Michael O’Donnell

An experienced Finance Director with a strong record in delivering significant operational growth with constant emphasis on cash flows through team-based management style with astute commercial acumen and transferable skills set.

Michael as a finance director, has over 25 years experience in commerce and industry. He has worked in a variety of sectors including IT, FINTECH, publishing and property development. A business leader with a hands-on attitude and a strong attention to detail.

He has thrived in driving change as an experienced Chartered Accountant and finance director, as well as a key member of the management team and always adds value to the businesses that he engages with.

Michael qualified as a Chartered Accountant with RSM. He has experience of working alongside owners of SME’s, AIM listed companies and high net worth individuals. As a financial director his sectors include: publishing, property development, IT, FINTECH, telecoms, property investment and the extra care market.  

Over the course of his career, he has:

• New business set up– Established off shore structures, including Permanent Establishment and Transfer Pricing. Incorporated companies as start-ups for banking as well various taxes including VAT, PAYE,CT,CIS and company secretarial.
• Cash-flow – as part of an interim management role improved cash flow by enhancing customer collections and re-negotiation terms with suppliers. On property developers with new builds resorting to monthly VAT returns.
• Due-Diligence – (for acquirers and vendors) investigated target companies and advised clients on methods of valuation and introduced deferred consideration models based upon an-earn out formula. Data room techniques used.
• Business Continuity Reorganised systems and teams on a number of businesses in order to improve on business continuity plans.
• Business Turnaround – Assessing major loss making contracts, through review of overheads and an implementation of cost reductions based upon bench marking and review of third party professionals and banking terms and arrangements.
• Finance transformation – Design of finance and administrative functions to align with strategic vision, creation of road map, and effective implementation.
• Exit planning – Achievement of top and bottom line growth through business life cycle to optimise valuation for business sale.
• Buy/Sell Business –Successful sale of a group and planning and execution of a London & New York based publishing house for £19.2m.

MBO and Flotation

Background:

A London and New York SME sized publisher was seeking funds for a MBO. One of the founding shareholders was to be bought out by the co-founding shareholders through two Jersey based trusts. A corollary to the above was a subsequent reversal into an AIM listed shell company. The shape of the transaction was such that the vendors’ sale price was determined over a three year period. The proceeds were determined by an equal mixture of cash, guaranteed bank loan notes and equity in the listed company. Nine vendors of differing participation’s were involved in this process.

Challenge:

The quality of the existing accounting records were not up to the challenges of the background. The group suffered from poor cash flows allied with an inefficient corporate tax structure. The business included various loss making profit centres which management were unaware of. Additionally, existing management were unfamiliar with auditors, brokers, NOMADS and solicitors of such a sizable transaction. The Corporate Governance issues when a company reaches a certain size and being in the public domain also proved to be stimulating.