Help-Link is a UK market leader in energy efficient domestic boiler and central heating installation, service and maintenance.
The Challenge
Following the collapse of the subsidised “Affordable Warmth” market, Help-Link had seen revenues halve in the space of 12 months. The business required strategic direction, operational restructuring and day-to-day tactical management to enable it to exit “Affordable Warmth” and recover its position in domestic installation.
Strengthened the management team with 5 new recruits
Improved operating profit by over £20m
250 jobs safeguarded
The solution
To return the company to profitability, we led an aggressive cost-cutting programme and re-engineered the business’ go-to-market proposition and strategy. We implemented a targeted investment in its operational platform, systems and infrastructure, designed to create a business of scale with a strong national footprint, attractive to a trade participant.
To support this, we helped the business strengthen its senior management team through a series of key appointments, including a new Chairman, CEO, CFO, Sales Director and Operations Director.
In addition, we recognised the opportunity for the business to divest its insulation subsidiary Miller Pattison, with the objective of reducing its cost base, releasing cash from enhanced working capital management and improving operational efficiency.
The Outcome
An improvement of over £20m in operating profit in an 18-month window. Sales growth of 32 per cent in FY18, returning the business to pre-“Affordable Warmth” levels.
Over 250 jobs safeguarded and a full recovery to all trade creditors and third-party funders.
Disposal to HomeServe plc international home repairs and improvements group, valuing the business at up to £22.7m and representing a positive return on the equity investment.
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