Setting a trend in management buyouts: Bruce Rattray: financial and commercial director of the Trend Group
Article Abstract:
Trend Group, until recently a division of Phicom Group that specialized in data communications and equipment related thereto, has successfully completed its management buyout begun in March 1986. The new company will be led financially by Bruce Rattray, a former executive accountant with Phicom, who helped structure the buyout. Trend's management problems related to product diversification and market expansion are discussed, in addition to inventory pile-up problems resulting from the privatization of British Telecom and its subsequent reduced orders from Trend. Rattray also converses on the problematic transition period from Phicom division to separate entity, during which he and other individuals had to perform dual roles as Phicom executives and promoters of the buyout. Trend managers bought the firm from Phicom for 9.5 million pounds sterling.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1987
User Contributions:
Comment about this article or add new information about this topic:
Venturing towards the sharp end
Article Abstract:
Clive Sherling is a UK accountant who left a partnership position with Arthur Andersen to join the venture capital firm of Alan Patricof Associates. Sherling made the move for the sake of trying something new and to have a position that allowed him to act as an entrepreneur. Sherling feels that his experience as an insolvency specialist with Arthur Andersen has prepared him to work with small start up companies. Sherling believes that the Oct 1987 stock market crash will mean greater opportunities for the venture capital industry, and that accountants should play a more active role in the venture capital field, especially in the areas of recoveries and investment advising.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1988
User Contributions:
Comment about this article or add new information about this topic:
Preservation order for a proud tradition
Article Abstract:
Crystal manufacturer Waterford Glass Group PLC acquired china manufacturer Josiah Wedgwood in 1986. The china division has since become profitable while the crystal division has experienced a 73% drop in profits. Finance Dir Anthony Brophy is contemplating a layoff of 750 workers at the crystal division's 3,000 employee plant. This is part of a larger term rationalization plan designed to revitalize the crystal business. Brophy hopes that Wedgwood's presence in Japan and Waterford's presence in the US will produce reciprocal effects in Canada and Australia.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1987
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Life cycle and the adoption of consumer financial innovation: an empirical study of the adoption process. Financial innovation, balance sheet cosmetics and market response: the case of equity-for-debt exchanges in banking
- Abstracts: Unfavorable tax treatment of gain on sales not completed at decedent's death can be avoided. Premature disposition of property does not always mean recapture of investment credit
- Abstracts: Auditor attention to and judgments of aggressive financial reporting. Expertise and auditors' judgments of conjunctive events
- Abstracts: Strategic renewal and the interaction of cumulative stress and inertia. Using simulated mergers to evaluate corporate diversification strategies
- Abstracts: A multivariate analysis of responses to dissatisfaction. Male nudity in advertisements: a modified replication and extension of gender and product effects