Background
TWL Voice and Data Ltd (now part of Solar Communications Ltd), were a successful company specialising in providing quality communications systems and maintenance including telephone, mobile, hosted and cabling to organisations throughout the UK.
TWL appointed Mustard as their trusted business advisers to help with internal issues, growth strategies including acquisitions, and eventual sale.
Challenges
Andrew Nicolson, TWL’s owner and managing director had the ambition to grow and sell the business but was being distracted and demotivated by a small number of disruptive, non-performing team members. Andrew had lost his zest for the business and needed a reboot to achieve his goals.
How we helped
Mustard’s first task was to agree some objective key performance indicators with key staff. Through reporting and reviewing these KPI’s we were quickly able to ascertain those that were “hiding in the long grass”. The members of the team that were open to mentoring and coaching rapidly improved their performance. Those that didn’t like the spotlight, exited the company.
Through Mustard’s Diagnostic we identified the areas that would add most value to the company if they were improved. We took them through our 8 step programme concentrating on clear goals, customer service, operations and sales.
We simultaneously guided TWL through some key acquisitions to rapidly grow it’s contracted monthly income, substantially increasing the value of the business.
Finally, we formulated strategies and implement an action plan to prepare the business for sale. We advised, guided and walked Andrew through the sale process, negotiations and documentation. This resulted in purchase offers from three potential acquirers, and a sale that made Andrew a very happy man.
Key Points
- 90% growth in turnover in two years – £1.3m to £2.2m
- Nominated for Corporate Acquirer of the Year by Insider magazine – Dealmaker Shortlist
- Successful sale to Solar Communications solar-acquires-twl
