Cyrus appoints Strategic Investment Manager and Managing Director of Rhino Doors
Cyrus Investment Management LLP (“CIM”), the specialist engineering turnaround EIS investment adviser, is pleased to announce the appointment of Stuart Lawrence in the newly created role of Strategic Investment Manager, as well as Managing Director of Rhino Doors (“Rhino”), one of the UK’s leading high security door manufacturers and CIM investee company, commencing May 1st 2016.
Stuart’s previous role was at CNIM, the French multinational, where he was focussed on the nuclear and defence sectors. Prior to this, he was the Managing Director of Booth Industries, Rhino’s largest competitor. Commenting on his appointment at both CIM and Rhino, Stuart advised “I am delighted to be joining Cyrus Investment Management and I am particularly enthusiastic regarding the clear growth potential for Rhino Doors. The planned investment for Rhino Doors over both the short and medium term will realise a significant increase in growth and profitability, building on what is already a profitable business”.
David Hitchcock, Executive Chairman of CIM, commented: “We are very pleased to have Stuart join both Cyrus Investment Management and Rhino Doors. Stuart’s past experience at CNIM and Booth Industries means he brings with him a wealth of experience in the security door sector, combined with the expertise and passion needed to lead CIM’s innovative growth plans for Rhino Doors. In his new role of Strategic Investment Manager, Stuart will also be a valued addition to the team as we come to source investee companies for CIM’s second fund, Cyrus Precision Engineering EIS Fund 2, which is anticipated to close by the beginning of April 2016”.
CIM was fully invested in Rhino on 4th of April 2015, in line with the close of CIM’s first fund, Cyrus Precision Engineering EIS Fund 1. Rhino is one of the UK’s leading manufacturers of security doors, barriers and gates for UK critical infrastructure. Rhino is recognised for the extremely high durability and quality of its wide range of products, with every door made having a long service life, excellent reliability, and low maintenance costs. The business is one of the few in the country that holds accreditations from the Ministry of Defence, Post Office and the National Inspection Council for Electrical Installation Contracting (NICEIC).
In the UK, CIM is the only dedicated Enterprise Investment Scheme fund manager that offers individuals the ability to invest exclusively in the precision engineering asset class, with a management team that has over 50 years of experience of profitably investing in, re-structuring, and exiting British precision engineering companies.