A global chemical company was operating with four independent companies in the same geography due to acquisition of two other multinationals and one regional competitor. In order to accelerate growth, improve their go-to-market approach, realize scale synergies and enhance financial performance.
The acquiring corporate needed to unify the four businesses into one common entity, with corporate culture, systems, processes and suppliers.
(1) Establish specific strategic and financial goals for the integration with corporate executives, along with a time phased resource plan and budget.
(2) Organized the resources into functional teams for operations, finance and compliance, HR, supply chain and procurement, communications and IT. Define objectives, budget, synergies, project plan and deliverable timing for each team.
(3) Coach and mentor each team to deliver the results according to their plan.
(4) Report on progress regularly to corporate executives, surfacing issues that risk compromising program objectives timely to receive decisions and assistance.
(1) Realized substantially all integration program objectives within 1 year, faster than expected and well below the original budgeted expense.
(2) Significantly exceeded the original synergy realization plan, leading to record growth and profitability for the business the following year.
(3) Established a robust Communications function within the organization.
- Date: 2017
- Categories: Case Studies