Wed, 19 Sep 2012 | BUSINESS SALE
Despite having announced that it has abandoned sale talks, K3 Business Technology Group could still be open to takeover offers.
Based near Manchester in Salford Quays, the business has received a mixture of interest from potential buyers. Both trade and equity bidders have come forward since the AIM-listed business launched discussions in March of this year.
However, it has now stated that the talks have ended due to the fact that the bids received were “not at a level that would be acceptable to shareholders”, with nothing lodged that valued the company at above £2 a share.
Andy Makeham, chief executive of K3, has now said that the business will be receptive to fresh takeover prospects at the end of its work to reduce its debt and complete its investment in new products.
Mr Makeham told Men Media: “We do see good value in paying debt down and that is a good way to increase the value of the company, so further acquisitions would have to represent very good value to us right now.”
K3 posted a 28 per cent increase in full-year sales for the 12 months 30 June, rising from £52.8 million to £68 million.
Turnkey shopfitting specialists providing a complete package with services including consultation design (2D 3D visualisations and walkthroughs) procurement contract management joinery manufacture and installation of all elements. The company operate...
This well known and successful business, set up over 38 years ago, provides a comprehensive workshop service for motor vehicles/cars and light commercial vehicles and within the busy Surrey and South East region and has been in the current vendor’s o...
LEASEHOLD
The company specialises in producing furniture from a wide array of materials, allowing it to act as a one-stop shop for private and commercial clients. Operating nationally, the company caters to 20 active industrial and commercial clients, all of w...
LEASEHOLD