Case Studies
Background
TRI is the holding company for five of the UK’s leading textile recyclers: JMP Wilcox, Nathans Wastesavers, Cookstown Textile Recyclers, BIU Group and SWD Premier Clothing Experts.
With a current combined turnover of £90 Million, the businesses work together as one group to create longstanding and trusted relationships with charities, local authorities and other entities, in order to purchase textiles, which are then processed and sold to clients around the world.
Following investment from PE house Waterland, the need for CFO was identified. The individual would need to have the ability to influence growth as an operational and commercial “walk-the-floor” CFO, responsible for managing the transition from a privately owned, debt-free environment to a PE-backed business. Additionally there was the desire for this individual to posses the experience and gravitas necessary to potentially become a future CEO.
Journey
Rowan worked closely with CEO Mark Burrows Smith and Waterland, in order to match the requirements of the role to the behavioural profile and capabilities of the incoming CFO.
In defining the required experience and skills of the incoming CFO, Rowan identified the need for situational experience in transitioning from privately owned to a PE-backed business and driving the M&A strategy, along with the functional experience of PE standard financial reporting.
Rowan appointed Richard Robinson, a high-calibre candidate with an extensive record of professionalising privately owned companies, and supporting in the transition from private to PE backed status, across multiple sectors.
Impact
Richard has nurtured a solid relationship with PE house Waterland through his delivery of rigorous financial systems, processes and reporting.
Richard has been instrumental in the year-on-year increased turnover which saw a record year in 2019 when turnover hit £86m. Under Richard’s financial leadership, TRI went on to acquire Surrey-based Soex UK Ltd in 2022, cementing the group’s position as the leading textile recycling business in the UK.
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