Paul Meadows is a Senior Managing Director with Teneo in Birmingham, having joined Teneo as part of its purchase of Deloitte’s UK Restructuring business.
Having started in Restructuring in 1997, Paul has over 20 years’ experience advising the boards of stressed corporates and their stakeholders, performing business plan reviews, options analysis, contingency planning and managing complex insolvency situations.
Paul has also gained significant transactional experience, acting both buy-side and sell-side, typically where a sale is delivered under time and value constraints. Paul also spent 2 years working within a large food manufacturing group, leading its disposal strategy as part of its turnaround and deleverage process.
Selected Project Experience
Agri, Food & Consumer Products
- Background in farming with family still running arable / sheep farming and active in NFU roles.
- 2SFG: Leading the carve out disposals of 5 non-core businesses at a leading UK food manufacturer with combined Enterprise Value in excess of £500m.
- Bernard Matthews: Monitoring business performance and share sale process and leading and delivering the transition to an administration pre-pack sale which secured the business and employment, and achieved a significantly higher return to stakeholders.
- Various food producers: Including Review of £200m t/o food group and options advice to lenders over 10 phases across two separate periods of financial stress.
- Project Iris: Review of performance and exit options / process for EMEA operations of multinational electronics manufacturer / wholesaler.
- PaperlinX: Leading a complex trading insolvency of a £450m revenue, multi site paper wholesaler, including delivering share and business sales.
- High Street: Planning and managing trading administrations and sale processes for a number of retail businesses. Acting buyside and supporting post completion supply chain and other actions in the pre-pack purchase for Game and Dreams Beds. Contingency planning on shoe and fashion retailers.
- Direct Retail: Supporting “The Book People” (operating with an independent sales team and online platform) with its business plan and stakeholder support whilst monitoring a sale process to distressed investor which delivered an equity injection. Managed and delivered a successful sale for catalogue business which operated with direct selling sales team.
Travel Hospitality & Leisure
- Project Igloo: Restructuring support to Travel reliant financial services business.
- Project Vulcan: Contingency planning for a group including an airport, baggage handling and airline.
- Project Orville: Contingency planning for a baggage handling and aircraft component supplier.
- Various: Including multi and single site hotel businesses, and various sporting clubs. Business plan review and contingency planning for a healthcare chain and a coach hire business.
Manufacturing (Auto / Aero):
- Covpress Assembly: contingency planning and managed exit of Chinese owned tier 1 automotive supplier using insolvency mechanism and to wind down in administration over 15 months.
- Project Finch: Advising the lenders on the financial restructuring of a Tier 2 aerospace components manufacturer.
- Project Chelsea: Advising the lenders on viability and terms of additional support to a Tier 1 automotive components manufacturer.
- Asset Hire:
- Cartright Trailers: Managing wind down of trailer manufacture business and position of >20 funders.
- Newton Vehicle Rentals: Advising 10+ bilateral lenders on options and subsequently completely a £40m cash sale of leased vehicles / contracts (inc. compromise of >100 employees).
- Real Estate: Including advising a property developer on dealings with NAMA leading to a successful refinance at a discount, and advising the lender on options leading to the implementation of a solvent managed wind down of a house builder.
- Education and Training: Advising lenders and working with management towards the pre-packaged sales of government funded learning providers (requiring negotiation / consultation with the government body).
- Facility Management: Including advising a supermarket chain on supply risk and options and advising a corporate on its restructuring and insolvency options leading to a successful restructuring and ultimate sale.