Friday, August 11, 2017

Here is a really interesting story about business success from Australia.

A minor stockholder took the company back and it is now worth $530 million.

August 11, 2017
By Cara Waters

He owned some panel shops but saw the consolidation within the crash repair industry and decided to get on the front foot.

"I approached a roll up group that was listed on the ASX and I rolled my company into it," he says. "These guys mismanaged my company very badly. I was in the middle of it, I had two choices, which were to pull out and go back to being a happy panel beater or to keep it together."...

..."I called an extraordinary general meeting, I sacked the chief executive and I removed the chairman," he says.

Malone replaced the board and removed $20 million in debt by converting some of it into equity. These steps gave him room to shake up the business....