Case Study
Cross-border Merger of Equals acquisition creating $350M Education Technology Solutions Leader in North America.
HIG portfolio company CDI (Canada), a leading value-added provider of new and refurbished IT assets, merged with Troxell, a leading education reseller of AV and computer products sold across all 50 states.
Approach
Objectives
Determine best way to organize and GTM as one company.
Facilitate achievement of growth and operational synergies.
Establish trust and collaboration among team members.
Timelines
Pre-Merger Planning Began 3 Weeks Prior to Close
Conducted Post-Merger Integration Execution for 6 months
Governance
Weekly Work Sessions with Integration Teams
Bi-Weekly Progress Reviews with Steering Committee - PE Team and CEO.
Integration Plans
Managed all aspects of post-merger integration.
10 workstreams, 30 cross-functional integration team members,100+ deliverables, 545 activities.
Post-Engagement Activities
After 6 months, transitioned remaining integration tasks to functional leaders as part of the annual operating plan
Lessons learned shared with key stakeholders to support continous improvement
Workstreams
Sales/Sales Operations
Purchasing/Supplier Management
Communications
Product/Service Offerings
Marketing
Systems Integration
Operations Optimization
Organization & HR
IT Infrastructure
Financial Reporting
10
Results
1
Achieved Consolidated Budget which mapped to start and end of post-merger integration project.
2
Exceeded Planned Cost/Revenue Synergies, ~$60M in value. EBITDA impacts driven by cross-selling synergies, purchasing synergies, and operating expense reductions.
3
Drove transformative vendor rationalization and terms improvement which boosted long-term competitiveness. Retained as interim Chief Commercial Officer overseeing Sales, Marketing and Product to further optimize GTM.
4
While each company was culturally very different, the integration planning process was instrumental in unifying employees as one company and delivering results.
5
Integration success and 50% growth within first year fueled follow-on acquisition. Became the #1 EdTech specialty reseller with Sales of nearly $700M.
