Acquisition of a Global Specialised Chemicals Business
Description of Project
Chaucer was engaged by a Dubai based Corporation to oversee and Project Manage the acquisition of a global specialised chemicals business. The business operated in 54 countries and had a turnover of $200M.
Chaucer’s Scope
Chaucer provided a complete project management service plus specific advice and support in areas such as organisation, IT, business operations, performance management, etc.
- Project Management, governance and assurance
- Communications – internal and external
- Planning, resource scheduling, progress monitoring and tracking
- Project Accounting and Budget/Project Cost Control
- Integrated Planning and Resource Scheduling of all aspect of the project
- Issue Management
- Risk Management and Mitigation
- Management Reporting
- Facilitation of Meetings
- Interface and Interdependency identification and control
- Co-ordination of Legal and other third party professional advisers
- Provision of ad-hoc advice and support to the CEO and other executives
Benefits
The acquisition was achieved in significantly less time than was envisaged. The pace of the acquisition was driven by Chaucer to the benefit of the client not only from a financial viewpoint but also from an operation control viewpoint. This was very important because of the type of business, which had for many years been part of a global conglomerate and consequently had stagnated and lacked challenge and performance motivation. Chaucer helped restore a performance driven culture into the business globally.
The management by projects ethic brought to this acquisition significantly helped in the behavioural and cultural change into a new vibrate and very successful new business entity.
Another vital aspect of Chaucer’s modus operandi on this project was to ensure that ‘Business as Usual’ was safeguarded at all times in order to maintain positive cash flow for the business.
Chaucer’s rigor and discipline in driving this acquisition project through a structured workscope and planning methodology meant that the new owner had control from day one and was able to focus immediately on making and increasing profitability of the business.
The business has grown and become increasingly profitable which is due in no small part to the controls put in place by Chaucer during the acquisition.
This project was a great success for the client and realised a significantly higher prize than was originally forecast, a major factor in this was attributed to Chaucer’s role in Project Managing this complex acquisition.
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