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Success stories
Vysus Group Driving forward with diversification and strategic divestments
David Clark, CEO
and regulatory consultancy business, the firm most recently underwent a major structural transformation in H2 of 2022, underpinned by the divestment of three key businesses. The solution
How is Vysus Group thriving? Vysys has kicked on with its transformative vision to invest in higher-value technical and regulatory consulting services, underpinned by a major structural overhaul that saw three core business divestments in 2022, alongside continued rapid international growth in business driven by promising renewables and energy transition ambitions.
This was by no means an easy decision to make. Indeed, the company’s now divested transportation advisory business had been built organically from three to more than 30 people in three years, while a US business (primarily a field-based service provider) and its Senergy Wells business had improved performance and scaled up in recent times. Yet all three were divested as they did not fit with the longer-term future vision of the company.
The challenge Vysus Group hasn’t been shy of transformation in recent times. Having separated from its former parent company Lloyd’s Register to become an independent business in 2020, the organisation has undergone radical change, launching a five-year vision to position for net zero and implementing a new 30-30-40 vision – where revenue is driven by 30% oil and gas, 30% infrastructure, and 40% renewables. It has been no small undertaking. Where the old business had been significantly underperforming and suffering in challenging markets, Vysus has turned attentions in a completely new direction, leaving behind a legacy footprint and reliance upon upstream oil and gas revenue generation dating back to the 1930s. And that undertaking didn’t slow in 2022. To better deliver its core offering as a high value technical
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EIC Survive and Thrive
Upon becoming independent back in 2020, the firm had outlined a core strategic objective of focusing on investing in higher-value technical and regulatory consulting services, that could be deployed across multiple regions and sectors. If business activities didn’t align, they would be divested – a strategy that came to fruition in 2022. This was no simple undertaking. Divesting the three businesses while continuing to drive improved profitability across the Group has been a major challenge, yet one that was achieved thanks to the unwavering efforts of the firm’s staff. An internal team was set up to manage and complete the divestments, doing so in line with the firm’s targets on timings and value and in alignment with board expectations, and allowing the rest of the business to remain focused on improving wider performance.
2023