Deal Maker of the Year Awards 2013 WINNER - EDWARD NAYLOR
DEAL: YFM Equity Partners has sold Naylor Industries back to its management NAME: Edward Naylor COMPANY: Naylor Industries POSITION: CEO WEBSITE:
www.naylor.co.uk
FIRM PROFILE
Naylor is a fourth generation, family owned, award winning company, with turnover of £37m, 4 sites and more than 250 employees.
Our roots are in the manufacture of clay drainage, a product which we have made for over 100 years
The key to our growth since 1993 has been diversification;over recent years, we have developed:
• new, hi-tech applications for clay pipes including chemical drainage and jacking pipes for trenchless installation; these more technical products have
DEAL OVERVIEW Q
What are your most important professional achievements at your current company? How
did you do that?
Helping save a 100 year old business which was in danger of failure when I took over on the death of my father in 1993; trebling it in size since then
Q
What education or prior experience helped you succeed at your current company?
I spent 8 years in the City working for accountants Touche Ross (now Deloitte); just before my father died, I was seconded to a German client as acting FD, working in Kiel, North Germany, so I had Board level experience of a business much larger than Naylor. And working with a wide range of clients gave me exposure to different cultures, which helped me understand the sort of business I wanted to run
Q Q
What lessons did you learn on your way to becoming a CEO?
The importance of people- without committed, enthusiastic people, a business is going nowhere. And the importance of communicating with them- they can’t buy in to a mission they don’t understand.
What lessons have you learned as a CEO?
The need for diversity- not just recruiting people in one’s own image.
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worldwide application which has driven our export sales growth
• the Yorkshire • a Flowerpot Company- Britain’s largest manufacturer of ceramic gardenware
substantial plastics operation manufacturing corrugated pipes for cable ducting and surface water drainage
Significant investment in plant and automation since I took over the business in 1993 has allowed increasing competitiveness against other manufacturers
Be enthusiastic. It’s infectious
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Q
Do you admire another CEO or a leader (current or historical)? Why?
I did quite a lot of work with Hays plc in City days and they had a charismatic, entrepreneurial Chairman called Ronnie Frost.
How do you manage organizational politics, and conflicting personalities, interests, and
views?
We have some lively debates but achieve consensus at the end of discussions on most issues. Interestingly, I’m quite often persuaded to change my mind on an issue by my colleagues’ line of argument.
Q
You need a really good sounding board; someone to challenge your thoughts and views How did you overcome those challenges?
Supplementing a go-ahead exec team with a really good, experienced Non-Exec Chairman, David Fletcher (former Chairman & Chief Executive of Sheffield Forgemasters)
Q Q Q
How do you manage the relationship with your Board of Directors?
We have lots of informal dialogue in addition to the formal monthly Board Meetings.
We have also increased entrepreneurship and improved accountability by structuring our business into 6 divisions and appointing a Managing Director for each with substantial autonomy
Q What do you look for in your successor?
Not started looking- I may think about it more when I turn 50 later this year!
What are the key success factors for a CEO?
Customer focus is something that I see as key and I try to spend a substantial part of every week meeting and speaking to customers
What are the key challenges for a CEO?
Generally, what’s good for one stakeholder is good for all although in a family business, employee interests probably rank higher than elsewhere
Open-door, informal and enthusiastic
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How do you compete in a global business environment?
We’ve developed some great technical products which give us world expertise in fields such as chemical drainage and pipe jacking
How do you compete in a recession? Keep close to your customers
How do you see the future of your industry?
Construction has had a tough time since 2008, although the prospects are looking better than for some time
What advice would you give to policy makers to help the economy and your
business?
Keep building! Anyone who uses the British motorway system can see that our current infrastructure is struggling to cope.
How do you describe your leadership style?
How do you balance and manage various stakeholders’ interests?
What advice do you give to rising CEOs?
UK
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