Integration; People, Process, and Systems & Industry Communities: A DEEPER Dive: Communications - Pre & Post Acquisition

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E113: Tony Benedict In Merging Technology, Culture, and Processes for Innovative M&A Transformations

Summary/Abstract

Tony Benedict is an experienced CEO and advisor in the field of mergers and acquisitions and integration. His experience in this field began when he changed careers and started working for Intel. At Intel, he learned about the insource/outsource balance and the concept of copy exactly, which means that the same processes are used in all of their factories around the world. This standardization has enabled Intel to make its processes more efficient. Tony is now sharing his expertise in the field of M&A, and is here to share his knowledge on the How2Exit Podcast.

Tony talks about his experience in operations, starting with Intel and then transitioning to a for-profit healthcare system backed by private equity. With this company, the speaker went from 12 to 28 hospitals in 18 months and from 2.2 to 7 billion in revenue. Tony got the fever for post-acquisition integration and the pressure to do it quickly and correctly. Eventually, the company was bought out, but the new company was slow to integrate the speaker's recommendations.

The speaker has been in the healthcare industry for a number of years, and has been working as a solopreneur since 2016. His business model is focused around the integration of shared services such as finance, accounting, supply chain, HR, and HIM, with technology being used as an augmentation. He has developed his own process-based approach to accelerate integration, allowing him to complete projects in a shorter amount of time than larger firms. He has used this approach to complete projects in two to three years, with the second healthcare company project being completed in just over two years.

Tony Benedict discussed the different approaches to mergers and acquisitions, specifically when working in private equity. He believes that when acquiring a company, it is important to move quickly and efficiently while also considering the people involved. He suggests that the people should be valued and their fears should be addressed. He believes that there is a way to consolidate and save money while also preserving human resources by redeploying them where they are needed. He also believes that it is beneficial to use the client's resources instead of hiring contractors, as it can help to get them excited about the work and help them gain new skills (55:54) Listen Here

Check out the new AI Ask This Episode Anything tool and our written article about what we learned here: 

10 Concepts We Can Learn About Integration After Acquisition on How2Exit's Interview W/ Tony Benedict Partner with Omicron Partners

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E112: Meriplex's Tech Industry Strategies with VP Of Corporate Development & M&A, Neil Medwed

Summary/Abstract

Neil Medwed is the VP of Meriplex Corporate Development and M&A. He has been in the technology industry for 26 and a half years, having his own company called Preferred Technology Solutions in the Dallas area. He was asked to join Meriplex five months ago and has been working to promote the company in the Dallas-Fort Worth area. He has been investing heavily in technology communities, leading and giving back to the industry for over two decades, making him a trusted and reliable person. As a result, he has been successful in bringing people into Meriplex’s network, including his friends.

Neil is VP of Corporate Development and Mergers & Acquisitions at Meriplex. He got the role due to his 39 years of experience in the business, his dedication to the technology community, and the perfect timing of his life. He talks about how he has been able to use his experience to help people and how he enjoys building, growing and doing. Ron Skelton then talks about the community aspect of tech, where people need to ask others that have already been there in order to solve problems fast. They both agree that having a strong network of people in the industry is essential for success.

The conversation is about joining a community in the tech industry and how it can be beneficial. Neil Medwed explains that you can be on an island alone or you can join a confederation of like-minded people. He explains that there are many different types of communities out there and they all have their own benefits. He also explains that by joining a community, you can avoid mistakes and enhance your successes. 

Neil explains that culture is an important factor in business, and that it is a people business. He uses an example of a company in the Northeast that Meriplex was considering purchasing but ultimately decided against due to their culture being a potential cancer. Dave Henley, the CEO of Meriplex, is praised for being so steadfast on culture and for being one of the top five talents in the industry. The speaker then goes on to explain that the culture of a company is one of the most important things to consider when looking for quality revenue, profit, and leadership. It is also essential to find people who want to do something bigger and better than they have before. Watch here: (59:21)

Check out our article about this episode, complete with an AI-backed Ask the episode anything tool:

10 Concepts We Can Learn About Success in M&A on How2Exit's Interview W/ Neil Medwed Meriplex VP of Corp Development & M&A

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This week’s “DEEPER” Dive: Communication in SMB M&A Pre and Post-Acquisition

In the world of Small and Medium-sized Business (SMB) mergers and acquisitions (M&A), effective communication plays a pivotal role in driving success. It is crucial during pre and post-acquisition phases, helping build rapport, smooth negotiations, integrate systems and retain employees. This article explores the importance of communication in SMB M&A and provides practical tips for optimizing this vital aspect of the process.

Let’s dive in.

Read the full article by the Author, Ronald Skelton, with a paid account, click the share below and tag me in your share to get a paid account for a week, refer 3 people (DM me who you got to sign up), and get a paid account for 90 days. Get 10 signups - FREE FOR A YEAR.

FROM THE Editor:

Disclaimer: This newsletter is provided for informational & educational purposes only, and should not be relied upon as legal, business, investment, or tax advice. We are not attorneys, tax, or financial advisors and not qualified to give any such advice. 

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