Regenersis is strengthening its management team bringing on board Simon Harper, former HTC customer services chief, as chief operating officer, and Pritpal Matharu, Carphone Warehouse business development director, as head of its Renew division.
The appointments are part of a three-pronged strategy which sees the mobile and consumer electronics repair company gunning for double digit growth over the next three years through global expansion, acquisition and the recruitment of high calibre individuals.
News of Harper and Matharu’s arrival came in the same week the company announced its preliminary results for the year to June 2013, which show a 28% jump in group revenue to £179.7m, with headline operating profits rising 22% to £9.5m and operating profit more than doubling to £7.5m.
Executive chairman Matthew Peacock told Mobile Harper will play a key role in consolidating the company, following rapid growth which has seen the company expand into nine countries since 2011, bringing the company headcount to 3,751 staff. Regenersis currently has 21 depot sites and runs 105 retail units in 13 countries.
Peacock said: ‘Simon will focus on our change and transition programme for our customer facing businesses. He comes from a very senior role at HTC and with invaluable experience as a management consultant before that.
‘He will make a great addition to our plans to provide a ‘One Regenersis’ approach, which is very much on our task list.’
Peacock said Matharu’s brief is to drive growth at Renew. The newly launched division, which sits in the company’s Advanced Solutions business, delivers client-led repair services, insurance and extended warranty solutions and refurbishment services in partnership with EcoAsia.
He added: ‘[Matharu] brings his experience of the retail sector and insurance services and he will be responsible for growing Renew’s profit streams.’
Regenersis, which provides repairs and related services to clients that include Samsung, Nokia, HTC, Orange, Telefonica, John Lewis, LG and Toshiba, is keen to expand its business globally through acquisitions and partnerships and to increase the number of services it offers via its Advanced Solutions division.
Peacock said Renew, as part of the Advanced Solutions division, was an increasingly important part of the business, adding: ‘Two years ago Advanced Solutions didn’t even exist and now delivers 30% of our profits.’
Key deals and acquisitions include a partnership deal with EcoAsia for refurbishment services, inked in September this year and a £750,000 investment in remote diagnostics company Xcaliber, which was agreed in July.
Peacock said: ‘We believe Xcaliber is at the forefront of remote diagnostics technology which is of increasing importance, as OEMs and operators look to continually reduce their costs and increase customer satisfaction, by reducing unnecessary returns.’
The company also recently inked a major three year European-wide deal with ‘a leading OEM’ to carry out mobile repairs on all its devices across seven countries which Peacock said he believes is ‘an industry first’.
Peacock declined to identify the OEM but said the deal was indicative of the way the repair market is changing. ‘Clients want to deal with fewer partners as fragmentation is expensive and inefficient. We see ourselves as one of the major global competitors in this business, represented across all key names and we aim to become the market leader in this field.’
Turning to the UK, Peacock said the market was ‘much more competitive’ compared to most, with well established players. The company completed the closure of its Glasgow operation this year, which had been announced last year. It also sealed a new deal with Samsung for mobile repairs at its Normanton site. The company is also looking to strengthen its infrastructure in the UK to gain greater share of the market.
Peacock added: ‘Although we have facilities in Huntingdon and Normanton we need a large and centrally located facility capable of processing large volumes. That is at the planning stage and very much part of our plans.’
Author: Carol Millett