Business Development Consultants Taking Business Forward

DJR ASSOCIATES BUSINESS DEVELOPMENT CONSULTANTS – TAKING BUSINESS FORWARD BRIEF TURNAROUND CASE HISTORIES 1 Bowden Way, Failand, Bristol BS8 3XA Tel: 01275 - 394606, Fax: 01275 - 392807, e-mail: [email protected]

 Introduced by Bank as needing urgent support, developed turn around and re-financing strategy for £15m turnover transport/produce group resulting in complete refocus of the business. Provided implementation support to the company in the re-organisation, introduction of management development programmes, improved management information and production systems, development of marketing strategy focused on major retail groups. Acted as Part Time FD for 18 months and project managed the sale of the business to a competitor and exit for the major shareholders. (Banbury/Stemwest Group - 1991 – 1997)

 Introduced by Bank, avised a private printing company on its business, systems, organisation and marketing strategy with a view to strengthening the sales and profit base as part of a longer term plan to develop a succession strategy for the major shareholder. Additionally, helping negotiate and set up a joint venture with a major customer to manufacture a range of specialist stationery products. Identify merger partners and negotiate terms of deal to develop business. (YHL – 1993 – 2000)

 Assisting the distributors of a high quality pet food buy the business out of receivership, re- negotiate supply lines, establish administration and reporting systems and act as initial part time FD. (Europa Pet Foods – 1998 – 2009).

 Advising holiday/travel business on strategies and reconstruction options to avoid receivership and protect value for shareholders. (Festive Holidays – 2003)

 Advising publishing organisation on strategies to integrate a new acquisition to remove costs and restore profitability, developing business plans and future funding strategies. (Mature Times – 2003 – 2004)

 Advising small niche instrumentation engineering company on its future business, marketing and finance strategies and plans to exploit a changing market place. (C-tronic – 2004)

 Advising small specialist waste management and cleansing company on turnaround strategies and refinancing to exploit market opportunities. (Crossplant – 2003 – 2004)

 Introduced by accountants, advising electrical contractors on finance re-structuring, implementing informal CVA to avoid receivership, developing cost cutting programme and turn around strategies focused on strong core business. (A’Court Electrical – 2000)

 Introduced by accountants, acting as Financial Consultant to specialised legal practice and providing support to implement improved management reporting systems, strategic advice leading to re-focus/de-merger of practice into particular specialist market niches. (Sansbury Hill – 1999 – 2000)

 Introduced by accountants, advising and acting as Part Time FD and Chairman to a recent VC backed MBO/MBI, in outdoor products industry, to re-organise management team, negotiate with bankers/creditors and introduce improved financial controls/cost savings to restore an acceptable level of profitability. (Sandford – 2002 – 2006)

1  Introduced by Insolvency Practitioner, advising a private flower/plant company on its future financial structure, identifying potential partners and project managing sale of business to a larger Dutch supplier to multiple retailers; (Bloomers – 1998 – 2000)

 Advising a specialist coatings and aggregates distributor on its future marketing and financial strategy and structure, negotiated the setting up of a joint venture with a major quarry company to exploit the trend towards supply in pre-packed form. Continuing to assist the joint venture on subsequent acquisition and development opportunities, as NED. (Hardy Aggregates – 1998 – 2002)

 Advising a specialist architectural partnership on its strategic options and helping merger negotiations with a major competitor, thereby avoiding likely receivership/major loss of value (Architren – 1999)

 Advising the management of a major game food processing company buy out from the founding family, raising the necessary finance and move the business into more value added markets. (Glen Game – 2002)

 Introduced by Accountants, advised specialist demolition contractor on recovery strategies and acting as part time FD to implement agreed programme, including negotiating with banks and major creditors. Significant turnaround achieved within six months, with profit improving to £160k from loss of £150k. (Lawson Demolition – 1998 – 2006)

 At the request of its bankers, advising specialist engineering tool manufacturer on turn around strategy. This required cost cutting, fund raising and improved marketing, which was followed by assistance in the development of a strengthened sales team, customer diversification and internal reorganisation, to put the business back on a profitable growth path. (Jefferies tools – 1994 – 1995)

 Advised on exit strategy, located potential buyers and negotiated sale of major west based re- fridgerated transport and warehousing company. (Green Haulage – 1996)

 Introduced by accountants, advising Horticulture grower and importer, major supplier to multiple retailers, on re-financing and strategic direction to ensure terms of CVA are complied with as basis for recovery. (Allendale Nurseries – 2000)

 Introduced by VC’s, advising management and venture capitalist shareholders on recovery strategies and management/systems re-organisation for industrial steel fabrication business under-performing its original buyout plan. (Garren Lockers – 2003)

 Advising commercial cleaning company on financial and organisational strategies to grow from a regional to a national business, acting as part time FD. (A-Z Cleaning – 2003 – 2005)

 Introduced by lawyers, negotiating with HMCE re substantial VAT debts and a resultant winding up petition to have petition dismissed and bank account unfrozen to enable a potentially profitable business in the provision of security services to continue trading. (Amoeba/KC Security Services 2005 – 2009)

 Introduced by bank/accountants, acting as part time FD and turnaround consultant for a £15M turnover business in sport and leisure sector, resulting in lower costs, closure of unprofitable division, improved business model and financial control to win back confidence of bankers. (STAG – 2004 – 2009/Case Study 1 in IFT Application)

2  Negotiating with Inland Revenue a time to pay agreement re significant PAYE/NI arrears in a labour services supply business following major £200k bad debt, jeopardising a sound business’s future. (Five Star Personnel – 2005)

 Introduced by bank, providing turn around consulting support to a west based window manufacturing to re-structure the operation, negotiate with bankers and key creditors and develop a turnaround business plan to demonstrate the viability of the business going forward. (Window & Glazing Consultancy – 2005 – 2007)

 Advising a professional with cash flow problems due to recent health issues negotiate deferred payment terms with Inland Revenue and VAT. (Beasley – 2005 – 2006)

 Introduced by bank, advising a media and communications business on turnaround strategies incorporating new banking arrangements, restructure/downsize of group, fund raising, improved reporting systems, time to pay creditor negotiations, appointment of new accountant and general business planning. (Caer Publishing – 2005 – 2008)

 For a security business beset by major cash flow problems following a major shareholder dispute, manage the transfer/pre pack of the business to a newco to protect business value, with the liquidation of the old company, with full agreement of customers. (Amoeba/KC Security Services – 2005 – 2009)

 Advising and project managing the exit from a loss making joint venture by a specialist contracting company. (RJN – 2007)

 Advising an insurance brokerage on recovery options following a breakdown of financial control systems and deteriorating financial performance, (DC & Co – 2007)

 Project managing the merger and exit planning of two neighbouring businesses in the print finishing industry. (Avon Dies – 2007)

 Introduced by bank, advising a growing furniture importer on its growth, financing and systems strategies and acting as part time FD, latterly assisting in sale/merger with another family business to reduce costs to ensure survival. (Stoneberry – 2006 – 2009)

 Acting as turnaround consultant and advising the family heirs on the succession and future strategies for a security business following the premature death of the owner. (KC Security Services – 2007 – 2009)

 Advising/mentoring a growing catering company on its financing and marketing strategies, and developing suitable business plans. (Sauce food Design 2007 – 2009)

 Project managing the sale process for an Internet software company to a larger US based competitor, when it was agreed remaining independent was no longer viable. (WebHost Automation 2005 – 2007)

 Advising a facilities management company on share option strategies for the recruitment of a new sales and marketing director bringing in his business in exchange for a sizeable equity stake, and a further project to secure finance for the acquisition of another similar sized business. Currently preparing business plans to support new bank finance request to finance expansion strategies, subsequently following a fall out between two directors, acting as turnaround adviser to save the business by transfer to a Phoenix. (Electrabuild 2007 – 2009)

3  Introduced by Insolvency Practitioner, negotiating, project managing and negotiating finance for a £8m turnover international giftware company, in addition acting as turnaround consultant to ensure Business Plan robust and viable to meet bank and MBO needs and to return business to profit, through cost cutting and margin enhancement. (Parlane 2008 – 2009/Case Study 2 in IFT Application)

 Introduced by Insolvency Practitioner, acting as part time FD and turnaround consultant to multi million pound leisure sector family business needing to restructure to reflect reduced market and increasing bank pressure, and to restore an acceptable level of profitability nad cash flow. (Chelston 2009/ Case Study 3 in IFT Application)

June 2009/V1.20 IFT – Turnaround Case Studies