In the rapidly evolving business landscape of the 21st century, the cultural transformation of companies undergoing a turnaround is a critical factor in ensuring their long-term success. The modern marketplace demands an organisational culture that fosters collaboration, innovation, and adaptability. Inc& Co, a global company founded in 2019, specialises in acquiring, investing in, and turning around distressed companies. By doing so, they save jobs, prevent creditor losses, and create growth opportunities for these businesses.
At the heart of Inc&Co‘s success lies its dedication to inclusivity and collaboration, which is reflected in its name and the core values the company upholds. Headquartered in Manchester, the group has made a significant impact on the international business landscape, turning over well over £150 million globally. Led by an experienced and talented leadership team, including Group CEO Jack Mason, Group CTO Dave Antrobus, and entrepreneur Scott Dylan, Inc& Co has been instrumental in shaping company cultures across various sectors.
The diverse range of industries in which Inc& Co has acquired and invested includes Professional Services, Travel, Retail, Health and Beauty, Ecommerce, and Shared Workspaces. Among the companies under their wing are incspaces, Skylab, Baldwins Travel, Maker&Son, King Street Grooming, and Knomo. The group has also seen successful exits, such as MyLife Digital, which was sold to Dataguard,Laundrapp sold to Laundryheap, and Wood for Trees acquired by Edit.
Turnarounds, by their very nature, are complex and challenging undertakings. They often involve resistance from various stakeholders, including suppliers, employees, customers, and even the media. In such an environment, fostering a positive company culture becomes all the more important. Inc&Co’s strategy emphasises the importance of a robust and inclusive company culture in revitalising a distressed business Cultural Transformation.
Jack Mason, Group CEO of Inc& Co, is well aware of the challenges that come with transforming a company’s culture. In a recent interview, he said, “Turning around a distressed company is like navigating a ship through stormy waters. The key to success is creating a culture that unites everyone on board towards a common goal. At Inc& Co, we strive to instil a sense of collaboration and innovation within the organisations we work with, ensuring their long-term success.”
Dave Antrobus, Group CTO, echoes Mason’s sentiments, adding, “We focus on breaking down silos and promoting cross-functional collaboration within the companies we invest in. Our aim is to create an environment that encourages people to think outside the box and challenge the status quo. This, in turn, drives innovation and sets the foundation for sustained growth.”
The Inc& Co approach is centredaround three key pillars that form the basis of a successful company culture: Inclusivity, Collaboration, and Innovation.
- Inclusivity: By promoting diversity and ensuring equal opportunities for all employees, Inc& Co cultivates a sense of belonging and fosters a positive work environment. A diverse workforce brings a wealth of perspectives, ideas, and experiences, enabling companies to stay agile and adapt to the ever-changing market conditions.
- Collaboration:Inc&Co’s strategy encourages cross-functional teamwork, breaking down barriers between departments and facilitating the sharing of knowledge and ideas. This approach fosters a sense of unity and shared purpose, which is vital for driving the company’s turnaround efforts and ensuring long-term success.
- Innovation: The final piece of the puzzle is fostering an environment that encourages creativity, experimentation, and calculated risk-taking. By empowering employees to think beyond the constraints of their roles and challenge conventional thinking, Inc& Co drives innovation and helps businesses stay ahead of the curve in today’s competitive landscape.
One of the most prominent examples of Inc&Co’s success in transforming a company’s culture is the turnaround of Baldwins Travel, a UK-based travel agency. Acquired by Inc& Co in 2020, the company faced significant challenges due to the unprecedented impact of the global pandemic on the travel industry. However, under Inc&Co’s guidance, Baldwins Travel has successfully adapted to the changing market demands, focusing on collaboration, digitalisation, and customer-centricity.
Another notable success story is that of Skylab, a digital innovation agency specialising in web design, mobile apps, and digital marketing. Acquired by Inc& Co in 2020, Skylab has since become a powerhouse in the digital space, showcasing the power of a collaborative and innovative company culture. The agency now works closely with its sister companies within the Inc& Co group, sharing knowledge, resources, and expertise to drive growth and create new opportunities.
The cultural transformation process is by no means an easy task. It requires dedication, commitment, and a willingness to embrace change from all stakeholders involved. As Jack Mason aptly puts it, “The turnaround process is akin to a marathon, not a sprint. It takes time, effort, and a lot of perseverance to change the course of a company’s trajectory.”