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Case Study – Successful integration of Italian Group

An American Private Equity firm had recently acquired an Italian global marine interiors contractor specializing in both the refit and new-build segments. The group also had a strong business in scheduled maintenance and spare parts. Headquartered in Italy with offices in Europe, the US, and Asia and comprised of three recently merged companies, the group is a turnkey solution provider delivering design, engineering, manufacturing, project management and installation, after-sales services, and system upgrades to cruise ship operators and related segments. The group was embarking on a business integration process.

Challenge

The group was facing unprecedented demand for its services. It was therefore critical that processes and systems were robust, effective, and efficient, and those synergies could be realized to enable maximum focus on achieving the business plan targets. The processes and systems also needed to be scalable to accommodate further growth, both organically and in the future through additional M&A activity.

Mission

The PE firm needed to find an interim CFO to support the company in implementing effective financial reporting, planning, and analysis to meet their portfolio requirements and allow improved monitoring and management of the business on a day-to-day basis.

They also decided to engage an interim Head of IT to complete the pre-acquisition due diligence. After that, to develop the team, architecture, and systems required to enable integration of the group, streamline delivery of the existing order book, and position it for international organic and acquisition-based growth.

Success

With the Globalise managers from Italian Duke&Kay driving the operation, cooperating with senior management and the financial advisors already involved in the project, the integration process was completed within the pre-established 6 months timeframe. In the process, certain disparities have been overcome corporate culture, different policies, and management of business processes, poor communication, resistance to change among the workforce, conflict in decision-making processes, as well as other typical organizational obstacles.