Pace, pace, pace
We move fast with determination and we launch our teams within days. We have a no-nonsense hands-on approach, and respect the fact that we are dealing with people. We have the privilege to act without historical liabilities, but we learn from the client’s past performance. We listen carefully to those knowing more than us and we tell the truth even when we know this might be upsetting. We rely on simple, well-proven techniques in tracking and ensuring implementation. Our assignments typically follow these five steps:
- Review & Design
Without any legacies or responsibility for the past, we are instrumental in establishing the most appropriate restructuring model
- Take the driver’s seat
We take on key chief officer and/or Board chairman positions, either strengthening the current management or replacing it
- Establish the road map
We rely on a revised strategy, KPIs and operational plans with special emphasis on liquidity and lasting changes
- Get acceptance through communication
We get key personnel on-board or replaced and conduct «Town Hall» meetings
- Drive change
We create value through improved Cash Flow, EBITDA, implementation of lasting change and when applicable, M&A processes
Time is critical – denial often rules
In situations where a business is under-performing or defined as non-core, it is important to act fast and with determination in order to protect stakeholders’ value. Time is always of essence and experience has shown that Boards or other stakeholders rarely take advantage of the time factor. Hesitance and denial are too often the name of the game although history is rather limited on examples where complex corporate issues are solved by more of the same. It is our view that special situations require special solutions. That is what we provide to our clients. Nothing more, nothing less.
Motivate the motivated people
When we get involved key personnel often are relieved, as change is long overdue in their mind. They have been aware of the situation for quite some time, and are struggling with lost motivation. Hence, regaining organizational motivation is a key success factor while restructuring. Our experience is that the «hidden heroes» come forward and are happy to help turn the ship.
Balance stakeholders’ value
It goes by nature that stakeholders will try to optimize their interests independent of what other stakeholders might get. In special situations where corporate value is on a declining trend it is seldom possible to honor all stakeholders 100% and the challenging process of balancing the various stakeholders’ interests is required. This is one of our core competences and experience shows that in order to share any gain, shareholders must also be willing to share some pain. We try to make the pain evenly distributed among the stakeholders.