Chief Executive - PE Backed Industrial Products & Services
Our client is a market leading private equity backed industrial / manufacturing business based in Yorkshire and the northern Home Counties. The business combines industrial technology with modern engineering practices to create a critical service to their customer base. Their customer base includes businesses in the industrial, technology, healthcare, oil and gas and utilities sectors Combined with a broad set of product solutions, they are also one of the UK’s largest suppliers of service and support, providing complete asset lifecycle management.
Our client employs c.250 FTEs and has three sites in Yorkshire and the northern Home Counties. Yorkshire is the principle site with manufacturing, sales, engineering and back office operations. The Northern Home Counties sites consist of primarily sales and sales support.
The Chief Executive will be required to spend significant time at each site, although they can be based from either. Current revenues are circa £30m and it has a healthy balance sheet. Following private equity investment last year, the business continues to invest in its management team and as part of this investment, they are seeking a Chief Executive who will lead the next stage of growth and ultimately lead it through a successful exit in 3-5 years.
Requirement for a Chief Executive
The incoming Chief Executive will be responsible for the leadership and management of the business including the overall operations including sales and marketing, manufacturing, product development, communications, logistics and finance across all sites. Ultimately, the aim is to lead the business towards a successful exit in 3-5 years.
Key elements of the role:
- Ultimate responsibility for the leadership and P&L of the business
- Drive and be responsible for revenue and profitability growth
- Enhance and refine the current strategic plan to ensure the business has a clear plan to become a market leader
- Develop the business’ product and service offering, as well as routes to market to ensure market differentiation and broadening of the existing revenue streams
- Play a key role in winning and managing key client accounts and establish a winning strategy for a competitive market
- Develop and enhance the executive team with complementary skills, knowledge, bandwidth and energy
- Provide leadership and motivation to ensure a high-performance culture is achieved based on commitment and accountability
- Liaise closely with shareholders and other stakeholders on a regular basis
- Improve business processes, organisation and reporting across all facets of the company
- Lead the business towards further profitability growth and support the shareholders in positioning the business for their ultimate exit
- Identify the goals of the organisation in the long, short and medium term
- Convene a Board of Directors with specialist skills in different departments
- Work alongside the Board of Directors to create a strategy
- Seek opportunities to work alongside the Sales and Marketing Department to identify new customers and opportunities
- Identify the challenges which the company faces
- Work with the Directors to determine new opportunities in the marketplace and devise ways to take advantage
- Have an overall understanding of the operating environment and how changing conditions may affect the business
- Set budgets for the relevant departments for the trading year
- Communicate regularly with investors, shareholders and the Chairman
The candidate will have:
- A successful track record as a CEO or a Divisional Managing Director of an autonomous unit.
- A proven record of significantly increasing shareholder value.
- 10+ years in a high value manufacturing or engineering environment
- A very high level of commercial awareness and possibly from a sales background.
- Demonstrable experience of devising and implementing innovative strategies
- Implemented strategies which have grown market share and opened up new sectors
- Excellent customer engagement skills and an understanding of the importance of strategic account management
- Inspirational leadership skills and the ability to motivate employees
- Proven organisational and communication skills
- High levels of analytical and problem-solving
- The ability to make decisions quickly and decisively.
- Leadership: The role requires the Chief Exec to lead and motivate staff as well as represent the company with customers and suppliers through personal drive, energy and focus.
- Advocacy: The Chief Exec will be the public and private face of their organisation and needs to be able to effectively promote its aims.
- Interpersonal Relationships: the Chief Exec will need to build relationships with a variety of people, from shareholders, investors, banks, suppliers, customers and staff.
- Financial Acumen: The Chief Exec will have to set, operate and monitor the achievement of the budget and take whatever action is required to meet the financial objectives.