan and Adam Harris, the joint administrators assigned to Luckywheel, have since been instructed to find a new buyer for the company as a going concern.

Alongside the company itself, the administrators are also separately selling several of Luckywheel’s assets, including an outstanding order book worth £5.9m, which includes an additional £19m of work that has already been tendered for.

The company is also parting ways with its freehold manufacturing and office facilities in Nazeing, Waltham Abbey, as well as its manufacturing equipment and any work currently in progress.

As a family-run business, Luckwheel is still owned and managed by its two founding families.

Turnover and EBITDA for the company's 2018 financial year are forecast to grow by 42 per cent or £2.38m and 16 per cent or £126,000 respectively from the prior year.

The firm’s website reads: “Being a small business, we have a strong bond with all of our employees and consider our business relationship with each customer to be a matter of trust.

“Our goal has always been to strive for excellence and be worthy of continued confidence.”

The administrators have set a deadline for any offers for the firm of Friday 19 May, you can view the listing here.


Share this article



Latest Businesses for Sale

Shop Fitting
South East, UK

Project Fit provides an opportunity to acquire a highly-regarded, well established and profitable shopfitting installation specialist, for the convenience retail sector and large corporate accounts. Offers invited.

Asking Price: Offers Invited
Turnover: £7,000,000

Flooring & Hygienic Wall Cladding Contractor
Yorkshire and the Humber, UK

Experts in commercial and industrial grade flooring and hygienic wall cladding solutions. Client base of interior 'fit-out' contractors to leading high street retail brands, commercial developers, house builders and commercial/industrial end users. C...

Asking Price: Offers Invited
Turnover: £730,000

Property Maintenance Solutions Contractor
Dawlish, South Coast, Devon, UK Wide

Opportunity to purchase a very long established and highly regarded family-run commercial decorating/maintenance & roofing specialist. With a freehold site in an excellent commercial location with high access capabilities operating from secure and we...

Asking Price: £2,500,000
Turnover: £2,000,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
29
 
May
 

Monsoon Accessorize close to administration | ADMINISTRATION

Fashion retailer Monsoon Accessorize is close to entering ad...

 
28
 
May
 

M&G completes purchase of Ascentric platform from Royal London | BUSINESS SALE

Asset manager M&G has completed the purchase of wealth manag...

 
27
 
May
 

Food-to-go supplier calls in administrators | ADMINISTRATION

Adelie Foods, one of Britain’s biggest suppliers of sa...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
06
 
May
 

Cheshire-based wholesaler goes into administration | ADMINISTRATION

Cheshire-based wholesaler Scott Brothers Limited (SBL) has g...

 
15
 
Apr
 

Bristol-based transport training company goes into liquidation | ADMINISTRATION

Bristol-based transport training course provider PB Transpor...

 
24
 
Mar
 

Halifax arts trust calls in administrators | ADMINISTRATION

The Square Chapel Trust and its subsidiary Square Trading Lt...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources