Cerberus restructure means £1m hike in turnover

Cerberus Group, the Salford-based asset management company, is aiming to increase turnover by more than £1m in the next 12 months, following a restructure.

Following a restructure of share capital, Andrew Wilson has been appointed as the group’s new chairman and will focus on its strategic development as it looks to increase its £3.5m turnover by 30% in the next year. 

The Cerberus group, which includes Cerberus Asset and Debt Management, Andrew Wilson & Co, Charles Taylor Auctioneers and NBS, provides civil enforcement services to support official liquidators and receivers, including the execution of High Court Warrants and general commercial bailiff services.  It employs more than 60 people.

Andy Roe, managing director of Cerberus Group, said: “The restructuring of the group provides an improved platform for delivering the requirements of our current and valued client base and represents the first phase of a development of the business through 2009.”

The company used an undisclosed funding package from the Royal Bank of Scotland to restructured its share capital.