Key Pillars of the Framework
- Integration Vision and Strategy
- Integration Guiding Principles
- Integration Objectives
- Integration Process
- Integration Phases
- Integration Team Structure
- Issue Resolution Strategy
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Integration Vision and Strategy
Vision: Integrate the two companies in an aggressive time frame that allows the companies to quickly realize the synergies and maximize shareholder value
Strategy: Under the direction of the Steering Committee, an Integration Management Office (IMO) will be established to manage and implement multiple concurrent integration work streams focused on:
- Achieving synergy targets through good execution and tight financial control
- Consistent and candid communication
- Prompt issue escalation and resolution
- Continuing business operations without disruption
- Reporting progress in a consistent manner at appropriate levels of detail for all stakeholders
- Engaging resources early and often to collaborate on the effort
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Integration Guiding Principles
Customers First
- We must take actions that prove to our end customers, consulting engineers, and reps that they are important to our success as a combined firm.
Respect for People
- We must treat each other with respect and integrity and be honest in our communications with each other and our employees.
Speed to Value
- We must execute quickly to ensure the theoretical value and synergies we see in the combination are translated to real and measurable business results.
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Integration Objectives
- Provide forum for clear decision making and risk management
- Logically structure the work so that accountabilities are clear even though the organization is not yet fully defined
- Facilitate rapid yet thoughtful planning for the achievement of synergies
- Enable efficient communications and coordination among teams, functions, and business processes
- Facilitate a rapid integration that starts immediately upon transaction close
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Integration Process
- Integration teams have been identified that map to the key value drivers of the deal and functional areas. These teams will develop plans for a new, combined operating model and plans to transition to that model.
- Initial integration activities focus on completing discovery and defining the high-level operating model for the new firm.
- Implementation of the plans (and the realization of synergy objectives) will be carried out post-close by the new organization.
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Integration Phases
We envision a four-phased integration approach to complete the transition to the combined company:
- Pre-Plan (announcement through kickoff)
- Define the High-level plan (kickoff through January 15)
- Define the Detail Plan (complete prior to close)
- Implement the Plan (post-close)
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Integration Team Structure
- Steering Committee
- Integration Management Office
- Functional Team Leaders
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Issue Resolution Strategy
- Standard issues & risks sheets will be used in each work stream
- IMO will flag unresolved high-priority issues and escalate them to the Steering Committee
- Major high-priority or critical issues will be decided upon by Steering Committee