BDO Bundles Services for Insurance M&A Win

June 2021

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One of the largest insurance providers in the U.S. needed help navigating a large acquisition. The company’s corporate development group was looking for an outside advisor that could team with their internal leaders to complete an aggressive due diligence timeline. The organization had primarily grown organically but had been building its mergers and acquisitions (M&A) capacity and expertise through the creation of new processes and procedures. To accelerate their growth, they turned to BDO.

The company turned to BDO’s Management Advisory Services (MAS) practice for integration management guidance.  Our MAS team helped create a series of integration workshops for the HR and IT teams to prepare them for all phases of the acquisition lifecycle. BDO then assembled a holistic team to perform due diligence in support of this first large acquisition. The target was in an adjacent business segment and was a publicly traded entity requiring a high level of confidentiality.

BDO managed multiple workstreams including IT due diligence, cyber diligence, risk advisory, treasury services, human resources and integration preparedness. Each client team worked with their BDO counterparts to manage the diligence requirements for their functional areas. Additional planning around post-close integration activities were identified and documented to provide information to business leaders that would manage the post-close work.
 

One Voice

To keep the many workstream layers consistent and to avoid overwhelming the client with updates, BDO provided a single point of contact to the firm. Communication was consolidated and streamlined and the BDO team on each workstream worked closely with its company counterpart to ensure co-sourcing was taking place and knowledge was shared. The goal was to provide direct input into the transaction evaluation and financial model, and to build the skills of the client’s team in completing a due diligence assessment.
 

More to Come

The due diligence workstream is now complete and BDO continues to support integration planning and post-close implementation. The BDO team is collaborating with new team members through workplan reviews and dashboard development. The client’s goal of growth through targeted acquisition and equity investments has allowed BDO to work in partnership with them on two additional transactions that have been initiated since the start of the primary engagement.