entrepreneurs 29
Pictures by Angus Thomas
You have said that growing the business has given you the opportunity to get involved in horse racing, as an owner – tell me more?
Racing is my passion, and sport is in my blood – my dad was a professional golfer and a mad passionate racing man and football fan – and I’d always wanted to own a racehorse, but there was no point in doing it until I had enough resources to be able to do it properly. In 2005 I bought my first racehorse, Jackella, and I’ve now got eight in total. Again, you have got to reinvest. We’ve had some success with the horses, but from jump racing, Ultima has got a fantastic box at Cheltenham, which is used for entertaining both customers and staff, we can all get involved. Ultima doesn’t own the horses, financially they are separate, but any corporate entertaining and sponsorship we do is all around racing. I am very fortunate that the success
of Ultima has allowed me to follow my passion in horses and build my dream house overlooking the Thames, which recently won a RIBA award for architecture. Equally, through my racing contacts, Ultima has benefitted and its profile has increased greatly through advertising, sponsorship and corporate entertainment. It has been a win-win and the continued investments keep me focused on helping to take the business to the next level.
So it’s very much two-way traffic, then – the business allows you to do the racing and building, but in turn they feed back into the business?
Yes, everything is interlinked. We have a property business which is separate from Ultima, yet rents the buildings to Ultima, and in turn has allowed us to make a couple more investments, but it’s all down to Ultima. The key question I get asked is “Are you going to sell the business?” I get offers all the time. There are many reasons why I wouldn’t sell this business: in no particular order, one is because I’d like my family to be involved in it going forward, I think that would be a great thing for them to do, if they want to do it and it is right for the business. Two, it’s a great business and it keeps me motivated. Three, because we have no external shareholders, and there has been no pressure to report short-term profits, we have always taken the long view and have a better business with unlimited potential as a consequence. It’s such a great business and it’s unique. Ultima is my life and I could never give it up. All these people who work here are more important than anything, you don’t give that up lightly.
What are your ambitions for the future? Are there more business ideas in you?
The strategy of the business is to remain independently-owned; all the shares are held within the company and, in an ideal world, I’d like to keep it that way. I can’t see myself investing in another business because there are so many areas in this business to invest in. All the good
THE BUSINESS MAGAZINE – THAMES VALLEY – NOVEMBER 2012
business ideas I have are related to Ultima – there is so much scope! We did acquire a company, now called Ultima Risk Management, and that was a very successful investment. There are so many opportunities for Ultima and the plan is to reinvest and continue to grow the company organically. In fact I haven’t got the mental capacity to look at another opportunity that doesn’t involve Ultima, because with the time that takes, along with the time I spend with my family, running my son’s cricket team, the horses, working on the house, playing golf and going to the gym, I just haven’t got time. I have no real ambition to set up another business with somebody else running it – I really can’t afford to take my eye off the ball. While I always keep one ear to the ground, I don’t want to spend time and energy on something that I can’t give 100% to – I need to do it full on.
If you couldn’t get to work, what would your ideal day involve? Racing, golf, or something else?
This afternoon, my lad is playing football against his big rival school. Where would I rather be, other than watching him play football for the first team? Nowhere. And the other one would have to be a day at Cheltenham festival, in the Ultima box, with a group of good people, watching horses – you can’t beat that. There’s a big adrenaline rush, it’s fantastic to be there. That’s what gives you a buzz, that’s what you work for.
What would you consider your greatest achievement?
My greatest achievement is building this business to what it is, enabling the best part of 300 people to develop and grow, creating a business that is debt free, that’s got some great customers, that’s got huge potential to grow and is still hungry – that’s got to be the greatest achievement. When Grumeti wins the Champion Hurdle, that might rival it. My tip is Grumeti for the Champion Hurdle at 25 to 1, definitely worth a punt!
Details:
www.ultimabusiness.com www.businessmag.co.uk
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