The SICPA Group
After becoming a major global enterprise under the entrepreneurial leadership of its founding family, SICPA Group, a Switzerland-based specialty ink company, began experiencing financial challenges. The company’s board hired Alvarez & Marsal as Chief Restructuring Officer to address the financial situation and improve performance by building on the company’s outstanding heritage and positioning it to succeed over the long-term. The Alvarez & Marsal team conducted a thorough analysis of the cash flow and cost structure. This provided the foundation for developing a new, comprehensive performance enhancement strategy, which Alvarez & Marsal took the lead in implementing. As a result of the turnaround plan, SICPA succeeded in tightening cash flow management procedures, reducing operating costs and consolidating manufacturing facilities. It also commissioned a new plant that more effectively allocated resources, sold several non-core assets and provided its workforce with a greater sense of direction. Within a few months, SICPA had reshaped its business, significantly improved operations and had a plan in place for future growth.
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