Ensuring Successful Integration Management
The Situation
A leading appliance rental provider – to residential and commercial customers nationwide – was looking to achieve geographic expansion and scale through acquisition. With an investment thesis focused on realizing growth and cost synergies in order for the deal to be accretive in year 1, ensuring flawless and timely integration of the targeted acquisition was needed.
Services
Merger Integration Planning & Execution
Project Management Oversight
100 Day Planning
The Execution
Accordion ran the overall integration management office (“IMO”), working with functional leads and key support staff across the organization to drive the integration of the newly acquired business. IMO functional management included: Commercial, Operations, Customer Experience, BD, HR, Finance, IT, Communications, Insurance and Administration.
As the IMO, we provided functional leads with the deal rationale, and reported against key integration initiatives to measure the success of the integration. Leveraging dashboards developed by the IMO in conjunction with the Functional leads we identified tasks critical to achieving integration goals, along with KPls for tracking purposes. Teams were able to visualize and report on their progress and course correct when and where needed.
Integration leadership was a critical component of success, and required alignment and resolution between parties at all times. Full understanding of the interdependencies and thoughtful planning through regular meeting cadences and constant communication played a key role in limiting unexpected roadblocks.
The Results
Working shoulder-to-shoulder with functional leads, Accordion was able to instill the deal rationale into the company’s integration approach, achieving a successful “Day 1” cut-over and ensuring seamless continuity of the business.
With the newly combined business achieving a stable environment, Accordion outlined key near term activities for the business to execute upon in order to further optimize processes across the business as they began to roll off their TSAs (which Accordion was instrumental in developing).