Design & supply of plant for oils & Fats and oleo chemicals.

Design & supply of plant for oils & Fats and oleo chemicals

Situation faced:

Company owned by a PE Funds and Management under an LBO structure. Due to 2008 / 2009 crisis investment in this market decreased drastically. Refinancing and renegotiation of the debt was necessary.

Outcome achieved:

Complete review of the cost structure, change in the Management and executive reorganization. This has enabled the Group to renew with good profit (from 0 to 7%) and positive cash flow (+ 50 M€).

Duration: 2 years

End date: October 2011

Global manufacture and distribution of parquet flooring

Global manufacture and distribution of parquet flooring

Situation faced:

The Group, based in Zurich, Switzerland had breached its banking covenants and was loss-making. Main markets of Europe and the US were hit by the recession as house building starts and consumer confidence fell. Manufacturing operations in Sweden, France and Switzerland were high- cost and subject to intense competition from Chinese suppliers. 

Outcome achieved:

Manufacturing costs and staffing levels were reviewed and process improvements made where required. Other cost reduction programs were agreed and implemented. Reporting improvements were made and cash management processes implemented. A new 3 year Budget was created to support the necessary financial restructuring. The restructuring was agreed and implemented on time, including obtaining all Swiss tax approvals. Overall debt was reduced from £560M to £280M allowing the company time to ride the recession.

Duration: 11 Months

End date: May 2009