DOUBLE KNIT

Leading manufacturer of knitted products for industry and retail distribution

LOCATION :

  • Walloon Region, Hainaut Province

STAFF :

  • 46 FTE

STRENGTHS AND OPPORTUNITIES :

  • Excellent track record. Recognized for quality products.
  • High degree of automation. State-of-art equipment
  • Well functioning and independent team
  • Clients are active on two different markets (BtoB and BtoC). Dependence on clients may however be improved.
  • Turnover and profitability have suffered over the 12 last months because of the departure of a large client. Replacing the available production capacity by new clients is a challenge but also a business opportunity as the company’s valuation is affected by the current results.

REAL ESTATE :

  • 2 buildings totalling over 11.000m² are rented from parent company (real estate is not part the sale)

KEY FIGURES 2018 :

  • Turnover : about 10M Euro
  • Gross margin : between 45-50%
  • EBITDA  : 1,1M (but will be lower in 2019)
  • Net cash : 1,2M
  • Net asset value : 6,5M

PROPOSED SALE :

  • 100% of the shares of the company for sale (no real estate)
  • Reason of the sale : retirement of CEO
  • Expected price : around 6M