Interim Finance Director


When the manufacturer of a well-known branded product in the paper industry found itself in difficulties, it needed to not only take radical steps to ensure the business stayed afloat, but also realised that in the long-term the company had to be sold.
Alium was asked to help it find an interim manager that could assist in this turnaround by implementing a recovery plan and managing a large redundancy programme – a high-pressure job at a time of crisis. Alium found an experienced interim finance director who had the temperament and the skills needed to manage the transition and deal with the many different stakeholders – from the unions to ultimately potential buyers.

The interim management executive began by managing the solvency position and the cash flow through the development of good relationships with key suppliers and customers, and the negotiation of favourable terms. He established regular contact with the bank, increasing confidence as the necessity for funds was gradually reduced through cash management and the sale of assets.
Then when a new IT system went live shortly after his appointment, he assumed control of the project – which was in danger of negatively impacting the business still further – and within three months had solved the problems.

Finally and crucially, the interim manager assisted in the strategic planning for the sale of the business, investigating the possibilities of an MBI, managing the due diligence process, dealing with the investment bankers, managing the gathering and filing of the 'war room' information, liaising with the lawyers, auditors and reporting accountants of the various potential buyers. The conclusion was the transition from a subsidiary in a Swiss public group to a division in the UK public group under new management.

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Alium is by far and away the most professional interim recruiter I have come across to date."
Interim Programme Manager
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