Balancing Family Life With Family Business: Interview With Tim & Mara Rastall

Two years post-management buyout, we speak with Enspec’s majority shareholders about the highs and lows of operating their family business, implementing a people first company culture, the importance of mental resilience and what lies ahead for Enspec and its growing client base.

How do you feel when reflecting on the early days post-MBO?

Tim: "We knew taking over would be challenging. The first year felt like a trial by fire as we transitioned to managing our own responsibilities, leading the team, driving them forward and being accountable for Enspec's success."

"I remember that it was a very different type of pressure, the feeling of extra responsibility, creating better alignment with business operations and all while not exactly being cash rich at the time either."

Mara: "One of the things that I think we learned during the first year that you buy a business is not to do a house extension and have a baby. We didn’t intend to do all those things at the same time but for various reasons it all happened at once. There was so much risk and lack of buffer in that first year. We had put in place mitigation strategies to protect ourselves. Ultimately the first year after the MBO felt like threading the needle."

The demands on both of you must have been high?

Mara: "Tim and I shared different responsibilities during that time which is the only way you can do it I think."

"Balancing all of life’s responsibilities is not something that you just figure out. As our kids get older our responsibilities will change and we will continue to grow and shift with them. And the same will apply at Enspec too. We often think that we could be further along with certain company plans but you can’t get everything right. "

You’re now in your third year as majority owners… What was year two like?

Tim: "The second year post-MBO differed significantly due to the stable foundation established in the challenging first year. While pressure remains, daily experience has made it more manageable, with each year building upon the last. We now have control over key business areas and a strong, dedicated and multi-skilled team. That made the second year more enjoyable as we transitioned from fighting some fires to get the ball rolling to actively pursuing growth."

Mara: "Following a challenging first year and overcoming numerous obstacles, we have emerged significantly stronger and are now well-equipped to handle future difficulties. When you are leading a scaling business you have to be a certain type of individual to thrive as things change constantly."

"Fundamentally, the amount of mental resilience that both Tim and I have developed over the first year with what we went through, both personally and professionally, has really solidified us this year as leaders. Having navigated the two years since the MBO, I believe we possess a significantly more practical grasp of the necessary considerations and potential investments for Enspec. This includes not only financial resources but also crucial factors like time allocation and logistical planning, which are essential for effectively managing a family business."

Talk to us about Enspec’s people…

Mara: "What I’m really proud of is doing all of this while implementing a people first culture within Enspec. What’s been accomplished so far when you look at it from a third party perspective, ignoring all the stuff that you wish you could have done or the nice to haves, is fantastic. The team has done a great job. And I think we will continue to grow as a team. For them to be able to work in the chaos of Tim and I figuring out the balance really is a testament to them."

What do the next 12 months look like for Enspec and its growing client base?

Tim: "We operate with a really high growth sector and that’s exciting to say the least. We know how important being adaptable and responsive to market shifts is. Enspec sees significant opportunities in the data centre market and other global regions, leveraging our expertise in power quality and renewable energy."

Mara: "We have also become good at acknowledging ongoing challenges and working constantly on continuous improvement and innovation in order to stay competitive. You know, even with the tumultuous political situation over in the States, there are great opportunities for us there. Moving towards data centres is massive for us too, as Tim has mentioned. Our capability as an expert in the industries of large energy users and generators means that we sit very strong, regardless of what political and economical shifts take place in the future."