This was a heavy loss-making UK Subsidiary with a turnover of £60 million. It was heading towards an annual loss of £14.2 million when we won the turnaround assignment. We agreed a risk reward deal based on savings that the CFO signed of as being in the monthly P&L. We delivered £12.2 million in the first year and a little under £2 million in working capital.
The client had 3 manufacturing plants supplying to all the major UK based OEMs. We managed the transformation of every part of the organisation. We established teams to work with the manufacturing sites, warehousing and logistics, R&D, overhead functions, IT and purchasing.