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Supporting your business to succeed
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Our winter edition of Manufacture looks at the outcome of our recent outlook survey and key topics impacting the manufacturing sector at present.
Our top ten recommendations for business owners considering their international strategy.
Our survey covered a wide range of topics varying from Brexit, prospects for the future, processes and resources, raw materials, employment, business support and funding, fraud and cybercrime and many more issues affecting manufacturing.
The findings of our survey indicate that optimism for the future is understandably tempered by the uncertainty around in the survey period. However, there was still a good deal of positivity for the future which we hope will become reality as the year progresses.
Produced in collaboration with the Confederation of British Metalforming (CBM) participates included a range of businesses nationwide, across a number of sectors.
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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.
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.