Tag Archiv für Post Merger Integration

M&A Integration: How to Do It

Danny A. Davis ist langjähriger M&A-Berater aus England. In seinem aktuell veröffentlichten Buch widmet er sich der M&A Integration. Als Gastautor im Fredelia-Blog beschreibt er ein typisches Praxisbeispiel aus seiner Erfahrung.

Planning and Delivering for Business Success

The common issues with M&A integration are that people do not start planning early enough and do not have the knowledge, experience or checklist and templates to enable good planning. These are the two big ones. When you don’t have a plan, you don’t know what your doing or when to do it. This leads into the concept of not knowing what, where, when and how to communicate to all stakeholders and thus the issue that people see and speak about, poor communication and lack of cultural understanding. The planning also enables us to move everything faster, thus delivering our synergies, profit and move ourselves through to the new company, entity or strategy as rapidly as possible. Our aim is to deliver value.

A software company delivered four different packages to its customers, it bought another software company with an overlap on two product, then aim being to close down those two products and thus halve the cost. Also having a large customer base would enable them to win more work elsewhere. A good strategy and good deal. However they then did nothing. They had not planned the detail and didn’t put anyone in charge of moving this delivery all forward. The completion went to all the customers and said “your software will be turned off, come to us”. New sales went to zero, new service contracts went to zero and our company was in trouble. We went in three months post deal to sort out the mess, the only solution was to state to all customers, all software will remain in place for the next three years and be supported for as long as you want it to be. Sales instantly went up to pre-deal levels, as did service contracts. All was good again. Except that the deal had not made the additional profit needed. The entire management team was removed by their PE owners over the following six months.

My advice is to plan fully, plan early “plan, plan, plan”. You should use internal people who understand the business and will be left with any issues afterwards, supplement this with people who know what they are talking about interims, consultants, advisors, etc. Be ready well in advance of the deal taking place. Then ramp up resource to deliver through your new strategy, changes and profit improvement programmes – both revenue increase and cost cutting. Plan in detail all your activities and actions from the finance function though IT and into all the people aspects. Then create the communication plans to go along side that. Then look through the division and business lens in the same manner. Check the plans all link together well across all areas and that there are no items that seem strange once we have completed it. Have this all completed pre-deal, so you are ready for Day one communications, management changes and for integration to be mobilise and delivery to start. Then you will need to ramp up project and resource and deliver through all the changes that lead to improved profit or value creation activities.

Sie errreichen Danny A. Davis unter: www.ddavisconsulting.com

Unternehmenskäufer unterschätzen die HR-Integration

Mergers & Acquisitions-Projekte entstehen meist auf dem Papier. Synergien, Marktanteile, Kosteneinsparungen versprechen beschleunigtes Wachstum oder überdurchschnittlichen Ertrag. Doch viel zu oft endet der erfolgreiche Teil der Übernahme mit der Unterschrift unter dem Kaufvertrag.  Integrationsstrategien, die erst den Erfolg einer Post Merger Integration (PMI) und das Erreichen der vorher angestrebten Ziele sichern sollen, werden allzu oft vergessen, oder zumindest vernachlässigt.

Dies zeigt erneut eine Studie* von Steria-Mummert: Kaum die Hälfte aller befragten Unternehmen waren mit der Umsetzung ihrer Übernahme- oder Demerger-Strategien zufrieden. Im Einzelnen bezeichneten z.B. nur 19% die Umsetzung der IT-Integration als „sehr gut“. Während „IT“ aber von 70% der Befragten als sehr wichtig für die Integration angesehen wurde, landete „Personal“ auf dem letzten Platz im Ranking: Der Faktor Mensch scheint weder vor, noch nach einer Übernahme eine größere Rolle zu spielen.

Trotz aller möglichen Patente, Wissensmanagementsysteme  und Kundenkarteien: Das Know-How einer Firma existiert zu 95% in den Köpfen der Mitarbeiter. Wer bei einem Unternehmenskauf diesen Faktor leichtfertig vernachlässigt, riskiert eine vermeidbare Wertevernichtung im großen Stil.

*Der Link zur Studie ist inzwischen leider nicht mehr frei zugänglich.