At the end of last year, Hadlow College was awarded the Institute for Turnaround public sector award. Indicating the calibre of the award, the runners-up included the KPMG Turnaround Team and the Core Education Trust.

Hadlow’s turnaround began in 2002 when the college was bankrupt - recording losses approaching a total of £500,000, with a turnover of £5 million. But while mismanagement of policies, procedures and finances let the college down throughout this unrelentingly dreadful period, the teaching standards remained good - a tribute to the commitment of first-class lecturers.

Hadlow was - and still is - Kent’s only college specialising in education and training for the rural sector; enormously important in a county that derives economic and social benefits from agriculture, horticulture and associated industries. Had Hadlow gone down the pan, the impact on the local area would have been disastrous.

Blueprint for success

The inadequate management team was replaced, Paul Hannan was appointed acting principal and I was seconded from city accountants and auditors MacIntyre Hudson to lead the financial and business turnaround. The combination of Paul and I turned out to be the right people in the right place at the right time. Paul’s background was in education, mine was in corporate finance, acquisitions and turnarounds. We shared a vision and went on to prove that determination, commitment and a shared goal could move mountains. Joined by the entire staff, “Save Hadlow - the Turnaround Vision” was underway.

I recall that the balance sheet was in freefall. I juggled and rejuggled finance, while at the same time bringing millions into the college via partnerships and corporate deals. Barclays, with whom the college continues to have excellent relations, demonstrated faith by supporting and lending £1.5 million.

Meanwhile, Paul was restructuring the curriculum and building the external relations that were fundamental to success.

Early on, I recognised that public funding could always be jeopardised by changes in central government policy. Thus the decision was made to regard the college as a business - albeit with the students the most important and primary “clients”.

Private-sector practices were adopted to benefit and safeguard the institution and the “one-third, one-third, one-third” strategy, whereby Hadlow derives its income in three approximately equal segments - further education, higher education and commercial activities - was devised. If one segment has a downturn, the other two segments will redress the balance.

This structure, since used as a blueprint by other colleges, continues to go a long way to safeguarding Hadlow, and for several years, the college has reported one of the lowest dependencies on government funding in the country.

Breakthrough after breakthrough occurred and each, however small, contributed to the ultimate goal. The situation improved dramatically in 2005 when the college was inspected again by Ofsted and awarded a rating of “good”. A further Ofsted inspection in 2010 resulted in Hadlow being awarded “outstanding”.

From turnaround to transformation

The commercial arm has grown substantially to support curriculum and apprenticeship development. Never resting on achievements and always determined to make the differences that matter, we at the college has continued to build our empire.

The Betteshanger Sustainable Parks project is regenerating an area of east Kent that has suffered deprivation since the last coalfield closed in 1989.

Hadlow was responsible for the largest and most effective 2012 Olympics legacy project - the £7 million Royal Borough of Greenwich Equestrian Centre - set up in a partnership with the Royal Borough.

The Hadlow Rural Community School is the only free school in the country with a dedicated rural ethos, and one of the most successful free schools in the country.

The takeover and acquisition of K College in 2014 has resulted in well-founded West Kent College being restored to the community, while the part of K located in Ashford was renamed Ashford College - a decision that was met with approval and support.

Our “turnaround” has been completed but our “transformation” continues. We perceive the Hadlow Group as a catalyst with the vision to benefit Kent and way beyond.

Mark Lumsdon-Taylor is deputy principal and deputy chief executive of the Hadlow Group