Finance Monthly CFO Awards 2018 Winners Edition

UNITED KINGDOM www.finance-monthly.com 34 Finance Monthly CFO Awards 2018 Formerly Group FD at Prospects Group Kevin Beerling About Kevin Beerling Kevin has some 20 years’ experience of operating at Board level across a diverse range of businesses and ownership structures including employee owned, private equity backed and publicly listed companies. He is a fellow of the ICAEW and holds a 1st Class Honours degree in Business Economics and Accounting from the University of Southampton. Kevin’s claim to fame is appearing five times as the independent adjudicator on the National Lottery live TV broadcast in the mid-nineties with an audience of over 15 million tuning in. Prior to joining Prospects, Kevin was CFO of Moneybox plc, a company which deployed, managed and maintained over 3,000 ATMs in the UK, Netherlands and Germany. Kevin was appointed to lead a complex de-merger process and separately list Moneybox on AIM which successfully raised £47m of new funding for the company and achieved an exit for private equity investors. Kevin joined Prospects as Group Finance Director in January 2006 and during his time with Prospects managed various corporate services including Finance, Legal, Risk Management, Facilities, Health & Safety, HR and ICT as well as acting as Company Secretary. In December 2014, Kevin also took on the additional role of Deputy Chief Executive. He has played an instrumental role in setting and implementing Prospects’ diversification strategy and his strong commercial acumen coupled with an attention to detail has enabled Prospects to more than double revenue and increase EBITDA fourfold during his tenure despite the challenges of unprecedented reductions in public sector funding over this period. Whilst employee ownership delivers acknowledged benefits of enhanced employee engagement and commitment, a practical downside is that most employees do not have the deep pockets to fund any capital requirements. Prospects has therefore been dependent upon its retained profits and external debt financing to support its growth ambitions, both through acquisition and to fund start-up costs and working capital requirements of new service delivery contracts. Kevin has successfully negotiated and managed complex M&A and corporate transactions including Prospects’ conversion to employee ownership, acquisitions such as Gabbitas, Optimus Education and Homes2Inspire, bank refinancing to secure committed debt facilities and most recently the recommended offer for the sale of Prospects to Shaw Trust. Kevin has also led the financial and commercial aspects of major public procurement tenders and supported complex TUPE transfers including those requiring a broadly comparable defined benefit pension scheme for employees transferring from the public sector. Indeed, dealing with the consequences of legacy defined benefit pension scheme deficits and managing risk in establishing defined benefit pension arrangements for new contracts has been a constant focus. Having spent some 12 thoroughly enjoyable years at Prospects working with passionate and committed colleagues and after supporting the initial transition period following the merger with Shaw Trust, Kevin has recently moved on from Prospects to pursue the next phase of his career. Kevin remains a non-executive director and chair of the Audit Committee of 3BM Limited, an employee owned mutual spun out of the public sector, and is actively exploring further NED opportunities. Firm Profile Prospects Group transforms lives and communities through its innovation and expertise in employment, skills, care and education, inspiring more than 500,000 people across the UK every year to develop their potential. Prospects delivers a wide range of publicly funded service contracts and operates commercial businesses such as Gabbitas and Optimus Education. In 2011 the group successfully converted to employee ownership with more than 1,000 employee shareholders, going on to be ranked by the EmployeeOwnership Association as the 13th largest employee owned company in the UK. 2017 was a truly transformational year for Prospects. In June Prospects secured a new and increased debt facility and acquired the residential children’s homes business, trading as Homes2Inspire, from G4S for £11.4m cash consideration. This was closely followed by Prospects merging with Shaw Trust in November 2017 to create one of the largest 25 charities in the UK. The enlarged group has a combined turnover approaching £250m, 3,500 staff and 1,000 volunteers and by joining together are working to reach one goal: to help transform the lives of one million young people and adults each year. Contact Details Kevin Beerling | Prospects Group Email: kbeerling@gmail.com www.prospects.co.uk Finance Monthly CFO Awards 2018