Sector: Sales Promotion/Integrated marketing agency
After the acquisition of the company by a US based entrepreneur – the shareholders and Board wanted to relocate the current Head Office to London, as well as expand and open offices in Europe , whilst maintaining bottom line profits across the Group.
The business also wanted to review all current UK offices to determine if sales and costs were being controlled – this led to divestment of some of the UK offices. The company also wanted a full review and improvement of current management systems and workflows so as to maximise returns for all stakeholders.
The business had been doing extremely well over a ten-year period and had recently been acquired by a US based company and was rapidly expanding. The company had many Blue-Chip clients and wanted to maintain and increase current profitability, whilst expanding into different countries.
• Relocate Head Office from outside London to Central London to attract key personnel.
• Open offices in France and Germany to service the largest client of the Group and win other clients.
• Restructure the UK business to facilitate better efficiencies and better KPIs.
• Automate a lot of the manual processes in the business.
• Management Information Systems – needed overhaul and improvement.
• Head Office was relocated to Central London with minimal disruption to business and profits.
• New offices were successfully opened in Paris and Munich.
• Successful acquisition and integration of a design agency for the group.
• Industry KPIs were introduced and costs were rationalised immediately to ensure better returns.
• Client profitability/Job profitability and departmental profitability was introduced – highlighting clearly where the business was making or losing money enabling better critical business decisions – leading to expansion and further acquisitions, as well as divestment of non-performing offices.
• A new finance team was recruited and trained ensuring faster and more accurate management information and more efficient systems.
• Group expansion into Europe.
• Full integration of new staff post acquisition by US owners.
• New improved KPIs led to increased profitability, transparency and better cost controls.
Jim Paterson – European Commercial Director
The Marketing Store’s finance function was dated. The systems were largely manual with a lack of financial/commercial control. To make matters worse, almost all the existing finance team resigned when they were relocated from Hertford to London. A key hire for me was Paul. Paul immediately impressed me as a self –starter who was prepared to roll his sleeves up and sort out the almighty mess we had inherited.
He quickly won over the very independently minded local MD’s. He got on well with all levels of staff – and liaised brilliantly with the The Marketing Store’s head office in Chicago as well as our professional advisors (PWC and MacFarlane’s). He was instrumental in implementing very strong systems and controls across the network. This included playing a major role in the opening of the highly successful offices in Paris and Munich.
I trusted Paul implicitly as did the European Board. He was extremely well regarded and a highly popular member of staff across the whole agency.
Case Study: Paul Purcell (Click here to see his profile)