Engineering services to the Oil & Gas Markets

June 16, 2018 Aaron Reeves

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

September 1, 2016 Aaron Reeves

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

Multi-disciplinary global service provider to the renewables industry

March 1, 2014 Aaron Reeves

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.