The recent economic times, including the build-up to Brexit, the slowing of global growth, and political turmoil, have most definitely created uncertainty across all industries. Many businesses are now looking for a glimmer of stability and considering all the options available to them.
One of these options is acquisition. The process of one company taking over, or absorbing another, has been around for more than 100 years, and is a firm way to engage in aggressive expansion, growth, and market presence.
Here at DRPG, we have been through three successful acquisitions. Each acquired business is of a different size, offering, and skillset, but all have added a tremendous value to our group, and helped strengthen our service.
Our approach is simple - our team are our most important asset. Maintaining this thought process is intrinsic to the success during such a fragile time as an acquisition.
In large-scale acquisitions it is common for the acquired to suffer redundancies and the remaining team forced to re-accustom to new systems and processes from day one. In our view, bringing another business into the group requires a non-destructive approach in order to protect the brand, its culture, processes, and keep focused on our clients.
We do this using three key methods. Firstly, we focus on the integration of their team, introducing the new team to our culture very early on, and nurturing the transition gently. Having new team members join our group brings new expertise and fresh exciting talent – which in turn bolsters our fresh creative problem-solving ideas.
Focusing on this integration early creates a buzz and takes away the daunting thought of joining a larger group. Instead, it is replaced with the feeling of joining a family - we may well be a group of over 400 industry experts across the globe, but we are still one team.
Secondly, their existing processes made them the business we wanted to acquire, and as long as we have a full team and financial visibility, we keep what has effectively made them successful. It’s no good acquiring a successful business to then later tear out its heart.
Thirdly, and most of all, we work to maintain the brand. This circulates confidence, not only in our new team but also the brands existing clients - they know they will still have the same team member as their main contact but with the positive difference of having an array of resources and expertise to support them.
"Our approach is simple, our team are our most important asset, and maintaining this thought process is intrinsic to the success during such a fragile time as an acquisition. "
We acquire businesses for a host of different reasons, all of which gives DRPG incredible opportunities to grow and increase its service offering. Looking back at when we acquired Penguins, this addition to the group brought us increased knowledge, but also the extra skills of incentive travel, which inevitably complimented our existing services and strengthened our quality and service offering as a group.
Ultimately, we acquire to ensure we are offering the best possible service, striving to be the thought leaders we are, thinking creatively, logistically, and emotionally. This enables us to increase our capacity and capability to deliver on our 'anything’s possible' promise.
By Richard Parmenter - Executive Assistant