Paul Turner

Chief Financial Officer at Inivos
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Location
United Kingdom, GB

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Experience

    • Singapore
    • IT Services and IT Consulting
    • 100 - 200 Employee
    • Chief Financial Officer
      • Oct 2022 - Present

    • United Kingdom
    • Retail Art Supplies
    • 1 - 100 Employee
    • Managing Director
      • Jul 2021 - Sep 2022

      Lead the sales process to a PE-backed trade buyer facilitating an exit for the incumbent private equity owners, PHD Industrial Holdings Ltd (formerly PHD Equity Partners LLP)

    • Finance Director
      • Apr 2018 - Sep 2022

      Teaching Art supplies arts and crafts products to consumers and the retail trade. Its membership club, the SAA, is now the world’s largest art community with c.43,000 members who have their own exhibitions, events and benefit from discounts on products. The business is backed by PHD Equity Partners following their investment in 2017.

    • United Kingdom
    • Packaging and Containers Manufacturing
    • 1 - 100 Employee
    • Finance Director
      • Jul 2017 - Apr 2018

      Role as Finance Director, reporting to Managing Director, responsible for:1. Strategic financial advice2. Financial control, reporting, budgeting and forecasting3. Cash flow and working capital management4. Finance team leadership5. Key Stakeholder relationshipsRole as Company Secretary responsible for:Ensuring Companies House procedures, statutory requirements and corporate governance were fully documented and filed (e.g. Board reports, statutory accounts, tax returns, change of directorships and managing the internal market for private share transactions)Key achievements• Developed and implemented improved KPI reporting including Book to Bill ratio, Intra month Sales forecasting and weekly cash flow tracking against plan.• Introduced ‘first of month’ flash P&L reporting.• Reduced lead time on production of monthly management accounts.• Developed and implemented a more rigorous annual budgeting process including ‘Core’ and ‘Target’ budgets for bonus incentive plans.• Designed and implemented a company wide ‘approvals’ matrix to ensure spending was better managed and budget holders made more accountable for their decision making.• Lead and managed a redundancy programme generating annual payroll savings of c.£1.1m. • Secured bank debt funding to support the reorganisation and closely managed the finances whilst executing the plan.• Increased Invoice Finance borrowing capacity to generate greater cash flow headroom.• Successfully kept cash position to plan despite a shortfall in current trading.• Successfully executed a recruitment process to expand the incumbent under resourced finance team.• Initiated and executed a development plan for the Management Accountant to develop into a Financial Controller.

    • United Kingdom
    • Finance Director - Core Functions, Emerging Markets and Gaming divisions
      • May 2016 - Dec 2016

      Role as Finance Director responsible for the following divisions:1. Core FunctionsSetting the Group’s Core Functions strategy and tactical initiatives to drive the performance of its production, technical and facilities cost base. Proactively manage the Group’s cost base and mitigate against any shortfall in revenue to protect profit.2. New Business Ventures and Emerging MarketsFinance lead for the Group’s new business ventures driving key commercial considerations and modelling. Full P&L responsibility for the Group’s emerging markets presence in China and Africa 3. Gaming DivisionHead of Finance with full P&L responsibility for the new Gaming division launched to exploit the sports betting and gaming sector. Co-ordinated the financial due diligence for the acquisition of a small sports gaming app development business.Overall responsibilities included:Ownership and accountability of each division’s global financial results and MI packs (monthly actuals, quarterly reforecasts, annual budgets and five year plans)Preparation and presentation of Board and Senior Management packsLeading the identification and monitoring of key financial and commercial risks including appropriate safeguards are in place to manage the risk of fraudDirectly managed a divisional finance team of seven (London) and additional individuals at the shared service centre (Poland) Reported into CFO with dotted lines into CTO, COO, CCO and CEO of Gaming Division

    • United Kingdom
    • Management Consulting
    • 500 - 600 Employee
    • Associate Director, M&A Corporate Finance
      • Jan 2007 - Apr 2016

      Leisure sector M&A specialist covering Travel, Restaurant & Bar, Cinema, Health & Fitness and Betting & Gaming sub-sectors. Lead financial advisor role encompassing a wide range of deal structuring and negotiation skills. Responsible for managing multiple deal teams on a day-to-day basis. Business development including deal origination, pitching and sector initiatives. Significant exposure to business planning, investment case modelling and negotiating with banks on margin prices and covenant settingTransaction experience includes:Sale of Verdant Leisure to Palatine Private EquityAcquisition of Travel Counsellors by Equistone Partners EuropeSale of South Lakeland Parks to Electra Partners LLPSale of Key Travel Ltd to ISIS Equity Partners and ManagementAcquisition of Forest Holidays Ltd by Lloyds Development CapitalSale of Chez Gerard Restaurants Ltd to Brasserie Blanc LtdSale of Brasserie Gerard Restaurants Ltd to variousAcquisition of Reed & Mackay Travel Ltd by ECI Partners LLPSale of Encore Tickets Ltd to ISIS Equity PartnersSale of South Lakeland Parks to White Ocean Leisure LtdSale of Picsolve International Ltd to Fidelity Equity PartnersSale of Covent Garden Restaurants to Capital and Counties LtdSale of Holiday Options to Hidden Croatia LtdAcquisition of College Group Financial PR by Vitruvian Partners LLPAcquisition of Kedleston Holdings Ltd by Management and Metric Capital Partners LLPSale of Bartle Bogle Hegarty (BBH) to Publicis GroupeStrategic options review of Apollo Cinemas Ltd

    • Manager, Assurance & Advisory
      • Sep 2003 - Jan 2007

      ACA qualified

    • Project Director, Strategy and Commercial Finance (secondment)
      • Jan 2015 - Jun 2015

      Seconded as Project Leader into the Strategy and Commercial Finance team to co-ordinate a strategic options review and subsequent sale of the Pharmacy division (£200m turnover).Responsible for evaluating whether Sainsbury’s could maximise the value of its Pharmacy division through direct ownership, joint venture or sale to a third party.Reported directly into the Strategy Director and CFO. Seconded as Project Leader into the Strategy and Commercial Finance team to co-ordinate a strategic options review and subsequent sale of the Pharmacy division (£200m turnover).Responsible for evaluating whether Sainsbury’s could maximise the value of its Pharmacy division through direct ownership, joint venture or sale to a third party.Reported directly into the Strategy Director and CFO.

Education

  • Institute of Chartered Accountants in England and Wales
    ACA
    2003 - 2006
  • University of Warwick
    Bachelor of Science (BSc), Management Science
    2000 - 2003
  • Queen Elizabeth's Grammer School, Blackburn
    1993 - 2000

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