Corporate Development Manager | Glasgow

Recruiter: Rutherford Cross

Employer: Weir Group PLC

Location: Glasgow

Contract type: Permanent

Salary: Highly attractive plus 30% bonus and up to 12% employer pension contributions

Interested in this role?

About the organisation

The Weir Group PLC (Weir) is a FTSE 250 global engineering business headquartered in Glasgow. The business celebrated its 150th year in 2021 and the company’s global footprint spans more than 60 countries and employs more than 11,000 people. Founded in 1871, Weir engineers solutions that improve safety, efficiency, and sustainability – helping to provide the essential resources needed by a growing world. Significant growth and portfolio changes, culminating in the sale of the Oil & Gas division in 2021, has enabled the Group’s transformation into a focused premium mining technology business through its Weir Minerals and Weir ESCO divisions. Weir has developed clear strategic initiatives centred around safety, employee satisfaction, inclusion and diversity, and sustainability as well as operational growth.

Weir has reported continually strong revenue and profit growth in recent years. In 2020 the Group reported revenue of £2bn and profit before tax of £255m. These are highly impressive results, especially during an extended period of general economic uncertainty, with Weir well placed to benefit as markets recover. Weir represents a true global success story headquartered in Scotland.

The Glasgow city centre headquarters comprises some 110 professionals including the Board of Directors and key Group functions – Finance, Tax, Treasury, Internal Audit, Corporate Development, IT, HR, Company Secretarial, Legal, Investor Relations and Sustainability.

A vacancy has arisen for the role of Corporate Development Manager within the Corporate Development Team. This position presents an excellent opportunity for a first class, corporate finance professional to join the Head Office of an impressive multinational and develop their career within Weir during an exciting time for the business.

Background to the opportunity

The Weir Group PLC (Weir) is a FTSE 250 global engineering business headquartered in Glasgow. The business celebrated its 150th year in 2021 and the company’s global footprint spans more than 60 countries and employs more than 11,000 people. Founded in 1871, Weir engineers solutions that improve safety, efficiency, and sustainability – helping to provide the essential resources needed by a growing world. Significant growth and portfolio changes, culminating in the sale of the Oil & Gas division in 2021, has enabled the Group’s transformation into a focused premium mining technology business through its Weir Minerals and Weir ESCO divisions. Weir has developed clear strategic initiatives centred around safety, employee satisfaction, inclusion and diversity, and sustainability as well as operational growth.

Weir has reported continually strong revenue and profit growth in recent years. In 2020 the Group reported revenue of £2bn and profit before tax of £255m. These are highly impressive results, especially during an extended period of general economic uncertainty, with Weir well placed to benefit as markets recover. Weir represents a true global success story headquartered in Scotland.

The Glasgow city centre headquarters comprises some 110 professionals including the Board of Directors and key Group functions – Finance, Tax, Treasury, Internal Audit, Corporate Development, IT, HR, Company Secretarial, Legal, Investor Relations and Sustainability.

A vacancy has arisen for the role of Corporate Development Manager within the Corporate Development Team. This position presents an excellent opportunity for a first class, corporate finance professional to join the Head Office of an impressive multinational and develop their career within Weir during an exciting time for the business.

The opportunity to join Craig Corporate as an Assistant Director, provides exposure that is rarely available with other firms in the market. Craig Corporate supports businesses going through periods of change such as restructuring, high growth, change of ownership and management, sales and acquisitions. As a qualified accountant you will partner with a variety of clients, on either a retained, ongoing basis as a regular advisor or in a seconded/project capacity. The post holder will provide high quality commercial business advice which will have a positive impact on clients’ profitability, cash flow or business value

Typical duties will include:

• Devise and ensure implementation of business strategies and operating plans
• Analyse client problems and identify feasible alternative courses of action
• Prepare well documented and presented reports and presentations to clients setting out the results of analysis and recommending effective action for the clients
• Persuade clients confidently and forcefully about the need for action
• Prepare plans (with financial outcomes) with clients
• Coach client staff in skills and procedures needed to achieve agreed plans
• Carry out assignments within the agreed time input limits and agreed schedules
• Ensure the quality and confidentiality of client relationships are maintained
• Ensure adequate systems are in place to monitor business performance
• Promote Craig Corporate Limited’s capabilities to existing and potential clients and other business contacts (e.g. other professional advisors)
• Participate in the local (Glasgow / Scottish) business community

Examples of recent assignments undertaken by the firm include:

• Part Time FD – Drinks
• Part Time CFO – BioTech
• Part Time FD – Software
• Fund-raising advice - £20m
• Fund-raising advice - £5m
• MBO / Transition Support – Electrical Contracting
• Ongoing Strategic Advice – Transport
• Ongoing Strategic & Shareholder Advice – Manufacturing
• Ongoing Strategic & Shareholder Advice – Property
• Board Advisory & Shareholder Advice – Professional Services
• Project Support (Currently Shareholder Exit, Acquisition & Future MBO) – Professional Services
• Business Sale – Financial
• Business Sale - Contracting
• Investor Due Diligence – Software
• Investor Due Diligence – Online Retail
• Investor Due Diligence – Computer Generated Graphics
• Financial Modelling – Infrastructure
• Financial Readiness / Scoping for Fundraising / Business Planning – Alternative Energy
• Shareholder Value Review and Implementation – Software
• Cash Flow Planning & Reporting – Industrial
• Bank Covenant Review & Forecast – Professional Services

About the role

The purpose of the role is to manage M&A projects from end-to-end and provide key input into supporting the development of M&A strategy and originating transactions. This is a project-based role, working in a small team and liaising with internal and external stakeholders.

Key responsibilities and accountabilities are set out below.  This is not a complete list but rather a summary of the key objectives of this role:

• M&A project management
• Acquisition, divestment and joint venture implementation
• Review and analysis of acquisition targets / investment opportunities
• Preparation of investment proposals
• Financial modelling
• Business / investment valuations
• Input into due diligence scoping and review
• Input into transaction structuring
• Relationship building with external advisors and internal stakeholders
• Preparation of Board and Group Executive reports and submissions
• Involvement in annual strategic planning exercise
• Monitoring and review of peer company performance
• Working alone and as part of a team, dealing with senior managers, external advisors, and managing wider deal teams (cross-geographical / cross-divisional)
• Integration planning
• Post-acquisition reviews

About the individual

The role of Corporate Development Manager requires an individual who has an established track record of success in their field. The successful candidate will be willing to immerse themselves in understanding the current portfolio to give them the ability to research markets and identify potential acquisition targets.

Certainly, it is essential that candidates display all the required personal characteristics, especially in demonstrating confidence, self-motivation, and an ability to communicate with stakeholders at all levels across the business.

A summary of the key candidate requirements are as follows:

Education and/or Experience

• Good First Degree
• Second Degree / Professional Qualification preferred
• Relevant post qualification work experience, preferably performing a similar role within a large corporate organisation or an advisory firm

Skills

• Knowledge & experience of global energy & resource markets preferred (not essential)
• Ability to conduct commercially focused review of business performance
• Experience of business plan preparation and analysis
• Experience of managing M&A processes, from end to end
• Experience of commercial negotiations
• Accounting understanding, with ability to interpret company financial statements
• Experience of financial modelling, with high proficiency in Excel
• Ability to conduct company and market research analysis and studies
• Experience in writing and delivering presentations / reports for Senior Executive level
• Highly numerate with strong analytical skills
• Ability to work efficiently and to tight deadlines
• International outlook

Work Environment

• Role will be based at Weir Group Headquarters in Glasgow, with some remote working
• Travel across our global regions may be required for live M&A activity, sometimes at short notice, and ad hoc development meetings
• Projects will often involve working with stakeholders in different geographies; flexibility around working times / practices may be required

Remuneration

In addition to a very attractive basic salary (details available on application) there is a pension scheme with employer contributions up to 12%, attractive bonus potential up to 30% of salary and 35 days holiday inclusive of public holiday.

What to do next

To find out more or see a full Position Profile, please contact their retained advisor, Mark Lewis at Rutherford Cross.

Please note that any direct or third-party approaches will be sent to Rutherford Cross for review and assessment.

Rutherford Cross is an equal opportunities advocate and positively encourages applications from suitably qualified and eligible candidates regardless of sex, race, disability, age, sexual orientation, gender reassignment, religion or belief, marital status or pregnancy and maternity.