MEET TIM BYRNE
Tim is fundamentally an expert in growth business. He has spent the last 35 years working in industries at a point of their emergence or disruption.
Having started his career in commerce at Granada TV, at that time ITV were losing their monopoly position on TV advertising and was looking to diversify into new markets. The building of the Granada Studios Tour business and the Studios Hotel was his first involvement with a start-up business. This, as has proven always to be the case, had a business plan produced though hope and random number generators! The importance of the road plan became obvious if only to highlight where the original thinking was wrong. The discipline of ‘The Plan‘ was embedded from that stage.
Tim went on to join Airtours plc later MyTravel plc as Group Financial Controller where he eventually became Group CEO. The company saw massive growth from £973m to £5.2bn turnover over nine years, in a period of consolidation and then disintermediation by on-line operators and low-cost airlines. During his tenure the Company became geographically diverse and vertically integrated, he also steered the Company through the travel industries darkest times post 9/11. While at MyTravel Tim was involved in everything from the rebranding of its assets though £billions of acquisitions, asset financing and fund raising.
Tim went on to set up the Management Alliance a business that advised on the direction, control and exploitation of high growth businesses. This advised on new and existing businesses ranging from SME’s to public company mergers.
In 2011 Tim was asked to join CN Creative. Newly recapitalised by Advent Life Sciences the business was looking to create the world’s first medically approved e-cigarette. It became clear very quickly that the work being undertaken had a predefined life span and that others with much larger resources would need to commercialise the approved product. The business was sold in December 2012 (17 months after the fund raising) to British American Tobacco (BAT) for £40m, a 19 times multiple for Advent. Tim remained with BAT for two years following the acquisition running their Northern UK Office as Finance Director and General Manager for Nicoventures Trading.
During this time Tim was working with the original owners of CN Creative to set up and finance a new venture Nerudia. The Company played on three strengths manufacturing in an MHRA licensed and GMP controlled environment, giving regulatory advice and an Innovation department creating new products and IPR in the nicotine and cannabinoids space. Under his control the business was sold to Imperial Brands plc for £106.5m in October 2017, this produced, in under three years, a return to shareholders of over 30 times their investment.
Since leaving Imperial Brands Tim has become Chairman in Ginger Recruitment a business with specialist Science and Engineering divisions that help businesses find the talent, they need to build robust teams to build value for their owners in emerging markets.
Tim also advises several companies in the medical and technology sectors.
Tim is a Fellow of the Institute of Chartered Accountants in England and Wales