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Post-transaction & operational consulting
From three companies to a $1B NASDAQ listing
A private equity sponsor merged three businesses at a deal value over $300M with an IPO as the intended exit. The operating model was settled before the integration began.
SectorReservoir services
ServicePost-transaction
Deal value$300M+
Year2024
The situation
A private equity client combined three businesses into a single entity: a reservoir solutions consulting firm, an oilfield manufacturing operation, and a rental and services company. Deal value ran past $300M, and the sponsor intended to exit through an IPO.
Three companies meant three ways of working, three sets of assumptions about who decides what, and a public listing waiting at the end of it.
What we did
We started at the top, facilitating a vision statement with the board and the management team, so the combined company had a single answer to what it was for before anyone tried to reorganize around it.
From there we built the capital management processes and defined what each role was accountable for against that vision.
We worked with internal stakeholders throughout rather than presenting them a finished model. People who help build an operating structure tend to be the ones who actually run it.
How it played out
The new company operationalized over two years. Leadership had decision-making frameworks that held under pressure, employees understood where accountability sat, and investors saw disciplined fundamentals underneath the growth story.
The outcome
A NASDAQ IPO above $1 billion.The combined company listed at a valuation exceeding $1B, roughly three times the deal value the sponsor put in.
Why it matters
Most post-merger value leaks in the first eighteen months, through duplicated functions, unclear decision rights, and people waiting for someone to tell them who owns what.
Settling the operating model early is unglamorous work, and it is what kept this combination clean enough to take public.
Integration starts before close.
The operating model, the decision rights, and the capital processes are cheaper to settle early. Tell us where you are in the deal.
