Tag Archives: Linn Products

Nominees for Emerging Entrepreneur of the Year 2012

Posted on by
Reply

Tonight we’ll reveal the winner of the Emerging Entrepreneur of the Year 2012 – here are our outstanding finalists:

Alan Bonner – Pinnacle Technology Group plc, Gilad Tiefenbrun – Linn Products, Peter Bruce – Entier Ltd, Michael O’Hare – thebookingroom and Hermann Twickler – PressureFab Group.

Alan Bonner
Pinnacle Technology
Based: Stirlingshire
Started: 2002
Employees: 60+
Turnover: £6.3m

Alan Bonner displayed entrepreneurial instincts as a 17-year-old school leaver when he started a video library that soon became profitable.He moved into the telecommunications industry in 1996 following stints in insurance brokerage and in sales at the BUPA private healthcare operation.

Quick to recognise the opportunities created by deregulation, Mr Bonner developed a firm that sold telecommunications products on behalf of suppliers, which was bought by a rival based in Kent. Since acquiring the then loss-making Glen Group (now renamed Pinnacle Technology) in 2007, Mr Bonner has developed an entirely new service offering. The firm has won a range of big contracts covering events like the London 2012 Olympic Games and used acquisitions to increase its customer base.

The company has reported profits and aims to expand overseas.

Deloitte verdict: “Turning around the failing Glen Group and creating a platform for sustained growth is a major accomplishment, particularly when achieved with no external debt.

“While building his resource steadily, Alan is attuned to the growth potential of his business and has the proven tenacity to overcome challenges when they arise.”

Peter Bruce
Entier Services
Based: Aberdeen
Started: 2008
Employees: 473
Turnover: £25.5m

A trained chef, Peter Bruce spent 11 successful years at Compass Group before spotting an opportunity to start a new business specialising in catering for staff on offshore oil and gas rigs as well as onshore venues.

After quickly building a customer base that includes big North Sea operators such as Apache, Entier has almost tripled turnover since 2008. The company is on course to make its first profit in 2012 with further growth forecast in 2013.

Entier has invested heavily in research and development, developing packaging to ensure produce is as fresh as possible when it reaches offshore sites. The company has won business in overseas markets like Canada, Egypt and the Gulf of Mexico and started working with clients in other industries.

Deloitte verdict: “Despite Entier Services still being in its infancy its rapid growth over the past four years is nothing short of impressive and, with almost 500 employees, it can hardly be viewed as small.

“Peter’s commitment to a quality product and service, combined with a loyal team, makes Entier very well positioned for continued success and the possibility of becoming a real powerhouse in the offshore catering sector.”

Michael O’Hare
thebookingroom
Based: HQ in Glasgow with offices in Edinburgh, London, Paris, Hong Kong and New York
Started: 1999
Employees: 133 (excluding drivers sub-contracted for additional international work)
Turnover: £12.8m

A former golf professional at Glasgow’s Sherbrook Castle, Michael O’Hare moved into the transport business by providing cars for weddings at the venue. After buying a limousine, he expanded into offering transport services for corporate events and financial road shows through his Charlton Chauffeur Drive operation.

Mr O’Hare went on to develop thebookingroom as a business which harnesses the internet to offer a chauffeur-driven service specialising in niche markets like events and private aviation.

Based in Scotland, thebook-ingroom now has offices in London, Hong Kong, Paris and New York. Clients include giants like JPMorgan Chase, MTV and Deutsche Bank. The company has maintained a growth rate of around 20% and is now planning further expansion into new markets such as Brazil.

Deloitte verdict: “Michael clearly has a strong understanding of the practical steps required to develop his raw ideas for expansion into tangible business success.

“The continued development and refinement of thebookingroom’s bespoke logistics and customer management software indicate Michael’s awareness of the importance of innovation in staying ahead in the market and gaining a competitive edge.

“To have developed into a business with international scope is testament to Michael’s entrepreneurship and determination.”

Gilad Tiefenbrun
Linn Products
Based: Eaglesham, near Glasgow
Started: 1973
Employees: 174
Turnover: £17.257m

With a background that includes a degree in electrical engineering and five years working in areas like mobile phone operating systems at Symbian, Gilad Tiefenbrun joined his father’s business, Linn Products, with a highly sophisticated understanding of technology

He proceeded to lead a turnaround of Linn with an emphasis on research and development. This resulted in the company ceasing manufacturing CD players in 2009 and focusing on technology designed to capitalise on the rise of digital streaming of music. Appointed managing director in the same year, Mr Tiefenbrun increased the company’s focus on innovation with the creation of a 50-strong product development team.

The company recorded a 21% increase in net profit in 2012 and eliminated its outstanding debt.

Deloitte verdict: “Gilad is an impressive entrepreneur with a very inclusive leadership style. He has successfully steered Linn through a challenging time and has completely reinvigorated the business by adhering to his clear strategy.

“At the heart of this is a commitment to quality and investing in the future of the business, both in product development and the team of people he has working alongside him.

“Under Gilad’s leadership Linn has the potential to do something very exciting in the marketplace.”

Hermann Twickler
PressureFab Group
Based: Dundee
Started: 2009
Employees: 85
Turnover: £6m

A master engineer and shipbuilder by trade, Hermann Twickler honed his skills in the shipyards of Northern Germany and North America before becoming operations director of VT Group in Portsmouth.

After spurning offers of other big jobs, Mr Twickler decided to start his own offshore equipment manufacturing business. He invested his life savings, including the sale of his house and car, into creating PressureFab Group.

Started just three years ago, the group now counts some of the largest operators in the oil and gas sector among its customers and employs 85 staff. It has been profitable since inception.

Mr Twickler says he has no desire to grow the company for exit, but instead has set his sights on wealth creation and achieving long-term growth. The company has plans to expand into new facilities, scheduled to complete in 2013.

Deloitte verdict: “Hermann has built an excellent company serving some of the largest companies in the world and has successfully bucked the trend by exporting Scottish engineering and manufacturing to the Far East and the US.

“Hermann has created almost 90 new jobs in three years, doubled revenue each year and always made profit, and he’s achieved all this during the biggest recession since the 1930s.”

Thriving in Tough Times – Evening Exchange with Gilad Tiefenbrun, MD of Linn Products

Posted on by
Reply

Guest blog by Kev Ashcroft, Blinkered

Our Evening Exchange with Gilad Tiefenbrun commenced sonically with Glasgow’s own legendary jazz vocalist, Carol Kidd, played through Linn’s stunning Klimax DSM digital streamer and 350A loudspeakers.

Gilad’s approach was laidback and relaxed, no script was in sight and some intriguing images were displayed, which certainly added to his story.

Linn Products was founded by Gilad’s father, Ivor Tiefenbrun, on February 19th 1973 – I was exactly 1 year old that day. The company became very successful over the years, particularly through the creation of the Linn Sondek LP12 turntable.

However, in the early 2000′s, the business lost focus somewhat, having branched into consumer electronics like CD players and unfulfilling partnerships with Aston Martin to name but one. (The latter may sound good on the surface, but the reality was that dealing with the Ford Motor Company presented a whole range of unforeseen everyday challenges.)

Meanwhile, within the company some individuals favoured their own interests over the interests of the business as a whole. It appeared that Linn Products had quite possibly become a collection of mini empires.

As Ivor’s health started to decline, conversations began with his London-based son with a view to him coming to work in the business.

Depending on who tells the story, you get a different version of events.

Ivor’s account is that Gilad asked to come to work in the business several times, while Gilad insists that Ivor requested his presence repeatedly before he finally relented and began working in the product development side of the company.

As Linn Products moved further into the second half of the 2000′s, previously unheard of debt started to build in this once prudently-run company, even though the turnover had actually risen. In fact, the economic climate had completely changed and banks were putting increasing pressure on businesses like Linn. Action needed to be taken.

Stepping up to a leadership role, Gilad pushed for the company to remove itself from the low-cost, low-profit areas of operation especially CD players , and instead investigate products of the future, including the aforementioned Klimax DSM digital streamer range, which provides studio-quality listening pleasure from the home network rather than the spinning disc.

He worked to retain the people who had the best interests of the business at heart and on whom he knew he could rely.

The company went through a painful few years, but with the right leadership in place (Gilad became the MD in 2009), a new, transparent way of operating emerged. Now all staff can see how well the company is performing, there is a great team spirit and a highly supportive non-executive board. The company is once again going from strength to strength.

In summary, it was an entertaining and enlightening talk about how a strong, vibrant and high-quality business can suffer if it loses focus and has the wrong personnel on board, but also that ultimate failure can be avoided if people taken decisive action early enough and all share a common vision.

From a personal viewpoint there were many things I took from Gilad’s presentation; these would be my top three:

1. Always plan for succession, not only for that of your own role, but also for everyone else.
2. Don’t let your staff hide – make sure all main business performance metrics are displayed for all to see in an easy-to-understand manner (ask Gilad about his ‘whiteboard’ system).
3. Don’t let managers or supervisors ever prevent you from personally talking to any of your team or allow them to ‘have a little word’ with them beforehand.

As Gilad wrapped up the talk and prepared for questions from Exchange members, we were treated to the music of Katherine Bryan and the Royal Scottish National Orchestra, Liebermann Flute Concertos, recorded at the Glasgow Royal Concert Hall.

The night had been a thoroughly enjoyable, insightful and useful event and another timely example for all entrepreneurs that we aren’t alone in the dark times or the successful times. The Exchange provides a great peer group with whom you can share the good and the bad, and helps us all focus on our individual targets.

Thanks Gilad for such a thought-provoking and open presentation, which no doubt will be of great use to many who attended your evening.

Kev Ashcroft – Blinkered

Hall of Fame Inductees

Posted on by
Reply

Ivor Tiefenbrun, founder of Linn Products; James Milne, founder of the Balmoral Group and Gerald and Vera Weisfeld, founders of What Everyone Wants and the Weisfeld Foundation were officially inducted into The Entrepreneurial Exchange Hall of Fame.