Securing Fast-Track Growth In a 100-year-old Family Business

The Challenge: Managing Succession and Enabling Future Growth

Alasdair Smith was engaged by Wightman & Parrish, a £15m turnover, 100-year-old family-owned janitorial and healthcare distribution business, at a critical moment. The company was in the midst of transitioning management from the second to the third generation — a sensitive and high-stakes phase.

The family were unsure over the business’s future direction, given changing market dynamics and perceived gaps in the senior management teams skill sets. This raised questions about whether to invest for growth or to prepare the business for a potential sale.

Key challenges included:

• Navigating the second-to-third generation management transition.
• Family uncertainty about the future of the business.
• Skill gaps and lack of strategic leadership.
• Outdated IT systems and poor operational infrastructure.
• Poor sales performance and underperforming bolt-on acquisitions.
• Lack of detailed business planning beyond a high-level vision.

Alasdair was brought in as a part-time CFO/NED to professionalise operations, drive fast-track growth, and ensure a sustainable succession plan.

The Solution: Building a Foundation for Sustainable Growth

Alasdair’s strategic interventions were focused on modernising the business, professionalising operations, and preparing the next generation to lead with confidence:

• Built strategic partnerships: Established UK-wide distribution alliances, driving £1m in organic sales growth.
• Customer retention strategy: Designed operational solutions that secured £3m of at-risk annual sales.
• Expanded infrastructure: Established satellite depots to add capacity for £3m additional sales.
• Modernised IT systems: Selected and implemented a new ERP system (Capex £1m), securing future operational viability.
• Upgraded premises: Negotiated the acquisition of additional properties (Capex £1.5m) to support expansion.
• Process improvement: Re-engineered sales, purchasing, and warehouse processes, improving operational efficiency by 10% and increasing gross margins by 2%.
• Procurement optimisation: Negotiated with blue-chip suppliers to achieve £300k annual savings.
• Brand development: Launched own brand and private label products, delivering £500k in new annual sales.
• Cash and stock management: Improved working capital by £300k.
• M&A activities: Led a successful acquisition generating £1m in new sales revenue.
• Service diversification: Expanded engineering services, adding £200k in annual revenues.

The Outcome: A Modernised, Profitable, and Succession-Ready Business

Through his leadership, Alasdair delivered transformational change that set Wightman & Parrish on a path of fast-track, sustainable growth. His initiatives strengthened infrastructure, upgraded reporting systems, professionalised management, and secured the business's future in the hands of the next generation.

This case study shows how a strategic, hands-on Financial Director can drive transformation in a traditional, family-run SME. Alasdair’s work helped deliver the most sustained period of growth in Wightman & Parrish’s 100-year history — leaving a legacy that endures to this day.

If you are looking to professionalise and grow your business, or prepare it for a successful succession or sale, get in touch today to learn how a Fractional FD can help.