MANAGEMENT TEAM OF THE YEAR
Sponsored by:
Winner: Selwood Group
Before a break for the dinner main course, came an award with a difference – the first title of the evening not contested by professional advisers.
Under the spotlight was the performance of those directly affected by the deals – the company management teams – based on their strategic thinking, involvement, handling and achievements following a recent deal, and their commitment to ongoing growth.
The four contenders for this title were:
• Andante Travels (Specialist Tours) – led by Ian Finlay and Safia Bhutta
• Bargate Homes – led by Gerard Price and Angus Cook • Kondor – led by Robert Haycock • Selwood Group – led by Chris Garrett
Andante Travels knew the route to St. Mary‘s well, having been nominated for this award last year. Would they go home victorious?
Andante has performed impressively since the original MBO in April 2013, increasing revenues from £3.7 million to £7m in 2015. The team has completed three acquisitions including Archaeological Tours in New York, Arblaster & Clarke and Historical Trips, which creates a group with revenues topping £10m. The group has recently been subject to a secondary MBO, which delivered a successful exit for Panoramic.
Winchester-based bespoke property developer Bargate Homes is regularly shortlisted for prestigious awards. This time the assessment focus was on the management team under managing director Angus Cook and chairman Gerard Price who worked with Prowting Investments and RBS to raise growth capital in what was hailed ‘a groundbreaking deal‘ within a sector that remains challenging for banks and investors alike.
A year ago, Kondor was involved in an MBO backed by HIG Capital to allow the chairman and founder, Malcolm Bartlett,
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2015
to exit the business. The transaction was challenging but completed to a tight timescale. Kondor employs 250 people in its Christchurch headquarters and chief executive Robert Haycock‘s aim is for the firm to continue as the industry benchmark while growth is maintained.
Pump hire specialist Selwood completed a successful refinancing with HSBC as new lender, providing wider shareholder participation and a stable base for the business to enter its next phase of growth. Described as having an ‘exceptional management team‘, Selwood has improved margins in recent years, despite some challenging times, and is praised for its customer service and the quality of its hire fleet.
PwC director Becky Bridgen (right) presented the winner‘s award to “a growing company founded in 1946, now with a turnover of £50m and employing more than 400 staff“: Selwood Group.
Afterwards, Selwood CEO Chris Garrett (centre) revealed that the recession had provided his management team with a reality check, the need to re-assess the business, invaluable experience, and the opportunity to change.
“The recession galvanised our management team. Teamwork isn‘t always about agreeing; it‘s about finding a common path after positive discussion. Sometimes it‘s the toughest decisions that define you.
“At the early signs of recovery we invested heavily in our business – in our people, training, communication, and equipment.
“We spoke about employees being our biggest asset, but had treated them as a commodity. That was the big thing we addressed, so our people felt empowered. After all, our business is built on customer service provided by our people.“
This had led Selwood to achieve good recent performances and, through the Award deal, raise a substantial amount of money to set the business up well for the future.
www.businessmag.co.uk
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