An offshore private equity fund with a majority position and management rights for a distressed local mining operation.
The operation was encumbered with a self-appointed vendor team, nepotistic contracts, legacy management and poor morale.
We appointed an interim Chief Operating Officer for an operational and organisational review. On recommendation, we then replaced the management team and appointed an experienced board.
The new board and management team quickly realised the business plan was flawed. After a rapid restructure and cost-down they then deployed a new strategy to save the company.