Kings Commercial Are Proud to Announce the Sale of Viking Timber and Plywood
26th February 2020
This productive fabrication and supply business in South Shields, Tyne and Wear is now under new ownership.
Viking Plywood & Timber was established in 1981, to meet the demand for sheet timber fabrication. The business offers a cut and supply service for a selection of bespoke products. They serve a wide range of industries, such as numerous national house builders, joiners, warehousing and many small to medium size independently owned businesses.
The business operates out of a large open plan industrial unit, providing an organised and productive work environment, full of high quality and well-maintained machinery. The owner decided it was time to retire, after over 30 years of successful ownership.
They approached the experienced brokerage services of Kings Commercial to handle the sale of the business. Once they placed it onto the market, it subsequently sold.
Viking Timber and Plywood was acquired by a first-time buyer, with a comprehensive background in engineering. The buyer has extensive experience in metal fabrication and wished to expand their knowledge and services into new materials.
The business demonstrated a good turnover, a fair price and it held excellent potential for growth. It was ultimately a combination of these 3 factors that drew the purchaser to the business. The buyer plans to become established in their new business, and they are planning a possible expansion in the future.
The vendor commented;
“I am very happy with the service I received, and the experience was good. I would be happy to recommend the service again and I am now looking forward to enjoying my leisure time and travelling with my wife.”
The buyer commented;
“I am happy with the service and my overall experience with the company. I would recommend Kings Commercial in the future. I am looking forward to getting established in the business and I am very grateful for the vendors ongoing guidance and mentoring.”
Lead Negotiator Stephen Croft commented;
“I am very happy to hear that the sale completed successfully and especially that the buyer and vendor are working well together in a mentoring capacity. This will help the buyer get off to a good start establishing the business.”