Andrew has extensive experience of debt restructuring, cash management and operational turnaround, specialising in Central and Eastern Europe. He lived and worked in Poland for 11 years until 2004, including five years as an interim Finance Director for several companies undergoing major change and the last four years as head of KPMG’s restructuring practice, which he was responsible for setting up and developing. Prior to this he worked for 10 years for PricewaterhouseCoopers in London, Leeds and Warsaw. Andrew is a Fellow of the Institute of Chartered Accountants in England & Wales. He is fluent in Polish.
He has advised a wide range of companies in various sectors, with projects including:
- Advising Poland’s leading retail group on a successful restructuring of USD 120m of syndicated debt by means of real estate backed bonds, the first transaction of its kind in the country
- Working for some 18 months with a US listed group on its investment in Poland, advising on exit strategy and turnaround and assisting with reclaiming USD 18m from the IRS, USD 13m of which in cash
- Advising a bank group with EUR 130m of debt to a number of unincorporated agricultural businesses
- Advising a privately owned group with manufacturing and real estate interests, the market leader in its sector: the manufacturing business was refinanced through property loans and sold to an investor
Advising a bank syndicate with project finance of USD 360m in the Polish power sector
- CRO for some six months in 2005 to a UK group: the restructuring included downsizing the main, declining, business and managing it for cash and spinning off real estate to enable a refinancing
Interim roles have included:
- Two years restructuring and developing a food processing business in South East Poland acquired as a bankrupt cooperative by a Dutch investor
- Two years for a US household name in the food and agriculture sector, assisting with the restructuring and eventual exit from its Polish investments