When the World is Not Enough: Turnaround or Not?

What causes business failure – poor idea or execution? What lessons can I learn from business failure? When can a business be turned around? In this panel, entrepreneurs discuss the lessons they have learned from business failure and the challenges in turning businesses around.

 
Patrick Sheehan
Environmental Technologies Fund

Patrick is a founding partner of ETF - the Environmental Technologies Fund. ETF is a new London-based fund with a mandate to invest across Europe in Cleantech companies.

Patrick has 20 years prior venture capital experience with 3i, investing in the UK, mainland Europe, the USA and Israel. His IPO’s of note include Oxford Asymmetry, Capita, RM, The Maiden Group, Shire Pharmaceuticals, Activcard and Netstore. During this time he has gained a reputation as thought leader and innovator, investing in a wide range of technology companies across a variety of sectors. For example he was founder of 3i’s Emerging Businesses team in 1994 and subsequently was founder of 3i’s Silicon Valley operation. He ran this for first four years until his return to the UK. Since then while continuing to invest he has also been reviewing the attractiveness of new sectors in venture capital, and this has led to his co-founding ETF.

Patrick is Chairman of the EVCA Venture Capital Committee, and was a member of the BVCA Emerging Growth Companies Committee from its inception until he moved to the USA.

Prior to 3i, Patrick was a research engineer at GEC HIRST, designing short fibre-optic networks to achieve real-time pattern and signal recognition. He also did consulting work for Marconi Space Systems on satellite antenna design. Patrick has a PhD in Electronic Engineering from University College, London.

Matthias Strobel
Former CEO, SixP

Matthias was a CEO of SixP.AG, a PE backed sports merchandise product and sports apparel manufacturer with Headquarters in Germany. He started to built this company from scratch in 2001. Within the next 6 years and as licensee of all the biggest international football clubs and Formula One drivers, the organisation grew to a global supplier of own developed, co-branded products for almost all major retailers worldwide as well as promotional product partner for blue-chip companies as e.g. Emirates, Mastercard, Coca-Cola with 29 employees and £6.5m revenues. In 2003, the company founded 2 subsidiaries, for one, a London based brand licensing company, Matthias was appointed Managing Director too. In early 2007, the company and its subsidiaries have been sold to a Canadian competitor.

Before he joined SixP in 2001, he had founded his own Marketing Communications, Brand & PR Agency in 1995 working for clients within capital goods industry.

Matthias started his career in 1992 working for a Global industrial conclomerate as Executive Head of Communications & Public Relations. During that time he oversaw the establishment of 2 sales offices in Beijing and Shanghai for its companies Joint-Ventures in China.

Matthias was educated at Hohbergschule Stuttgart (Germany) and Academy of Business Administration Stuttgart (Germany). He obtained a Bachelor’s degree in Business Administration (BBA) and International Marketing and Marketing Communications.

Michael Loizou
Investment Director, Hamilton Bradshaw Private Equity Investors

Michael has extensive experience in dealing with financially under-performing businesses spending the last 5 years in KPMG’s Restructuring team in London. During this time, he has majored as an advisor to senior and asset backed lenders, management teams and other financial stakeholders.

Michael has undertaken a number of business reviews to assess their viability, together with providing strategic options to effect turnarounds, financial restructurings and refinancings as well as advise on how to best maximise and create value. He has also undertaken a number of cash management and cost reduction exercises and been involved in effecting operational restructurings. In 2004 Michael commenced a 14 month secondment to a ‘work-out’ team of a UK clearing bank where he implemented and oversaw the bank strategy in a number of turnarounds and managed exits of both bilateral and multi-bank situations.

Prior to KPMG, Michael spent 8 years in the Corporate Recovery teams at Grant Thornton and BDO Stoy Hayward, where he also traded and disposed of a number of insolvent companies.
Michael has experience in a number of industries with varying company size, from SME’s to FTSE 350 and debt sizes from £3 million to £500 million.

Michael qualified as an accountant in 1995 and has held an Insolvency License since 1999.

Chris Hanage
Founder, Stag & Groom and currently Sales Director at Player X