Virtas Partners was engaged by a global manufacturing and distribution company focused on building controls and automation solutions (market cap over $30 billion) to stand up and lead its Integration Management Office as the company executes a multi-year, multi-acquisition program.
Client Background
Our publicly traded client needed an integration expert to execute its multi-year acquisition growth strategy at one of its business units. The company was seeking a trusted business partner to roll out a suite of tested, repeatable integration strategies across multiple acquisitions (both pre-and post-transaction close) to ensure the acquisitions delivered full value to the company, including synergies throughout the enterprise while maintaining business continuity during the transition. Virtas was engaged to build out and lead the Integration Management Office (“IMO”) as well as execute functional integration roles for each of the acquisitions.
Scope of Services
- Developed integration program thesis, structure, governance, and cadence for multi-acquisition program
- Developed Day 1 roadmap for all transactions, establishing key changes for all stakeholders (e.g., systems, payroll, benefits, infrastructure, etc.)
- Implemented business and functional teams, KPIs for integration, cost estimates, accountability structure, and incentive program for the integration team
- Implemented cloud-based solution (“Compass” by Virtas) to enable team to continuously monitor integration progress and synergy capture
- Drove overall governance strategy, communication plans, and closely tracked performance utilizing customizable playbook across transactions
- Performed ongoing pre-and-post close activities through key planning, execution, and mobilization of overall integration program
Significant Milestones
- Developed and rolled out robust integration program platform utilizing proven processes and tools, including governance, teams, workshops, functional playbooks, project pulses, and broader steering committees
- Developed a comprehensive Day 1 strategy through stakeholder readiness planning (focused on customers, employees, and suppliers)
- Identified sources of long-term value for the company through detailed revenue and cost synergies across legacy and target operations
- Performed due diligence in parallel to integration planning by assessing financial viability of acquisition targets through quality of earnings analyses
Value to Client
- Structured approach to integration program management with balance of accountability, collaboration, and performance management
- Productivity enabled by Virtas’ “Compass” cloud-based solution for real-time workplans, synergies, and dashboards
- Experienced integration resources to supplement client’s team to create a customized approach based on the size and complexity of each transaction