Integration Support for Merger of ‘Equals’
The Situation
A publicly traded global manufacturer of specialty chemicals acquired $350m manufacturer and distributor spray polyurethane foam (SPF) insulation systems to fully integrate within its existing SPF division. The Company engaged Accordion just after deal signing and prior to close for clean team analysis, synergy identification, overall merger integration planning and execution, and to enable the successful merger of the target onto the existing business division.
Services
Merger Integration Planning & Execution
Synergy Identification, Execution and Tracking
Day 1/ 100 Planning and Execution
The Execution
- Developed and supported end-to-end integration process beginning right after deal signing through deal close and post-close.
- Deployed overall integration office management (IMO) governance structure to ensure smooth functioning of the merger integration planning and execution resulting in issue-free Day 1 and post-close operations.
- Developed interim and future state operating models including current state assessments, high-level organization design, and talent maps.
- Overall synergy management:
- Clean team setup and analysis
- Development of synergy targets and one-time costs
- Synergy plans with prioritization of quick wins/critical items
- Synergy tracking guidelines and process
- Day 1/ Day 100 and future state planning:
- Overall integration roadmap identifying critical path items and related prioritization matrix
- Development of detailed functional plans including cross-functional dependencies
The Results
Accordion’s end-to-end integration support ensured that the Company achieved the deal objectives with minimal issues and delays – which was highly recognized within the overall buyer organization considering the client didn’t have any in-house integration expertise. Our team not only supported issue-free execution of the integration, but also delivered a repeatable merger integration process that captured best practices and lessons learned which the client can leverage in future acquisitions.