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

Manufacturer of wide screen print for retail, events & construction sectors

Manufacturer of wide screen print for retail, events & construction sectors

Situation faced:

TAIGA was introduced to an under-performing Private Equity owned business currently implementing a turnaround plan. The situation was complicated by poor stakeholder management and relations.

Outcome achieved:

TAIGA supported the Directors in refinancing the position with another asset based lender which resulted in 100% recovery for the pre-existing bank. TAIGA also undertook an in depth review of the turnaround plan for Private Equity owners with suggested modifications based on real time information.

Duration: 4 Months

End: 2019

Small scale, rapid response, gas power plants

Small scale, rapid response, gas power plants

Situation faced:

TAIGA was introduced as a temporary market change had led to a rapid drop in profitability and subsequent cash pressure. The cash issues unveiled deeper corporate governance issues within the Group.

Outcome achieved:

TAIGA introduced a cash management team in support of the existing accounts team and in collaboration with Directors constructed a plan for recovery that facilitated a financial restructuring of banking facilities. The Company remains EBITDA positive.

Duration: 3 months

End: Feb 2019

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

Multi-disciplinary global service provider to the renewables industry

Multi-disciplinary global service provider to the renewables industry

Situation faced:

Significant losses over a 4-5 year period, £0.75m of HMRC arrears, a cost base geared to expansion, little or no financial information, disparate and fragmented management and an overly complex group structure.

Outcome achieved:

Time to pay arrangement agreed with HMRC and £2.8M of cost savings delivered within 4 months.  In collaboration with management a 3 year recovery plan was built which sees the business reduce its cost base, focus upon its core strengths and generate regular profits.  Succession planning and fundraising to deliver this plan in the long term continue. Exited at the point where managementand shareholders believed they had sufficient funding to deliver the recovery plan.

Duration: 7 months

End date: February 2014