BUSINESS APPROACH

BACKGROUND

ERS was established when the current Partners identified the need for a Pan- European offering in turnaround, restructuring and related fields.

The original arrangement developed as a collection of primary boutiques with a top reputation in their respective five countries.

Afterwards, building on experience gained in a number of cross-border projects in which ERS members have participated, it was evident that a more integrated approach would leverage the opportunities for ERS in supporting large companies operating within Europe that have “special situations”.

Furthermore, the sharp increase in inward investment into Europe by non-European financial and industrial entities creates the need for a pan-European organisation focused on the mid-market and offering turnaround, restructuring and related services to businesses with challenging situations in line with local national practices.

How do we work together?

ERS entities are linked by a cooperation agreement regulating all key contents of common business transactions. ERS members continue to trade and report their financial affairs as separate national entities. However, significant integration tools have been adopted in order to coordinate ERS initiatives and to ensure an efficient driving of multi country project teams, such as:

ERS Management Committee is made up of 5 members. A non voting President ensures proper debate and review of ERS initiatives. Each of the five participating members have one vote on the Management functions.
Regular executive management meetings are held at least monthly. These define the functions and competences of ERS resources that need to be allocated.
One ERS entity will act as the main contractor to the Client with other entities participating as required.
The allocated resources will cover the project requirements within their respective country and report back to the main contractor. The Client will benefit from a single point of contact for managing the project.
The Senior Manager of the Main Contractor assigned to the project will have the ultimate responsibility for selecting the multi-country team and coordinating the program implementation.