Peter: Turnaround Expert

This manager is a business turnaround and merger & acquisition specialist. As a director of a manufacturing group, he took a £65 million turnover business from a turnaround situation into a £120 million operation – overseeing the acquisition and integration of a range of companies along the way.

His reputation as a change and business improvement expert is matched by his impressive academic credentials – a Masters in Business Administration from London Business School and an MA in Engineering from Cambridge University.

Areas of Expertise

• Change management
• Profit improvement
• Business strategy
• Cost reduction
• Business development
• Business turnaround
• Acquisitions and post merger integration

Career Highlights

• Divisional Managing Director – improved manufacturing productivity by 70% while reducing labour costs by £2m pa.
• As Commercial Director developed and delivered acquisition strategy, acquiring six companies, all of which exceeded their profit forecasts. Also improved profitability of operating companies, by reducing head count by 50 and devising raw material sourcing strategy for the group which reduced costs by £1.2m pa.
• Commercial Director of subsidiary of UK PLC – turned around company, from loss maker to market leader with 8% ROS. Increased added value per unit by 50%. Improved business systems, reducing administration head count by 40%. Reduced transport costs by 20%.
• As divisional business development manager – doubled organic growth of two subsidiary companies.

Interim Assignments

• Manufacturer – developed business strategy and identified 160 new business targets to accelerate pace of growth.
• Distribution business – restructured the company and recovered debts for investors in this loss-making stationery distributor. Improved gross margin from 26% to 34%.
• Manufacturer – revised commercial policy and sales organisation of Charta - increasing profits by 50%.
• Government – developed manufacturing strategy including lean innovation and design support for companies.

This Expert in Action

The Challenge

• A PLC had grown through acquisition
• Subsidiaries purchased raw materials independently
• They dealt with 13 different suppliers
• No economies of scale from purchasing
• To reduce raw material costs

What He Delivered

He saved the group £1.2 million in the first year and developed a protocol, which when applied to a larger group company, delivered further annual savings of £1 million.

How?

• Analysed the purchases of each company and met with the subsidiaries to understand their issues.
• Shared with them information on the total group position so they understood the broader issues.
• Met with every supplier to hear their proposals on how costs might be reduced.
• Suppliers offered lower prices in return for larger volumes and more stable supply positions.
• Analysed the product ranges and production facilities plus service performance of each supplier.
• Identified that just four suppliers were required.
• Started an accreditation process to standardise raw material requirements and specifications.
• Identified a list of commercial and service level improvements, and began negotiations with the best four.