06.16.16

Process Improvement and Day 1 Readiness for a Paper Manufacturer

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Business Issue

A prominent private equity firm engaged Riveron to assist with a roll-up acquisition of a public company’s carved-out entity into an existing portfolio company. The Target included five US and Canada based plants with revenue of $250MM. Given a much smaller size of the portfolio company, the deal was transformational in nature.

The project’s scope included the development of current state assessment of Order-to-Cash, Procure-to-Pay, Record-to-Report, and other key processes, future state operating model, organizational design, transition service agreements (TSA), Day 1 readiness and post-Close performance improvement planning.

Riveron Approach

The Riveron team was engaged seven weeks prior to deal close to conduct extensive stakeholder and business process owner interviews. The resulting assessment provided the client with an understanding of business drivers, process workflow, systems, dependencies, and organizational resource requirements. Then, Riveron conducted analyses to develop Day 1 readiness plan, inclusive of a phased communication plan, process training, and organizational design and staffing recommendations.

Leading up to Day 1, the team support TSA and defining resource perimeter negotiations. Riveron also identified and guided the client through the resolution of key business gaps related to cash management, payroll, and financial reporting. Furthermore, the team provided the client with a TSA roll-off plan and near-term performance improvement opportunities to help accelerate and effectively remove dependencies on third-party services and improve cost structure.

Benefit to our Client

The detailed assessment of Target’s capabilities and dependence on corporate services, enabled the client to clearly understand the gaps, plan, and execute for Day 1 and prepare for long-term. The operational success of seamless acquisition also hinged on effective communication and training activities that Riveron facilitated. As the integration moved beyond Day 1, the client began to benefit from executing on TSA roll-off and short-term performance improvement recommendations Riveron proposed.

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