Before DLC
- Limited resources, visibility and expertise
- Lengthy financial close process (10 days)
- Difficulties navigating an upcoming merger
Case Study
Manufacturing Company Drives M&A Success, Quickens Financial Close via Financial Process Stabilization & Standardization
After DLC
- More insight into and control over important financial information
- A faster financial close process (4 days)
- Successful & streamlined transition to parent company
Overview
The client – an $8.6B international leading manufacturer and solutions provider for medium, heavy and severe service truck segments – engaged with DLC to support a merger and acquisition with a German truck holding company that would better allow the client to meet the growing requirements of the market and improve its customer offering.
Business Challenge
Due to a lack of available resources, visibility and project management expertise for acquisitions, the client required a team of consultants who could successfully project manage the accounting integration.
Approach
After partnering with leadership to gather intel on the current business operation complexities for both companies and get aligned on expectations and needs for the post-merger tasks, DLC consultants worked to create a structured project management team, act as a key liaison between both companies, and implement change management programs to establish a trusted working relationship across all functional areas.
In addition, the DLC team implemented reporting tools to measure progress and mitigate risk and converted the client’s year-end to coincide with their acquirer’s year-end.
Results
DLC’s efforts resulted in a successful merger and transition of the company’s operations and processes. By strategizing the overall project plan and PMO approach, DLC provided the client with valuable support and tools necessary for a successful and smooth transition.
After engaging DLC, the client accelerated their close process from 10 days to 4.
