Fulfilmentcrowd - Building an investable Board

Rowan appoints NED and whole Board, facilitating £7.5m PE investment and exit for owner

Background

fulfilmentcrowd Is a disruptive, cloud-based tech company, which provides fulfilment and other value-add e-commerce services, primarily in the SME space.

The business was set up in 1992 by David and Sylvia Gregson, with son Lee joining soon after. Lee Thompson joined in 1998, and after a long stint as Sales & Marketing Director, during which he shaped a growth strategy, was elevated to MD in summer 2020.

Shortly thereafter, Lee was recommended to Rowan through Shakira Musarat at Barclays bank. The team had ambitious growth plans for the business, which included a desire to raise Private Equity funding to support this plan and facilitate an exit for Sylvia.

Journey

Rowan ran a focused / strategic session with Lee and other senior stakeholders, to help them develop and understand the right strategy for growth, and the people plan to support this, which would ultimately secure external investment.

  • Firstly, a strategy & people structure was agreed for the investment process, and a timeline for the key appointments was created.
  • Rowan then ran an extensive search and assessment process to appoint a NED. This was critical to fulfilmentcrowd’s success, and the appointee – Mike McGrath, was key in helping to further define and implement the growth strategy.
  • After Mike’s successful appointment, Rowan ran further retained searches, appointing CFO Peter Hosker, and COO Paul Taylor

Impact

The NED and Board appointments have proved highly successful for fulfilmentcrowd.

Since Rowan began working with the business, fulfilmentcrowd has:

Clarified its growth strategy, and got the workforce engaged and bought in to this vision.

Became much more suitable for external investment, eventually securing £7.5 million from BGF.

Facilitated the exit of one of the its original owners, whilst remaining on its growth trajectory.

   

The three most important things in any business are the Management, the Management and the Management.

    Rowan understands this, and with my strategic experience and their knowledge of shaping and building out a Board, we were able to make the correct hires to free up Lee Thompson and [Owner] Lee Gregson to focus on their core skillsets; namely, fronting the business and technology development, respectively. This step change is critical to accelerating the business’ rate of growth.

fulfilmentcrowd Non-Exec Chair Mike McGrath

Continued Success

  • Andrew Turner has been recently appointed as Chief Sales Officer to help drive revenue and growth as the business opens up new fulfilment centres.
  • Samantha Statham is successfully working as Head of Customer Experience.
  • Rowan appointee and COO Paul Taylor has defined a clear structure for his Operations team, and has built it out with the appointment of Chris White, through Rowan. Chris’ performance has resulted in a promotion to Chief Delivery Officer, allowing Paul to step up to the main Board.
  • Sam Williams, an FP&A manager, has allowed Rowan appointee and CFO Peter Hosker to focus more on financial strategy, and the growth plans for fulfilmentcrowd.
  • Ronni Lang has been appointed as Head of Marketing, as the business grows its international offering, and she now sits on the operational board.