M&A

An A&D company was experiencing low growth but had limited M&A options in its core markets. We helped the client articulate and refine a strategy for moving into other areas of the value chain to capture additional value. After assisting with target identification, we worked with the client to understand the potential deal value and strategic fit for each one, and set priorities. The A&D company acquired one of the targets and was able to expand into an adjacent market.

Two large A&D companies with complementary OEM product portfolios and aftermarket services wanted to merge. We created parallel integration teams at both companies and provided support throughout integration planning. In addition to creating a new governance model and management processes, we tracked and monitored value creation, defined the financial baseline, and developed synergy targets for each business unit. Ultimately, the client was able to accelerate synergy capture in multiple categories and achieve value that was much higher than expected.

An A&D company had long undertaken many deals to expand into new markets. Working with the company’s global head of strategy, we adapted the existing M&A processes and increased the focus on value creation. For instance, we created a new method for assessing synergies while supporting the client through the potential acquisition of a multi-billion dollar business. Our activities included describing the potential organizational model, including governance and process management.

A commercial aircraft company wanted to divest a business unit that was highly integrated into the group and received central support for IT, engineering, and many other functions. We helped the client create a new operating model for the business unit that allowed it to function as a standalone entity with its own management accountabilities and reporting lines. The newly independent business was successfully sold to a private-equity company.