Mulholland warns competitors: "We're after you"
Derby-based epm: technology has told Insider it is looking to acquire up to five companies as part of an expansion drive. Its managing director, Graham Mulholland, said:"We're actively picking on our competitors. I've got the brochures of five of our competitors on my office wall, and we are going for them. What's more, they know we're going for them."
He was speaking at Insider’s Midland Deals Debate in Coventry.
Mulholland - one of Insider's 42 under 42's - said that companies looking to acquire should do it through hard work, rather than always relying on a business angel to provide funds.
He added: "Don't always expect a business angel to make things better for your company. But do expect them to at least come to a board meeting once a quarter. It's all about having a grown-up conversation with investors and looking at what experience they can bring to the table.
"My advice to companies looking to make their first acquisition is to try and raise the money yourselves, and to work as hard as it takes to make it happen.
"What you can do is, on the back of your first deal, look to secure a business angel to get involved in your second and third deal. That's when the power is in your hands."
epm: technology employs 80 people at its Draycott facility. It specialises in making parts for Formula 1 teams as well as working with world touring cars and British touring car teams. The company works with vehicle manufactures including Aston Martin and Bentley.
Mulholland said that patience was important when putting together a deal.
He added: "The power is in your hands, but if you can't afford to do it, then don't do it. Any company looking to acquire should look to get together as much money as possible. It’s all about taking your time and have patience."
Mulholland also called on the government to introduce tax breaks for acquisitive companies.
He said: "I'd like to see a few incentives introduced by the government to get the deals market moving again," he said. "There should be different bands and different sets of rules for companies looking to grow.
"We had two companies, and had to sell one of them because it meant that we went over a certain tax threshold. That seems a very negative thing to happen."
Photo: Mulholland recieving his Insider 42 under 42 award
