NIGEL LYON BSc FCA MIFT
Curriculum Vitae
PROFILE
A results-focussed Managing/Finance Director combining strong financial and strategic management, marketing and change management skills.
Successful record of leading/delivering business turnaround, rescue and transformation in diverse situations, particularly where a more creative approach is required. Typically will be called into a business where there are problems - often financial, rapidly assess situation, formulate plan to deliver required solution and then implement plan.
Key strengths/skills include:-
Vision and determination to solve complex problems
Excellent understanding of businesses and the business process
Extensive analytical and investigative skills to deliver meaningful due diligence
Ability to create and develop growth strategies
Protection and enhancement of shareholder value
Management of bank/institutional debt
Hands-on management involvement, if required
PROJECT EXPERIENCE
Qualified as a Chartered Accountant with PricewaterhouseCoopers and then moved into Industry. Extensive experience working in all sizes of businesses/organisations across a range of industry sectors including; print and packaging, technology, automotive, telecommunications, construction, data centres, property management, retail, logistics and insurance.
Spent seven years working in an internationally funded private equity group (Bridge House Capital) which was based in the Isle of Man and offered solutions to high net worth individuals.. Actively worked in the M&A, MBI/MBO and corporate recovery areas and have experience in turnaround, corporate restructuring and marketing.
Experience gained from a range of projects:
Apex GroupRoofing, cladding and building contracting group / Turnover £11m
Appointed on an interim basis to turnaround and refocus the group following downturn in 2008 and loss of bank confidence.
Secured transitional funding prior to finalising additional investment of £800k. Implemented a cost reduction programme and management restructure. Acquired complimentary business as part of expansion programme.
JD Interiors (JDI)
Interior design and office refurbishment / Turnover £10.1m
Appointed by CEO of Shaylor PLC when, recently acquired JDI, experienced significant loss of order book, large losses and haemorrhaging of cash.
Role was to initially stabilise the business and then to implement a staged restructuring plan to bring it back into profitability and integrate fully into the main group.
DSN
Toolmaker / Turnover £2.5m
Initiated and developed the Asian expansion of a small UK tool maker into China.
DSN had a turnover of <£500k, was under price pressure within the UK and abroad and was at about break even.
This change has transformed DSN into a £2.5m turnover, expanding business delivering a 24% net profit with an order book of £2.6m.Initiative involved;
set-up of network of tool makers in SE China with capabilities to produce tools for; plastic injection, single operation, pressure die casting and progression tooling
creation of export network for inward shipping into UK
development of network/links within the UK to finish and pass-off tooling
set-up of UK financing lines
Pinstripe Print Group
Print and print management
/ Turnover £3.1mAcquired business from receiver in 1998. Established a successful trading operation generating £300k profit pa and created various trading alliances including Mitchell & Butlers Plc, Green King Plc and a range of Local Authorities.
Secured second round funding following change of ownership and repositioned business to accommodate market changes. Created a clear management strategy and growth plan to return business to six digit profitability.
Strategic review of all operations, preparation of business plan and implementation to take business through difficult trading times and recession (mid 2008 onwards).
Implementation incorporated a cost reduction programme involving 10 redundancies, across the board salary reductions of 15%-20% and supplier negotiations resulting in improved terms and price advantages. Implemented continual pricing review mechanisms as part of cost monitoring and control. Continuing role to monitor and mentor management team.
Implemented a full CSR strategy incorporating ISO9001 (quality), ISO14001, FSC and PEFC (environmental), ISO18001 (health & safety), carbon footprinting as part of repositioning.
Marlin Group
Sub-contract labour services / Forensic investigation into the misappropriation of £3.6m of VAT and PAYE on behalf of an Insolvency Practitioner.
Coordinated forensic investigation and due diligence work. Reported findings to senior partner. Undertook detailed review of all accounting and related systems and controls. Ongoing work with IP, HMRC and legal team to prepare case against Marlin directors.
Global Marine Systems
Fibre optic cable installation and maintenance / Turnover £55m
Led the due diligence process in the acquisition of the world's largest provider of submarine fiber optic cable installation & maintenance services to the global telecommunications industry, which includes a fleet of cable-laying ships and a fleet of submersible vehicles.
Worked on the restructuring of the company and brought it to a cash flow positive position within 6 months from acquisition. Ongoing involvement in contract tendering and business approach to deliver increase profitability.
Atlantic Hotels
Hotel group / Coordinated and worked on Atlantic Hotels acquisition of a group of 37 Thistle-managed hotels in 2003. This €987 million acquisition for a combined total of more than 5,000 rooms was the largest hotel acquisition in Europe that year and involved extensive and detailed due diligence.
Following the acquisition, worked on the successful turnaroundof this hotel group within the first calendar year. These 37 hotels are owned by Atlantic Hotels together with Morgan Stanley and Thistle.
Victoria Precision
Precision engineering and tool making / Turnover: £1.6m
Advised on acquisition and undertook due diligence for client. Post acquisition, worked on implementing proper accounting systems and controls, modernising the operation and reshaping the sales profile. Reversed sales decline and increased profitability by 20%.
Re-banking of business (£950k) following pressure on turnover in 2009 and loss of bank confidence.
Seafield Logistics Group
Logistics and warehousing / Turnover: £28m
Took Seafield through a pre-pack as part of the Orb/Thistle hotels clean-up following an extensive business and operational review. Stabilised the business and developed key account relationships and returned business to profitability. Acquired the Ken Thomas Group as part of the expansion strategy and integrated the operations into Seafields resulting in increases in operating profit of 15% year on year.
Waterfields Ltd
Major building contractor / Turnover: £70m (annual)
Investigated and identified the cause of a £5m funding gap.
Undertook extensive due diligence to establish what systems and controls were in place and what had caused a £5m funding gap. Implemented accounting system changes and controls. Managed the accounting function and profitable completion of three major fit-out contracts totalling £170m over a 3 year period.
Poole Pottery Ltd
Pottery manufacturer and retailer /
Undertook due diligence prior to client purchasing business out of administration. Post acquisition, managed the finance/commercial operations and established a development strategy including expansion into an additional 55 retail outlets. Sold the business 3 years later with a 35% ROI.
Exante Ltde-application and web developer / Turnover: £3.6m
Management of technology group prior to pre-pack. Then coordinated acquisition by private equity group followed by management/handover to Irish team. Subsequently managed the orderly close down of operation following investor decision to pull funding.
Booker Montague LtdBook debt recovery business /
Managed acquisition and due diligence of business as part of an asset/equity release deal. Integrated into off-shore structure and developed strategy to expand into specialist loans market. Increased profitability by 20%.
Yacht chartering operation / Set-up Isle of Man chartering business.PSiNet Europe Ltd
European ISP provider / Coordinated European budgeting exercise as part of a European restructuring process resulting in a 15% increase in profits.
Managed the extraction of a German property company from European Group. Ran operation for 15 months including the management of complex tax and grant problems amounting to €15m prior to successful sale of business.
edefined.com Ltd
On-line motor trader / Turnover: £2.9m
Advised and worked on the set-up of an on-line motor trader at start of the dot com boom. Developed vehicle sourcing partnerships, on-line marketing/e-trading strategy and delivery mechanisms.
Prepared business for AIM floatation in March 2000 including raising funds based on a £40m valuation.
Sold web delivery platform/IP to GE Fleet Services Ltd for £1m as part of a Booker Montague Leasing restructure.
Unicorn Worldwide Holdings Ltd
Tele-house provider and property group / Turnover: £300m
Managed the accounting and implementation of an accounting structure of a worldwide group involving 80+ companies.
Coventry and Moseley RFC Professional Rugby Clubs /
Advised and worked on the acquisition of two clubs from receiver, set-up structures and operating vehicles and handed profitable entities over to operational teams.
Public telephone provider / Turnover: £8.7mConsolidation of 3 operating businesses. Implementation/streamlining of operations with delivery of 25% increase in operating profit.
Technical Direct
e-application and web developer / Turnover: £1.8m
Developed niche player and drove strategy towards becoming a Microsoft Certified Gold Partner. Managed merger with Technical Direct as part of the growth/development strategy with annual sales increases of 30% and profit of 25%.
West Bromwich Spring Ltd
Spring manufacturer / Turnover: £8m
Managed operation on behalf of Lloyds TSB whilst in intensive care. Rationalised group as part of rescue.
SECTOR EXPERIENCE
Business to Business;Print and packaging, technology, automotive, engineering, manufacturing, lighting, telecommunications, internet services, construction, data centres, property management, retail, logistics, entertainment, insurance
Consumer; Pottery and gift products, lighting, telephony services, entertainment, automotive
CUSTOMER EXPERIENCE
Local Authorities and Government, Brewery, General Public, Corporate Sector, Industrial Manufacturers, Independent Retailers, Franchisees, Tradesmen
CAREER HISTORY
Secantor2008 - Current
Business Support Consultancy
Shaylor PLC/JD Interiors2008 - Current
Construction group
Pinstripe Print Group1998 - Current
Print and print management business
Victoria Precision2006 - Current
Engineering and tool making business
Unicorn Worldwide Holdings/Bridgehouse Capital1999 - 2008
Private equity group investing in companies and projects throughout
the corporate lifecycle from emerging and middle-market companies
to restructuring/turnaround investments including stand-alone
development projects.
Poole Pottery2002 - 2004
Pottery manufacturer and retailer
Edefined.com1999 – 2004
On-line motor trader
Magnetic Media/Technical Direct1996 – 2006
e-application and web developer
Bromley Park Group1989 - 1996
Engineering Group
Rover Group/BAe1986 - 1989
Car Manufacturer
Star Computer Group PLC1985 - 1986
Hardware and software reseller
PricewaterhouseCoopers1979 - 1985
Joined from University. Qualified in 1983. Experience included audit,
computer audit, accounts preparation, taxation and investigation/forensic work.
PROFESSIONAL BODIES
- Fellow of the Institute of Chartered Accountants in England & Wales (FCA – No. 7376479)
- Member of the Institute for Turnaround (IFT – No. 341)
OTHER INTERESTS
- National Council member of the British Printing Industry Federation (BPIF)
- Chairman of the BPIF Government and Industry Committee
- Chairman of the PIPS (Printing Industry Pension Scheme) Management Committee and PIPS Trustees
- Sit on the INDEX governing board as the business representative
(INDEX - is an SME initiative focussed on expansion through innovation and is funded by Advantage West Midlands (AWM), Economic and Social Research Council (ESRC), Engineering and Physical Sciences Research Council (EPSRC) and European Regional Development Fund (ERDF))
- Former trustee and treasurer of Carrs Lane Homes
(Charity – providing accommodation to elderly people – now transferred to Yardley Great Trust)
PERSONAL
Interests include: Sport – particularly rugby, cricket, golf, running and keeping fit. Walking and reading. Charity work and working with Changing Faces and Alzheimer’s Society.
CV Nigel Lyon (v1.12)
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