CLIENT:
Fulfilmentcrowd
sector:
Logistics and Distribution
FUNCTION:
CFO

Background

MD Lee Thompson at Fulfilmentcrowd, a global, tech-enabled e-commerce fulfilment business, was introduced to Rowan by Barclays Bank. Having turned over £10m revenue in 2020, the company wanted to achieve £15m with PE investment, and facilitate exit of one of original owners.

With a value creation plan yet to be defined, a tech-minded owner/founder with product experience but not enough commercial and operational expertise and no experience working with PE, Thompson was tasked with appointing multiple new Board members.

Due to a low NPS, Fulfilmentcrowd risked not achieving the growth goals and potentially going into decline.

Journey

Rowan ran a focused and strategic session with Lee and other senior stakeholders, to help them develop and understand the value creation plan. From this session a strategy & people structure for the investment process, and a timeline for the key appointments was created.

From the search, NED Mike McGrath, who was key in helping to further define and implement the growth strategy.#

Key insights and actions included:

  • Defined the brief for a new strategic CFO that could stand up to rigorous PE standards.
  • Defined the brief for a COO with commercial and internationalisation experience.
  • Used Rowan’s best-in-class search and assessment process to identify candidates aligned to the value creation plan and new people structure.

 

What makes Rowan different:

  • Knowledge of PE, given Rowan’s own journey as an investee.
  • Experience of working with preferred PE houses and in the e-commerce sector.
  • Rowan’s unparalleled network of PE-eligible candidates based in the North-West.
  • Consultative approached focused on the process: finding the right solution, not a ‘quick fix’.

Impact

Outcome:

  • Value Creation Plan defined with clear route to achieving optimal structure and primary investment
  • CFO Peter Hosker appointed to drive strategy and provide PE rigour
  • COO Paul Taylor appointed to drive operational efficiencies and internationalisation
  • The business received £7.5m investment from PE house BGF

 

Value to customer:

  • One of the original owners successfully exited after realising equity
  • Successful international expansion – featured on Retailtech ‘high growth’ list ‘22
  • New leadership structure paved the way for multiple follow-on appointments, made by Rowan
"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."
Mike McGrath, Non-Exec Chair, Fulfilmentcrowd
Talk to us today and find out how we can help you achieve your ambition.
Email us Call us

More Case Studies

Minicam

Rowan worked with PE house LDC to strengthen the Board who went on to deliver international expansion & a successful exit for LDC via a trade sale
Read More

Vampire Vape

Established in 2012 by entrepreneurial founders, Vampire Vape are an extremely ambitious manufacturer of e-liquid and other vaping products. Selling into retail & through their own ecommerce channels, the business came to Rowan on the verge of massive growth.
Read More

Social Chain

Finance Team support 900% International Revenue Increase of Dynamic, Marketing Company “Social Chain”. David Cawley appointed as Head of Financial Reporting - built first finance team, moved to Group FD and achieved listing on Dusseldorf Stock Exchange
Read More

Grow your Business

IF YOU HAVE A VISION, WE’LL HELP YOU GET THERE

0161 300 9210