My client is a fast-growth leader within niche metal-based engineering. The business recently completed a management buyout with Private Equity backing to help take the business to the next level and to take advantage of several exciting growth opportunities. Our mission is to find succession for the current MD, a commercial leader who will lead the next phase of growth towards a maximised exit.
My client offers bespoke products and solutions designed and engineered on-site at its Yorkshire-based headquarters. The business looks at each of its clients’ needs and designs world-class solutions specific to their requirements. The business has enjoyed impressive growth this past 12 months with revenues growing by 60% in this period. The organisation is currently enjoying a strong pipeline and has implemented the right team and structure ensuring a healthy cash-flow position. Therefore, the business is perfectly placed to take full advantage of the significant further growth opportunities that exist. The business is also about to invest in a new ERP system and a new 20,000 square foot state-of-the-art engineering site-facility.
Within my client’s business there exists a solid platform for expansion with a very strong and talented team (68 people in total) and world-class products within a diverse range of clients and sectors. The role of the new MD will be to lead and implement the right growth-strategy in order to keep up and expand upon the recent levels of growth ahead of a maximised exit for all shareholders. The successful candidate will also be incentivised with meaningful equity which should represent a significant personal capital-gain upon exit.
This individual must have a background in mechanical and/or industrial engineering. They must also have operated as an MD/general manager or in a similar board-level role within smaller, autonomous business units (likely £10-50m turnover) and where a sleeves rolled-up mentality is applied. Although this individual needs to be exceptionally commercial and strategically growth-orientated, they must also adopt a “lead from the front” attitude in taking the business forward particularly in terms of professionalisation around systems and process improvement. They must have a grounding in operational excellence and will need to oversee the site move and ERP implementation in creating a world class operation.
The new MD must be forward-thinking and commercially biased, externally focussed and will have dealt with and sold directly to customers. They will become the face of the business and the champion in promoting the businesses leading product-propositions to the world. This person must be adept at contract negotiations and will ensure that successful sales and relationships are commercially viable throughout the delivery lifecycle. Although driving sales is key to growth, it is imperative that this is done sustainably ensuring the business can deliver on-time and to budget and margin with a maximised ebitda.
The successful MD will have come from a similar projects-based, application engineering environment most likely within metal-orientated manufacturing. They must also be numerate and analytical with a focus on cash and ebitda growth, and therefore must have previously owned a P&L.
- Contractually and commercially astute with experience of contract negotiation
- Gravitas to build and develop strong client relationships with leading blue-chip clients
- Proven general management experience of profitably growing a low/medium volume engineered make to order manufacturing business within the industrial sector
- Proven track record of leading design for manufacture processes within a lean manufacturing environment
- Commercially and financially astute with a solid understanding of financial accounts and company administration
- Excellent leadership, communication, and teambuilding skills
- Working knowledge of ERP systems in an engineering environment
- Background in metal fabrication or engineered products highly advantageous
- Experience of selling and engineering products and solutions to large industrial companies
- Dynamic, energetic, highly motivated ambitious and highly entrepreneurial
- A commercially orientated target driven engineer.
- Be able to operate both strategically and operationally to deliver profitable growth
- An individual able to demonstrate gravitas and presence.
- Demonstrate the ability to empower, engage and motivate others