28 finance
High-level approach and an established reputation – it’s a winning combination
FPN Chartered Accountants is a new venture from two well-known and highly- regarded local names – Antony Fanshawe and Rosemary Penn-Newman – offering a unique mix of corporate finance and strategic advice. The Business Magazine’s Sue Hughes spoke to them
New year, new start is precisely what happened to Antony Fanshawe and Rosemary Penn- Newman, who are now offering a unique mix of corporate finance and strategic advice from FPN Chartered Accountants, keenly building their corporate finance work from their new base at the Ocean Village Innovation Centre in Southampton, but covering the south coast up to London.
A well-known and senior licensed insolvency practitioner, Fanshawe qualified as a chartered accountant and licensed insolvency practitioner with the then Price Waterhouse and set up independent corporate recovery practice Fanshawe Lofts in 1990 in Southampton. Penn- Newman qualified as a chartered accountant in 1987 and joined Fanshawe Lofts in 1991 where she developed the company’s corporate finance practice and acquired a reputation as an innovative professional with the ability to deliver creative solutions. Her career has seen her undertake a number of restructuring and turnaround cases covering every sector. Both left Begbies Traynor, which acquired Fanshawe Lofts five years previously, in December.
Enjoying support from their network of contacts throughout both the Solent and Thames Valley regions, they are excited about starting a new company and keen to develop business. “We know from experience that there is always space in the market for a firm of experts who combine a long-established reputation with an up-to-date, commercial, high-level approach,“ explained Fanshawe.
www.businessmag.co.uk
FPN offers succession planning, M&A, buy-and-build strategies, selling, MBOs and MBIs, raising debt and equity finance, restructuring, and dealing with downturns. “Not many people can work well operating in the twilight zone, when a business needs a solution before formal insolvency occurs,“ continued Fanshawe.
The pair are leading a small team but reckon that one of the keys to their success will be ’a low and flexible cost base combined with a great deal of experience and we hope not a little expertise, so that we can deliver great value to clients, while making a decent living and investing in the future of the firm’.
Rosemary Penn-Newman
“There is a significant gap in the market for a multi-sector CF service, covering SMEs in the £1-50 million turnover bracket,“ continued Penn-Newman, who is currently working on a range of deals which represent a cracking start for the new business.
“We’re seeing a lot of overseas interest as buyers look at retirement sales for family businesses; they are looking to pick up an interesting business with good intellectual property. UK assets are relatively cheap for overseas buyers at present and trade buyers have cash. There is equity available for the right business proposition.“
A senior member of the insolvency profession, Fanshawe has served on the Council of R3, the insolvency practitioners’ trade body for many years and established a new Thames Valley region of R3, which he chairs. Having worked in a wide variety of sectors (construction, property, information technology,
Antony Fanshawe
engineering, football and professional services), he is currently supporting solicitors and barristers with litigation advisory work and greatly enjoying the ’fine tooth comb’ aspect: “It’s not really a mainstream part of recovery work, rather an unusual service line, but an environment I very much enjoy – and it helps being established.“
While more traditional deals are being undertaken, such as selling a well-established local business which has been through hard times recently, FPN regards itself as a very traditional firm.
“We have a good understanding of local business and can help entrepreneurs make the big decisions. We bring the broader perspective to our clients because we have run our own business for 18 years – starting it, going through expansion and acquisition, selling, and launching a new venture in FPN,“ continued Fanshawe.
So, what’s it like, starting again at an ’advanced age’, as Fanshawe posted on the new blog, as he is one of the grey wave of over-50s embarking on a new venture? “I have to say it’s been the most enormous fun. I thoroughly recommend it if you are fed up with your job and need a change and a fresh challenge. We have had to learn a huge amount about everything from setting up computer systems, building our own website, dealing with regulators, setting up companies, answering the phone and taking messages, organising diaries, typing, making coffee and buying biscuits – all the stuff most executives of our seniority have had done for them and which probably puts them off doing what we’ve done.
“Having done it before and worked in the Solent area and London for a long time, we have a well- defined plan, sculpted by years of business knocks and not a few triumphs. There will be surprises on the way and we have a few up our sleeves too.“
Details:
Antony Fanshawe 023-8038-1956 07979-103275
antony@fpn.uk.com
Rosemary Penn-Newman 07798-886525
rosemary@fpn.uk.com
www.fpn.uk.com
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MAY 2013
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40