M&A – Integrating & Separating operations

Assessing projections and their upsides and downsides. Identifying risks and the required controls and mitigations, and embedding them into integration plans

Building societies merger 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 .
Polish telecoms merger Assessed customer operations of alternative Telcos with radically different operating models, to develop single operating model to deliver acquisition benefits .
Mobile billing intermediaries merger Synergy planning to support financing of acquisition and integration of a mobile billing intermediary business.
Integration of European Antenna business 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 .
PE House/Towers Businesses merger Assessed synergy to raise £250m of finance, covering integration of field operations, procurement, and investment programmes .
Australian Bank Diligence for refinance Assessed execution risk on a massive contract with large failure penalties and assumptions underlying a £1b Capex plan.
Towers Business merger 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.
Insurance outsourcing business 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 .
Private equity, acquisition of market researcher Assessed separation plans from parent, and cost reduction plans based on technology and outsourcing .
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.
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 .
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 .
Systems integrator Operational Due Diligence. Identified key issues on acquisition of distressed US network integrator for group building worldwide service delivery footprint .
Systems integrator 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.
Australian Bank 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.