Engineering Company: Helping to formulate and implement strategy, two days a month

Powertron, a power supplies business near Cambridge, is a long-term client of FD Solutions. We were first engaged to provide a part-time FD service in February 1999 when Richard Brooks was introduced by the company’s auditors, Jones Golding and Co.

Initially, we completed an integrated forecast model and improved management information systems to produce meaningful statistics. We have reduced our time on site by training company staff to complete the majority of the monthly management information.

In 2001 Richard assisted the owner in selling the business to Elektron (formerly Bulgin PLC) and in 2003 Malcolm Durham assisted the original management team by negotiating the buy back of the business from Elektron and continuing the business as Powertron Converters Ltd (PCL).

PCL needed to consolidate two sites and raise finance for fitting out the purpose-built factory and offices. Ian Parlane of FD Solutions produced the forecasts and dealt with the three banks who were invited to tender, agreeing an appropriate financing package.

We continue to fulfil a part-time finance director role through Ian Parlane and Richard Brooks, achieved on average in two days per month.

Mike Carter, managing director, has stated:

“We do not need a full-time finance director, and the part-time service from FD Solutions has given us access to a team of very experienced commercial accountants who bring a great range of skills that I doubt we could find in one individual.”

Miles Rackowe, chairman and founder of Powertron commented, “Ian, Richard and Malcolm have all greatly contributed to the success of Powertron over the past six years. I look forward to continuing successes in the future.”