CASE STUDY 3

MANUFACTURER OF LABORATORY SMOKE CABINETS

Premier Laboratory Systems Limited is a manufacturer of fume cupboards for educational and commercial laboratories. The Company was incurring losses in excess of £300,000 on turnover of close to £3million per annum when it approached Symphony.
After incurring losses in excess of £300,000 on turnover of close to £3million per annum, Symphony helped the Managing Director restore profitability to the business by identifying the root cause of the increasing losses and review customer & product profitability.

Symphony accepted the roles of part-time executive Chairman and part-time Finance Director. Over the coming years they helped the Managing Director restore profitability to the business by:

  • identifying the root cause of the increasing losses
  • reviewing customer and product profitability based upon “Total” cost methodologies
  • upgrading the central tendering process to focus on profitable products and key customers
  • acquiring the shareholding of a passive shareholder who was draining the business of critical cash resources

In 2010 Symphony led the sale of the business to a leading Spanish group in the same sector, Mobilab Projectos SL, ensuring continuity of employment for the management team and staff and a 10-times money return for investors.

Symphony continue to provide ongoing financial support to the business.