Technology Providers with Unique Components

K2's solution

We:

• repurposed a software developer that was going nowhere
• invested in sales & marketing

The outcome

The business has settled down and is growing by providing services to large clients.

K2's solution

We:

• initiated litigation to recover the disputed debt
• revised the business model to aim at fees and changed contracts to charging for time
• used a CVA to cram down and reschedule liabilities

The outcome

The restructuring was successful and the dispute between the parties was resolved albeit by litigation. As a result the company was able to trade through.

K2's solution

We:

• arranged a standstill agreement with creditors
• conducted a reorganisation to cut fixed costs
• identified exit options including sale and merger targets

The outcome

The standstill provided time for K2 find a buyer and sell the business and assets to repay creditors in full and distribute significant surplus to shareholders.

K2's solution

We backed the founder and:

• funded the acquisition of the production equipment out of insolvency
• supported the restart of a new business focused on the core video production business

The outcome

The business is successfully trading with strong growth in its core business, and as a result of the lessons learnt is about to roll out a newly developed training platform MVP (minimum viable product) which has been developed from scratch and funded entirely by boot-strapping from trading cash flow.

K2's solution

We were appointed as directors and took control of running the company and:

• bought out the hedge fund owners
• cut costs to a sustainable level
• brought in a new reseller to develop sales in US
• backed a new CEO and Head of Commercial
• helped refine the sales and marketing message via identifying the core offering
• targeted analysis of key sales verticals
• made sure that patent renewals were handled in the most efficient manner

The outcome

The business now has revenue through its US reseller. It has also partnered with a new reseller in a new market segment (education). The company has received funding from the UK Government's Fast Start Competition to address COVID-19 Challenges; its software solution will be integrated on a portal and within an App as part of a digital immunity passport.

K2's solution

As owners of Tricerion we realised that we needed to transition into the handheld device market.

• we began by licensing Tricerion's patents to IconLogin as a third party owned company
• we subsequently acquired IconLogin via an equity swap
• produced all the documentation for the acquisition and restructuring of the corporate entities
• we appointed the CEO of IconLogin as CEO of Tricerion
• we assisted develop IconLogin as a branded marketing app that uses iconic and brand images such as football teams in picture passwords for unlocking devices

The outcome

IconLogin achieved success in signing a number of high-profile licensors to its concept to use as a proof of the ease of use of Tricerion's authentication software.

K2's solution

We:

• negotiated an amicable separation of the inventor with his IP intact from an inappropriate and over-controlling investor
• set up a new company to buyout the IP
• developed a strategic plan for growth
• developed and managed the sales and marketing strategy
• recruited a managing director and sales director
• created a fully functioning and profitable IT engineering business

The outcome

The innovation based business is now a UK leader in a £1bn niche within the global market for servers dominated by Dell. The software invention was acquired by a new company setup by K2 with a robust business plan and K2 initially ran the marketing and administration functions before recruiting a new board of full time directors.