Project Description

AJW specialists in the supply, exchange, repair and lease of aircraft spare parts. Service include the total repair process management, logistics, transport, engineering and aircraft project management services

AJW had recently been acquired by a PLC.  An inexperienced finance department had been put in by the new owners but had not gained the trust of the management and as a result communication was poor and the company was not prospering. The accounting system was weak and not fit for a complex business model.

The Solution

  • Ascent FD replaced existing the FD.
  • Re-specified a poorly implemented ERP system and managed specialist software programmers who delivered a bespoke solution.

Result

  • IT costs were reduced and business profitability improved.
  • The acquisition had been on an earn-out basis and so this gave rise to a £4.5M dispute surrounding the annual profit and a settlement was negotiated.
  • Previous owners eventually reacquired the business after obtaining bank funding to finance the business.