I’ve been doing this work for a long time now, over three decades. And if there’s one thing I’ve learnt, it’s that no business is bulletproof. Even the best-run companies, with all the right numbers and people in place, can get hit hard when something completely out of their control comes along.
One of the stories that’s really stuck with me came out of the early days of COVID. A commercial solar company, one of the largest in the country, reached out. On paper, they were flying. $50 million in turnover, a team of over 100, and a pipeline of major projects. They’d built a strong reputation and had clients lining up.
But when COVID hit, everything changed overnight. Sites were shut. Payments stopped. And with a cost base full of fixed expenses, wages, leases, suppliers, the money was going out a lot faster than it was coming in. The major shareholder, who had supported them in the past, wasn’t prepared to inject more cash.
They weren’t failing because they made bad decisions. They were just caught in a perfect storm.
When they called, they weren’t asking us to wave a magic wand. They just needed someone who could see clearly, act quickly, and help them figure out their next move.
So we stepped in. Not with a silver bullet, but with sleeves rolled up. We used the voluntary administration process to give them breathing space, to press pause on the creditor pressure and give us time to really understand the full picture.
Our forensic team got to work. We reviewed the numbers, but more importantly, we looked at what was still working. The value in their contracts. The loyalty of their team. The potential in their brand. These things don’t show up in spreadsheets, you’ve got to be close enough to see them.
We worked shoulder to shoulder with their staff and leadership team. No one was sitting behind a desk barking instructions. We helped keep the business going while we looked for the right buyer. And we found one.
More than 40 parties expressed interest, which just confirmed what we already knew: this was a good business, caught in a bad situation. We eventually facilitated a sale to one of the biggest residential solar companies in the country, a deal backed by private equity, with the capacity to support long-term growth.
In the end, the outcome spoke for itself. Over 100 jobs were saved. More than $1 million in employee entitlements were protected. The founder stayed involved, but with the pressure taken off. Creditors were positioned to recover a return. And the business got a second chance, not just to survive, but to thrive again.
These are the outcomes I care about most. Not just the numbers, but the people behind them.
That case reminded me, again, that business owners carry so much weight. And they often carry it alone. But it doesn’t have to be that way. There’s no shame in asking for help early. In fact, it’s often the smartest move you can make.
If you’re running a business and something doesn’t feel quite right, even if you’re not in crisis, now is the best time to have a conversation. You might be surprised how many options you still have, as long as you don’t leave it too late.
If you ever want to talk things through, I’m here. Feel free to book a free call with me.
https://calendly.com/andrew-asadvisory
– Andrew Schwarz
Managing Director, AS Advisory