A £200k turnaround to a high growth £18m market leader in just over 5yrs, with successful exit,
complimented with a National TCS&D Award Winner Accreditation.
LF&E are a privately owned specialist nationwide refrigerated transport company who are transforming temperature controlled logistics with a customer first approach.
With an on demand service including same day service specialising in the medical, pharmaceutical, healthcare and home care patient deliveries and critical cargo industries.
Read how we assisted the executive management team to undertake a business critical turnaround, with supporting growth strategy after they lost a major contract.
Resulting in driving revenues up from £200k to almost £18m in six years, establishing LF&E as a market leader with a national network of MHRA temperature controlled storage and distribution centres.
LF&E were unfortunate to lose a contract through no fault of their own that contributed to a significant amount of their turnover from a leading patient home care pharma company, as it restructured its operation and took in house many logistics services.
LF&E were faced with two choices, either close down the business or undertake a restructure turnaround with a new business growth strategy.
The situation looked bleak:
60 Staff Employed
70 Vehicles On Fleet
5 Depots Nationwide
Hemorrhaging Cash
Nominal Client Revenue Income
Weak Online Presence
Low Level New Business Marketing & Sales Strategy
For many, the obvious choice was to close the business, salvage what was left and take stock. However the executive management team were adamant that they would explore the options and decided on a turnaround, despite the major sacrifices that had to be made.
After meeting with the executive management team, LF&E recognised they had a tremendous set of assets and high quality service reputation, it just needed restructuring and then a growth, marketing and sales strategy to attract new clients in the lucrative pharmaceutical temperature controlled logistics sector.
The turnaround initially involved downscaling the staff, operations supply chain overhead and moving back into a small serviced single office to build a baseline for the growth strategy to begin.
The strategy started to take shape that included:
In any turnaround, initial decisions were hard, especially about downscaling the driver and office administration team. LF&E are a loyal organisation however it produced positive results in the medium to long term with many of the staff base returning to work again for LF&E when it started its recruitment drive.
The 2021 Growth Plan that started in 2016 provided a five year expansion and growth strategy to include:
New targeted client accounts in both pharma and critical cargo dry freight services
Improved service delivery and logistics packages through paragon routing increasing efficiency, service levels and profitability
Expansion of 5 regional depots including a Midlands based National distribution centre
Entrance to the MHRA Temperature Controlled Storage and warehousing marketplace increasing revenues beyond just logistics and providing a seamless service from collection, storage through to delivery.
Adoption of new Metafour operations and client booking system
A new growth driven design website development, Inbound Marketing, Sales, ABM and Client Services modules were employed to generate qualified Inbound leads, to support the outbound efforts of ABM through linkedIn and direct campaigns.
See how LF&E can assist with your MHRA temperature controlled logistics, storage and distribution services.
The TCS&D awards is the only event its kind in the UK, and is the grand stage where businesses are recognised for their achievements in temperature controlled storage and distribution. We are proud to have won the prestigious TCS&D 'Home Delivery Operator of The Year Award' in 2017.
'I highly recommend these guys, I can honestly say we would have not achieved our success if it wasn't for Mike and his team.
Their ability to understand the immediate priorities and deliver growth and scale up programs that get results is outstanding, helping us scale up to £12m in revenue in less than five years!'
