Sharing knowledge and best practice between businesses to work more efficiently and effectively

By Daniel Beaumont, owner

Having embarked upon a business acquisition strategy just over two years ago I am delighted to now be owning and leading the future development of Paragon Toolmaking, Fairgrieve Compression Moulding and Ashlyne Fabrications.

These are three businesses with unique and specialist skillsets and markets which have each enjoyed their own success stories over many years of perfecting their work, establishing good working practices which have brought them to where they are today.

Having completing each of these manufacturing business buyouts – which have of course followed months of research and due diligence  – I have since spent a great deal of time with talented managers and workforces identifying where their expertise really shines through, and where the best opportunities may lie in the future.

We have of course made some immediate changes at all three businesses on the back of my investment, working hard to improve our branding and communications, and ensure all that we do truly reflects the industry-leading work each business does.

But the answers are not always to be found within your own business, and as I have found from my background having run and sold and our own family business, an outside view and opinion to perhaps challenge how things are being done and suggest alternatives is always worth considering.

Bringing three businesses together with a collective goal

It was with that in mind that I brought the leaders of my businesses together recently to quite simply talk business.

Held at Paragon Toolmaking in Hull, I met with its General Manager Kevin Batty, Barry Davidson, who is General Manager of Fairgrieve Compression Moulding in Tyne and Wear and their equivalent from Ashlyne Fabrications in Cheshire, Jim Kinghorn.

It was a hugely constructive meeting and one we all walked away from with plenty to think about.

For whilst we quickly identified clear differences between how the three business individually operate, there were also many synergies and opportunities to collectively support one another moving forward. We can all help one another to bring greater efficiencies to the way we all work.

From considering the advantages that can be gained from collective buying power – whether that be for essential products such as steel to the necessities of insurance – there are clear opportunities to help one another.

In modern times, many of the same challenges are being faced by all businesses, from the lasting impact of Brexit and Covid-19 on trading to the here and now issues such as rising energy and production costs and the impact we are all going to feel as a result of the war in Ukraine.

It was a meeting that gave the people running the businesses the opportunity to better understand how each works, to share some thoughts on problem solving and methods of improved working and cost saving.

I know all three manager headed back to their individual business with plenty of food for thought.

It was a highly productive get together and one we plan to repeat, as sharing decades of knowledge and learnings to collectively strengthen your arm can bring huge success in business.

Developing a collective strength between a group of businesses with leading UK manufacturing skills and products has been central to my approach over the past two years, and will continue to be so.

It is great to see that vision turning into a reality.

 

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