- Nationwide – Integration planning for two building societies, covering actions required to integrate retail and contact centres and deliver related merger benefits, while insulating customers from impacts
- Netia/Tele2 –Assessed customer operations of alternative Telcos with radically different operating models, to develop single operating model to deliver acquisition benefits
- Private equity, acquisition of market researcher –Assessed separation plans from parent, and cost reduction plans based on technology and outsourcing
- TDF/Antenna Hungaria – Developed detailed plan to help TDF take control of AH, realign its strategy to an infrastructure focus and deliver cost savings. Led management team to agree integration objectives
- European Cable TV Altnet –Synergy planning across sales, marketing and networks in preparation for final binding offer for other competing Altnet delivering Pay TV, MVNO and fixed telecoms services.
- Innovation – Acquisition planning for a publicly quoted client to enable it to acquire, under Class 1 procedures, a loss making business and plan delivery of synergies required to turn it around
- Key player in the music industry – Reviewed previous restructuring actions and a plan to reduce costs, analysing cost base, identifying major risks to base case plan and some upsides
- Mach–Synergy planning to support financing of acquisition and integration of a mobile billing intermediary business
- PE House/Towers Business – Assessed synergy to raise £250m of finance, covering integration of field operations, procurement, and investment programmes
- Towers Business –Post acquisition merger planning under onerous ‘Hold Separate’ conditions, helping to control a high level of business risk, putting in place a ‘ready to go’ integration programme
- PE House, owner of media service business –Advice and challenge on ‘low-balled’ synergies. Helped PE House obtain commitment from top management to higher and more reasonable synergy projections
- Datatec – Operational Due Diligence. Identified key issues on acquisition of distressed US network integrator for group building worldwide service delivery footprint
- Datatec – Analysed similarities and differences in two acquisitions with a high degree of overlap, but some unique elements. Proposed new structures and a carve out/integration roadmap
- Macquarie – Assessed vendor preparations for the separation of Airwave from O2, assessing issues, e.g. impact on contracts, and standalone costs, and developed separation roadmap for acquiring PE house
- Financial Trading Business – Advice on people, transaction and valuation issues created in carving out and moving a business within a complex corporate structure, including General Partnership, LLP and PLC entities
- Macquarie – Diligence for Arqiva refinance – Assessed execution risk on a massive contract with large failure penalties and assumptions underlying a £1b Capexplan
- Developing Integration programmes and supporting governance
- Developed a programme to enable an acquisition to be fully aligned to the new parent’s strategy
TDF & Antenna Hungaria
A 100 day plan to manage risk and mobilise for change
Antenna Hungaria (AH), formerly owned by the Hungarian state, was sold on privatisation to Swisscom, who viewed its tower infrastructure, existing broadcasting portfolio and positioning on DVB-T as a valuable opportunity to create two consumer businesses in Pay TV and Telecoms. After a change of strategy, Swisscom sold AH to TDF, the European Towers business. TDF needed assistance in developing a plan to help it take control of its largest ever acquisition and align AH to a strategy focussed on infrastructure – not consumer – business plays.
A plan was needed to enable control to be taken of AH and for deal benefits to be delivered, ready for the Chairman of TDF to present to AH people on completion day. We carried out an initial scoping phase, interviewing board sponsors, key players in the acquisition and AH management to assess the work required and risks that needed to be controlled. The scoping phase recommended a workstream structure to cover the issues, risks and opportunities.
Following the scoping phase, output from diligence, acquisition business cases and the scoping exercise was used in workshops to develop detailed, specific objectives for the programme. Reporting to an Integration Steering committee, David’s team worked closely with management, providing advice and challenge in meetings and workshops, to develop seven major workstreams with around 100 project initiatives to meet these objectives, including controlling key risks and delivering value. Our challenge ensured that this scope was supported by well planned projects, and in key areas such as regulation, delivered important actions pre-completion to address potential high impact risks.
The project enabled, before completion, TDF management to see the AH team in action, taking important steps to start the process of alignment. On completion, ‘new ownership’ was successfully launched and underpinned by a 100 day plan and mobilised teams to deliver it.
