How to Lead a Values-Based Professional Services Firm

8Mergers and Acquisitions

“Typically, communication is what makes [a merger] work. The best approach is to just get everyone on one page and communicate the best you can… Once the deal is done you want everyone to feel like they're being treated fairly so that they jump into their job with both feet. If there is uncertainty after the close it can cause real issues in integration.”

—Tom Nelson, “Tom Nelson on Merger Integration Do's and Don'ts”

Professional services firm mergers and acquisitions play an important part in the strategic landscape of the industry. Combining two different firms allows the new company to reach a larger client audience and offer more comprehensive service solutions.  The benefits to both predecessor firms can far outweigh the risks that come with M&A. However, success is not guaranteed; both parties must work incredibly hard to make the transaction and subsequent integration a success.

Don has been intimately involved in close to forty acquisitions and mergers throughout his decades-long career as a CEO of various professional services firms. His accomplished experience, with such transactions and the  Three Keys integration, provides the basis for this chapter. Don believes, without doubt, that successful M&A requires the alignment of values between the firms involved in the transaction. This chapter addresses how the Three Keys—purpose, value, and story—impact inorganic growth and demonstrates how values must be in alignment before moving forward ...