“We worked with Simon Mewett in our portfolio company Gradwell Communications, a provider of VoIP Telco and Cloud business services to small businesses. The business was growing and generating good profitability, but we felt that it needed some reinvigoration.
Simon, owner of TECHNEDs, became CEO of Gradwell in February. Simon got to grips with the business rapidly and importantly did plenty of listening to both the management team and the staff base. Within a few weeks he brought more alignment within the staff and had a noticeable impact on process improvements and sales through both his own direct input and bringing in colleagues he had worked with before. New CEO’s can have a tendency to act in a top down manner. Simon took the whole business with him in only a few months after arriving resulting in a more energized, efficient and focused company.
During Simon’s tenure, a purchaser came forwards for the business and whilst this had not been the original plan, he made a significant contribution by preparing the business and the staff for an exit, controlling information flow and ensuring that the transaction went smoothly and ultimately was completed. The exit resulted in a 2.7x cash return to Altitude’s first fund.”