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CRO appointment

CRO appointment

Nick Winks was appointed CRO of a PE-backed national central heating maintenance group. After an analysis of the prospects for the business and presentation of a fresh business plan, the stakeholders have agreed to a consensual restructure involving the write down of all senior debt. This restructure completed in October 2010 leaving the Group in a good position to compete to win public sector contracts.

CRO appointment

WayPoint Change has been hired by a national private equity firm to work with the management team of a 2005 service sector buyout which has been significantly loss making in its last 2 financial years and was under significant banking pressure as a result. An operational turnaround has included overhead savings, disposal of a non-core activity and a change in operational model. A return to strong profitability and financial controls over working capital levels have enabled a significant debt reduction.