A global manufacturer of wind turbines and rotor blades had grown by c. 50% over a two year period and based on sales forecasts, a similar growth rate was expected for the upcoming two years. The organisation required PMC’s assistance to design, implement and manage (on an interim basis) a treasury function to support this growth.
- Perform an in-depth treasury review and produced a detailed action plan;
- Fill an interim role as Head of Treasury & Finance and managed day-to-day operations;
- Facilitate the establishment of bank and credit relationships in the US and China;
- Assist the client to manage its FX exposures and increase the size of its equity capital base by c. EUR 90m;
- Help to negotiate a syndicated EUR 500m credit facility and raise an additional EUR 125m from the capital markets.
Results & Recommendations
Over the course of the project, we guided the treasury department through its evolution from being a manager of bank guarantees and payments to a being a robust group treasury function capable of supporting the needs of a large and fast growing company.