Page 42 - SONEPAR 2021 - AcquisitionBook

7
PHASE 7: INTEGRATION & FOLLOW-UP
Integrate the company
The integration shall be prepared in parallel to the acquisition process, by building the integration planning. Integration will effectively start after CLOSING.
This phase is key to ensure the realization of planned synergies and return on investment for SONEPAR.
7.1 INTEGRATE THE COMPANY 7.1.1 DETERMINE AN INTEGRATION PLAN
During the acquisition process and before DUE DILIGENCE, the purchaser needs to start preparing the integration plan through:
➜ building a high-level vision of the integration strategy and roadmap:
• which areas will be integrated or kept separate and for how long?
• analysis of the costs (one-off and recurring), benefits, timing and risks of the process,
• clear accountability for potential synergies’ delivery;
➜ defining governance of the integration and identifying resources:
• Integration Leader and Key Managers involved from both sides,
7.1.2
DESIGNATE AN INTEGRATION LEADER
• decision making process (to have the flexibility to make corrections to the initial plan),
• how the teams will be organized: steering committees, weekly meetings...
➜ preparing Day 1 priorities:
• •
• •
business continuity,
communication strategy (external and internal) and timing definition in coordination with GROUP Communications team,
secure financing (reimbursement of bank loans, integration into country cash pooling, etc.),
IT integration, a priority for some acquisitions or a mid/long- term objective for others.
An Integration Leader within SONEPAR shall be designated early on and presented to the INVESTMENT COMMITTEE. He/she will be responsible for:
➜ coordinating and centralizing all requests from the HQ, the region and the country to the new business;
➜ sharing a roadmap of the integration process with the new business (ranked by tasks with completion date objectives);
➜ building the operational integration.
The Integration Leader shall apply the GROUP requirements (Appendix 17) considering the available resources. He/she shall create a dashboard with defined actions and milestones, share it with the acquired company’s management, and update it on a regular basis.
Meetings shall be organized regularly with relevant experts (finance, tax, legal, risk and compliance, IT, purchase, sales and marketing, logistics and human resources).
40 SONEPAR - ACQUISITION MANUAL - 2021 - FOR INTERNAL USE ONLY
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