Acquired? Now What? Bill Decker Vice President & General Manager Equipment & Services Group

Overview Actually achieving synergy Value of strategic partnerships

(Harvard Business Review) Between 70 & 90% of Mergers and Acquisitions fail to deliver the anticipated return on investment. (Harvard Business Review)

Achieving Synergy Does 1 + 1 = 1 ½, 2, or 4 Starts with strategy Does everyone understand why the acquisition/merger makes sense? Is the leadership team actually leading the change? Don’t lose sight of people Effect on company culture

Achieving Synergy Messaging How are you communicating and how often Remote employees are equally critical or more in the process Customer and employee feedback is crucial Managing change M & A will change both companies. Embrace the positive Increase training and balance workload Retain top talent by listening Be willing to adjust priorities without compromising values

Strategic Partnerships Option to Acquisition Expands product or service offering Expands geographical footprint Secures supply chain Enhance R & D efforts Advantages Can shorten time to launch Acquire specialized skills quicker Definitely lower cost compared to acquiring a company Could be a trial run Risks Less Control Communication is still critical and can be more difficult Values/Culture

Keys to Success Leaders must lead Communicate, communicate, communicate Embrace the new culture and develop new process Don’t lose sight of the people or the customers Training must be a priority Assess and correct course early and often Have fun