Aaronite

Steve Parkinson - Partner


Steven Parkinson

Steve Parkinson is a Executive Director with corporate experience a senior levels in the UK and overseas, where he faced many challenging business situations. He and now has over 12 years of restructuring experience and specialises in financial and operational restructurings with particular focus on the Middle East.

Steve has served as Non Executive Director of Mohammed Al Mojil Group, a listed Saudi oil engineering contractor whose shares were suspended pending resolution with it Lenders of over SAR2bn debt on which it was in default. After a long spell working as part of the Aaronite CRO team with Mike Grant, assisting a major UAE construction company in negotiations with it Lenders to restructure significant debt, Steve recently returned to assist the client's Finance team navigate its way through a major transition aimed at dramatically improving the performance of the function to meet the heightened demands on it arising from the financial restructuring.

Since 2006 Steve has been operating as a restructuring specialist, working on assignments with Alfred McAlpine Business Services, Bison Ltd, Project First Group and Interserve plc.

After an early career in the upstream oil industry with Shell in Europe, the Far East and Middle East he returned to the UK with Honeywell.

His first major turnaround experience was with Dalkia where he oversaw the integration of a number of UK subsidiaries with significant legacy issues including loss making operations and significant receivables and claims. He later led the turnaround of Citex, a private equity backed international Facilities and Project Management business with activities in UK, Europe and the Far East, ultimately leading to disposal of the profitable FM arm. At Mowlem he inherited two seriously underperforming businesses in the support services sector. Major restructuring and rationalisation turned serious losses into break-even performance ahead of the acquisition of Mowlem by Carillion.

Steve has a Masters Degree in Engineering Science from Oxford University and a Masters in Business Administration from London Business School. He is a Chartered Engineer and a Member of the Institution of Mechanical Engineers.

 

It is essential to work out which levers to pull to change the business; then act quickly to stem the losses and restore stability and confidence.

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