The organization’s parent company allocated billions to accelerate growth, recognizing that organic performance alone could not meet incoming profitability targets. However, having scaled entirely through organic means, the company lacked a formal M&A infrastructure, target evaluation framework, and staffed corporate development function. While funding and motivation were abundant, the organization lacked the structural foundation required to translate capital into a strategic plan its board and parent company could confidently approve.
Case Study
Turning billions in uncommitted capital into an enterprise growth strategy.
This insurance and retirement solutions provider had just been allocated billions of dollars in capital for growth, but lacked a formal mechanism to deploy it. We helped build the enterprise M&A strategy, the board narrative, and the internal function needed to put that capital to work.
Engagement at-a-glance
Industry:
Financial Services and Insurance
Organization size:
~5,100 employees
Services:
Strategy Creation
Facilitation & Experience Design
M&A Integration Support
Facilitation & Experience Design
M&A Integration Support
The Challenge
The capital was there. The strategy to deploy it wasn't.
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No infrastructure for inorganic growth
The organization had no corporate development function, no established process for evaluating acquisition targets, and no in-house experience with due diligence or integration. Decades of organic growth had never required any of it.
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Capital without an investment thesis
While the parent company's multi-billion-dollar commitment created immediate urgency, leadership had not yet defined which markets to enter, what deal types to prioritize, or how potential acquisition targets would be evaluated against one another.
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Risk of losing corporate investment priority
As the parent company managed a vast, multi-billion-dollar portfolio of subsidiaries, the lack of a credible deployment strategy created an immediate threat. Without a clear plan, the organization risked losing its investment priority and strategic prominence within the broader corporate structure.
Our Approach
Closing the gap between the capital and an approved plan for spending it.
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1
Assessed the organization's growth options against parent-company targets
Compared organic and inorganic paths against the parent company’s income and profitability expectations to determine where new capital could realistically be put to work.
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2
Built the enterprise M&A strategy and investment rationale
Worked directly with the executive sponsor to translate market and industry research into a strategy that named specific markets, deal types, and evaluation criteria, rather than a general growth ambition.
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3
Facilitated alignment with the management committee and board
Ran structured working sessions with the management committee and board to align on the strategy, agree on deal evaluation criteria, and secure formal sign-off on the capital deployment plan.
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4
Designed the corporate development and integration function
Built the Integration Management Office model and playbook the organization would need to execute and integrate the acquisitions the new strategy called for.
Value Delivered
Capital with a plan, and a function built to keep deploying it.
Converted the available capital into an approved growth strategy
Leadership left board sessions with a defined enterprise M&A strategy connecting the parent company's capital commitment to specific markets, deal types, and decision criteria, rather than a general growth mandate.
Established corporate development function from the ground up
Where no formal M&A capability existed, we helped design and launch the Integration Management Office model and playbook the organization now uses to evaluate and integrate deals.
Solidified Parent Company Alignment & Confidence
The strategy's supporting rationale provided leadership with a credible, well-researched business case to present to corporate ownership. This strategic alignment significantly strengthened the organization’s standing and value within the global parent portfolio.
Established a Self-Sustaining Internal Capability
Transitioned full ownership of the M&A framework to the client, enabling them to scale independently. Under this institutionalized model, the organization has since executed a series of major strategic acquisitions.
Results that reflect the work behind them.
~12 months
From engagement start to a board-approved enterprise M&A strategy
$5B+
Capital the parent company committed to enterprise growth, guided by the resulting M&A strategy
5 pillars
Established to guide M&A strategy, deal evaluation, corporate development, and integration readiness
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Work With Us
The firms that move fastest don’t wait for clarity. They create it.
We help leadership teams cut their ambiguity, align around what matters, and build the momentum to transform their business.