Les différents types de M&A

philrancourt

Voici une réflexion fort intéressante sur les différents types de fusion/acquisition :

http://hbswk.hbs.edu/item/2123.html  

Je ne suis pas très surpris que ce soit le type 2 "le geographic roll-up" qui ait le plus fort taux de succès. C'est à la base du succès des Couche-Tard ,Richelieu, MTY, Boyd, etc...

snowball

Interessant aussi de voir qu'une compagnie comme Smart employee benefits peut se servir de l'acquisition comme levier et recuperer la sous-traitance le tout augmentant ses revenus de 300 a 700 %. Cette approche semble moins risque que des acquisitions non strategiques a gros prix.

SEB’s Client Acquisition Strategy is initially via acquisition, and then organic via transitioning of the Clients to the fully integrated SEB technology platform. The result is the capture of premium dollars that are currently being spent on multiple service providers, (including for administration, adjudication, claims paying and reporting) in one environment. The increase in revenue over a typical TPA environment, as a result of consolidation of services to one technology provider/platform, is between 300% and 700% depending on the client. Technology solutions in the market today are very fragmented and old technology. SEB is the only TPA offering a fully integrated technology solution in the marketplace.

Three groups are targeted for acquisition/investment:

Third Party Administrators (TPAs) (Acquire 100%) – capture group benefit clients.
Consultants/Brokers (minority Investments) – influence group benefit clients.
Technology/Healthcare Service Providers (Acquire 100%) – provide access to corporate and government clients.
There are hundreds of TPAs in Canada, thousands of brokers/consultants and several hundred technology/healthcare service providers that fit into the SEB acquisition/investment business model.