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MERGERS AND ACQUISITIONS - Illustrative Accomplishments


Developed process improvements, organization structures, system architectures and merger implementation plans for a large subsidiary of a $7 billion financial services company after an acquisition. Led team of executives and key staff to determine “best practice,” “best personnel,” and “best systems”; and defined new process, organization and systems structures for the combined business. Result: Protected $10.9 million specialized revenue stream. Improved process efficiency and a 108-person staff reduction saved $11.4 million annual recurring costs.

Led a team with General Counsel that consolidated Citibank (Maryland), N.A. into Citibank (South Dakota), N.A., the main credit card bank for Citicorp. Spanning one and a half years this project dealt with all legal, regulatory, tax, accounting and systems issues.
Result: Realized a significant reduction in overall total operating costs for the combined entities as the 1,000-plus employee Maryland operation was consolidated.


As the initial CEO of an acquired national interior décor and high-volume art manufacturer and distributor, identified and evaluated potential targets, established the acquiring entities, led purchase negotiations, prepared letter of intent, and assisted attorneys in preparation of Asset Purchase and Stock Purchase Agreements in 65 days. Result: The negotiations and purchase were successfully completed in what the attorneys said was record time for a transaction of this size and complexity.


Performed an acquisition target review for the largest financial applications software vendor of the second largest manufacturing software vendor. The project included a “due diligence” review of the target’s software architecture and over one million lines of code; development of a replacement cost valuation review; design of combined product line architecture with fully resourced and costed development plan, evaluations of both staffs and newly envisioned organization structure with employee specific staffing recommendations. Result: Negotiations proceeded based on a recommended purchase price $26 million lower than the original asking price.


Actively participated in the due diligence and valuation processes for the same company of three successively larger acquisitions of $20 million, $60 million and $200 million. Led the integration of all the financial functions, systems and processes. Result: Market share grew from 15% to 35%.

Software Company Acquisition – Due Diligence

Conducted a “due diligence” on a software company in preparation of its acquisition. Evaluated executive management, staff, intellectual property, products and services, infrastructure, customer support functions and market position. Effort produced a negative opinion on the acquisition. Result: The client decided against the acquisition. The target company failed within the year.

Interim CEO - Product Management, Service Management and Process Reengineering

As interim CEO, led the acquisition and restructuring of a national interior décor and high-volume art manufacturer and distributor. Assignment included analyzing product and service profitability, identifying and eliminating obsolete inventory, rearranging the placement of raw materials and finished goods inventory within the warehouse and reengineering sales, manufacturing and fulfillment processes. The sales function was also enhanced by expanding the responsibilities of the account managers to include sales calls to non-clients; instituting procedures to manage the sales funnel and initiating sales to new industries. Result: Liquidated obsolete inventory, increased warehouse capacity by 20%, reduced warehouse and production staff by 40% using downsizing and replacing permanent, low-skilled employees with temporary labor, re-priced some service offerings producing a 20% lower breakeven point. In just eight weeks generated new proposals equal to 30% of annual product and services sales.

Post Acquisition - Consolidation and Relocation

Assisted a large Fortune 500 Financial Services company evaluate the economies of scale of combining Waltham, Mass and New York City based data centers into each other's space or finding a third party location to hold both. The project included modeling site expansion costs, site relocation costs, one-time costs (e.g. moving expenses, lease buy-outs, etc.), ongoing operating cost increases/reductions (e.g. lower per square foot rent, higher delivery charges, etc.), key employee relocation costs, employee commuting allowances, etc. In addition, the applications and architectures of each company were reviewed for synergies. Result: The majority of the systems running at the Waltham data center could be migrated to those running in NYC, thereby allowing the phase out of the Waltham data center and an annual cost savings of $ 1.9 million.

Post Acquisition - Operational Improvement

After the acquisition of a large retirement community, the acquiring company wished to reduce costs and achieve available economies of scale. While teamed with the Palmeri Group, we re-engineered most operations. This required a detailed workflow and value-added analysis. Processes, jobs and the organization were redesigned. New computer systems were selected and implemented to provide adequate and timely cost reporting. The remaining staff was trained to perform their new jobs with the new system. Result: The 20% annual cost reduction translated to an almost one-to-one improvement in the bottom line.


Managed acquisition analysis of a complete financial software product line from one multi-billion dollar company to another. Responsibilities included defining, coordinating and analyzing business economics, product convergence, sales and marketing strategies and the detailed business arrangements. Result: Customer made an offer at the recommended price.

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