Background and Challenges
A leading American multinational car rental company has recently acquired an Italian Company with a wide presence and solid territorial relationships. However, the market in which this acquisition has been going on is highly competitive and unfolds strong operational and price pressure.
The company has asked Tefen to help it to set up a swift and effective integration process, in order to achieve synergy and consolidate its market positioning. Furthermore, the company has asked Tefen to help it overcome change management issues related to culture and organizational/infrastructure differences due to the integration, and preserve previously existing value elements.
Tools and Methodologies
The methodology focused on four different dimensions:
1. Integration process structuring and targets - including structuring the intervention areas and projects was made, along with setting goals and allocating resources.
2. Strategic planning - defining a roadmap and milestones within it
3. Change management - including an active program management, including change management, risk mitigation, and more
4. PMO oversight - structuring bottom-up business cases, target setting and monitoring financial achievement performance metrics.
This ongoing project has already achieved the goal of preserving the following existing value elements:
Also, s a result of the project a full integration is expected within 1.5 years.
And above all, this ongoing integration has a year-to-date EBITDA* of almost 5 M€ and a forecast of ~21 M€.
*Earnings Before Interest, Taxes, Depreciations, Amortizations
Performance Improvement, Transformation and Change Management Expert