Case Study - Project Orange

The Business: Revenue $36M, 3 sites, design and build customised integrated safety solutions for mine site light vehicles. A BRW fast growth award company.
 
The Brief: As Interim GM and Board Advisor lead the turnaround and implement solution(s) to achieve business continuity and assist Directors personal affairs from exposure to financial distress. Time frame 6 months.

Background: A mining services business grew quickly to $36M following the growth of the mining boom, this generated optimism to invest in further growth, new sites, new high tech equipment, progression towards a corporate structure, and expanding inventory anticipating further growth.

However the business was severely impacted by the mining slowdown where revenue declined 50% almost overnight, coupled with high fixed costs the business was now in a severe cash crisis.

Acting as the Interim GM, we provided critical leadership to progress a range of working capital initiatives to stabilise the business, restructured the cost base by 55%, then recovered an equity raise process which resulted in the business being sold to a large corporate.

We then managed the transition and handover from the old to the new start-up entity in a complex legal transition, including voluntary administration support, assets sales and stakeholder transition within a tight time frame.

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PACE Outcome Assessment.
Using a Problem, Assessment, Corrective Action, and End Results framework, the review of the project headlines are: