Following a period of sustained growth, Smart Solutions, one of Wales’ leading outsourced services specialists, has established an executive board to assist the company’s development and direction, and to increase levels of corporate governance.
Newport-headquartered Smart Solutions has appointed seven members to its executive board including leading investment banker, Joel Hope-Bell, as chairman.
Mr Hope-Bell, a managing director at global finance advisory and investment banking firm, Duff and Phelps, brings a wealth of experience in corporate finance to Smart Solutions. He previously worked as a managing director at the Bank of America Merrill Lynch, and earlier at Morgan Stanley and UBS. Most recently, he was managing director and head of the European Business Services team at corporate advisory firm, DC Advisory.
Mr Hope-Bell will join current employees of Smart Solutions and members of the UK business community to provide control and guidance over the company’s future.
Nathan Bowles, chief executive and founder of Smart Solutions, will work with existing Smart colleague, Gary Ridewood, finance director, on the board.
Also joining the executive board is Jonathan Jones, one of the four individuals who developed the £280million Circuit of Wales project. Mr Jones is an experienced manufacturing plant manager and supply chain procurement specialist, having worked for global brands such as Hewlett Packard and Kautex Textron.
Mr Jones will join Jack Price, an SME specialist adviser for more than 20 years and a founder member of Castle Court Wealth Management, and Paul Ragan, a successful entrepreneur, who sold his multi-million turnover insurance broker business, Motorquote Insurance, and amongst other business interests is owner and chairman of the Cardiff Devils ice hockey team.
The seventh member of the newly-appointed board is Chris Raybould, founder of Centric Global, who helps to grow organisations to achieve domestic and international expansion. Previously, Mr Raybould worked as director for Manpower, where he was responsible for the growth of a multi-million pound business in the UK developing recruitment and retention strategies.
Nathan Bowles, chief executive of Smart, said: “In order to sustain and build on Smart’s fantastic growth over the last six years, I need a trusted and robust board to help drive the company forward.
“This is a significant milestone in Smart Solutions’ development, and the team of consultants we now have advising the company will help to map out and deliver our future. The board brings together a pool of extensive expertise in Wales, the UK and internationally.
“Since establishing the executive board two months ago we have already created a strategic growth plan to double our size and revenue over the next five years.
“I’m confident that the appointments will not only ensure that this plan is delivered but that Smart Solutions is run efficiently and with full compliance, yet continues to be entrepreneurial and reactive to our clients changing needs. The appointment of the board will help us penetrate new areas and emerging markets.”
Smart Solutions has enjoyed a period of strong growth since it was established in 2007. In the 2012-2013 financial year, Smart Solutions increased its turnover by more than 50 per cent from £20 million to £42 million, and it is aiming to increase its turnover by up to 80 per cent by its tenth anniversary in 2018.
Nathan Bowles continued: “We’ve enjoyed a very rewarding few years at Smart Solutions. In the 2008-2009 financial year we recorded a turnover of £250,000, and in the space of five years we’ve increased this to £42 million and have forecast turnover to reach more than £50 million this year.
“The team at Smart Solutions has worked tirelessly during our first six years in business to establish ourselves as a quality brand in Wales and the UK. We are now working on expanding our managed services offering to clients, providing a more comprehensive range of outsourced business services from recruitment, personal development and training to waste management and commodities trading.
“With the addition of the executive board, we’re expecting to grow our employees to in excess of 150 by the end of 2014, and plan to continue our dominance of the waste and recycling managed services sector, while simultaneously further expanding our presence in manufacturing, construction, food and drink and automotive sectors.”
Smart Solutions was established in 2007 and has become one of Wales’ most successful emerging brands, receiving a Welsh “FAST GROWTH 50” award four times, the only business in Wales to do so.