Case Studies

Financing & reporting
Introduced forecasting and reporting, thereby fundamentally resetting the business plan to support financing and debt to equity conversion. Finalised and published accounts to relist securities following extended share suspension. (Debt +£40m)

Business turnaround & strategic divestment
Spectacular improvement in sales, profits and cashflow, despite the pandemic. Navigated borders, transportation, quarantines, lockdowns, curfews, accommodation and subsistence. Won contract to manufacture the Oxford vaccine for the European Alliance. Redefined the strategy, sold a non-core business at a multiple of sales, and comprehensively deleveraged. (EV +€1bn) … full report

Financial restructuring & strategic divestment
Worked closely with entrepreneurial CEO on financial restructuring, operational turnaround, systems remediation, strategic divestment and services migration to rebuild investor confidence, repay all bank debt, pay a special dividend and transform the group. (EV +£350m)

Acquisition refinancing
Led complex refinancing for material acquisition to tight timetable, securing attractive commercial terms and financial covenants. Prepared information memorandum, term sheet and financial model. Organised roadshows, negotiated loan documentation, acted as bookrunner, obtained significant oversubscription and set allocations to form bank club. (Debt +€295m)

Accounting restatement & financial restructuring
Finalised extensive restatement of accounts, addressed complicated processes and fixed manual procedures. Implemented rolling cashflow reporting to manage liquidity and rationalise intra-group balances. Constructed a new business model to identify the prospective cashflow and liquidity runway. (EBITDA +20%)

Financial restructuring, acquistion integration & treasury re-engineering
Finalised restructuring of debts and negotiated subsequent amendment to baskets to accommodate growth. Completed and integrated acquisition of major distributor. Guided the business through recovery to deliver on plan. Delivered significant tax benefits through rationalisation of intra-group transactions. Obtained favourable trading status with major customers, despite leveraged capital structure. Developed a comprehensive financial vision. (EBITDA +100%; EV +€1bn)

Business recovery & financial restructuring
Formulated budget based on economic fundamentals despite global economic turmoil, and consistently delivered on plan with strong recovery in margins and profits. Undertook road shows to facilitate negotiations between stakeholders. Achieved de facto standstill, hosted rapid independent business review, received multiple offers, negotiated new loan documentation and financial covenants, and achieved unanimous restructuring. (EBITDA +40%; EV +€80m)

Forensic accounting & company sale
Provided stability and objectivity while working with management buyout team following shortfall in expectations after IPO. Remapped accounting and mitigated tax liabilities from complex inversion of legal entities. Renegotiated financing facilities with bank workout teams to accommodate trading and sale process. Collaborated with advisers to achieve public sale. (EV +100%)

Business turnaround & transformational acquisition
Reorganised and restructured the group to drive turnaround. Developed new strategy, led zero based budgeting, reorganised management, reduced headcount, cut costs, closed loss-making activities and delivered transformational acquisition. Maintained independence and consistently delivered on expectations. (EBITDA +£20m; EV +200%)

Acquisition & financing
Completed $95m Class 1 acquisition of unaudited private company; structured deal and co-led negotiations; directed financial due diligence; presented rationale to institutions; negotiated clearance of acquisition with trustees and Pensions Regulator; raised £60m of debt through competitive tendering; fixed interest rate, hedged currency and structured financing to minimise tax rate by 6% points; led financial integration plan; recruited VP Finance.

Organic growth
Worked closely with the Divisional CEO in broad role to develop strategy and tactics of extremely successful diversified division with major sales efforts in wide geographical markets, delivering consistent profit growth and improving return on capital employed. (EBITDA +100%)

Merger & sale
Amalgamated three geographically diverse businesses together with divestment of a part, co-directed their merger on time and to plan, delivered a payback in less than one year and transformed the combined business into a world leader in its industry.