People make a business, which is why manufacturing SME management teams sometimes need the fresh approach and guidance that an outside investor can bring them, says Advent’s Andrew Ramsbottom.
Advent Partners LLP – the Midlands-based specialist investor in manufacturing and production SMEs – has identified stale or weak management as key reasons why many of the manufacturing SMEs they come across find themselves in the doldrums.
When Advent invests in a business, it will look to invest its collective expertise and time in mentoring incumbent members of the management team in the hope of getting them to see and take a fresh approach to strategy, people management and day-to-day activity. If managers are unable to unwilling to change then Advent will, if it must, be pragmatic in making changes to a management team for the greater good of the business as a whole.
Advent itself has been successful in making changes of this manner in the past, most notably in installing Jason Lippitt as MD of TMAT Ltd, in so doing helping transform it from a struggling business into one now turning over between £10m and £15m with exciting global ambitions.
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Andrew Ramsbottom, Managing Partner at Advent, says: “Management teams can become stale, leading to a business losing sight of its vision and its staff becoming demotivated.
“When we invest in a business, we know that people – not money – are the most important factor in helping turn around a business’ fortunes. We will look to offer our many years of experience and expertise in managing manufacturing and production businesses to mentor managers into freshening their approach and to help put the business back on the right path.
“And, if tough decisions need to be made, we will be there to help make them, in the knowledge that doing the easy thing is not always right for the business.”
Advent Partners meets the needs of manufacturing and product-based SMEs by providing capital and support management.
Advent can provide finance of up to £0.5 million per transaction quickly and hasten the due diligence process.
It always takes an equity position within the business and offers 40 years’ combined operational, financial and commercial experience to provide management support to help drive change and deliver success.