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Similar a Webinar: Key Aspects for Maximizing Synergies Through Effective Post Merger Integration
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Webinar: Key Aspects for Maximizing Synergies Through Effective Post Merger Integration
- 1. Key Aspects for maximizing Synergies through effective Post Merger Integration GPMIP Webinar Series February 20th, 2014 Video of this webinar available on YouTube
- 2. Key Aspects for maximizing Synergies through effective Post Merger Integration GPMIP Webinar Series February 20th, 2014 Stefan Hofmeyer Moderator Partner, GPMIP San Francisco
- 3. About Global PMI Partners An international services organization comprised of 10 country-based firms We provide pre- and post-merger integration services (M&A Integration) for mid-size and large scale acquisitions Training | Advisory | Integration Execution GPMIP Partner Firms Our extended network of PMI consultants
- 4. Today’s Webinar & Panel Discussion Scott Whitaker Presenter & Panelist Founder, Whitaker & Company GPMIP US Partner Scott is author of the Merger & Acquisitions Integration Handbook. Serving clients across industries, Scott has over 20 years’ experience in strategic planning and all aspects of M&A integration. Michiel van der Heijden Panelist Global Finance & Operations Director Mölnlycke Health Care Michiel is involved heavily in M&A and integration projects and is responsible for valuations of potential M&A targets. Recently he managed an integration of a Polish manufacturer and an acquisition in Germany. Danny Davis Panelist Founder, DD Consulting GPMIP UK Partner Danny is an author, a guest speaker on M&A integration at London Business School and was programme director M&A at Henley Business School. As a lead consultant, Danny has been involved in deals from £5mnto £16bn. Christophe Van Gampelaere Panelist Founder, Integrator International GPMIP Belgium Partner Christophe started Ernst & Young's transaction integration practice for the Benelux countries before founding Integrator International. He has led multibillion dollar global deals for both integrations and carve- outs. Thomas Kessler Panelist Founder, Integration Success GPMIP German Partner Thomas has delivered more than 28 integration projects across Europe, North America and Asia. He regularly trains European and South East Asian companies in M&A Integration and is a guest speaker at Zurich University of Applied Science. Stefan Hofmeyer Moderator President, ModalMinds Inc. GPMIP US Partner Stefan has delivered business transformation across 31 clients with focus on extended management and process improvement. He is deeply involved with US / China cross border business development.
- 5. Post Merger Integration Introduction GPMIP Webinar Series February 20th, 2014 Scott Whitaker Presenter and Panelist Partner, GPMIP Atlanta
- 6. Integration Activities Pre-planning • Setting the Parameters of integration timing, addre ssing core business strategy issues, if necessary, an d securing outside resources Integration Due Diligence • Securing background data on all functional business areas and business activity to inform your integration planning Integration Office Planning • Establishing an IMO to run your integration project Execution • All major integration activities, co mmencing from day one of your integration to end state Wrap-up • Post integration surveys and integration- closing activities
- 7. Integration: What Could Go Wrong? People ExecutionPreparationPreparation 1 1 0
- 8. Integration: What Could Go Wrong? People ExecutionPreparation • Lack of integration pre-planning • Overpayment for acquisitions • Weak due diligence on people and operations • Overestimated synergies • Lack of shared vision/strategic direction • Low/no integration budget • No integration playbook or consistent approach Preparation
- 9. Integration: What Could Go Wrong? People ExecutionPreparation • Cultural conflict • Key talent loss • Lack of attention to people issues during implementation • Competing priorities • Lack of executive commitment Preparation
- 10. Integration: What Could Go Wrong? People ExecutionPreparation • No Integration Management Office or team (or poorly resourced team) • Ineffective technology integration • Slow pace of integration • No end-state planning • Scope creep Preparation
- 11. PMI Best Practices: Pre-Planning “He who fails to plan is planning to fail” Pre-Planning is where integrations are won and lost Allocate a minimum 90 days of integration pre- planning prep Manage the pre-planning regimen like the execution phase
- 12. PMI Best Practices: Pre-Planning “He who fails to plan is planning to fail” Mobilize your Integration Management Office 90 days prior to Day 1 Define scope, roles & responsibilities for IMO leads Secure resource commitments in advance… clear the decks! Develop a strategy & process for getting information
- 13. PMI Best Practices: Pre-Planning “He who fails to plan is planning to fail” Don’t Minimize Culture and Change Management Challenges Confirm cultural differences as part of operational due- diligence Plan communications for all stakeholders to Day 1 +90 Make communications everyone’s responsibility
- 14. Integrate with the End in Mind What is the desired experience for acquired employees on Day 1? - Branding, email addresses, business cards, intranet, etc. What is the desired End State for customers? - Customer service, invoices, packaging, etc. What is the desired End State for other external stakeholders? - E.g. local communities and charities - Suppliers, vendors, contractors Embrace transformation opportunities - People, process, system upgrades - Future proofing Get ahead of critical planning assumptions and desired “end state” for all critical areas of the business
- 15. For Integration Success…Focus Here Integration Success Integration Support Resource Augmentation Systems Integration Communications Leverage the Positives Institutionalize the Approach Integration Strategy C-Level Oversight Resource IMO and critical Functions Properly Don’t underestimate IT workstream challenges and timing Make communication planning a top priority Clarify Strategy & Business Goals Create a Playbook Reward Success
- 16. PANEL DISCUSSION GPMIP Webinar Series February 20th, 2014 Scott Whitaker Founder, Whitaker & Company GPMIP US Partner Michiel van der Heijden Global Finance & Operations Director Mölnlycke Health Care Danny Davis Founder, DD Consulting GPMIP UK Partner Christophe Van Gampelaere Founder, Integrator International GPMIP Belgium Partner Thomas Kessler Founder, Integration Success GPMIP German Partner Stefan Hofmeyer Moderator President, ModalMinds Inc. GPMIP US Partner
- 17. Integration Activities Pre-planning • Setting the Parameters of integration timing, addre ssing core business strategy issues, if necessary, an d securing outside resources Integration Due Diligence • Securing background data on all functional business areas and business activity to inform your integration planning Integration Office Planning • Establishing an IMO to run your integration project Execution • All major integration activities, co mmencing from day one of your integration to end state Wrap-up • Post integration surveys and integration- closing activities
- 18. Pre-Planning • Can you detail how synergies are incorporated in the valuation model?
- 19. Pre-Planning • How are synergy targets derived?
- 20. Pre-Planning • Are there any synergy quick wins that you can find on any integration?
- 21. Pre-Planning • I understand what cost synergies are, but what are growth synergies?
- 22. Pre-Planning • Is there a normal % of cost savings achievable?
- 23. Pre-Planning • What training concepts can be incorporated to make your M&A team more efficient?
- 24. Pre-Planning • At what point is planning started? Who typically takes the first responsibility to act?
- 25. Pre-Planning • What do you consider the top 3 priorities for pre-planning and when should they be completed relative to Day 1?
- 26. Integration Due Diligence • What do I do if we don’t have the resources to deal with a detailed synergy analysis?
- 27. Integration Due Diligence • Are cost and growth synergies both essential to any deal?
- 28. Integration Due Diligence • Who within the business owns the realisation of synergies?
- 29. Integration Due Diligence • How do you handle situations where executive decisions are stalled but needed for planning?
- 30. Integration Office Planning • Communication plans get a lot of attention, but even so what are some of the common mistakes companies make during planning?
- 31. Integration Office Planning • What should be considered when developing a robust framework and methodology?
- 32. Integration Office Planning • What is the optimal reporting structure for an IMO?
- 33. Integration Office Planning • Are dedicated IMO resources typically established or are activities delegated to operational personnel?
- 34. Integration Office Planning • What factors should be considered for cross border transactions?
- 35. Integration Office Planning • What is the typical oversight / reporting frequency to the IMO
- 36. Integration Office Planning • What are some standard best practices for ensuring an issue free Day 1?
- 37. Execution • What can we do if we see that we're failing to realise planned synergies?
- 38. Execution • What is the scope of a synergy template?
- 39. Execution • What sense of urgency should be placed on synergies
- 40. Execution • What are top execution related best practices?
- 41. Execution • How do you balance moving quickly and taking time to ensure the integration is done right? What are related best practices?
- 42. Execution • What audits are performed during M&A integration activities?
- 43. Execution • What are some best practices for integration metrics?
- 44. Wrap-up • At what point should an integration be complete and turned over to operations and general project work?
- 45. Wrap-up • What are some things to watch out for in knowledge transfer?
- 46. Thank You! www.gpmip.com/contact GPMIP Training | Advisory | Integration Execution
Notas del editor
- Everyone involved in the M&A lifecycle can be advocate for sound integration planning
- Everyone involved in the M&A lifecycle can be advocate for sound integration planning
- Everyone involved in the M&A lifecycle can be advocate for sound integration planning
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