Turnaround of a major services business based in the UK.
A business established some 60 years ago and pioneer of Feminine Hygiene for many years. It boasted the highest market share and was well known as the ‘Brand’ for washroom hygiene.
Like so many other businesses it had not anticipated huge changes in the market and other players coming in and diminishing market share. The result was catastrophic, not only was the business losing 30% of its customer base every year, its turnover had reduced by 26% over a 3 year period.
As part of the new leadership team appointed in 2012, we needed to embark on a huge change program, not only stopping massive account churn but selling new, profitable businesses at lighting fast speed to ensure the business survived.
We delivered a 4-stage strategic plan which became the roadmap to turning this business around. In a 5-year period we moved all business indicators and had a 14% per annum growth happening in a market that was growing a 3% per year. In 2016 we presented a paper to our group board delivering 2 options; Invest to realise continued double-digit growth, or divest with the benefit of significant multiples. The business was acquired in 2017 delivering a large multiple to group.
New Business Sales
Customer Churn
Transformational Progress
The Turnaround Complete
