Turnaround Specialists for Distressed Projects
Internationally, Genco has earned a reputation as the 'Red Adair' and 'Nick Sloane' of projects and business.
Project Recovery is the turnaround of cost-and schedule-distressed projects.
Commercial Recovery is the turnaround of distressed businesses.
With a track record of 60+ successful recoveries since 2006, our reputation in this business speaks for itself.
Nearly all of Genco's entire history is recovery-based, with projects ranging from USD$100K to USD$350M.
Often misinterpreted, Genco recovery specialists are not traditional receivers or administrators.
Genco operates entirely in the interests of the project or business owner, our service is recovery, and growth based—it is not administrative salvage-based.
Traditional, salvage-based professional administration invariably results in downstream financial losses for project participants, in order to maximise the return for a priority interest, or a secured party.
In contrast, Genco operates constructive, growth based recovery, that prioritises absolute value preservation and project continuity.
Genco is typically the final line of intervention—taking the pragmatic, swift, and decisive action necessary to prevent external statutory based administration, or project step-in rights being invoked.
Universally and internationally, Genco success in Project Recovery succinctly comes down to this:
A rare combination of practical, trade-trained, electrical, mechanical, civils, and construction based expertise—coupled with the commercial expertise gained through decades of high performance public/SOE company leadership, including distressed turnaround.
- Business owner mindset, time is money and hours count.
- Entrepreneurial drive
- Public company level commercial focus
- Factual/realistic planning and reporting
- Taking swift and decisive action when action is required
- Running a cohesive and effective project team
- Driving the recovery firmly from site, not soft from a city office.
- Project estimating and valuation experience
- Trade trained construction experience
- Procurement connectivity
- Communications experience, from site office to Energy Minister.
Genco Core Point of Difference
Genco understands that when a project is in distress, the root cause is is rarely lack of intent—it is a breakdown in the critical line between executive strategy and field execution.
We seamlessly bridge the gap between the boardroom and the site office, by breaking down operational silos:
- Translating Strategy to Action: Ensuring that executive commercial strategies, legal parameters, and financial frameworks translate perfectly into relatable, efficient, safe, and decisive on-site technical recovery execution.
- Delivering Absolute Clarity: Ensuring that critical on-site recovery developments, milestones, and physical/commercial realities translate perfectly up to boardroom-level turnaround management and reporting.
The Theory vs. The trade-trained Project Professional
Project and Commercial Recovery most frequently emanates from:
- Inadequate and inexperienced project planning, scoping, engineering, scheduling, costing, and risk management.
- Inadequately structured commercial contracts.
- Inexperienced and ineffective project management and site construction execution oversight.
- Inadequate frameworks for managing project inevitabilities: contractual disputes, damages, public scrutiny, whistleblowing.
- Running a project around an office 38 hour week, not the site 72+ hour-per-week daylight envelope.
- Non-factual or sanitised reporting when performance drags.
Genco aligns its business with the core philosophies of the most successful names in project recovery:
"Projects are so often run by admirals who have never been to sea."
— DS
"If you think it is expensive to hire a professional, try hiring an amateur."
— Red Adair
"To everyone else everything appears to be impossible, then it is done."
— Nick Sloane
Genco's recovery experience foundation:
- Business startup, development and ownership over 55+ years
- International business experience across 30+ countries
- Deployment to developing and war-torn countries
- Trade training across multiple industries
- Years of site construction 'sea time'
- Directorship of private, public entities and SOEs including utilities
- Managing personnel numbers up to 1800
- Experience with trade unions
- Experience operating at the level of CEO
- Advisory to industry and government
- Recoveries of SMEs through to ASX/NZX/LSE listed companies
Business Mentors New Zealand
High-stakes turnaround expertise shouldn't be a luxury exclusive to large businesses and corporations. Genco Energy Group CEO gives smaller businesses, community groups, and not-for-profits across New Zealand access to world-class recovery expertise.
For 14 years, our CEO Justin Sollitt has successfully volunteered his 36 years of business start-up, ownership, and project recovery experience through Business Mentors New Zealand (BMNZ). BMNZ is a volunteer-based not-for-profit organisation established in 1991.
For a modest, nominal BMNZ fee, access to our Genco CEO's expertise can be secured pro-bono for one year. Many business owners across New Zealand are grateful for this highly pragmatic and down-to-earth guidance, often received at a time when it is critically needed but is otherwise unaffordable.
