• From being a manufacturing subsidiary within a large group the business has been transformed into a standalone business.

• A vision and strategy has been developed focusing the business on the aroma and fine chemicals market.

• First year profit targets were achieved (EBITDA £3.6m).

• Surplus assets were sold realising £1.1m.

• A refinancing has been agreed with the bank (RBS) which will return cash to the shareholders including the VC in excess of 150% of their original investment.

•  Reviewed vision & strategy for the group.

• Pre-tax profit and EPS in 2002 was 24% ahead of the prior year.

• Share price increased by over 50% in 2002.

• Appointed Chairman of Remuneration Committee.

• Member of Audit Committee.

• Led the purchase of the loss making company from the receiver, revised the sales and marketing strategy, and instigated operational improvements, which generated £500k of PBT in the year following acquisition.

• Sold surplus assets generating £360k.

• Repaid £800k of debt.

• Acquired £3m turnover specialist coatings business from plc, increasing customer base and giving additional manufacturing capacity.

EXECUTIVE

NASDAQ quoted ($2.5bn t/o) employing 1300. A leading global distributor of mobile telecommunications equipment.

65 employees on one UK site with pick, pack and despatch warehouse. 

Created turnaround plan. Re-motivated demoralised workforce with team building & mentoring. Reorganised management information systems and introduced cashflow management that took bank balance from reducing and threatening £100k to £3m in four months. Cut debtors by 18%(£1m).

Introduced premium pricing campaign and revised sales team incentive structure to eradicate loss-making customers to build long-term customer loyalty.

Regular contact with US parent who due to turnaround, changed plan from sell or close the business to one of developing the business.

Management of currency exposure of £30m.

Identified potential corporate acquisitions and opened initial discussions with potential venture capital partners.

Management of £250k promotional budget with manufacturers for special promotions, point of sale, Internet & press marketing.

Developed and mentored management of business and identified successor in view of decision to develop career as Portfolio Chairman.

Group Finance Director with 130 staff in eight countries.

Created European acquisition strategy and successfully acquired businesses in Europe to take turnover and EBITDA from £100m and £13m to £700m and £73m respectively in two years, to become European No 1 boiler manufacturer.

• Led successful acquisition negotiations of Italian business for £83m that moved Baxi from No 10 to No 6 European market position with aggregate EBITDA increase from £13m to £27m pa.

• Working with SG Hambros successfully negotiated acquisition of Blue Circle Heating division. Raised £600m through Societe General requiring presentations to shareholders, SG Hambros, UBS Warburg & Industrial Bank of Japan. The acquisition took turnover from £200m to £700m and EBITDA from £27m to £73m pa.

• Negotiated sale of radiators business to Finnish purchaser for £190m at 10 PE

• Working with KPMG & SG Hambros sold five businesses for £13m in sanitary ware, ventilating systems, aluminium die-casting and foundry to UK & US buyers.

• Management of £250m currency exposure, £50m investment fund and £3m venture capital fund in association with Close Private Equity.

• Management of ERP multi-currency & language IT system (Movex) across 6 country sites. Invested £2m in installation of ERP system into Italy.

• Closed one factory and one headquarters to save £3m pa.

• Created pan-European purchasing and marketing strategies that saved £5m pa

• Lead role in sale of Baxi to Candover/Electra for £370m enterprise value.

• Successfully managed flotation process with SG Warburg, DLA and Grant Thornton -  achieved in less than 3 months; produced 10-fold increase in shareholder value.

• Established City relationships with institutional shareholders, investment bankers, stockbrokers, analysts and financial PR.

• Ensured compliance with listed company requirements (Yellow Book, City Code, Cadbury, etc.).

• Set up manufacturing joint venture in USA with Danish partner.

• Negotiated sale of business to KKR at significant premium to flotation price ultimately crystallising over £150m in shareholder value.

• Devised corporate acquisition strategy and business plan to meet anticipated telecom market explosion and negotiated £5m funding including £2m development capital and £3m bank debt.

• Successfully acquired GEC subsidiary that double turnover and production capacity required for new £30m Nokia contract which increased PBT by £3m pa. Secured new contracts with Marconi, Ericcson & Motorola, for £10m to achieve additional £750k profit.

• Invested £1min new ERP system to cut inventory and production and improve bottom line by £250k pa.

• Successful disposal of Canadian joint venture.

• Led new product development and sales drive, which increased turnover, in 2 years, from £19m to £58m, PBT from £0.7m to £5.0m, employment levels from 374 to over 700 and customer satisfaction from 40% to 87% with Nokia, Marconi, Siemens, Motorola etc.

• Positioned the business for flotation.

• Increased sales from Can$4.2m to Can$7.0m and turned Can$1.4m loss to Can$250k profit in three years. Set up team building and mentoring to re-build morale. Retrained sales team and led sales campaigns. Cut labour costs by 15% to save £200k pa.

• Developed new business with Nortel, Newbridge etc.

• Completed difficult negotiations with Bank of Montreal on overdraft/cashflow issues that were undermining long term future of the company.

• Purchased shielded room business to develop product range of company.

• Negotiated sale of business for Can$1.5m plus license agreement.

• Full stock exchange listing procedures leading to flotation with market capitalisation of £20m at PE of 22 raising £4.5m new equity.

• Successful acquisition of three companies – total consideration £14m.