Challenge

• $ 100m turnover security products company

• Posted 18m loss

• Simultaneously approached by company and bank

• Bank foreclosing, but decided to finance a turnaround following our Diagnostic Review

Intervention

• Leadership:

o Dr. Hajje replaced CEO

o Replace MD and manufacturing Director with Interim Managers

• Support: 6-person consulting project team for 8 months

• Stabilising: cash management, new controls, working capital reduction

• Funding: Company’s Bank

o Renewal: Total overhaul of the business

Results

• Profitable & positive cash flow from month 6 onwards

• Overdraft decreased by 55% over 9 months

• BU Fees recovered in 6 months’ time

• 700 jobs saved

• Company sold after 1 year for $45m

• Bank recoved its full exposure

• Shareholders received $19m