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Financial Services

Weighing the risk of carving out risk & insurance co.​

Context

Investors at a top middle-market PE firm were carving-out 13 warranty and specialty risk businesses from a large insurance company to form a standalone platform, with plans to accelerate growth through additional acquisitions. As the transaction evolved into the integration of 17 separate organizations, the sponsor required support to accurately assess deal economics, separate the business from its former parent, and transform a collection of independent entities into a single operating company.​

Value Created

$100M in deal savings​
from due diligence​
$300M in enterprise value created​
95% of TSAs exited​
by FCM project close​

People

VALUE LEVERS

  1. Organizational redesign and leadership enablement​
  2. Talent integration and engagement

HOW WE DID IT

  • Implemented a streamlined organizational design and supported interim and permanent leadership transitions, reducing payroll costs by 15% while improving decision making and service levels​
  • Integrated teams across 17 entities and supported the company’s first employee engagement survey to build alignment and cohesion in the new operating model

Process

VALUE LEVERS

  1. Centralized operating model​
  2. Separation and integration governance

HOW WE DID IT

  • Converted the business from a holding company of separate entities into an operating company with centralized functional services to increase agility and profitability​
  • Established transition governance and led TSA exit and integration activities to ensure on-time separation, eliminate seller dependency, and support rapid scalability

Technology

VALUE LEVERS

  1. Core systems implementation​
  2. IT infrastructure consolidation

HOW WE DID IT

  • Selected and implemented new financial and HR information systems within seven months to support standalone operations and future growth​
  • Built a shared services IT organization and converted all offices to a unified infrastructure (network, devices, email, and telephony) within nine months to enable efficient integration