Taking the decision to sell a profitable, growing business can be tough. But as Marc Noel explains, when your business is peaking, that’s exactly the right moment to move on…
Marc Noel and his fellow shareholders formed Impress Sensors near Reading in 2002, and the business quickly established a best-of-breed reputation as a specialist manufacturer and distributor of pressure, temperature, level and distance sensors. With double-digit sales growth, high levels of exports, growing profitability and a strong pipeline of major new projects, business was booming. So why on earth did they decide to sell?
“I think the main thing for us, was the fact that we did not want to take the business to the next level,” Marc tells us. “It was at the point where it needed probably another five years investment in time and money, and another layer of staff.
“We could have done it - don't get me wrong - but it would have been difficult. That made selling a stick or twist moment.”
In his forties when he engaged BCMS, Marc was younger than many business owners when he took the plunge. “I've come to realise that time is important and you can't buy that. My children were leaving home and I wanted to spend more time helping them. I'm not the sort of guy who's going to go and buy a boat or a Ferrari – I was quite happy with my old banger and a nice level of income. I knew wanted to be relatively comfortable, and it was nice to do it at a younger age!”