Merger and acquisition execution PUSH > MOMENTUM > DRIVE

Recent transactions

Transaction Industry Challenge Activities AU$
Merger of Australian Unity and Lifeplan Funds Management (2009) Financial Services Coordinating transaction team activities whilst managing the complex risks inherent in merging two mutual organisations
  • Chaired Transaction Team Meetings
  • Assessment and mitigation of transaction risks
  • Coordination of transaction team activities
  • Development and execution of business integration plan
 $7Billion FUM
Merger of Westpac and St.George (2008) awarded "Best M&A Deal" for 2008 by FinanceAsia Magazine Financial Services Coordinate deal activities across multiple stakeholders whilst maintaining strict confidentiality
  • Management of the Steering Committee process
  • Coordination of all deal team tasks
  • Coordination of due diligence
  • Maintenance of timetable momentum
  • Prioritisation of key decisions through the correct forums
 Value $12 billion

Transaction costs $50 million
Merger of Hastings Funds Management and Westpac Specialised Capital Group (2008) Financial Services Organisational restructure and integration of two highly specialised businesses
  • Management of the Steering Committee process
  • Development and execution of the integration plan
  
BT Investment Management IPO (2007) Financial Services Complete the financial sections of the prospectus within tight timeframes
  • Chair of the Finance Stream Steering Committee
  • Coordination of due diligence
  • Coordination of the prospectus drafting and verification
 Value $800 million

Transaction costs $15 million
Purchase of Rams by Westpac (2007) Financial Services Prepare finance for Day 1 within a short timeframe
  • Chair of the Finance Stream Steering Committee.
  • Development and execution of the transition plan
  • Issue resolution
  
Merger of Australian Unity and Grand United Corporate Funds (2007) Health Insurance Major functional changes to core systems and processes
  • Merged Corporate Health funds
  • Chair of the Steering Committee
  • Management of the Vendor relationship
  • Coordination of Project Work Streams
  • Development and execution of the integration plan
 Project spend
$8 million
Sale of Australian Unity’s General Insurance business to Calliden Group (2007) Financial Services Completed deal with limited HR involvement
  • Negotiate Transitional Services Agreement
  • Negotiate Employee Offer letter (100% offer acceptance, same T&C's)
  • Development of Communication Plan
 Value $62.5 million
Transition of Westpac's Custody Business to HSBC (2007) Financial Services Maximise Earnout
  • Developed and executed a joint transition plan with HSBC
  • Established a joint Governance framework for the transition program
  • Ensured Westpac's compliance with contractual sale obligations
 Value $150 million
Sale of Westpac's Custody Business to HSBC (2006) Financial Services Drive the process to an unpredictable end date
  • Coordinated the deal team activities
  • Turn around of queries by purchaser
  • Negotiated Transitional Services Agreement
  • Development and execution of sale communication plan
  • Completion of residual tasks
 Value $150 million
Merger of Australian Unity and Grand United Retail Funds (2005) Health Insurance Turn anger and uncertainty into active participation
  • Merged the Retail Health Funds (180,000 members)
  • Established program office
  • Team leadership (8 work streams)
  • Chaired Steering Committee
  • Dispute resolution
 Combined turnover $500 million

Project spend
$7.5 million
Disaggregation of Epic Energy between Hastings Funds Management and DUET/Alcoa/Alinta (2004) Oil and Gas Separate the business between two competing consortia
  • Chaired Steering Committee
  • Duplicated systems, processes and procedures
  • Team leadership/relationship management
  • Issue resolution and reporting
  • Change management
 Pipeline assets
$1.7 billion and $800 million

Project spend
$2.5 million
Purchase of Delhi Petroleum by Australian Petroleum Investments and Transition out of ExxonMobil (2004) Oil and Gas Negotiate a Transitional Services Agreement allowing sufficient time for knowledge transfer
  • Chaired Steering Committee
  • Documented core business activities
  • Negotiated Transitional Services Agreement
  • Developed transition strategy
  • Migrated business from Melbourne to Sydney
 Turnover
$300 millon

Project spend
$2.5 Million
Sale of AGC from Westpac to GE Capital (2003) Financial Services Migrate the equipment finance book
($5 billion) from AGC to Westpac in four months
  • Migrated business groups to GE
  • Separated the equipment finance book ($5 billion)
  • Completed internal requirements critical to deal negotiation
  • Terms and conditions of sale agreement executed
  • Facilitated workshops between the vendor and purchaser
 Transaction value $1.7 billion

Project spend
>$20 million
Purchase of Hastings Funds Management by Westpac (2003) Funds Management "Light touch" required to integrate a small company of 30 employees into Westpac
  • Executed conditions precedent
  • Integrated into Westpac as required
  • Developed and delivered a communication plan
  • Point of reference for all parties
 Transaction value $100 million

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