Adviser Profile

Name	CUNNINGHAM, David
Expertise	Strategic Management Mentoring growth companies Financial control (Qualified CA) Logistics Family Buisnesses Sales and Marketing General Management

Career Summary

• Ernst & Young ( 1978- 1981 ). - qualified as Chartered Accountant.
• In 1981 I joined the family " firm " when my father fell into ill health and subsequently semi-retired. At that time the company was a small local supplier of potato crisps to the retail trade. T/O was c£400,000, profits negligible, 5 employees , 4 distribution vehicles and a small garage/warehouse.
• I sold the company in 1994 to Dalgety p.l.c. At the time of sale ,t/o was £18m, profit pre-family costs c£650,000, locations in Aberdeen, Livingston and Irvine, 55 distribution vehicles and c160 employees.
  Dalgety approached me and the company was sold for a substantial sum.
• 1995 - I bought a majority investment in a distributor of forecourt accessories. The company grew substantially in the period between my purchase and it's sale in January 1997 to a 3i owned company called Snakco p.l.c. which I joined as a director having received loan notes guaranteed by Bank of Scotland for my majority equity stake.
• Appointed full-time M.D. of Snakco Ltd. on the dismissals of the managing director and sales director, following a full strategic review by B.O.S. and 3i. The group owned several trading companies, traded from 7 locations and had incurred losses of at least £1.4m in a 6-month period. A replacement chairman was also appointed. Much remedial work was instigated and the company continued trading until late 2000 when we placed it into receivership having reduced the bank debt from £5m and being extremely close to selling the company and repaying a substantial part of the 3i investment.
• 2001 - date
  • Opened a bridal boutique in Ayr with my wife.
  • formed a property company.
  • Appointed a director of 360 Pano Ltd.