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Chris Hawkins: M&A, Career Mobility, In house vs. Consulting

Chris Hawkins: M&A, Career Mobility, In house vs. Consulting

Released Sunday, 3rd April 2016
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Chris Hawkins: M&A, Career Mobility, In house vs. Consulting

Chris Hawkins: M&A, Career Mobility, In house vs. Consulting

Chris Hawkins: M&A, Career Mobility, In house vs. Consulting

Chris Hawkins: M&A, Career Mobility, In house vs. Consulting

Sunday, 3rd April 2016
Good episode? Give it some love!
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Introduction: I’ll ask you to tell us what you do in a sentence or two.* Director Corp Dev at SunEdison* Integration of acquired companies in NA* Setting up global shared services center.

You’ve worked as a consultant at one of the large global consulting firms and ‘in-house’ on M&A with a very fast moving corporate player. Can you compare the two environments?* 8 - 9 years on PwC on audit side. * Exposure into non-account work and he saw that he couldn't 'speak the language' of other parts of the business.* swimming pool - swims the whole pool.

Consulting vs. in-house?* Mind set is very different. Serving in a client service role objectives are a little different. At the end of the day in house you'll still be here. As a consultant, that might not be the case. Your companies name is attached to it, not your own.* There's a higher level of accountability building the house that you have to live in.* Drive of the people in consulting is different. In corporate, you'll see different motivations, not necessarily all on the same page.

Contrast the differences.* Leading by influence. Getting everyone on the same piece of music. Easier at a consultant.

For the last several years, you’ve been focused on M&A activities. Can you give us some context of the work you’ve done…

* Merger and integration.* Buys two types of companies - those with people, those without. * FirstWind Deal - entire company - 250 people* Projects* Split between finding deals and integrating them.* Buying a company isn't easy. Making it work is also difficult. Can't just throw it over the wall and expect them to coexist.

As you’re looking at a possible acquisition, when do you typically get involved?* doesn't work very well to bring in an integration team too close to the deal being done.* Should all tie into the valuation model. Need someone who can see the synergies and help with valuation.* When you bring everyone into the game early and get buy in on a road map for integrating the two entities - cost savings, new business, etc.

For those of us on the outside looking in, give us a sense of the work that’s gone into an acquisition before any news becomes public?

* Typical lifecycle: NDA* Diligence & preliminary term sheet* Sign a PSA, purchase and sale agreement* Sign to close varies

Once your team has settled in on the idea that a specific transaction will go through, what are you looking for within the firm to maximize the value of this acquisition?

* You can either save $ or drive more $* Cost savings:* Business A isn't going to do something anymore - may also cost rev.* Duplicative back office functions* Complementary supply chains

* Revenue Side:* Cross-sell or up-sell to current customer lists* Partnerships * Technologies each company may have* Sometimes you're betting on the future of a technology paying

There’s likely a significant value factor – the business model, horizontal / vertical integration, specific book of business. I’d imagine in every transaction, there’s one big value driver. Is that right, or am I missing something?

* Is there a theme associated with it. * FirstWind: Wanted to get into wind. Directionally, it was about getting into wind. Also sub-components.

The audience for this podcast are ambitious corporate professionals. What one piece of tactical – go implement today – advice do you have for this group?

* Everything needs to drive some kind of value.* On a macro level that may take months* On a daily level - you need to know what you're doing that will drive the highest value. * What is the highest and best use of your time.

What’s your favorite business book?

* Coopitition, Game Theory, 3D negotiations.* Dale Carnegie, How to Win Friends and Influence People

Tell Chris thank you on LinkedIn. [email protected]

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