Client Case Study
Group of Consulting Engineer Companies
Issue
This group, originally family owned and until recently highly profitable, had a turnover of approximately £5.5 m. As our client, they needed our assistance on several fundamental issues:
- The senior director and major shareholder wished to retire. The other shareholders wanted to do a share buy-in but the company’s reserves were insufficient to meet the agreed value of his shares.
- The retirement of the senior director left the group lacking in direction and it quickly became unprofitable.
Our approach
UHY Wingfield Slater structured a deal with HM Revenue and Customs whereby the share buy-in was carried out over a period of time, enabling the company to generate reserves to fund the retirement deal.
We carried out a management consultancy exercise which assisted the new generation of directors to allow a leader to emerge, and also analysed in depth the management of the company, its customer base, its products, and its innovation plans. We also benchmarked the company against its competitors and established key performance indicators.
Outcome
Our assistance led to a complete reorganisation of the group, significant savings in administration costs and establishment overheads. The company is now trading profitably again.
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