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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.
![Develop and Execute Post-Merger Integration Plans](https://static.wixstatic.com/media/11062b_80554666e54047e598058ed4ddeb6857~mv2.jpeg/v1/fill/w_147,h_57,al_c,q_80,usm_0.66_1.00_0.01,blur_2,enc_auto/Team%20Meeting.jpeg)
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 Started: June 26, 2019
Merger Announcement (Day 1): July 18, 2019
Governance
Weekly Work Sessions with Integration Teams
Bi-Weekly Progress Reviews with Steering Committee - PE Team and CEO.
Post-Engagement Activities
After 6 months, set-up strategic planning framework to fold-in remaining integration tasks to annual plan.
Integration Plans
Managed all aspects of post-merger integration.
10 workstreams, 30 cross-functional integration team members,100+ deliverables, 545 activities.
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Sales/Sales Operations
Purchasing/Supplier Management
Communications
Product/Service Offerings
Marketing
Systems Integration
Operations Optimization
Organization & HR
IT Infrastructure
Financial Reporting
10
Workstreams
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Results
Achieved 2nd Half FY 2019 Consolidated Budget which mapped to start and end of Integration project.
1
Exceeded Planned Cost/Revenue Synergies, ~$60M in value. EBITDA impacts driven by cross-selling synergies, purchasing synergies, and operating expense reductions.
2
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.
3
While each company was culturally very different, the integration planning process was instrumental in unifying employees as one company and delivering results.
4
Integration success and 50% growth in 2020 fueled acquisition of Tierney Brothers in 2021. Now #1 EdTech reseller in world with Sales of nearly $700M.
5
![Office](https://static.wixstatic.com/media/11062b_b97885bfba7144b0a367a7d41bc4b8b5~mv2.jpg/v1/fill/w_100,h_67,al_c,q_80,usm_0.66_1.00_0.01,blur_3,enc_auto/11062b_b97885bfba7144b0a367a7d41bc4b8b5~mv2.jpg)