A collection of topical issues affecting manufacturing businesses in a period of startling change.
This issues covers Brexit, funding options for growth, VAT regime, recruitment post-Brexit and many more articles you will find helpful to your business.
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We are about lobbyists on the sector’s behalf with Local Economic Partnerships (LEPs), Regional Development Authorities (RDAs), Chambers of Commerce, and local and central government.
We foster links with UKTI via Chambers of Commerce to leverage government incentives for our clients.
Through our extensive Crowe Global network, we offer a global team of experts to advise you on local opportunities.
Many of our partners and staff have manufacturing and engineering backgrounds, giving us an understanding of and empathy with the challenges that the sector faces.
Your journey to success: navigating the business lifecycle
This company, owned by two individuals, manufactured containers for the food industry. The process involves use of presses that have to be kept hygienically clean and automation of production to enable 24-hour working at minimum cost.
We conducted a strategy session with the client. On the basis of this, they formulated a growth plan that aimed for growth. This culminated in the company, whose turnover had doubled, to successfully buy out a larger competitor.
We assisted in the transaction support associated with the acquisition and the subsequent restructure of the resultant business, which moved from three manufacturing facilities to a single, new purpose-built one, harvesting over £2m EBITDA in synergy savings.
The group was eventually sold for a record sum in the industry.
A precision engineering group in the automotive and aerospace supply chain had operated successfully for many years, but by 2007 had experienced a very sudden drop in sales due to the sudden suspension of production at two major clients.
We persuaded the owners not to inject money to meet the short term cash flow need, as it would be soaked up in redundancies rather than supporting the business.
We recommended that a new company be formed, the existing ones they currently traded under being allowed to fail, and that fair market value be paid to acquire the machinery. We helped the new client shape a new winning company strategy that was both affordable and viable.
We were alongside the client during hard negotiations with their bankers, asset financiers and their landlord to secure the machinery, premises and working capital, and the new company entered 2008 with fresh finance, a clear business strategy and a workforce appropriate to the expected future trade.
Today, that company goes from strength to strength, earns good profits, generates cash and regularly wins industry accolades.
We continue to act for the client in a compliance and strategic capacity also and have advised on a series of R&D tax claims too.
Our client was consistently breaking even or losing money. We carried out a ‘waste audit’ that quickly revealed a major issue with rejects, due to overheating of the forgings, an issue which was resolved by the installation of thermostats at a cost of around £100.
The first year savings in energy costs, combined with the savings on production and a more energised and focused management team, has resulted in this company being the main cash generator of a fast growing group.
The owners were impressed enough to ask us to advise on their acquisition programme. We continue to advise the group on acquisitions, corporate finance and due diligence as well as compliance of course. In addition, we have successfully conducted a series of successful R&D tax claims for group members.
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