Jeffrey P. Pritchett - The Merger & Acquisition Leaders Playbook: A Practical Guide to Integrating Organizations, Executing Strategy, and Driving New Growth after M&A or Private Equity Deals

1. Chapter 11
2. Chapter 17
3. Chapter 20
4. Chapter 24
5. Chapter 25
6. Chapter 26

1. Executive Summary
2. Chapter 1
3. Chapter 2
4. Chapter 3
5. Chapter 9
6. Chapter 16
7. Chapter 17
8. Chapter 19
9. Chapter 20
10. Chapter 24

GEORGE B. BRADT

JEFFREY P. PRITCHETT

Copyright 2022 by George Bradt and Jeffrey Pritchett. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data

Names: Bradt, George B., author. | Pritchett, Jeffrey, author.

Title: The merger & acquisition leaders playbook : a practical guide to integrating organizations, executing strategy, and driving new growth after M&A or private equity deals / George B. Bradt, Jeffrey Pritchett.

Other titles: Merger and acquisition leaders playbook

Description: Hoboken, New Jersey : John Wiley & Sons, Inc., [2022] | Includes index.

Identifiers: LCCN 2022019976 (print) | LCCN 2022019977 (ebook) | ISBN 9781119899846 (cloth) | ISBN 9781119899877 (adobe pdf) | ISBN 9781119899860 (epub)

Subjects: LCSH: Consolidation and merger of corporations.

Classification: LCC HG4028.M4 .B68 2022 (print) | LCC HG4028.M4 (ebook) | DDC 658.1/62dc23/eng/20220603

LC record available at https://lccn.loc.gov/2022019976

LC ebook record available at https://lccn.loc.gov/2022019977

Cover Design: Wiley

The number of people who have had an impact on this book is enormous. It ranges from those like Wiley's Richard Narramore, who had the idea for the book and invited us to bring his idea to life, to all those who taught us lessons throughout our careers.

Somewhere in that continuum fall all of George's partners, colleagues, allies, supporters, and clients at PrimeGenesis and Jeff's colleagues, allies, and supporters at Cerberus Capital Management L.P. and its portfolio companies, as well as all those involved with CEO Connection in any way.

We're grateful to the editing teams at Wiley and Forbes who have sharpened our thinking through the years, all the guest contributors, and friends and family members who support us in their own ways.

Jeffrey P. Pritchett:

To the countless mentors, family members and friends who have pushed, supported, advised, guided, and cheered for me throughout my life and careerthank you.

To my parents, Dr. Judy and Mr. Terry Pritchett who have been and continue to be my closest advisors and biggest supporters, Im forever grateful for all you have done, and continue to do, for me and our family. To the Chambers family: my sister Jennifer, brother-in-law Dennis, nieces Alyssa and Addison, for our tight, enduring and ever-strengthening bond.

To Chan Galbato, my friend and mentor who has been and continues to be instrumental in my personal and professional development.

To my dear friends, George and Meg Bradt for everything we have done and will do together.

I would not be at this point without all of your influences.

Those leading through a merger, acquisition, or the like do so to create more value faster. They look for revenues to double or more on the way to returning many times their initial investments. Maybe you're driving or leading the investment. Maybe you're leading the business itself or playing a supporting role. In any case, you need a leadership playbook for the merger or acquisition.

This is that playbook, the one we've used as investors, leaders, and supporters. It gives you the frameworks, tools, and sub-playbooks you need to create that value faster. Our overarching approach is to work through customers, capabilities, and costsin that order. First, figure out how you're going to win with customers. Then build the leadership, team, and capabilities required for that. Fund those efforts by cutting less valuable efforts and their associated costs.

This is how we've created value faster against a backdrop of others failing to deliver the desired results 83 percent of the time. In a Harvard Business Review article, Kenny Graham noted that between 70 and 90 percent of acquisitions fail.

This book lays out the seven sub-playbooks and a prototypical order that comprise the M&A leader's complete playbook. We also include summaries of tools to help along the way, each of which has an editable download available at www.primegenesis.com/tools.

The seven sub-playbooks are:

1. The Strategic Playbook
2. The Commercial Playbook
3. The Operational Playbook
4. The Financial Playbook
5. The Governance Playbook
6. The Organizational Playbook
7. The Change Management Playbook

As this is inherently a non-linear process, parts of each of these playbooks need to be deployed at different times in different mergers or acquisitions. With that in mind, adapt this prototypical order for your particular situation.