Selection of Brief Case Studies

Private Healthcare Groups (mental health) linked by cross guarantees and common ownership.

T/o £12m, low secure hospital lossmaking, care homes profitable, bank debt £22m

CFO of combined group and Board Director of hospital company.

Turnaround plan progresing succesfully prior to challenging CQC inspection of hospital. Trade sales achieved to dispose of all four activities.

 

Multi brand global group manufacturing and marketing bathroom products.

Pre-refinancing T/o c Euros 1bn, debt Euros 1.5bn (including shareholder loans). 28 factories in Europe, global marketing network, c 9,000 employees.

Interim Cash Management Officer.

Reporting to the Worldwide CFO supporting successful complex refinancing with daily management of cash and treasury function in context of differing insolvency legislation impacting on subsidiaries throughout Europe. Project managed the selection and successful implementation of a web based liquidity forecasting system.

 

UK market leader in the manufacture and installation of precast flooring.  

T/o £97m losses £11m, bank debt £70m, employees 816.

Deputy Group CEO and Director of all group companies.

Detailed involvement in successful and complex financial and operational restructuring together with specific responsibility for cash management. Turnaround plan initially on track and trade sale following general market collapse.

 

One of the UK’s larger independent forklift truck contract hire companies.

T/o £8.0m, losses £2.0m, debt of £22.0m.

Manager of Turnaround team reporting to the Board.

Completed complex financial restructuring, stabilization and trade sale.

 

Agricultural company supplying supermarkets in the UK.

T/o £30m, loss making, highly geared after major investment in new facilities.

Interim COO.

Improved management information by introducing product profitabiity reporting and implemented significant cost savings prior to strategic supply agreement with trade partner.

 

Distribution and services group in UK and Ireland.

T/o £20m, loss making, debt £5m.

Non Executive Advisor, previoulsy CRO

Negotiated new money to secure survival, partly restructured group to improve profitability and improved management information.

 

M&E contractor subsidiary of PLC.

T/o £85m, profitable.

Interim CFO.

Prepared annual budgerts, moved to more granular reporting and introduced new procedures to improve contract cost recognition.

 

Import and distribution in UK, Europe and US.

T/o £13m, lossmaking, debt £4m, significant stock overhang.

Interim Commercial Officer.

Working with the Board to reduce debt and stock to target levels, restore profitability and improve management information.

 

Complex major arts lottery project and Charity with trading subsidiary.    

 Income £11.7m but reducing as start up grants were being phased out and deficits were imminent.

Interim Head of Business planning (effectively CRO).

Leading the executive team in successfully restructuring the operations and obtaining new funding to secure future.   

 

National UK church charity.

Income £5m, debt £8m.

Advisor to Bank.

Worked closely with charity to successfully “reshape” the organisation, improve management information and significantly reduce debt through asset disposals. 

 

Rail services business.

T/o £3.2M losses of £0.8m debt of £1.5m.

Interim Finance Director.

Serious lack of liquidity. Unsuccessful accelerated M&A; “tidied it up” before liquidation when fixed charge holders were mostly repaid.

 

Bath manufacturer.

Investee T/o £6.6m losses £0.3m.

Business review for VC looking to support the business by increasing its loan exspoure.

Loan increased with conditions.

 

Specialist vehicle manufacturer.

T/o £4.2m, lossmaking.

Business review for VC looking to support and develop the business.

Worked with management to investigate and strategic options, implement turnaround plan and model cash flows for next six months. Profitability restored and new money invested.

 

Agency providing medical staff to public sector.

Investee T/o £9.0m losses £2.2m.

Business review for VC on loss making investment.

Ascertained ‘true’ financial position, assisted management in negotiations with principal customer. Customer cancelled contract and company went into liquidation.