Premium Paint, Oil & Gas Factory
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Property Description
A UK national who is the CEO and his Nigerian Chairman who is in his eighties are looking to retire and sell their company.
It is a private limited Company in Nigeria. Around 75% of its contracts are priced and paid for in US dollars and its annual turnover is in the region of N9b. It has corporate offices in Abuja, Port Harcourt with headquarters in VI and a 10-acre factory in Lagos where it manufactures premium paints to international quality standards. It has a high functioning management structure and about 200 employees. The CEO, the Chairman and the other major shareholder would like to disinvest and leave the business. They are looking to sell the company for over 35 million USD is under 3.5 X last financial years revenue.
The company commenced business in Nigeria in Port Harcourt in 2001 to service the needs of Oil & Gas Companies paint and coating requirements. In 2008, it acquired the sole rights to manufacture a Premium Marine Paint used extensively in industry. In 2015 it secured exclusive rights to manufacture and sell a high-end premium paint brand range of decorative and architectural products in Nigeria. It retains its exclusive right to produce and sell Premium Paints in Nigeria.
75% -- 80% of the companies' business is in the industrial sector used in among others, the following areas.
Oil & Gas Upstream and Downstream
- Refineries
- Oil & Gas Storage Tank Farms
- Pipelines & rigs
- Power Projects
- Jetties
- Maritime - all sectors
- Fuel Stations
- Sports Stadia
- Industrial Buildings
It has undertaken contracts for all the major multinational oil firms and other major industrial players and has developed a reputation with them for delivering to quality, time and competitive cost. One of its current contracts is the refurbishment of the PH refinery and other large contracts are on the books or in the pipeline which can be made available when serious intention has been shown...
Revenue around $20m, net profit $4m, equity $4m.
Not indebted to banks or anyone.
NDA needed b4 more detailed info can be given
Patbetty
Property Details
| Property Ref: 2632751 | Added On: 23 Dec 2024 | Last Updated: 08 Jan 2025 |
| Market Status: Available | Type: Factory |
Interesting Facts
You might be wondering if Victoria Island is an actual island based on its name. No, it is not right now, but it used to be.
Victoria Island was once completely surrounded by water until the colonial government sand-filled the eastern part to prevent mosquito breeding in the swampy area. It ended up with land areas connecting Victoria Island to Lekki Peninsula after it was sand-filled.
Leisure and Shopping
Victoria Island is home to the SPAR shopping mall, which is a one-stop shop for all of your retail needs. Goodies Supermarket is another well-stocked supermarket that sells a wide variety of items such as beverages, cosmetics, wine, toys, and so on. Other shopping options include Mega Plaza, Hubmart Store, Landmark Boulevard, XYLO, and Bijoux Mall.
Popular Estates
1004 Estate, the current largest single luxury high rise estate in Sub-Saharan Africa, is located on Victoria Island.
1004 Housing Estate is an 11-hectare housing estate with over 1000 apartments that was originally owned by the Federal Government before being purchased by private investors in 2007. The estate is located in the business and recreational district of Victoria Island.
There are four swimming pools on the estate for relaxation, as well as tennis courts for sports enthusiasts. The estate is also secure, and power is always available.
Day Life
Known for being an entertainment hub, Victoria Island has numerous places to hang out, eat, chill and have a great time.
Silverbird and Filmhouse cinemas are recommended for moviegoers. Oniru Beach, located on Victoria Island, is one of the most popular beaches in Lagos. Ocean Basket is the Mediterranean's seafood mecca. The Red Door Gallery is a must-see for art enthusiasts. It can be found within the Silverbird Galleria.
Kappadocia Lagos is Lagos' first and only cave restaurant. The architectural design creates the illusion that you are in a cave.
Night Life
In Victoria Island, the night is always young. Get your dancing shoes on and choose from any of the bubbling spots to experience the nightlife here.
If you live in Lagos, you have probably heard of Club Quilox. This is one of the hottest clubs in Lagos, and many celebrities frequent it.
Othello's Lounge is located in the heart of Victoria Island. Here you can get reasonably priced drinks and chops.
At LiVE! Lounge, you can expect to see live bands, karaoke, and comedy nights. They have both indoor and outdoor seating options, depending on your preference.
Schools
If you live on Victoria Island, you will not have to look far for good schools. American International School of Lagos is an international school that serves students from preschool to grade 12. Boston Academy, Crescent Schools, Cranberry School, White Oak Preparatory School, and Kuramo College are also popular primary and secondary schools. The Nigerian Law School and the Now Open University are also located on Victoria Island (NOUN).
Read the full area guide for Victoria Island (VI), Lagos.
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