• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
 

Sponsored content

What does that mean?

This content has been produced in partnership with our paying sponsors.
  • GPs

Q&A: Rutland Partners’ David Wardrop

David Wardrop of Rutland Partners
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Rutland partner David Wardrop speaks to unquote” about how the GP’s experience in special-situations investing benefits its work on new investments

unquote": Are there set processes in working with portfolio companies that are applicable to all cases?

David Wardrop: Key to assessing any new investment is to understand the journey the business has been on and what it can potentially achieve. Only once the historic challenges and problems, as well as opportunities, have been properly identified and assessed, can the strategy and steps to drive growth in the business, or address historic underperformance, be established. Early creation of a 100-day plan is essential to the implementation of the strategy, capturing the key areas to be focused on and allocating key responsibilities. The plan is then continuously monitored and updated post-investment. Addressing change and tackling issues early on is often crucial to a successful investment, providing the foundations for the rest of the plan.

unquote": How do you approach managing investments and working with management teams?

DW: Based on our experience, the market understands our investment thesis and that turnaround and distress are not the same thing. We are a special situations investor driving operational improvement and change in businesses that are invariably profitable and cash generative but are not fulfilling their potential by reason of, for example, the wrong ownership, lack of focus or lack of access to capital. Given the type of investments we make, backing management teams is integral to the opportunity; our role is to help them to develop and grow the businesses they run.

unquote": Does Rutland employ any specific techniques to foster relationships between GP and management?

DW: Essential to establishing good relationships with the management team is developing and demonstrating an understanding of the business. This is a continuation of the work we have done pre-investment and continuity of the team from our side is essential to this – the team that executed the deal also manages the investment. We work hard at building relationships; active and ongoing engagement enables the discussion and decision-making process to be fluid and more informal. Monthly board meetings are, for example, less about what has happened and more about the key areas and future projects. We also ensure the team's incentivisation is aligned to ours and focused on those individuals who can drive change.

unquote": Do management teams understand the benefit of your more hands-on approach?

DW: Yes. We are always clear with management from the start that, while we will be actively involved, we will not interfere. We do not take executive roles; we want to give management teams the freedom to pursue the plan we have all backed. Our experience of investing across a range of sectors over a number of cycles can also assist management to address the challenges they face, which are often not unique and have parallels to other investments we have made.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • GPs
  • UK / Ireland
  • Top story
  • Rutland Partners
  • United Kingdom
  • Q&A

More from sponsor

Michael Reynolds of Rutland Partners
Rutland promotes three

Rutland promotes Michael Reynolds to investment director

  • People
  • 04 Jan 2016
Rutland’s Millbrook acquires Test World

Rutland acquired Millbrook in 2013 from General Motors

  • UK / Ireland
  • 18 Sep 2015
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013