After using Adaxial to identify the causes of some issues in one of our portfolio companies last year when we needed some input into manufacturing in another company they were our first port of call. Over the past few months Mike has worked with local management identifying the problems and implementing their solutions which have resulted in manufacturing efficiencies much higher than we had previously achieved. His involvement helped stabilise the business and identify some management issues that led to the recruitment of a new local MD so that the improvements can continue.

Peter Ward. RCapital (May 2011)

We asked Adaxial to investigate strategic and managerial issues that had arisen in one of our portfolio companies; we were impressed with their insights and requested them to do further work including a review of manufacturing. Their work identified a number of critical issues to focus on which led us to quantify the extent of the problem and take appropriate action.
Peter Ward. RCapital

I have known Denzil for many years and have worked closely with him on a couple of deals. Like many others he has a thorough knowledge of the purchase and sale of businesses but his abilities in overcoming practical and personnel issues through the process is remarkable. I have seen him deal with really challenging strategy and management team issues within companies as a Chairman and a CEO and he does this with great insight, objectivity and a pragmatism to which many would aspire.
Chris Allner. Managing Director, Octopus Ventures

The management team and I had worked together for almost 10 years and had mixed experience of non executive board members.  Therefore, it was with some apprehension that I, along with our VC backers and Group Chairman began to look for a suitable candidate for the role of Chairman for our organisation.  The company was going through a period of considerable challenge and it was important that we had a Chairman who would have credibility and status with the VC and bank but was also able to contribute positively to the management team and the development of the organisation.

Denzil stood out amongst the applicants as the ideal candidate.  He quickly built a strong relationship with me and the rest of the management team, getting to grips with the complexities of the business model and contributing strategically and tactically to the business plan.  Denzil held the respect of the VC and bank which was crucial when it came to convincing them to back the management team’s plans.

As a Chairman he is an effective facilitator, constructively testing the strategic and tactical decisions proposed by the management team, remaining objective and considering the needs of all the relevant stakeholders.  His advice is always balanced and considered. On a personal note as Managing Director I always found Denzil to be approachable, trustworthy and a reliable sounding board.  As a mentor he was generous with his time and expertise, altruistically offering guidance and support.
Joanne McManus. Managing Director, Tektra Ltd

We have worked with Denzil on a number of transactions in recent years and we have always been impressed by his knowledge of the transaction process, some of the main legal issues that arise (and how to tackle them at an early stage) and his ability to see the deal through. He has demonstrated his ability to lead a team where the different aspirations of some of the members need to be managed, whilst at the same time presenting a united front to the other party; he has complete focus and tenacity in driving the process forward to a successful conclusion.
David J James. Partner, For Moorhead James LLP

Denzil steps forward when he is needed and is prepared to deal with difficult business decisions in a pragmatic and focussed manner.
Adam Mc Giveron. Partner, Martineau Johnson

I have now known Denzil Lee both professionally and personally for over 25 years.  We’ve worked together closely in a range of categories and businesses.  Denzil is one of the smartest and most intuitive marketers I have ever met.  He is perhaps the most capable business leader I have worked with.  His insights are hugely impressive as is his clarity of thought.  He has huge amounts of drive and dogged determination.  He also has a remarkable ability to initiate new ways of looking at and solving problems which turn them into opportunities. Working with him is always fun, but be prepared for unique approaches and the exhilaration of very rapid progress
Robert Thackery. Partner, t7F London Brand Strategists

We have worked closely with Denzil for over six years on a number of different transactions, where he has been a central figure in the negotiation process. In the course of providing structuring and taxation advice to management teams, we have found his insight into the taxation issues and his ability to convey these issues to management to be enormously valuable.
Doug MacLeod. Partner Tax Advisory, Hurst Morrison Thomson Corporate Finance LLP