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Craig Letton CEO, MRM Global

In 2001 MRM Global launched as a digital printing company in Scotland. Ten years later, its husband and wife owners were looking to retire and pass the business on to someone else. Luckily, their son, Craig Letton, was interested in taking on a new opportunity that would require him to leave the corporate world behind. In 2012 Letton took over as CEO of MRM Global.

Business Challenges

Letton got off to a difficult start. A few months into his tenure, several of MRM Global’s customers left, representing a rapid 30% decrease in revenue. As a newly minted CEO, Letton had to focus his efforts on stabilizing the business and generating profit at a much lower revenue level. Two years in, Letton believed the business had few growth prospects and encouraged his parents to sell the company. Unfortunately, that process was unsuccessful.

Upon reflection, Letton noted, “We tried to sell, but we failed miserably because the business just wasn’t in a state to be sold. We did receive an offer, but I didn’t feel that it represented a true reflection of the investment my parents had made in the business or the potential I felt that it had.” This failure motivated Letton to transform MRM Global into a more valuable and sellable company.

Letton spotted an opportunity to use one of MRM Global’s existing products to solve a sales and marketing problem he had experienced in his previous career in fast-moving consumer goods (FMCG). Letton decided to focus all of the company’s resources on further developing a software platform, and he invested in specifically targeting the alcoholic drinks market, where the company already had success.

Upon reflection, Letton noted, “We tried to sell, but we failed miserably because the business just wasn’t in a state to be sold. We did receive an offer, but I didn’t feel that it represented a true reflection of the investment my parents had made in the business or the potential I felt that it had.” This failure motivated Letton to transform MRM Global into a more valuable and sellable company.

Letton spotted an opportunity to use one of MRM Global’s existing products to solve a sales and marketing problem he had experienced in his previous career in fast-moving consumer goods (FMCG). Letton decided to focus all of the company’s resources on further developing a software platform, and he invested in specifically targeting the alcoholic drinks market, where the company already had success.

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