Sydney-Based Safe And Locksmith Specialist For Sale Asking $A1.89 Million.

Safe And Locksmith Specialist For Sale – A Sydney-based specialist physical security, safes, vaults and commercial locksmithing business has been listed for sale asking $1.899 million.

The business has an annual turnover of $1.4 million and thanks to a net profit margin of 29.4 per cent delivers a net profit of around $411,000.

This business has been operating for nearly 25 years and has an established customer base across government, commercial, industrial and mining applications.

Operations include safe supply and sales, including new, used and refurbished safes, specialist safe opening, manipulation, repair and maintenance, as well as vault supply, installation, servicing, opening and removal.

The business also undertakes specialist transport, installation, removal and relocation of heavy security equipment, commercial locksmithing, restricted master key systems and security hardware.

Business for sale / Sydney NSW / listedDeal SnapshotVendor-supplied trading figures for the safe, vault and commercial locksmithing business, with acquisition ratios calculated by SEN.

Asking price$A1,899,000Plant and equipment included

Annual turnover$1,400,000Reported annual revenue

Net profit$411,000Approximate, before operator adjustment

Net margin29.4%Unusually high for a trade services business

Price to profit4.6xAsking price divided by net profit

Return on price21.6%Unleveraged, at the full asking price

Trading history25 yrsNearly 25 years of continuous operation

Price to profit, return on price and the 1.36x revenue multiple are calculated by SEN from the advertised asking price and the vendor-supplied turnover and margin. Net profit is stated before any adjustment for a replacement operator, and the vendor is one of the 2 full-time technicians in the business.

Government security work includes SCEC-related products and services and high-security storage solutions. The company is also described as an Australasian distributor of specialised safe ‘time’ locks, which are used by retailers to protect themselves against robbery.

The sale includes 2 purpose-built crane trucks, a service van and specialist safe and security equipment. Staffing comprises 2 full-time safe technicians/locksmiths, including the vendor, 3 casual staff, including a qualified locksmith and 2 trade assistants, and administration personnel. A network of subcontractors provides additional coverage across NSW.

Further financial, customer and operational information is available to qualified potential purchasers subject to a confidentiality agreement.

Revenue streams / what the buyer acquiresSix Operating DivisionsThe business is not a single-service locksmith. Turnover is spread across six related physical security disciplines, several of which carry high barriers to entry.

Safe supply and salesNew, used and refurbished safes sold into government, commercial, industrial and mining customers.

Opening and manipulationSpecialist safe opening, manipulation, repair and scheduled maintenance. A skills-limited field with few competitors.

Vault worksVault supply, installation, servicing, opening and removal, including full decommissioning projects.

Transport and riggingSpecialist transport, installation, removal and relocation of heavy security equipment using purpose-built plant.

Commercial locksmithingRestricted master key systems and security hardware supply, service and rekeying across commercial sites.

Government and SCECSCEC-related products and services plus high-security storage solutions for government end users.

Exclusive distributionThe business is described as the Australasian distributor of specialised safe time locks, used by retailers to defeat robbery by removing the ability of staff to open a safe on demand. Distribution rights of this kind are typically the hardest element of a sale to replicate and should be a primary focus of buyer due diligence.

Division list compiled by SEN from the vendor's advertised scope of works. Weighting of turnover between divisions has not been disclosed publicly.

You can learn more about this safe and locksmith specialist for sale here or read more SEN news here.

“Sydney-Based Safe And Locksmith Specialist For Sale Asking $A1.89 Million.”
Sale inclusions / plant and peopleWhat Transfers With The BusinessThe listing is a going concern rather than a client list. Purpose-built plant and a trained crew are the two assets that make the scope of works deliverable.
Plant and equipment
02Purpose-built crane trucksThe capability that allows safe and vault relocation work to be quoted at all
01Service vanField servicing, locksmithing and maintenance calls
+Specialist safe and security equipmentOpening, manipulation and rigging tooling accumulated over 25 years
People
02Full-time safe technicians and locksmithsIncludes the vendor, who works in the business
03Casual staffOne qualified locksmith and 2 trade assistants
+Administration personnelQuoting, scheduling and compliance support
NSWSubcontractor networkAdditional coverage across the state beyond metropolitan Sydney
Key person considerationWith the vendor counted as one of only 2 full-time technicians, a buyer without safe technician credentials will need either a handover period, a hire, or both. The cost of that replacement is the single largest variable in the earnings a purchaser will actually retain, which is why it appears as an adjustable input in the return calculator above.
Inclusions as advertised by the vendor. Further financial, customer and operational information is available to qualified potential purchasers subject to a confidentiality agreement. The full listing can be viewed here.
Safe And Locksmith Specialist For Sale. [ Safe And Locksmith Specialist For Sale ]

Safe And Locksmith Specialist For Sale

Safe And Locksmith Specialist For Sale

Sydney-Based Safe And Locksmith Specialist For Sale Asking $A1.89 Million.