Manufacturer of modular buildings using old Portakabin buildings acquired from the market

Manufacturer of modular buildings using old Portakabin buildings acquired from the market

Situation faced:

TAIGA was introduced to a loss-making subsidiary of a large limited company under interim management.

Outcome achieved:

TAIGA was engaged to lead a business review and implement it’s recommendations. This has subsequently seen the development of the team, an operational refocus and restructuring of the business with a focus on anticipated performance improvements.

Advisory support is ongoing.

Duration: 6 months +

End: Ongoing

Group of Care Homes

Group of Care Homes

Situation faced:

TAIGA was introduced to an EBITDA positive care home Group that was under-performing and over-leveraged with poor quality management information.

Outcome achieved:

As a priority TAIGA introduced cash forecasting and management support and enhanced financial and operating reporting to stakeholders. Working in collaboration with the Directors the team developed long term financial and operational plans and secured ongoing banking support.

Advisory support and cash management continues.

Duration: 5 months +

End: Ongoing

Luxury fashion retail chain

Luxury fashion retail chain

Situation faced:

TAIGA was introduced to a loss-making UK wide retailer with a challenging cash position and poor quality financial and operational reporting.

Outcome achieved:

Introduced cash management and strengthened the team with interim FD appointment. TAIGA supported the Directors in development of turnaround plan based on cost reduction strategies and secured ongoing funding support from the bank to implement the turnaround.

Advisory support and cash management continues.

Duration: 12 months +

End: Ongoing

Engineering services to the Oil & Gas Markets

Engineering services to the Oil & Gas Markets

Situation faced:

TAIGA was introduced to a loss-making Company suffering with a dysfunctional Board and loss of trust with key stakeholders. The situation had worsened to the point where there was a cash runway of no more than 3 months.

Outcome achieved:

TAIGA introduced cash management support as a priority to stabilise the position. Using the time gained by active cash management a recovery plan was developed leading to a competitive sales process. TAIGA supported the pre-pack sale of the business to Endless LLP with all jobs retained and optimal returns for the funders.

Duration: 3 Months

End: 2018

General construction business

General construction business

Situation faced:

TAIGA was introduced to a business facing significant contract losses in addition to a dispute with a large customer. The business was in a critical cash position.

Outcome achieved:

TAIGA worked with the incumbent management team and quickly introduced cash management support to manage the short-term business need. A robust business plan was co-created with the management team and advice provided to manage a challenging situation for Directors.

Duration: 2 Months

End: 2016

Manufacture, import and distribution of branded construction products

Manufacture, import and distribution of branded construction products

Situation faced:

Acting as CRO, the Group was facing rising cash pressure due to under-performance within a manufacturing-led subsidiary - a consequence of operational, sales and poor quality information.  This in turn was limiting the growth opportunity offered by an import/distribution subsidiary that required funding to grow.  The management team was under-pressure, disjointed and there was no up plan to deliver a recovery.   The team had consistently underperformed against forecasts for a long period of time leading to a loss of confidence from their Private Equity funders and they were unsure whether to support the business, and if so, in what form that support should come.

Outcome achieved:

Provided a diagnostic overview to the investors and worked with management to build a 3 year recovery plan and detailed action plans in key operational areas (manufacturing, IT, sales and marketing, customer care and new product development).  Introduced improved cash management techniques and agreed a time to pay arrangement with HMRC covering £500,000 of arrears.  The management team was strengthened with the introduction of a new Finance Director and Commercial Director, and ultimately the plan was supported by the Private Equity investors.

Duration: 4 Months

End: June 2014

 

Wholesaler of Branded Kitchen Appliances

Wholesaler of Branded Kitchen Appliances

Situation faced:

Company had expanded rapidly but had been forced to close its European operations as a result of which the Company was experiencing significant working capital pressures.

Outcome achieved:

Engaged to support management extend its STCF to 13 weeks and improve robustness of forecasting model. Identified significant excess borrowing requirement. Introduced company to potential investors and identified £500K of achievable annualised savings.

Duration: 1 month

End date: September 2013

Secure logistics and cash management

Secure logistics and cash management

Situation faced:

Start up and integration of three separate and culturally disparate security companies from German Administration. Previous management had committed large scale fraud and theft, over £500M.

Outcome achieved:

Company successfully started within stringent government regulations around the security industry. 61 Cash-handling locations , were combined to provide operational and manpower efficiencies (reduction of 50% in staffing and location) and logistic and operating processes. Oversaw integration of new acquisition and new route planning softwarewhich was to reduce total operating costs by 10%.

Duration: 13 months

End date: May 2008