Primal is on a mission to equip every body to discover their true potential, and we’re looking for a Financial Controller to join us on our journey to becoming the number one strength brand in Europe.
Our business ethos represents our Glaswegian heritage; proud, hard-working, humble, humorous. If you share these qualities and have the potential to become a finance leader of the future, you could be just the person we’re looking for.
Primal’s customers include leading professional sports teams, like Celtic and Rangers Football Club, and an array of celebrity clientele. The company has delivered impressive growth since launch. Its dual track focus on serving both the commercial and home fitness markets mean it has been able to respond to developments in strength training in the traditional gym setting, as well as the surge in demand for home gym fit outs and home workout equipment.
In June 2021, Primal partnered with London based private equity firm Flywheel Partners to help accelerate its growth plans. Primal has created a distinctive brand and strong market position driven by customer service, quality and innovation.
In addition to Primal’s exceptional branded product range, its partnerships with premium cardio equipment providers and in-house gym design service allows it to provide a full turnkey solution for its clients. It has seen five years of continual growth and annual revenues more than quadrupling since 2018.
Over the last couple of years, the business has boasted turnover of £12.5m (year ending April 2021) and £15m (year ending April 2022) making £3.5m and £2m EBITDA respectively in the process. Primal has just delivered a record month of sales, following the success of Black Friday.
Since Flywheel have come onboard, Primal has been investing in its team, its systems, physical infrastructure, and brand to provide the best possible platform to take the next step on its growth journey. The business has a plan to deliver international growth in the coming years and to navigate this, particularly in a climate of dynamic supply chain challenges, Primal has decided to appoint a Financial Controller who will play a key role in developing a robust finance and systems infrastructure that will support the business as it scales.
This is an exciting, progressive opportunity for a talented finance professional with the desire to join a high growth business, and an exciting international strength and fitness equipment brand, embarking on a new chapter in its journey. It is crucial that the appointed candidate is a dynamic and driven accountant with the ability to improve financial processes and management reporting within an expanding business.
Job Title: Financial Controller
Reports to: Robbie Innes, CFO
As Primal embarks on the next phase of its growth journey, the Executive Team and Board has identified the need to appoint a Financial Controller to support the business as it scales.
The post-holder must be eager to develop a strong understanding of the operations beyond finance. The Financial Controller will possess excellent communication skills both verbal and written. The individual must be comfortable to engage with stakeholders across all levels of the business and convey financial information to non-financial colleagues. Primal is keen to appoint an individual who can grow and develop in tandem with the business. The ability to play a leading role in the implementation of a new finance system will also be highly beneficial to the business.
The primary responsibility of this role is to closely support the CFO by producing detailed and timely financial reporting and MI. There will be a focus on process improvements and ensuring that appropriate controls and reconciliations are in place. In keeping with the expanding profile of the group - the ability to question, challenge and flex with change are also vital. At present certain finance tasks are outsourced and over time the business plans to bring these back in-house and the Financial Controller will be key to enabling this. As a result of joining the company at such an exciting stage in its journey, the expectation is that the role may evolve with time as the company does.
Key Priorities of the Role
- Oversee the completion of the management accounting and month-end close process
- Development and delivery of insightful MI and KPI reporting to support strategic decision-making, including monthly board report
- Take ownership of business planning, budgeting, and forecasting process
- Working capital optimisation, in particular working with merchandising team on stock ordering
- Management of year-end audits
- Review of corporate tax and VAT returns
- Keep up to date with technical accounting developments, providing support and advice to the finance team
- Ensure financial controls are in place, identify efficiency opportunities and suggest ways to eliminate duplication
- Play a leading role in implementation of new finance system, including working closely with the warehouse team to implement inventory controls
- Management of outsourced transaction processing team and development of in-house Finance Assistant
The Financial Controller will bring best practice from previous roles to improve financial processes and will build positive and influential relationships across the business. The individual will be comfortable with and adaptable to change as the business continues to evolve.
Key Candidate Requirements
- Qualified accountant (CA, ACCA, CIMA)
- Ability to develop robust processes and controls
- Comfortable supporting or partnering with director level stakeholders
- Ability to manage and develop a small finance team in time
- Advanced Excel skills working with large and complex spreadsheet models
- Relevant experience, in a medium sized business
- Experience of implementing a new system
- An understanding of inventory management
- Confident communicator at every level, with strong inter-personal and influencing skills
- Committed individual, displaying drive, ambition, and professionalism
- Ability to thrive in a fast-paced environment
Pension: 3% employers’ contribution
Holidays: 20 plus 9 public holidays
Bonus: Eligible for companywide 13th cheque annual bonus
Other Benefits: On-site parking and free access to on-site Primal gym
For more information on remuneration please contact Jonathan Donnelly at Rutherford Cross.