We are Icebreaker
We are a unique network of interim executives. We offer a different, team based proposition to businesses for optimisation, exit planning and turnaround management.
Our turnaround programs are always rooted in hard facts and are firmly based on many years’ implementation experience. Every program clearly identifies those icebreaker team members accountable for both lead and support and are agreed with and signed off by management.We believe in assigning only tier 1 interim management talent and maintaining that talent through cutting edge CPD
We have access to wider expertise through our collaborative partner network including SMT Consulting (specialists in confidential market research), Bridge Business Recovery (IP specialists), PDT Solicitors (ABL specialist lawyers), Equity FD, Now financial partners, Mazars Corporate Finance and selected Venture Capital and selected Private Equity houses.
We actively seek out struggling businesses in Bank portfolios. We then work with you to identify and define options to turn those selected targets into successful, profitable and growth oriented businesses, whether by actively looking for exit options or by strengthening the bottom line within existing finance arrangements.
Engaging with Icebreaker
Once engaged we will:
- Work with you to review your portfolio and identify qualifying targets (usually, though not exclusively, at least £5M turnover);
- Arrange one day on client site to gather information from senior management (free of charge); and,
- Report back to you on whether the candidate business meets our criteria (can it be turned round or is it inevitaby on the curve to insolvency). Icebreaker will never recommend engaging unless we are sure that we can make a difference; we will typically target a minimum result of 10X ROI on our agreed fee structure.
With your introduction , we then engage with the Client on a fixed fee basis (between £15K and £30K is average) after which we undertake a detailed due diligence exercise to validate our original estimates. Our businesss due diligence is supported by FD level resource sourced either from our collaborative equity partners or from our selected pool sourced from our collaborative FD specialist provider, Equity FD.
We will produce a written report setting out our turnaround plan. This plan will set out quantitative KPIs and milestones against which we will measure our success. Typically, we will offer up to 50% of our fees at risk against meeting the milestones. We ask the client to pay 50% of our agreed fee during the engagement period, the balance will be due only when we demonstrate to you (or a VC if that is the exit route) that we have exceeded our KPI targets.
We never engage on a “singleton interim” basis. All our projects include time for peer review and QA. We look deeper than financial information and business forecasts, we will investigate in depth:
- What is the strategy; is it flawed? What are the weaknesses; are stakeholders expectations being managed?
- Management and key people competencies: can current management deliver their plan or do they need help?
- Revenue forecasts: are they based on hard facts or just wishful thinking?
- Sales proposition: does it deliver only what customers need and no more?
- Supply chain: is it efficient or wasteful (best price sourcing does not lead automatically to lowest cost supply chain)?
- Distribution to end customers: are distribution margins right; what are the alternatives?
Reduce portfolio risk
By engaging with Icebreaker you are provided with a proven team of expert interim managers with the capability to bring innovation, quality assured best practice and a fresh perspective. Icebreaker’s change management philosophy is to embed skills in the client’s team and leave an enduring legacy that reduces portfolio risk.
Increase portfolio returns
By engaging a higly experienced team with robust track records in making change happen, boosting sales and margins, reducing costs, overcoming major challenges and delivering bottom line results across a broad spectrum of business sectors, greater returns are realized in your portfolio. And providing options to maximise cash and subsequent cash returns.
We work on a fixed price basis for the assignment and where appropriate put a significant element of fees at risk against our performance (up to 50%). We may be able to identify additional upfront cost savings after our initial due dilligence of the candidate business by proposing an additional incentive based remuneration program commensurate with the company’s turnaround performance. In every instance we want to ensure that our interests are aligned with yours and the Client’s.