Battery Testing and Warranty Company

Offer Deadline:

SOLD

Project Charge

Hilco are pleased to offer for sale the business and assets of an established UK company providing battery health reports, certificates and warranty solutions to support investment and trade in batteries.

The Opportunity

• The Business operates in the EV sector providing battery health reports and warranties, predominately supporting second-hand car dealerships
• State of the art technology which can quickly and autonomously determine the battery State of Health (SoH) of 80% of EVs on the market
• Distribution agreements with one the world’s largest motor warranty insurers in the US and a major dealer services group in the UK

The Business

• Founded in 2018 the company built battery degradation models and secured grant funding to develop the business in the provision of battery health tests, reports and certificates; with its warranties helping power investment in battery assets.
• Utilising AI and actuarial modelling, the battery health reports provide third part validation and independent assessment and predictive modelling of battery behaviour and performance
• The company have developed software to manage and monitor warranty policies, which help to boost confidence in the global second-hand EV market
• Experienced management team and established workforce
• Significant brand equity established over the Company’s trading period
• Operating from two locations in Bicester and London
• Turnover for Y/E 31st December 2022 c.£44k, c.£41k for Y/E 30th November 2021 and c.£162k for Y/E 30th November 2020

Group Assets

The Group’s assets include:

Commercial Contracts – The existing customer contracts and agreements.

The Subsidiary Operating Companies – The two subsidiary companies.

Intellectual Property Assets – The established brand name and trademarks, the software developed by the company, copyright in the website and platform content and domain names.

Database – The database of customer registrations.

Goodwill – The goodwill established since the formation of the business.