Fast-growing branded products business, MPM, had successfully operated in the pet food space since its launch in 2002. With turnover increasing year on year by 25%, the business took PE investment from ECI in early 2016 in order to capitalise on growth opportunities in the UK and facilitate an increase in international sales. The investment also brought the opportunity to improve and solidify internal processes to support the desired growth.
Chief Operating Officer James Bracewell, approached Rowan with the requirement for a Financial Controller, capable of evolving to CFO, to support the business through its PE journey.
Rowan supported COO James, to identify the key challenges and opportunities that MPM faced post-investment. Having identified the desire to capitalise on the significant growth opportunity posed by expansion into the US, and the subsequent need for a foreign exchange strategy, Rowan advised on the specific situational experience and behavioural profile required for the incoming Financial Controller.
Having already agreed that the individual should be capable of progressing to the role of CFO, Rowan were clear that, not only did the individual need to be hands-on and implement improvements to the internal accounting system required, but they should be comfortable in a change management environment and possess the traits of a future senior leader.
Having leveraged a strong network of PE experienced Finance professionals, Rowan successfully identified David Millward as the right match for the Financial Controller role. Bringing experience in supporting the PE transaction of a national, leading medical provider and managing the period of change that comes with accelerated growth, David was right for the immediate need, and capable of embracing the future growth ambitions.
David has been instrumental in leading the finance function through the investment cycle and played a pivotal role in the change of ownership and the 4.4x return for PE house ECI in 2021.