Steve Sapletal is a Merger Integration Leader with over 22 years of experience. He is currently a partner at KPMG where he overseas M&A integration strategy, planning, and execution. In this episode, he discusses with Todd some of the key factors on why a company should bring in an integration team, as well as some of the key mistakes companies make after an acquisition. Transitions are a stressful time for everyone, especially the employees, which is why companies tend to see a drop in productivity when a M&A transaction has been announced. Find out more on how you can ease the transition for everyone on this edition of the podcast.
Key Takeaways:
[1:00] Who is Steve Sapletal?
[3:25] If you're looking for help after you've signed the letter of intent (LOI) it's too late!
[7:25] If you're buying this company, what are you really buying it for? You want to define what the deal drivers are early on.
[10:00] Employees want to know what's going on. It's better to be honest with them than to hide it.
[10:35] Once the announcement has been made, expect productivity to go down by 20-30%.
[11:35] How many people should be in charge of the communication strategy?
[13:50] You want to have a 30-day detailed plan, but be prepared that things will change.
[16:05] After a deal has been closed, Steve and his team do twice a day check-ins for the first 7 days.
[16:50] You want to course-correct as quickly as possible.
[17:45] What is the average amount of time it takes for a company to fully integrate?
[20:35] Steve talks about the different types of integration companies and what they offer.
[25:05] What should a business owner look for in an integration company?
[27:45] Steve talks about some of the common mistakes that can happen.
[32:50] So many people forget about company culture. It's usually grouped under HR, but Steve thinks this is a mistake.
[37:15] A lot of companies will take the wrong people and give them integration responsibilities. If you don't have the right person, you need to hire them.
Mentioned in This Episode:
