Building a better business
Following TowerBrook’s investment in Odlo, an experienced Chair was appointed and significant management changes took place, including the appointment of a new CEO.
Opportunities were identified to reduce costs by shifting production, streamlining marketing costs, reducing general and administrative expenses, and improving financial and operational reporting systems, thereby allowing the Board better visibility ahead of key decisions. The business exited its non-core subsidiaries, and a complex tax restructuring was successfully completed.
A ‘one-brand’ strategy was implemented which enabled simplification of the product range and more focused marketing. Odlo focused on high retail sales growth, opening new stores in carefully selected retail locations that produced the highest returns. Strong cash flow generation, growing earnings and good relationships with its financing banks allowed Odlo to refinance its bank debt in 2008 despite a difficult market environment.