You are Jordi Aubareda-Llopart, 47, just-appointed CEO of Maquinaria Llobregat, a 62-year-old Catalan industrial-equipment maker (textile and food-processing machinery). Your grandfather founded the firm in 1964. You inherited a profitable but stagnant business: €184M revenue flat for five years, 9.6% EBITDA, two competitors gaining share. The board has given you 18 months to commit to a renewal strategy.
The firm
Maquinaria Llobregat ("MaqLlo"): three product lines — textile finishing (54% of sales, 30-year-old technology, slow decline), food-processing (38%, growing 4% in line with Iberian food industry), and industrial-cleaning systems (8%, new in 2018, growing 22%). 740 employees. Two factories: Sabadell (textile, 380 staff) and Vallès (food + cleaning, 290 staff). Family ownership: 78% family trust (your uncle Pere chairs the board); 22% Catalan industrial-development fund (CDC).
The diagnosis you and the strategy consultant did over your first 90 days: the firm is profitable on yesterday's technology. The textile line throws cash but is shrinking. The food line grows with the market but doesn't take share. The cleaning line is the future but is starved of investment. Two competitors — one Italian, one German — have moved aggressively into software-enabled service contracts, where MaqLlo has nothing. Your uncle Pere wants stability. The CDC representative wants growth. You have 18 months to commit.