30-second interview: The company that takes firms on the verge of going bust and makes them successful
April 28, 2022 – Written by Group Reporter-inews
Andy Scott, “the UK’s turnaround king”, is the founder and chairman of REL Capital. i spoke to him to find out more
What’s your USP?
Many troubled businesses can have a bright future if you have the patience to turn them around. I’m really proud to have got a number of firms on to a high-growth trajectory, safeguarding hundreds of jobs.
What made you decide to start REL?
I was left £5,000 by my grandmother when I was 18 and used it to buy my first property for development. I went on to develop more than 500 properties and made my first million by my mid-twenties. Then the financial crash happened and
my property business went bust.
I lost a group of hotels and about £6m and got wiped out. I was having a rough time of it and things went from bad to worse when I was in a serious road accident. I was really low and depression set in, but it gave me the kick up the backside that I needed. So when I go and see a company, I have empathy; I’ve been there myself.
How does it work?
At the moment, we are partnered with 10 SMEs across the recruitment, hospitality, property and transport sectors. REL takes an 80 per cent stake in the company and management teams retain 20 per cent.
We have the capital to invest for growth – we recently helped REL Boarhunt, a transport company in Hampshire that was losing hundreds of thousands of pounds every year and was about to be shut down. It’s now back in profit and is looking at a really bright future.