VERVE assisted a Fortune 50 client with several transactions, including a $68 Billion acquisition, two $2 Billion divestitures, and an $11 Billion divestiture along with a variety of collaboration and joint venture agreements. Our team of diverse project management consultants assisted in several functional areas, providing subject matter expertise, strategic guidance and additional resources as the client had limited staff to work on supporting the transaction, integration and carve-out activities, while doing their ‘business as usual’ functions.
Financial Project Management: Managed the transition of financials through year-end in compliance with the Transaction Services Agreement (TSA) for a divested entity. Acting as Financial Project Manager, VERVE provided project management oversight and financial expertise in support of major acquisition and resulting asset divestiture.
- Established a process for implementing Corporate Accounting issues resulting from the divestiture
Developed schedules and timetables for international locations to comply with provisions of Transition Services Agreement (TSA)
- Provided status to management
Manufacturing Integration Project Management: To support the multi-billion dollar acquisition, one of VERVE‘s project managers was enlisted to guide the client’s project to transfer products from the acquired firm’s manufacturing facilities to several global locations. Highlights include:
- Facilitated a program of 30 divestment and transfer projects for division assets
- Created project plans, gained local country buy-in, tracked plans, and managed escalations
- Worked with project teams in the U.S., Spain, Belgium, and the Netherlands
Technical Accounting Guidance for Ongoing Business Development Projects: As an interim member of our client’s technical accounting advisory team, VERVE reviews transaction contracts to provide accounting guidance and to propose alternative structures to achieve the desired results. This includes:
- Providing due diligence support and purchase accounting guidance to divisional operational, financial, and legal staff to help ensure that business and accounting, both internal and external, objectives are met
- Identifying and analyzing the accounting and reporting issues of acquisitions, divestitures, collaborations, co-promotion and licensing arrangements and strategic investments by reviewing proposals, contracts, term sheets, executive summary memos, and other related documents in addition to holding discussions with appropriate Company personnel
Technical Accounting & Excel: VERVE provided leadership on a strategic balance sheet segmentation project which would impact future regulatory reporting. VERVE’s role on this highly visible technical accounting and Excel driven initiative included project management, strategy, coordination with the functional groups and strong technical assistance.
Financial Management for Business Technology Integration: VERVE provides strategic financial management and analyst services for transformational divestiture project activities. This includes:
- Manage project Transaction Services Agreement (TSA) ongoing cost analysis, estimation, and changes for wind down exit scenarios
- Develop global methodologies to collect and provide estimates for stranded, dis-synergy, and termination fees & penalties for wind down exit scenarios
- Establish project processes and global financial reporting for TSA Ongoing, Exit, and De-Integration spend
- Obtain and track financial costs related to actual, committed, and forecast for project activities
- Update and track changes to contracts and agreements upon termination of services
- Address data discrepancies with work stream leads, finance, procurement, and project PMO
Human Resources Project Management: VERVE provided HR management with assistance on various strategic projects including:
- Project management guidance for global HR systems and processes (payroll and benefits) implementation
- Managing HR Readiness/Business Processes for global mobility initiative
- Managing the investor room for transactions including assisting with response research and analysis for investor room questions, and preparing target employee lists for divesting entities