By Rhys Handley, Friday 11 January 2019
The former chief executive of the collapsed Paperhat Group has launched a new outsourcing company specialising in marketing collateral.
The brainchild of Tim Peppiatt, Peppiatt & Williams (P&W) was officially launched on Wednesday (9 January).
Peppiatt stepped away from Paperhat after it fell into administration last November, with its Communications wing sold in a pre-pack to Paragon and a number of further subsidiaries sold back to their original owners.
Peppiatt founded the new business in collaboration with financial communications veteran Steffan Williams as a strategic advisor. Peppiatt described his new company as a “cutting-edge” prospect that can “see the full picture” of both print and digital in terms of a client’s marketing spend.
The business is currently working in space at procurement firm Proxima’s offices in St Paul’s, London, and Peppiatt is looking to employ up to nine consultants at this initial stage, as well as courting “a couple of recognisable industry names” to join the advisory board.
He said: “Looking at the market today, it is very easy for clients to disengage from their media spend. Opportunities are getting greater, but increasingly confusing. Business models are becoming tired and clients need help.
“Given my background working in both supply and outsourcing, I understand both sides and bring a unique perspective. I can be freer than a procurement firm that has acquired its own print wing, for example. No commissions, no rebates, no discounts – our service will be completely aligned with what the clients and the suppliers want.
“I want to work with companies that can see the value in the [marketing] supply chain.”
As P&W gets off the ground, Peppiatt plans to begin work on building a pre-vetted supply chain focused on “assembling the right talent, supplier support and technology”. The firm will target “global brands and organisations” with the aim of helping to eliminate unnecessary outsourcing fees, rebates and commissions.
Paperhat entered administration in November due to “cashflow issues”, according to insolvency practitioners FRP Advisory. While stepping away from the top role, Peppiatt worked to fulfil his fiduciary duties to his former company during the insolvency process.
According to Peppiatt, “around 95%” of total jobs at the group were saved in the sales to Paragon and the other buyers.
“My takeaway from the experience was that I cannot just sit here and paint a bad picture of myself if I am able to help suppliers and clients in the future,” he said. “I am delighted that we were able to save as many jobs as possible at Paperhat and I felt behoved to be the one to share the bad news with the staff. I was not going to run away from it.”
Peppiatt reinforced that he would take on none of his former company’s own clients at P&W and that there would be “absolutely no conflicts of interest” as the firm takes off.