Our client was a senior lending Syndicate of more than 60 banks led by two of the UK’s leading banks. The Syndicate controlled a well known UK housebuilder with a strong market position that had taken on too much debt under previous private equity ownership. A debt for equity swap and financial restructuring had stabilised the business.
- The Role
- The investors required a new Chairman to lead the Board.
- The Requirement
- An urgent requirement to appoint a Chairman who could act as a bridge between the controlling banks and the management team, safeguarding the interests of investors, creating equity value and guiding the business towards a successful exit.
- The Solution
- Three highly qualified chairmen were presented within one week. A Chairman with extensive transformation and exit experience and exposure to construction/housebuilding was appointed.