Island Dry Cleaning Ltd Acquired by First-time Buyer

A traditional dry-cleaning business in Essex has been sold to a first-time buyer.

Island Dry Cleaning Ltd, located in the heart of Colchester, was first purchased by our client in 2005. In that time, the business has acquired a loyal client base and has benefitted from recommendations and referrals, becoming a leading provider of dry-cleaning services in the area.

The business offers collection and delivery services and possesses specialist equipment that other dry cleaners in the area don’t have, enabling more custom. Furthermore, large department stores in the area recommend their services, leading to increased custom.

Our clients wished to retire after running the business for 16 years and instructed Altius Group. Interest in the business was high, with 5 viewings and 3 offers, and the business was sold to a first-time buyer.

Although this is their first business, the buyer has over two decades of experience working in a dry cleaners and knows the local area well. Island Dry Cleaners Ltd provided the buyer with a turnkey opportunity to begin their portfolio, with the deal now reaching completion.

Upon finalisation of the sale, our clients said: “The experience with Altius has been excellent and we are delighted to have completed. Our negotiator has always been on the other end of the phone when advice was needed, and I have already recommended Altius to local businesses.”

The buyer said: “The negotiator responded to all queries quickly and provided excellent service. I am very happy the deal has completed and would highly recommend Altius to negotiate deals of this nature.”

The Sales Negotiator said: “I am over the moon that we have sold the business for our client. It was our pleasure to assist, and I wish both our client and the new owner all the best”.