Lloyds Corporate Brokers has completed the Sale of a highly successful and much sought-after e-commerce retailer within Australia and, more recently, in the UK.
HardwareBox was founded in 2016 when the owner found a gap in the industry for door hardware. The owner was running the business as a side business with a limited range of 20 to 30 products. After customer feedback, the owner found a significant push to broaden the range to cover all aspects of hardware to provide a one-stop solution for all their door hardware. This led to the development of the in-house brand Mucheln, a significant increase in revenue, and acquiring B2B customers.
HardwareBox has established a strong position in the industry with its complete range and offering of every configuration the customer requires, so they can get the matching range in one location for whichever finish they choose.
HardwareBox is an e-Commerce retailer selling door hardware within Australia (98% of sales) and, more recently, the United Kingdom (2% of sales). They stock about 250 SKUs and pick and pack orders in their 3PL warehouse in Melbourne, VIC (and a 3PL in the UK). The vast majority of SKUs are their own trademark brand Mucheln, sourced directly from factories in China.
Lloyds initiated the sales process with a business appraisal and preparation of an Information Memorandum and marketing teaser. This highly sought-after business received over 35 qualified inquiries. Lloyds facilitated introductory meetings with prospective buyers and worked with the vendor and the advisors through all aspects of the sale process, including deal structuring and negotiation of sale terms.
The sale was conducted by our Lloyds Victorian Corporate Partner Alexander Spencer, who worked closely with the vendor to achieve a successful result for both vendor and buyer.
"Namrata Goel and the Team at Lloyds Corporate Brokers Victoria were fantastic at every step of the process. Great support, guidance and clear communication, from developing the Information Memorandum right through to negotiations, helped ensure an excellent and timely outcome." ~ HardwareBox founder and Vendor, Andrew Gurney.
About Alexander Spencer
Alexander Spencer based in Melbourne established in 1952, they have been proud to provide accounting and financial solutions for almost 70 years, growing to become an AFR Top 100 Accounting Firm. They are committed to providing quality business solutions and outstanding advice to all of their clients. At Alexander Spencer, they are more than just a tax and accounting firm priding themselves on the breadth of their financial knowledge, level of service and commitment to creating productive and lasting relationships with all of our clients. With a team of over 40 business advisors and consultants to offer a wide-ranging selection of services, designed to meet all of their clients financial needs.
If you own a business in the E-Commerce sector, talk with Lloyds Corporate Brokers on 1300 366 943 for advice on how to buy or sell your business. We have teams of brokers in Melbourne, Brisbane Brokers, Adelaide Brokers and Sydney Brokers.
