Case Studies
Background
Having recently received minority investment from LDC, specialist manufacturer of pipeline inspection systems Mini-Cam, had experienced a period of significant growth resulting in increased annual turnover of £11m. Founder and Managing Director Nigel Wilson, having launched the business in 1991, had incredible depth of product knowledge but had become aware that support was needed within the business to accelerate the next phase of growth and deliver on the value creation plan.
Journey
Rowan worked closely with investor LDC’s Johnathan Bell, founder Nigel, and key stakeholders to revisit the value creation plans and define the Senior Leadership Team required to deliver the desired growth. Rowan identified that a CFO with significant B2B domain experience, along with situational experience of investment and exits, was required along to bolster the senior leadership team. In addition, the support of a Financial Controller within the finance function would further improve the businesses ability to meet the requirements of a PE investor.
Using our knowledge of the demands that can be put on the leadership team within a PE invested business, Rowan ensured that the right match was found to deliver the growth journey that Mini-Cam were targeting, both at that time and into the future.
Impact
Following the appointment of Colin White as CFO and Johnathan Robinson as Financial Controller, the business successfully expanded from one site to three, including a new European R&D facility in Austria. Significant growth overseas was achieved with Mini-Cam expanding into new markets such as Australia, Scandinavia and the US.
Having increased international sales by 31% during the two year investment period, LDC exited via a trade sale to Halma plc, which saw the business valued at up to £85m.
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