Growth · Transformation · Exit
Dialogue Group
- Enterprise value£2m ▸ £32m
- Revenue£13m ▸ £60m
- EBITDA£0.3m ▸ £6m
CFO then Global CEO. Repositioned, scaled and ultimately sold the international communications business.
Value Creation · Scaling · Profit Transformation
Leadership to transform profitability & performance
Perry Offer is a CEO, CFO, and transformation operator who has spent four decades inside undervalued PLC & privately owned businesses at moments when profitability had to change.
He manages and aligns commercial, operational, and financial performance whether from a CEO or CFO seat
CEO
CFO
Chief Transformation Officer
Interim or Fractional positions
Specialisms
TMT / SaaS
Fintech/Defi
Manufacturing/Industrial
FMCG/Food
Evidence
Different situations. The same operating discipline. The same result.
Scale · Profitability · Operating leverage
SMS Highway / Revenet
- Revenue£10m ▸ £28m
- ProfitBreakeven ▸ £3.8m
- Procurement£500k a year
Salesforce and Certinia implemented across commercial, operations and finance. Vendor base simplified. Helped shape and launch the Revenet operator monetisation proposition.
Turnaround · Simplification · Operating model
Hartstone Group
- Profit£2.5m loss ▸ £1m profit
- Headcount550 ▸ 300
- Product rangeReduced 90%
Restored profitability in a collapsing market by closing three brands, reducing the product range by 90%, resetting headcount from 550 to 300 and introducing make to order.
Restructuring · Liquidity · Continuity
Storj Labs Inc.
- Team40 ▸ 20
- Vendor deferralsc. $3m
- Forecast24 months
Interim CFO, March to July 2026. 24-month financial visibility during restructuring, team reset from about 40 to 20, about $3m of vendor payment deferrals, executive control of the C-suite after the original CEO’s removal.
Situations
When to engage Perry
The title varies. The situations repeat.01
The company is missing the plan
Revenue may be growing but Profitability is not. Commercial priorities and operations are disconnected. Management information explains what happened rather than controlling what happens next.
Relevant mandates
Interim CEO
CTrO
02
The business needs stabilising
Liquidity pressure, leadership disruption, a cost base that is too high, accumulated complexity, creditor and lender confidence to restore, underperformance that has become structural.
Relevant mandates
CEO
CFO
Interim CFO
03
The investment thesis is not being delivered
The strategy may be right. Execution is not moving quickly or consistently enough. Priorities need converting into hard numbers, accountabilities, operating rhythms, decisions and management discipline.
Relevant mandates
CEO
CFO
CTrO
04
The business is approaching a transaction
Reporting, operating cadence, margins, management accountability, working capital control, the commercial narrative and due diligence readiness all need to be stronger.
Relevant mandates
CEO
CFO
Exit readiness
05
A founder led company needs its next operating model
What worked at £10m may not work at £30m. Professionalisation needs to happen without destroying entrepreneurial speed or customer intimacy.
Relevant mandates
CEO
Executive Chair
MBI / Acquisition CEO
Operating system
How Perry creates value
Financial underperformance is a symptom. The operating cause sits further upstream.
01
Customer value
What does the customer genuinely value and pay for?
02
Operating requirements
What must sales, product, operations and finance deliver, numerically?
03
Management system
Who owns what, what gets measured, and how quickly is underperformance identified?
04
Financial performance
Revenue, margin, working capital, cash, EBITDA.
05
Enterprise value
Growth, resilience, optionality, exit.
Business profitability and valuation falls when what customers care about most, what the commercial team promises, and what operations delivers moves out of alignment
Situations operated in
Scaling
Profitability
Turnaround
Ownership transition
Exit
Flagship cases
Walk a mandate, stage by stage.
Choose a mandate
Then open any stage
Dialogue Group
The business carried A2P SMS traffic for mobile operators and for Google, Facebook, Apple and Twitter, and was squeezed between both sides.
- Operators losing revenue to fraudulent A2P traffic
- Global brands relying on that same traffic
- Finance run regionally, reporting slowly
£2m ▸ £32mEnterprise value
£13m ▸ £60mRevenue
£0.3m ▸ £6mEBITDA
Dialogue Group
The market would pay a premium for legitimacy, and no competitor could hold the position of the only fully legitimate carrier.
- Legitimacy was a saleable product, not a compliance cost
- Operators would pay to recover their lost revenue
- The brands would follow once the routes closed
£2m ▸ £32mEnterprise value
£13m ▸ £60mRevenue
£0.3m ▸ £6mEBITDA
Dialogue Group
Blocking software built and sold to the operators, all fraudulent traffic refused, every supplying route closed, and finance restructured globally.
- Software sold to operators recovering tens of millions of dollars
- Fraudulent connectivity closed down entirely
- Finance moved to a cloud stack, processes onto force.com
£2m ▸ £32mEnterprise value
£13m ▸ £60mRevenue
£0.3m ▸ £6mEBITDA
Dialogue Group
Sunday Times International Track 200 in 2016, then a trade sale to a competitor in early 2017.
- Enterprise value £2m to £32m
- Revenue £13m to a £60m run rate
- Finance headcount down 50%, debtor days 55 to 35
£2m ▸ £32mEnterprise value
£13m ▸ £60mRevenue
£0.3m ▸ £6mEBITDA
SMS Highway / Revenet
A growing messaging business whose commercial, operational and finance systems were not built to turn revenue growth into profit.
- Revenue rising, margin not following
- Vendor base fragmented and expensive
- Commercial and finance data disconnected
£10m ▸ £28mRevenue
Breakeven ▸ £3.8mProfit
£500k a yearProcurement
SMS Highway / Revenet
Growth without a common operating platform adds cost as fast as it adds revenue.
- Operating leverage had to be designed in, not hoped for
- Procurement was a margin lever, not an admin task
- A monetisation product could open a new revenue line
£10m ▸ £28mRevenue
Breakeven ▸ £3.8mProfit
£500k a yearProcurement
SMS Highway / Revenet
One platform across the whole business, a simplified vendor base, and a new operator monetisation proposition.
- Salesforce and Certinia implemented end to end
- Vendor base simplified, £500k a year removed
- Revenet operator monetisation proposition shaped and launched
£10m ▸ £28mRevenue
Breakeven ▸ £3.8mProfit
£500k a yearProcurement
SMS Highway / Revenet
Revenue almost tripled while the business moved from breakeven to £3.8m of profit.
- Revenue £10m to £28m
- Breakeven to £3.8m of profit
£10m ▸ £28mRevenue
Breakeven ▸ £3.8mProfit
£500k a yearProcurement
Hartstone Group
A £16m hosiery business losing £2.5m, with too much complexity, too much cost and an operating model no longer aligned to the market.
- Profitability under heavy pressure
- Product and brand complexity out of control
- Cost base built for a bigger, stronger business
£16mRevenue
£2.5m lossProfit position
550Headcount
Hartstone Group
The problem was not just trading pressure. The business had become too complicated to perform: too many brands, too many products, and an operating model that no longer matched customer demand.
- Complexity was destroying profitability
- Product range was diluting focus and margin
- Cost structure was out of line with the commercial reality
3Brands in the portfolio
90%Product range later removed
550 ▸ 300Headcount reset identified
Hartstone Group
Perry simplified the business decisively: closing three brands, reducing the product range by 90%, resetting headcount from 550 to 300, and introducing a make to order model.
- Closed 3 brands
- Reduced product range by 90%
- Reset headcount from 550 to 300
- Introduced make to order
3Brands closed
90%Range reduction
550 ▸ 300Headcount
Hartstone Group
The business moved from a £2.5m loss to a £1m profit, with a much simpler operating model and a cost base better aligned to market demand.
- Profitability restored
- Simpler, more focused business
- Operating model brought back into line with customer and market reality
£2.5m loss ▸ £1mProfit
90%Range reduction
550 ▸ 300Headcount
Private capital
Inside the business, where the plan has to be delivered.
Working with Private Capital Providers
Perry is intimately familiar with the exacting requirements of Private Equity ownership, in terms of reporting requirements, time pressures, and stakeholder satisfaction
Investor facing
Portfolio Foods
Sussman
Berketex
SFD
Storj
Interim Group FC of a PE backed (Citicorp) food business with covenant cover reporting, Production and Operations Director of a PE backed MBI (Close Brothers), Interim CFO of a PE backed (Elaghmore) retail supplies business, Interim CFO at PE backed (G42) Fintech business, Interim CEO of a PE/MBI backed (Cinven) Bridalwear Retail business
Lender and special measures
Barclays
NatWest
Board appointments into businesses in special measures through specialist bank processes during the Mercia years, 2006 to 2010.
Governance
Monthly and quarterly board cadence
A1 Housing Bassetlaw
Formal board reporting rhythm across every major executive role, plus a public sector company board seat from 2005 to 2007.
Transactions and 100 day plans
Dialogue sell side
Hartstone
Advisor selection, buyer presentations and operating leadership through the Dialogue sale, with the Hartstone recovery plan built and executed against a fixed early window.
Portfolio interventions
Select a year
The same disciplines, applied to multiple sectors
Hartstone Group
£1mprofit, from £2.5m of losses
SituationLosses of £2.5m on £16m of revenue in a collapsing market.
InterventionThree brands closed, product count down 90%, headcount 550 to 300, make to order introduced.
PatternCash first, then the operating model.
Shamsi Trading Group
3divisions created
SituationOne vertically integrated retail business, consistently overbuying stock.
InterventionSplit into three divisions by segment, franchises ceased, buying and stock control redesigned.
PatternOperating model, then the management system.
Presto Tools
£10mrevenues brought under control
SituationA long established supplier acquired out of administration with no finance function.
InterventionControls and reporting built, multi currency invoice discounting agreed, stock reconciliation established.
PatternControl and reporting from nothing.
Mercury Packaging
£40kmargin a month
SituationA highly leveraged business planning labour badly against demand.
InterventionPlanning systems redesigned, specialist consultants selected for colour printing.
PatternOperating model.
Gresham Timber
£100ksupport facility negotiated
SituationThe business was heading into administration.
InterventionSheffield freehold closed and sold, processing outsourced, run down managed to the last liability.
PatternCash first.
Access Group
£600kadditional cash flow
SituationCash trapped in a slow billing cycle with facilities under pressure.
InterventionBilling cycle 14 days to 3, debtor days 85 to 65, £350k of new facilities agreed with the bank.
PatternCash first, then reporting.
Airfield Lighting and Signs
0.33%customer returns, from 25%
SituationQuality failures and excess work in progress in a newly opened facility.
InterventionRight first time cells introduced, supply base rationalised, floor reorganised for visual management.
PatternOperating model, then accountability.
Storj Labs Inc.
$3mof vendor payments deferred
SituationAn investor-owned technology business needing restructuring and leadership continuity.
Intervention24-month forecast built, team reset from 40 to 20, vendor payments deferred, executive control held after the CEO’s removal.
PatternCash first, then the organisation.
Mandates
Current mandate interests
Choose a categoryTaking the executive seat when the plan is being missed and the gap between commercial priorities and operations has to be closed quickly.
- Interim CEO
- Transformation CEO
- Chief Transformation Officer
Stabilising liquidity, resetting the cost base and rebuilding creditor, lender and investor confidence around a forecast that holds.
- Chief Restructuring Officer
- Interim CEO
- Transformation CFO
Professionalising a founder led or newly acquired business without losing the speed and customer intimacy that built it.
- CEO
- Executive Chair
- MBI / acquisition operating partner
Getting reporting, margins, working capital and the commercial narrative to the standard a buyer and their advisors will test.
- CEO
- CFO
- Exit readiness
London based, working internationally
Perry at a glance
The diligence answers, in one place.
Trained in audit at Goodman Jones, then finance director and executive roles continuously across decades.
Interim CFO at Storj Labs Inc, Group CFO & Deputy CEO @ SMS Highway/Revenet, Global CEO and Global CFO at Dialogue, Interim CEO at Berketex Bride, Executive Chair & CEO at Charnos Knitwear, MD @ Hartstone Hosiery, Interim Group FC at Portfolio Foods. Production & Ops Director LS & J Sussman
Chartered Management Accountant, following articles at a nine partner West End firm.
UK, UAE Romania Serbia Germany Kenya Hong Kong at SMS Highway/Revenet, London Singapore Australia at Dialogue, US at Storj Labs Inc Inveniam, Egypt at Shamsi, Europe at Hartstone
A1 Housing Bassetlaw board member 2005 to 2007, and bank nominated special measures board roles through Mercia, 2006 to 2010.
Interim Group FC of PE backed Portfolio Foods, sell side leadership at Dialogue.
Most mandates between £5m and £40m of revenue, where one operator can change the outcome.
Selective, UK and international, with a preference for situations where performance has to change inside a defined window.
Track record
Career highlights across the years.
Select an era to see the detail
Recent operating mandates
Executive and restructuring assignments undertaken through Time To Simplify, the vehicle Perry uses for selected operating work rather than an advisory practice.
- Storj Labs Inc : Revenue $5m - Fintech
- Interim CFO March to July 2026. 100 day & 24-month restructuring plans. FTE reduction from 40 to 20. $3m of vendor payment deferrals.
- SMS Highway/Revenet: Revenue £28m - TMT/A2P SMS
- Group CFO & Deputy CEO 2018 to 2025. Breakeven to £3.8m profit. £500k procurement savings. Salesforce CRM & Certinia ERP implemented cross business
Inveniam Capital Partners
A marketplace for mid market debt and equity serving institutional and qualified investors, combining strategic advisory with an online marketplace and a professional services network.
- Practice group leadership across strategic advisory mandates
- Mid market debt and equity marketplace for alternative assets
- Institutional and qualified investor client base
- Bridging the gap between the need for expertise and the need for capital
Dialogue Group
A2P SMS messaging for mobile network operators and for Google, Facebook, Apple and Twitter, repositioned as the only fully legitimate carrier in the market, then sold.
- Enterprise value £2m to £32m on exit in early 2017
- Revenue £13m to a £60m run rate, EBITDA £300k to £6m
- As CFO, finance headcount down 50% on a new cloud stack
- Debtor days 55 to 35, Sunday Times International Track 200
Mercia Corporate Finance
Executive assignments with companies of £3m to £15m revenues across construction, manufacturing, printing, digital media, aviation equipment and mobile messaging, often turnaround or rapid restructuring.
- Typical outcomes: revenue up 25% - productivity up 40% - £600k of cash generated
- Bank nominated board roles in businesses under special measures
- 2006 to 2010 General Manager PowerText: Breakeven to £300k profit. Revenues increased 300%. £500k raised
- 2004 to 2009 Finance Director Caffe Fratelli : From losses to £250k profits. Revenues £7 million.
- 2005 to 2007 A1 Housing Bassetlaw board member
Turnaround leadership
Consecutive restructurings in manufacturing and retail, each sold to a board or a bank before being executed, following training in audit and a first finance directorship.
- Hartstone Hosiery. Revenues £16m. FMCG Manufacturing
- £3.5m turnaround in 3 years. Headcount from 550 to 300. Product offer down 90%. Breakeven in 9 months
- Berketex Bride. Revenues £15m. Bridalwear Retail.
- Profitability from losses to £800k run rate. £1.1m of working capital released
- Charnos PLC. Revenues £28m. Knitwear Manufacturing.
- £250k cost reduction. 100% delivery. £500k state grant
Finance foundations
- Portfolio Foods Group. Revenues £100m. Food Manufacturing.
- Interim Group FC 1990. Reporting to the PE investor and board
- Woodhouse PLC. Revenue £3m to £15m. Clothing Retail
- CFO. 1982 to 1990. From losses to peak £750k profit. Implemented integrated financial stock buying & EPOS systems.
- Goodman Jones
- Senior Auditor 1980 to 1982. Managed the largest audit in my partner group
Every number here was delivered from an executive seat, not a slide.
CEO seats
CFO seats
Interim mandates
