Engineering firm galvanised into new stage of development

A North East engineering company is continuing to grow as it enters its third stage of business development.

Blyth-based Tharsus has made the transition from being an owner managed business to becoming a professional business.

Part of this transition has been guided by the new Chairman at Tharsus, David Williams, who joined the company at the end of 2012.

Earlier that year, Chief Executive Officer, Brian Palmer identified the need for help as the business was starting to grow rapidly.

Brian said: “It’s just like growing up.

“We have gone from being an owner managed business, through being entrepreneur led to becoming a professional business.

“We aren’t a teenager any more!”

“We were aware that none of the management team had the experience of running medium and large business, but did not have the experience to make the transition from a medium to a large company.

“I knew that we would grow faster if we had the right people to help us.”

Brian turned to Lucy Armstrong, chief executive of The Alchemists for help to find help for his growing company, Lucy drew up a short-list of potential candidates for a non-executive Chairman, which included David Williams.

The Alchemists is a unique organisation which works with ambitious, fast growing entrepreneurial companies who have reached a critical point in their development..

David’s background as CEO of Serimax, a global specialist oil and gas welding service company, meant he understood the complexities and challenges of Tharsus’ business, he has also spent 17 years in private equity.

Six months on, Tharsus is continuing to work with The Alchemists to develop their expertise and skills, preparing for potential investments.

Brian said: “I did not want someone who was collecting another non-executive role to add to their portfolio, someone who was going to take an analytical, hands off approach.

“ What we wanted was someone who was willing to grapple the challenges ahead with us.“

“I needed someone whom I could respect, but also someone who had the ability to laugh and be frank with me.”

“We are building an organisation for the business to grow.

“David is very focused on structures and managing people so that they understand their responsibilities but are also encouraged to identify and go for opportunities.

“In the past I was only accountable to myself - and my wife. This has changed. We have separated my role as shareholder from my role as a manager in the business.

“ By depersonalising that relationship I have a clear responsibility to the board, while David as chairman is responsible to the shareholders

“We now have big ideas. We know what we are doing and why we are doing it.

“We are ideally positioned to grasp the next big opportunity.”

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