Megson raises his glass to the EU newcomers

BRIAN Megson, ousted as chief executive of whisky giant Whyte & Mackay last year, has re-emerged in a non-executive role at a fast-growing Scottish company which gives financial advice in the brave, new world of an enlarged European Union.

Fifteen months after his surprise departure from what was then Kydnal Spirits, where Megson led a management buy-out from Jim Beam Brands before a boardroom coup that left him jobless, he appears happy, de-stressed and enthusiastic about the future of Hillington, Glasgow-based Bradley Dunbar.

This small group of five associated firms dotted around the now 25-nation EU, has seen its turnover soar from €1m in 2002 to €6m last year as accession countries – such as Estonia, Lithuania, the Czech Republic and Poland – sought advice on how best to spend the millions of euros in structural funds now available to them.

Kevin Bradley, the managing director and company founder, took Megson on board at the beginning of the year through contacts at Scottish Enterprise to help the company raise capital and develop a strategy to cope with its rapid growth.

After Megson left Kyndal he retreated from business world. He needed time to reassess his position, his life, and simply to relax.

"I stayed home and met the family again. I did whatever I wanted. I bought by myself a little soft-top (Audi) TT and I toured Norway. That's about it. I relaxed and thought a lot."

Both Megson and Bradley admit to a certain symbiotic relationship. Both are serving each other's purpose. As a former high-flyer and one of the most respected operators on the Scottish business scene, Megson's new role is doubtless a powerful endorsement for this small, but ambitious company. For Megson, Bradley Dunbar is a fresh way back into business after his absence.

"I'm having a good time," he said. "It's a big change, of course. Before, it was a business of 700 people and x-hundreds of millions of pounds.

"This is quite different. It's interesting seeing the problems of a company that's much smaller. It's a fascinating business with immense potential and I'm certainly happier now than I was a few years ago."

Megson said he is helping the company raise around £1m through banks and individual backers. He also said he was "discussing" the possibility of investing in the company himself.

One of its tactics for growth – aside from the continued consultancy services to the governments of new and future EU members – will be to develop business strategies for Scottish firms in the bigger Europe by matching companies with the numerous EU-funded projects. The company is also developing a software tool, which it hopes will aid this process.

Bradley said: "We expect to turn over at least €9m by the end of 2005 and to have increased our total staff from 30 to 100.

"We know exactly where the European money is being spent, because in many cases, in Lithuania or Estonia, for example, we advised on how and where to spend the funds. So it's an easy and very structured market, and there is so much work to be done in areas like educational software, IT, telecoms and energy efficiency, to name just a few."

He added: "We're very ambitious, so having Brian on board is extremely good for us."

May 10 2004

The Herald