First thing to know: No two mergers or acquisitions are alike!
Harlowe Holdings, an import wholesale conglomerate with 10 different business units had just acquired its 11th, looking to increase their share of the electronic chip market. The acquisition of Bandor, Inc. and its subsequent move onto the Harlowe campus posed a number of challenges. Champions IFM (CIFM) was contracted to:
a.) Determine the synergy between the Harlowe corporate goals, its electronic chip business unit and the newly acquired Bandor goals to combine any similar business practices, increasing performance and reducing costs.
b.) Implement Change Management Processes and strategies. Because there was some overlap of the processes between Bandor and Harlowe, CIFM needed to employ and utilize coaching strategies related to team building, networking and trust building, as employees on both sides would feel some level of uncertainty in job security.
c.) Having been contracted prior to the public announcement of the acquisition, CIFM had the time to analyze, plan and develop the directives, objectives and strategies to seamlessly transition the two vastly different cultures into one. Education was the key.