Advents Partners Role
A £3 million funding package was implemented providing much needed working capital to this £10 million loss making company.
Our position on the board was to assist with restructuring and strategy. Securing additional finance totalling £5 million giving the company the growth fund required. Outsourcing a fully integrated manufacturing facility overseas and consolidating UK sites was key to the development process.
Focus then turned to the direction of the business and the service provided. Investing in research and development transformed the business from a box shifter to that of a customer focussed solutions and services provider.
Re-focussing the business led to securing major UK and overseas contracts through proven excellence in service and the provision of innovation solutions, facilitating an exit deal of £12 million achieving an 11 EBITDA multiple.