Interview with Dr. Kate Santos
Acting Head of North America of Global Horticulture Firm
In the world of high-growth global markets, M&A activity is a commonplace occurrence. With each transaction, however, there are unique challenges, opportunities and optics that need to be addressed – both externally and internally – during the announcement and post-acquisition integration phases. Doing so successfully requires more than a cookie-cutter approach.
When a PE-backed, EU-based global horticulture company decided to vertically integrate in North America by acquiring a US sales and distribution operation, they needed to secure the services of a consulting group to facilitate the transaction and smooth the blending of the two organizations across continents. What set this acquisition apart from “traditional” M&A activities, however, is that the lion’s share of the company’s sales volume came from a diverse set of brokers, so they needed to come together in a way that preserved relationships with other brokers and ensured that the integration process maintained the independence and integrity of both parties.
“This acquisition would deliver an incredible opportunity for us to grow and diversify our business, but we really had to take a nuanced approach to making it happen,” said Dr. Kate Santos, then the acting head of North America for the acquiring company. “We looked at several consulting firms, including all the large-scale ‘usual suspects’ you would expect, but we ultimately decided to work with Amira elAdawi.”
“The other consultants we evaluated wanted to fit our very unique circumstance into one of their existing methodologies. It very much felt like they were trying to force a square peg into a round hole,” stated Dr. Santos. “Having led a number of integrations with companies that acquired smaller organizations and had to integrate them while retaining some independent aspects, Amira naturally understood the dualism of cultures and business objectives.”
“After speaking to Amira and realizing the value she can bring to the table, we decided to ask her to start helping us before executing on the acquisition,” Dr. Santos said. They wanted to benefit from her experience on how to best announce the acquisition to the market in a way that gives other brokers comfort that this will not change their relationship. The company also wanted to introduce the acquisition to both internal organizations in a way that created excitement about the future as opposed to trepidation and concern.
“Having Amira literally down the hall through this entire process was great,” said Dr. Santos. “Unlike most consultants who dictate from afar and take only a surface-level interest in our unique sector, Amira was physically present, and really immersed herself in learning our business and the industry at large. She was highly interested in our immediate and long-term objectives, the players in the space who could impact those objectives, the intricacies of how we specifically operate, and how we could plot the best path forward to achieve our goals. Her dedication was extreme.”
One of the most notable manifestations of Amira’s dedication was the level of granularity and specificity she implemented within the business. Dr. Santos cited Amira’s ability to add value across multiple functions and topics – covering everything from HR and personnel to sales and marketing driving distinct outcomes that culminated in achieving the company’s overarching goals.
“Amira defined and created 13 distinct workstreams within the busines,” stated Dr. Santos. “These workstreams were based on a multi-day workshop she facilitated that brought together key stakeholders on both sides of the acquisition, where we defined milestones and market potential, as well as identified potential areas of concern that needed to be addressed. This helped to open the line of communication between all parties and created partnerships and a working dynamic that kept everything moving forward at the right pace.”
The company was able to acquire the brokerage function and, in time, effectively double the size of their organization. Through the transaction they gained an entire sales force, a function the company previously did not retain, and did so in such a way that maintained the positive and productive relationship it had with its existing portfolio of brokers. Most importantly, all of this was accomplished within the original scope and timeline as defined at the onset of the project.
Dr. Santos took the reins of the project once Amira’s engagement with the business drew to a close, and she cites the groundwork Amira created as a foundational element of their success. Unlike other consulting firms that thrive on having you depend on them long-term; Amira’s approach is aimed squarely at creating agility, analysis and, above all, independence. “She delivered a sense of clarity surrounding the integration, created a framework for us to follow that ensures everything is covered, and ultimately left us in a highly sustainable position going forward,” added Dr. Santos.
“Amira was given a daunting task that came with extremely high visibility, including the board of directors and our PE shareholders,” concluded Dr. Santos. “This was a high-stakes project for us, and all eyes were on Amira, but she did an amazing job which yielded equally amazing results. This was one of the most organized integrations I’ve seen and, simply stated, the merger wouldn’t have been as successful if we hadn’t selected Amira to help us.”