Phoenix Company Rescue

Case Study 4

Phoenix resurrection of a specialist IT business

A well respected technology company provided support and programming for an emerging technology platform, and had established a customer base in Banking and with specialised information suppliers.   The company was on-track to break even within a year, with a positive future in view.

As the recession bit harder, the supplier of the technology platform withdrew from the market, leaving the company without a product, and with an investment in a now redundant technology.   The company went into liquidation with little in the way of tangible assets and still considerable debts.

We re-examined the strengths and weaknesses of the business, including the experience of its technical staff.   We identified an overlooked capability that had supported their earlier work; management of complex IT networks, and recognised that this activity could become a viable stand alone business.   With an investment partner, it was possible to acquire the business and assets with key staff, and resurrect it as a phoenix business with the resources to grow.   It went on to supply networking services to some of the earlier customer base and an increasing number of new customers.

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