Capital Meets Turnaround shines a light on WA turnarounds
The WA chapter of the Turnaround Management Association held its annual Capital Meets Turnaround event at Perth’s Westin Hotel earlier this month.
The evening began with an informative and thoroughly entertaining panel session moderated by Mark Beyer of Business News and included Peter Harold, Managing Director of Panoramic Resources Limited, Leigh Junk, Non-Executive Director at Silver Lake Resources Limited and Jeffrey Largier, Investment Director at Allegro Funds.
Peter and Leigh shared some of their experiences having to deal with financial and operational distress in relation to their businesses. In recent times, there has been a noticeable increase in wages in the mining industry which is starting to place financial constraints on some businesses. They also spoke of the need to engage with key stakeholders early and to always be ready to think outside the box for lateral solutions to problems facing the business.
Jeffrey also shared his experiences in dealing with several Western Australian restructurings in recent years and provided valuable insights into how his firm seeks to work closely with incumbent stakeholders to maximise the likelihood that the relevant business is turned around in a timely manner.
More than 180 dinner guests heard from Laura Keily (founder of ‘Immediation’) on how her business, which received start-up/seed capital from Western Australian sources, was able to address a need in the market for affordable access to on-line mediation services and how the use of technology had made this business opportunity a reality.
Once again, the Capital Meets Turnaround event was an exceptional success and continues to demonstrate the strength of TMA membership’s voice in the turnaround industry.