SIMON JONES

INTERIM

Challenge

A private equity firm working on the acquisition of a £500m family business that had become hostile and reached a stalemate.

Solutions

As time was of the essence it was critical to work with both parties, to listen and really understand the deal breaker concerns.

• Worked with the accomplished legal teams from both sides to come out of fight mode and offer up solutions to reach an equitable conclusion.

• Tailored solutions to address the deal breaker issues that were held by both parties.

Results

Elegant solutions were developed and constructed so that a deal could be confirmed within two days and signed 36 hours later.

TURNAROUND

Challenge

An NHS Primary Care Trust in London, responsible for £200-300m, needed to meet a challenging financial target – to balance the books for the first time since its inception over 10 years previously.

Solutions

• An urgent review of financials was undertaken to create, adopt, bolster and extend saving schemes.

• Development of brand new schemes with healthcare experts.

• Set up of an effective Programme Management Office, including ongoing maintenance.

• Held to account the Management Team and Project Managers on a weekly basis to underwrite delivery. 

Results

The PCT ended up the closest to financial balance since its inception. This was an excellent collaborative effort with responsive and enthusiastic client staff, external experts, and a rewarding outcome.

INTERIM

Challenge

A publisher with £200-300m turnover but no senior finance management in place for nearly six months. The business was ‘rudderless’ and demotivated with year-end looming.

Solutions

• A reorganisation and rationalisation of the finance function.

• Sourced and supplied short-term (internal colleagues) and long-term resources to meet urgent statutory deadlines.

• Streamlined processes and delivered two large operational projects with additional project management resources.

• Recruited a suitable finance director and managed a successful hand over.

Results

All statutory obligations were met, morale improved and the new finance director has remained in post.

​

TURNAROUND

Challenge

A top three player in its sector, this was an underperforming business in a static market, with market share slipping away. There was an unwieldy shareholder structure with poor collaboration and tense relations all round. 

Solutions

• Stabilised the cash burn rate of the business, and configured the finance function to better serve the company.

• Trained staff in cash flow/liquidity management.

• Re-opened communication between staff at all levels, managing some difficult personalities with sensitivity.

• Refinanced the business by constructing a viable sensible business plan. 

• Negotiated the sale of the entire business.

Results

Despite awkward situations, the brutal truth and constant communication proved worthwhile. The business is now well-funded with appropriate room for growth. The previous owner received a significant premium and the previous funder recovered 100% of credit line without losses. 

CHANGE

Challenge

A private equity house that needed to demonstrate success and raise funds in a short timeframe. In total, four businesses needed to be sold, two of which were underperforming.

Solutions

• Performed an urgent review of all four businesses and developed an overall plan with management. 

• Advised the founding partner to lead all negotiations and  appointed a Big Four firm of accountants to handle all corporate finance work.

• Negotiated a firm of lawyers to handle and coordinate each geographic jurisdiction.

• Created prospectuses and credible financial plans that adhered to local regulations.

Results

All businesses were sold within 15 months and all valued beyond the sum required by the investor. All four are now thriving under new ownership and two of them include the original management teams.

TURNAROUND

Challenge

The major lender of a listed UK conglomerate requested a turnaround director be appointed to protect its interest. With an annual turnover of £700-800m the business was stressed rather than distressed and underperforming in a declining market.

Solutions

• Raised short-term funding and sold a subsidiary.

• Manipulated the finance function to deliver a daily cash flow and creditor management regime.

• Reviewed the management team and made appropriate changes to roles and responsibilities.

• Re-energise the sales process.

• Developed a credible business plan from short-term outlook to a 10 year growth plan.

Results

An increase in turnover and profitability over the following two years in real terms. Two years after the turnaround, the business was sold for a significant premium.