Project Description
Challenge
A large global insurer devised a strategy to expand services to its large banking clients, acquiring smaller companies to fill gaps in the mortgage services value chain:
- Following troubled first integration, company made three additional acquisitions to complete first phase of expansion strategy
- Multiple business units were targeted for overlapping integration during 3 year period
- Governance existed at senior levels, but was not scalable across multiple acquisitions
- No Integration Playbook existed to provide a repeatable processes
- Employees were stretched thin and had little experience with M&A acquisitions
Solution
MCG worked in partnership to deliver the following solutions across all business units:
- Managed Integration Management Office (IMO) providing Program Management, Governance and Change Management to meet integration objectives across levels
- Created detailed Integration Playbook based on M&A best practices
- Created Integration Roadmap across 8 functional teams, identifying key dependencies
- Tracked risks/issues, ensuring effective mitigation strategies were created and executed
- Built online collaboration tools to provide scalable, repeatable processes
- Provided coaching and basic training for employees lacking prior M&A experience
Project Details
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Business Value
- Allowed business leaders to focus on growing top line by assuming responsibilities for day-to-day integration planning, execution and reporting
- Integrated brands and sales teams to facilitate early cross-selling of services
- Integrated back office functions (people, process and systems) to realize deal synergies
- Met all regulatory and compliance needs of acquiring and acquired companies, reducing financial and reputational risk to parent
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