Equinox works with some of the fastest growing businesses in the UK and Europe, searching and selecting exceptional talent through its network of private equity, banking and professional advisory contacts. Ian Wright commented “We pride ourselves on our no hassle, ‘do what is says on the tin’ approach – namely, finding and assessing talent before we introduce to the clients we work with. We do not just ‘stick jobs on websites’.

Ian Wright has presented at various events and his clients include BIG4 Firms of Chartered Accountants, Private Banks and Private Equity players along with Times Fast Track, Tech Fast Track and highly ambitious growing companies.

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And some growth that businesses have to deal with can be truly substantial. One client in a niche area of temporary staff saw rates of growth of over 10% per month. In another case, through winning a single large contract a business saw its turnover go up by 300%, more or less overnight.

And this type of substantial growth will inevitably call at some point for a step change in the management approach required. A sole entrepreneur may well be able to deal with ten, twenty or more staff, but by the time the organisation is ten times the size, the business will, if it and the entrepreneur are to survive, need to have moved to a formalised management structure, with all that will entail in terms of delegation of powers, job specifications, management information and reports.

In addition, as well as balancing the present and future needs of the business, the management of a high growth business will need to try to balance the pace of development and change across each of the different areas of the organisation, so the whole of the business moves forwards as simultaneously as possible across all of its functions.

As an example, if a company employs 50 people and is looking to double its turnover, as sales expand it will have to expand the fulfilment side of the business, production and delivery, as well as ensuring it has sufficient financing facilities to avoid financial overtrading. But it will also have to look at how much its back office administration may need to expand as well to cope with the extra paperwork, perhaps its accounting systems may need upgrading to handle the increased functions, perhaps it needs more staff, who will need to be recruited and trained. As staff levels rise, it may need to expand the management team to include a dedicated personnel manager to look after this function of the business. With the increased numbers may come a need for new premises, and so on.

Ian Wright commented, “Working with Fightshop and it’s founders has been exciting, not only drafting in external expertise but working as a true partner in searching and selecting the best talent to grow an already highly successful and high profile business to greater heights. We have spent a long time getting to truly understand the business before acquiring the talent it requires for highly ambitious future growth. We have appointed a CFO, E-commerce Director and Sales Director as part of a medium term strategy to increase sales, underlying profitability and in the long term saleability”.

Fightshop is recognised as Europe’s leading sports combat retailer and is based in the North West, exporting to 15 countries.

We continue to provide sponsorship to children’s sports teams and actively encourage investment in local teams which provide extra curricular activities for children.

Our network of candidates and strong reputation with Corporate Financiers, Banks, BIG4 and National Accountancy Firms (as well as leading Independent Firms) mean we are ideally placed to facilitate and construct Management Teams with the skills and business acumen to perform MBI and BIMBO deals.

Ian Wright, Managing Director of Equinox Financial Search & Selection commented: “We are busier than ever with PE houses looking to build and plug skill gaps in Management Teams. We have never seen such an appetite for strong management teams as we are doing at present; human capital seems to be the dividing line between getting a deal away these days with deal flow becoming more and more difficult”.

CURRENT MBI OPPORTUNITY:

Our client is a highly successful privately owned business based in Yorkshire, North West. The business works within the import and distribution sector and supplies major capital equipment businesses (it supplies a small number of clients with large amounts of its product).

The business turnover is in excess of £10m per annum and profit remains firm at above £1.5m EBIT.

The incoming MD/CEO will form part of a BIMBO (Buy In Management Buy Out) scenario and will be a gifted and inspirational leader who possesses a strong management style, able to build teams and grow a business from an already successful position.

The new MD will have an operational rather than than financial skillset but will be highly commercial and able to expand into new markets/customer bases.

With a strong sales focused background and a history of growing high volume/low margin product businesses – preferably within a import/distribution business supplying the manufacturing industry, this is a huge opportunity to Buy In to an already very successful business. We have a private equity player ready to “back” the incoming Management Team.

Experience of MBO/MBI situations is also highly desirable but by no means essential if the incoming MD/CEO has a quality track record of growth and success.

MBI of £150k minimum, ideally £250k.

Ian Wright commented “This agreement will put Equinox Financial Search & Selection in a prime position to work with aspiring entrepreneurs and indeed those already running significant, high growth businesses who seek development capital or other forms of funding from the extensive client base which www.fundingstore.com provides.

Over the past ten years we have worked with hundreds of varied business leaders across multiple sectors – from construction, property and facilities management to pharma, biotech and retail; our reach and network of Finance Directors, Managing Directors, CEOs, Non Executives and other Board Members means we offer a bespoke and highly efficient service”

It’s well known that finding funding, along with relevant, trusted advice, can be a time consuming, difficult and often haphazard process, whether you’re an existing business or a start up. There is no single, immediate source of information on the different types of business funding and business advice provider. What’s more, the current economic climate is only making the whole process more of a challenge.

The solution

FundingStore.com, a unique, independent online service which matches businesses needing funding to the most appropriate funders and advisors. The web site covers all types of business funding, including business angels, loans, bank funding, asset finance, leasing, equity and other sources including public sector finance.

The fast growing, high profile SME business is expanding at 50% year on year and as such required a highly strategic and well qualified CFO to work alongside the Founder. Ian Wright commented “This is exactly the type of business Equinox Financial Search & Selection enjoys working with; entrepreneurial, high growth, ambitious private businesses who understand the fundamental need to establish a solid Management Team as early as possible. All too often initial fast growth is hindered by inept or overstretched members of the original Management Team.

The fact that this opportunity was routed to Equinox via the client’s bankers AND Cowgill Holloway shows that we continue to impress our network with our in depth knowledge of the market and our speed of appointment. From receiving the initial phone calls to the client making an offer took less than 10 days”.

Equinox Financial Search & Selection work with highly entrepreneurial businesses across the UK and Europe to headhunt the very best talent across such disciplines as CEO, MD, Finance Director and Non Executive Director.

For an informal discussion or to submit your details please contact Ian Wright on iwright@equinox-financial.co.uk

MPM – a natural pet food company – which has already grown turnover from £4m to £10m in the last 18 months is experiencing huge growth and expects sales to hit more that £40m over the next three years.

Last December it made number 32 in the Sunday Times Fast Track list of the UK’s 100 fastest growing companies and was the fifth fastest growing company outside London.

In the case of MBO/BIMBO [buy-in management buyout] situations, we use various tried and tested methods to attract top talent and this includes extensive networking through the professional advisory, private equity and banking fraternity whereby we are able track and validate the previous successes and technical aptitude of management teams/individuals. “Candidate due diligence” is often just as important as formal due diligence as the impact of a flawed management team can be long lasting and ultimately make a business difficult to sell.

Non-executive directors may add value to the process of selling a business as they are widely accepted by potential acquirers/external bodies as custodians of corporate governance. Where some businesses fail in this respect is they forget that a non-executive director (NXD or NED) is a member of the board of directors of a company but not a part of the “executive management team”.

S/he is NOT an employee of the company or affiliated with it in any other way; they are there to add value by commenting on strategy, risk, performance and people. They should provide independent views on resources, appointments and standards of conduct. Again, they are not involved in the day to day running of business but monitor the executive activity and contribute to the development of strategy

Equinox Financial Search and Selection has been approached to search and select a highly competent and well regarded Insolvency Practitioner to join our clients Accountancy Practice as Insolvency Partner.  The role will lead a small team and be absolutely vital to the success of their already successful department; well connected and well thought of in Manchester.

The business is a long established Firm of Chartered Accountants with a reputation for exceeding client expectations and managing the portfolio of its largely SME/OMB client base with some larger corporate clients.

The ideal candidate will likely be a Partner already, although this Firm has a track record of recognising potential and thuis Insolvency Practitioners who are currentl;y taking appointments, looking to make that “step up” are also encouraged to contact Ian Wright. JIEB Qualified and a solid technical ability is essential as well as a flair in courting banks and work-givers, using wider commercial skills.

Whilst a client following would be welcomed, it is more important that you have the drive (and ability) to build on the exiting incumbent’s portfolio of clients as well as build new and longlasting networks.  As a progressive and ambitious Practice, you will be fully backed in all initiatives and will have relevant resources at your disposal to implement Business Development strategies – however there is already a huge client base of networks and thus potential for significant income to be achieved.

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