Situation

• Engaged by minority shareholder of top 5 market leader
• Insufficient ROE to cover cost of capital
• Over-complicated and ineffective management systems
• Internal/external communications challenges - resistance to change and breakdown in investor relations
   

Actions

• Engaged to advise President and CEO
• Review of budgeting, KPI's, management reporting systems and procedures
• Cost and margin accounting analysis
• Established structured communications between shareholders and management
   

Outcomes

• Remedial actions to return business units to measurable profitability
• Identification and presentation of new business opportunities
• Material EBITDA improvement, with ROE returned to industry benchmark
• Liquidity in equity enhanced