Alvarez & Marsal
Excellence in Execution
Mike Trenouth is a Managing Di- rector with Alvarez & Marsal in London. He brings 28 years of ex-
perience in advising and implement-
ing performance improvement pro-
grams for major corporations across
a wide range of industry sectors. His
primary areas of concentration are
operational due diligence, 100-day
planning, post-merger integration
and performance improvement.
Recent assignments at A&M include
Operational Due Diligence (ODD) on a
wide range of targets including the UK’s
leading challenger to the Royal Mail, a
global chemicals manufacturer, a global
manufacturer of packaging for the pharmaceutical and food industry, the merger
of two of the UK’s leading business services providers, a German-based manufacturer of frozen desserts and a leading
UK manufacturer of bread.
“A&M subject matter experts have
spent years operating at a high level in
key sectors and are invaluable in the
due diligence process,” Tremouth says.
This ODD work is typically un-dertaken on conjunction with A&M’s
FDD team and also frequently incorporates Tax DD to ensure that the operational work is fully reflected in the
FDD findings and critically the identified performance improvement targets
are based on validated financial performance information.
Having identified the operational
thesis during the ODD process, Trenouth will typically lead the initial
post-acquisition work to ensure that
the thesis was realized in full and in the
shortest possible time.
A detailed and robust methodology
has been developed to ensure that
in the first 100 days, total clarity and
ownership was created throughout the
organization, a clear path to delivering
the growth and cost reduction developed
and the identified quick wins delivered.
Prior to joining A&M, Trenouth
spent eight years as a Partner with
L.E.K. Consulting in London. During
this period, he led about 40 operational
due diligence projects for both private
equity and corporate clients.
The ODD target companies included
Europe’s leading frozen food manufacturer, a major global publishing
company, multiple marine safety equipment manufacturers, a wide range of
logistics providers and a number of UK
and global retailers. This ODD work
encompassed the evaluation of both
cost reduction and revenue enhancement opportunities.
Prior to joining L.E.K, Trenouth
was a Director at iForce, UK’s leading ecommerce logistics provider.
Over a period of four years, under
his guidance, the PE-backed business
was turned from heavy loss making
to sustainable profitability through
a combination of operational performance improvement and the winning
of several marquee clients including
John Lewis Direct, Tesco (reverse logistics) and Boots.
Prior to iForce, Trenouth spent 10
years building the operational consulting business Celerant. He was one of
the key architects of Celerant’s growth,
from 20 to 800 consultants over seven
years, responsible for global Sales and
Marketing. Trenouth was also the head
of Celerant’s UK practice and managed
a number of key client relationships including ICI, BG Group and BP.
Trenouth earned a bachelor’s degree (1st class) in chemistry from
Bristol University and a doctorate degree in quantum chemistry.