In this episode, J. Neely, a Partner at Strategy&, explores the private equity industry in light of Carlyle Group's recent IPO announcement. He discusses a number of topics including whether the Carlyle announcement is indicative of any kind of fundamental change in the private equity industry, major challenges faced by private equity firms today, and what may be in store as a next act for private equity. His discussion is based in part on the recent strategy+business article "The next...

In this episode, Gerald Adoph, Senior Partner and leader of Strategy&'s mergers and restructuring Group, interviews Kelley Mavros, a Strategy& Partner based in Chicago, on the topic of lean. The two discuss a client engagement in which lean was used in the post-merger integration of two global financial services operations. This is one of the first times lean has been used this way in the financial services industry. Note: This podcast was originally published by Booz & Company in...

In this final episode of our 3-part series, J. Neely, a Partner at Strategy&, builds on the concept that coherence is the new scale in M&A by exploring transactions where this was achieved. He analyzes four specific consumer products deals driven by the concept of coherence, including well-known transactions such as Wrigley/Mars, to understand how each was successful and what lessons they might provide for the future. Note: This podcast was originally published by Booz & Company...

In this episode, Paul Leinwand, a Strategy& Senior Partner and author, interviews Gerry Adolph, Senior Partner and leader of the firm's mergers and restructuring group, about the value of taking a capabilities driven approach to the M&A space. Leinwand is co-author of the book The essential advantage: How to win with a capabilities-driven strategy. The two take on a number of important topics, including the popular concept of mergers driven by the idea of becoming too big to...

In this second episode of a 3-part series, J. Neely, a Partner at Strategy&, discusses the trap of thinking that scale alone guarantees success in the consumer goods space. He explores topics including the idea that coherence is really the new scale in consumer goods, how companies are competing around capabilities today, and the extent to which organizations are gravitating away from scale alone in selecting M&A targets. Note: This podcast was originally published by Booz &...

In this first episode of a three part series, J. Neely, a Partner at Strategy&, explores the importance of developing coherence-driven M&A strategies, beginning with how coherence creates better performing organizations. He addresses topics including: what companies must do to develop a coherent approach to their portfolios, how transactions can further a coherence strategy, and exactly how companies should design or tune their M&A efforts to maximize coherence. Note: This podcast...

In this episode, Gerry Adolph, a Senior Partner at Strategy& and leader of the firm's mergers and restructuring group, shares his insights on what boards of directors need to keep in mind as the M&A environment continues to heat up. He addresses topics including the biggest risks for boards in looking at prospective transactions, how directors should assess different types of deals, what boards should consider when a suitor comes knocking, and how to deal with hostile...

In this episode, Gerry Adolph, a Senior Partner at Strategy& and leader of the firm's mergers and restructuring group, sits down to interview Edward Tse, author of the book: The China Strategy. They speak about the book, which describes how to build the capabilities that business leaders need for operating an integrated China-global strategy, with a particular focus on M&A. Note: This podcast was originally published by Booz & Company in 2010.

In this episode, Tom Flaherty, a Senior Partner at Strategy&, discusses the concept of velocity and impatience as it impacts the deal environment. He approaches this topic, which is described in the book "Merge ahead: Mastering the five enduring trends of artful M&A" by Gerald Adolph and Justin Pettit, by exploring: whether the pace of business has become too fast; the reason deals are closing more quickly today and its implications for merger integration; and the need for...

Gerald Adolph, a Senior Partner at Strategy& and leader of the firm's mergers and restructuring group, discusses the concept of merganic growth, which is described in his new book with co-author Justin Pettit titled "Merge ahead: Mastering the five enduring trends of artful M&A" (McGraw Hill, June 2009). Topics include: the extent to which a merganic growth plan is a necessity today, the biggest mistakes to avoid in adopting merganic growth, and building the skills necessary to be a...

Ivan de Sousa, a Senior Partner at Strategy& in Brazil, discusses the key mistakes to avoid in financial sector M&A, specifically focusing on the post-merger integration (PMI) phase. Ivan focuses on mistakes made in three critical areas: planning, execution and result tracking, and governance and integration structure. Note: This podcast was originally published by Booz & Company in 2009.

Gerald Adolph, Senior Partner of Strategy& and leader of the firm's mergers and restructuring group, discusses the importance of integration planning that incorporates both the first 100 days and the merged organization's longer-term strategic goals. He explores three areas where this type of planning is most important and analyzes the impact of the current economic environment on planning. Note: This podcast was originally published by Booz & Company in 2008.

J Neely, Partner at Strategy&, explains why divestitures in today's environment are much harder than they appear, potentially impacting not only the divested entity but the seller itself. Booz Allen has identified seven key hurdles to successful divestitures and J discusses several of them in detail during the interview. Originally published as: Seven reasons divestitures are harder than you think, Booz Allen Hamilton, 2007.

Tom Flaherty, Senior Partner at Strategy&, discusses the challenges facing merging utilities in the regulatory approval process. Success in this area requires tough negotiation supported by innovative proposals to ensure that both shareholders and customers are treated equitably. Originally published as: Value in the balance, Booz Allen Hamilton, 2007.

Gerald Adolph, Senior Partner at Strategy& and leader of the firm's global merger and restructuring practice, discusses the 10 merger imperatives as a framework for planning a merger and keeping it on track. The use of these imperatives allows the process to be broken down into a set of manageable components. Originally published as: The 10 merger imperatives, Booz Allen Hamilton, 2006.

Simon Gillies discusses the importance of strategic due diligence in the merger process. Strategic due diligence is a third, critical component of the due diligence process, going beyond the traditional legal and financial reviews. It explores whether the potential of a transaction is realistic - or not. Originally published as: Strategic due diligence in the merger process, Booz Allen Hamilton, 2006.

Tom Casey, Partner of Strategy& specializing in information technology, discusses the importance of IT integration to merger success. He explains why senior management tends to approach IT integration in a perfunctory, arms-length manner and makes some suggestions for avoiding major IT integration mistakes. Originally published as: The importance of IT integration to merger success, Booz Allen Hamilton, 2006.

Gerald Adolph, Senior Partner of Strategy& and leader of the firm's global merger and restructuring practice, describes the importance of merger communications to successful transactions. He provides some valuable, practical advice about just how to set up and administer such a merger communications program. Originally published as: The importance of merger communications to successful transactions, Booz Allen Hamilton, 2006.