Heartwarmers Limited successfully sold by Turner Butler.
Turner Butler, the “no sale no fee” business sales broker has successfully completed the sale of Heartwarmers Limited the leading supplier of humorous and sentimental giftware.
The company was acquired for an undisclosed sum in a deal that took just 5 weeks to offer and 3 months from instruction to completion. Shaun Sweeney, Managing Director of Turner Butler commented: “We are pleased to have completed the sale of Heartwarmers Limited the Cheshire based supplier of humorous and sentimental giftware in just three months from instruction to completion.”
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Benefit now from a free sale valuation Selling your Hotel is one of the most exciting things you’ll ever do, it’s also one of the biggest cheques you will ever receive. It will pay you to seek advice from experts who know about selling your Hotel on the best possible terms. Choosing Turner Butler to sell your Hotel is the absolute key to a smooth sale, we guarantee to make selling your business a successful, confidential and rewarding experience from the first phone call to the day we hand you your cheque. You will save time, money and frustration when you are ready to sell your Hotel; Turner Butler is one of the Britain largest national advertisers of businesses for sale, with a Database holding many waiting buyers seeking suitable business opportunities like yours. You are guaranteed there is not one penny to pay till the sale proceeds are safely in your bank. Call me now for free, confidential, no obligation advice on selling your business for the most money, in the shortest possible time, with complete confidence on 0800 028 9999, together we will sell your business Remember my unconditional guarantee to you, no sale no fee, no cost or obligation it’s that simple, I am ready to sell your business now, call me free on 0800 028 9999. Rupert Cattell Managing Director P.S. Your satisfaction is assured through our no risk, you-can’t-lose, 100%, iron-clad no sale no fee guarantee, no cost or obligation, I will be happy to answer any questions you may have; together we will sell your business. FREE advice with NO obligation you have everything to gain by calling to me free now on 0800 028 9999
Business Sale Market Review
January has started with a bang and we have experienced very solid levels of buyer activity. This has translated into more offers and more deals being put to solicitors. That being said the deals that are happening are being struck at sensible prices and for respectable multiples. There are no extravagant purchasers out there, in fact far from it, they remain very cautious, very slow and determined not to over-pay.
My own view is that we are seeing a long term trend in stable asset prices and apart from the volatile London property market caused by the low sterling and overseas buyers, I see this translating into pretty static property prices for a number of years yet. One interesting trend that has started to appear in the regional property market is the number of higher value properties owned by ageing baby boomers who want to sell their houses and release money for their retirement, being forced to take very significant price reductions. As more baby boomers reach retirement age, I suspect that this trend will accelerate in the housing market and I also suspect that we will start to see it appearing in the business sales market. At the moment the number of potential business buyers far exceeds the numbers of businesses for sale and it will be interesting to see whether this ratio will change over the next ten years. One positive trend though for business sellers is that we are also seeing retirees from the City appearing as business buyers because they have taken early retirement, redundancy or need to supplement their pensions. Again I foresee that this will be a growing trend.
Finance remains accessible although the banks won’t lend to just anyone. Our independent finance broker had a cracking 2012 and raised over £37 million of business purchase finance for his clients and every single one of his finance applications was sanctioned. Please rest assured that we push his services towards all those buyers who are looking to raise finance for their purchase in order to increase the chances of a sale.
We also now have two new law firms on our panel and if you are in need of a solicitor who will not only provide you with an excellent and professional service but also at considerably below market rates, then please contact one of the team at Turner Butler and we will pass on their details to you.
The market remains pretty much the same as it has done for the last six months and probably will do for the next two years:…..a steady stream of buyers, and a solid level of sales provided that asking prices and vendor expectations are sensible.
The Leisure and Retail sectors remain extremely challenging and with the seismic shifts happening in those sectors I doubt that things will ever be the same.
As for Day Nursery sector there was an alarming suggestion in the papers recently by OFSTED that the free childcare subsidy should become means-tested. I think that such an idea would be hugely damaging to the childcare industry and should be resisted at all costs. These people in the civil service seem to exist in a parallel universe and simply don’t seem to understand the financial constraints under which the vast majority of parents are already labouring when it comes to paying for their childcare!
On the good news front we are seeing increasing levels of borrowing as the major banks slowly emerge from rebuilding their balance sheets and some but not all, are starting to lend more freely. We are also much busier with viewings and offers at this traditionally quiet time of year than in previous years which hopefully bodes well for the new year.
Deals however remain tough to do and are often taking many weeks to complete. You as vendors and we as agents have to have the patience of a saint to put up with the seemingly endless and annoying demands of purchasers and their lenders!
The Government has raised the rate of Capital Gains Tax for lifetime gains qualifying for entrepreneurs’ relief from £2million to £5million in the Budget.
This is good news for business owners looking to sell their business as subject to certain criteria, you will only paid 10% capital gains tax (CGT) on the proceeds of your business sale, this means a CGT bill of £489,900 on a £5million sale.
This makes 2010 a great year to sell your business.
This will shortly be updated with the latest Business Valuation news!