Richard Parry and Branka Dessens
Integration lead vs. PMO: who does what
Every integration has two groups: the people who lead it and the people who run it. Confusing the two is how programmes stall.
Insights - From the team
What our partners and team have learned running integrations, carve-outs and the deals behind them.
PMI Mastery
Ensuring Deal Value: Reliable Integration Delivered
A practical whitepaper on how Atlantic M&A delivers human-centric post-merger integration with tech-enabled senior expertise.
Richard Parry, Thomas Kessler and Branka Dessens
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Ensuring Deal Value: Reliable Integration Delivered
A practical whitepaper on how Atlantic M&A delivers human-centric post-merger integration with tech-enabled senior expertise.
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Branka Dessens and Richard Parry
Should you hire your integration lead internally or externally?
Internal leads know the culture; external leads bring neutrality and specialist experience. Which fits depends on the deal, and on how often you buy.
Atlantic M&A Partners
The critical role of second-line leadership
When an empowering acquirer buys a top-down business, the bottleneck is rarely at the top. A case study in changing how decisions get made.
Branka Dessens and Thomas Kessler
Cultural due diligence: what you can learn before close
Most acquirers judge fit on commercials and financials, and find the cultural problems after closing. Many of them could have been seen during diligence.
On LinkedIn
Showing 1 to 6 of 66 posts
Richard Parry ·
The integration finishes in a year.
The earnout runs for three. That gap is where earnouts go wrong. The integration team moves on, the advisers leave, and by the final period the figures are argued from memory.
Earnouts · Read on LinkedIn
Richard Parry ·
A deal does not end at Day 100.
Neither should the project. When an integration is done, the same project can become the value creation plan, with everything it holds.
Buy and Build and value creation · Read on LinkedIn
Richard Parry ·
Who should hold the record of an earnout?
Not the adviser. Their engagement ends long before the final period does. An integration runs on specialist advisers: one for the integration office, one for IT, one for finance, one for people and change.
Earnouts · Read on LinkedIn
Richard Parry ·
Earnout disputes are rarely about the formula.
They are about delivery against the numbers that went into it. So in the Earnout Ledger a figure is never edited. Changing one creates a new version with a reason, and the original stays on the record.
Earnouts · Read on LinkedIn
Richard Parry ·
The integration team stands down.
The earnout does not. By the time the final earnout period is settled, the integration office has usually closed, the advisers have rolled off and the workstream leads are back in their day jobs.
Earnouts · Read on LinkedIn
Branka Dessens ·
What US buyers underestimate in Europe
Friday: champagne. Monday: the first US GAAP deadline. Nobody planned who would do the work. Written with Katrina Nacci, CPA.
Day One and the first 100 days · Read on LinkedIn
Richard Parry ·
McKinsey's new article on the agentic transformation office gets the diagnosis right.
Transformation offices are too large, too manual and too late, and the people meant to make the organisation faster spend half their week validating data and assembling decks. Their answer is to automate the centre.
AI and the transformation office · Read on LinkedIn
Thomas Kessler ·
Purpose, respect, together
The plant manager held up his tie. It was Mickey Mouse. Three plain words replace a label nobody remembers, and answer the three questions every acquired leader asks the night a deal is announced.
Culture and people · Read on LinkedIn
Thomas Kessler ·
He stuck a Mickey Mouse tie in my face
That was thirty years ago. I have managed 47 integrations since. That tie still comes with me to every one of them.
Culture and people · Read on LinkedIn
Thomas Kessler ·
Every integration has a death zone
Climbers call it the death zone. The only way to the summit runs straight through it, and if you stay too long, the summit stops mattering, because you are gone. Every integration has one too.
Day One and the first 100 days · Read on LinkedIn
Thomas Kessler ·
The day the deal closed, you were handed the title.
Authority is a separate transaction, and nobody on the acquired side has signed off on it. Most leaders who take over an integration assume the org chart does the work. It gave them the box at the top.
Leadership in integration · Read on LinkedIn
Thomas Kessler ·
Month four.
The integration plan is green. And three of the five people carrying it have quietly stopped volunteering for anything. Nobody escalates that. It never appears in a SteerCo pack.
Culture and people · Read on LinkedIn
Thomas Kessler ·
Everyone was playing. Nobody was playing the same score.
Dissonance in M&A doesn’t announce itself as a crisis. It hides inside activity.
Culture and people · Read on LinkedIn
Thomas Kessler ·
You cannot straighten a culture you haven’t read.
The acquirer’s integration lead wanted to impose clarity fast. Grid the whole thing. Straighten it out by Friday. But look closely at the canvas.
Culture and people · Read on LinkedIn
Thomas Kessler ·
What the acquired leadership team is thinking before your kick-off
“Are we being told what to do, or are we being asked to help build this?” And: “Whom do we call when we disagree with the plan?”
Day One and the first 100 days · Read on LinkedIn
Branka Dessens ·
Most mergers don't fail at the deal table.
They fail after closing. Not because of strategy or valuation, but because organizations are less ready for change than assumed. This challenge is becoming increasingly visible in modern Post Merger Integration (PMI).
AI and the transformation office · Read on LinkedIn
Thomas Kessler ·
The damage starts on announcement day.
You don't even own the company yet. The window between signing and closing lasts one to four months. Most acquirers treat it as a waiting period.
Day One and the first 100 days · Read on LinkedIn
Thomas Kessler ·
The moment a CEO delegates integration leadership, the integration is already failing.
The title moves. The authority does not follow. This is not an argument against integration managers.
Leadership in integration · Read on LinkedIn
Thomas Kessler ·
The acquirer lost 230 million in market capitalization, roughly equal to the price paid for the acquisition.
That is the brutal signal in M&A: the market does not reward the announcement. It rewards execution.
Governance and the integration office · Read on LinkedIn
Thomas Kessler ·
The most dangerous leader in an integration is not the loud one.
It is the one who stops listening. In M&A, the spotlight on the CEO is intense. Boards expect direction. Teams expect certainty. Investors expect momentum.
Leadership in integration · Read on LinkedIn
Thomas Kessler ·
In M&A integrations, leadership behaviour is often judged too quickly.
Labels like “too controlling” or “not strategic enough” may hide deeper organisational issues. Before correcting the leader, C-level executives should examine the system around them.
Leadership in integration · Read on LinkedIn
Branka Dessens ·
Earn-outs: smart on paper, messy in practice
Earn-outs look great in the deal model. Until integration begins: they are negotiated legally, but they succeed or fail operationally after closing.
Earnouts · Read on LinkedIn
Thomas Kessler ·
Ninety minutes of RAG updates every week is not cadence.
It is the appearance of control while the real decisions accumulate elsewhere. Most integration steering committees follow the same pattern. Red. Amber. Green. Workstream by workstream. The CEO listens. Someone takes notes.
Governance and the integration office · Read on LinkedIn
Thomas Kessler ·
AI & M&A Integration: AI should not be owned by one function alone.
In M&A and enterprise transformation, the real leadership task is to define who owns which AI decisions, across strategy, operations, technology, risk, finance, and people.
AI and the transformation office · Read on LinkedIn
Thomas Kessler ·
Ego kills synergies.
Followership saves M&A integrations. Status-threat activates the amygdala; candour drops and blind spots grow. Leaders who follow first keep the prefrontal cortex online, so synergies land.
Leadership in integration · Read on LinkedIn
Thomas Kessler ·
When a leader feels unsafe, logic goes offline and control takes over
In M&A, insecure leadership is not a personality issue. It’s a value-leakage mechanism.
Leadership in integration · Read on LinkedIn
Thomas Kessler ·
Your prefrontal cortex is a brake.
AI is an engine. When the engine gets stronger, the brake doesn’t, so your organisation feels productive while it quietly accumulates cognitive debt.
AI and the transformation office · Read on LinkedIn
Thomas Kessler ·
A strategic pivot fails when your investor base isn’t aligned
Investor fit is strategy: misjudge it, and you invite sell-offs, activism, and leadership pressure.
Due diligence and deal risk · Read on LinkedIn
Thomas Kessler ·
In volatility, adaptability is the leadership KPI
Uncertainty pushes the brain into threat mode. In senior interviews during post-merger change, leaders are assessed on how fast they turn ambiguity into direction.
Leadership in integration · Read on LinkedIn
Thomas Kessler ·
Your integration won’t fail because of the model
It will fail because of the leader’s blind spots under stress. In M&A, the CEO’s threat-response brain can erase synergies faster than any competitor.
Leadership in integration · Read on LinkedIn
Thomas Kessler ·
Most post-merger “ownership culture” efforts over-invest in slogans and engagement campaigns, yet behaviour barely moves.
In M&A, that gap is expensive: it shows up in slower decisions, higher attrition, and delayed value creation.
Culture and people · Read on LinkedIn
Thomas Kessler ·
Most PMI culture efforts over-invest in communication and training, yet behaviour barely moves.
In M&A, that gap is costly: it slows decisions, erodes trust, and delays synergy realisation.
Culture and people · Read on LinkedIn
Thomas Kessler ·
Synergies don’t fail in Excel.
They fail in legacy culture. In post-merger integration, leaders enter a culture they didn’t create and are expected to deliver value immediately. The fastest path isn’t authority. It’s trust.
Culture and people · Read on LinkedIn
Thomas Kessler ·
Day 1 may close cleanly, but PMI reality hits in waves
Systems, roles, reporting lines, customers and culture, often all at once. Most integrations don’t fail because the plan is wrong. They fail because the organisation can’t absorb change fast enough.
Culture and people · Read on LinkedIn
Thomas Kessler ·
Human first, AI second
Over four weeks of in-depth CEO conversations, one insight kept resurfacing. AI will be mission-critical in M&A, and it can scale integration output at the push of a button: plans, comms packs, synergy lists, stakeholder memos.
AI and the transformation office · Read on LinkedIn
Branka Dessens ·
Buy-and-build unlocks huge value.
But what happens when your core is transforming at the same time? It’s like renovating your foundation while adding new floors. Possible? Yes. Easy? Not even close.
Buy and Build and value creation · Read on LinkedIn
Thomas Kessler ·
The Importance of an Integration Operating System in M&A Transactions: A Case for AI-Powered Ecosystems
M&A success is no longer about the “best deal”. It is about whether your organisation has an AI-enabled integration system that can actually digest it. Treat integration as infrastructure, not a one-off project.
Governance and the integration office · Read on LinkedIn
Thomas Kessler ·
You don’t need more advisors.
You need the right sequence. What the world’s Top 30 M&A voices cover, and how to connect sourcing, structure, people, and PMI into systematic value creation.
Due diligence and deal risk · Read on LinkedIn
Thomas Kessler ·
The Importance of Human-Centric Harmonization in M&A Transactions: A Case for a Customized Integration Playbook
Who standardizes, scales. Who harmonizes, lasts. Write the playbook your next deal deserves.
Governance and the integration office · Read on LinkedIn
Thomas Kessler ·
The one score CEOs need post-deal
Measure flow, trust, and customer lift.
Governance and the integration office · Read on LinkedIn
Thomas Kessler ·
The Silk Road and the Art of M&A Integration
Why global leaders should rethink what “alignment” really means.
Culture and people · Read on LinkedIn
Thomas Kessler ·
Watchtower Strategy for M&A
See early. Secure value. Scale fast. Like the towers of Ushguli in Georgia, winning integrations hinge on three CEO moves, starting with Executive Alignment and WeekOne guardrails.
Day One and the first 100 days · Read on LinkedIn
Thomas Kessler ·
The Importance of Decision & Escalation, and Killing “Handshake Deals”, in M&A Transactions
Reset decision and escalation rights and flush out handshake agreements in Week One, or you fund chaos. Most value is won or lost after the handshake.
Governance and the integration office · Read on LinkedIn
Thomas Kessler ·
Deals don’t fail on strategy.
They fail on integration. Success comes down to three decisive leadership events, starting with Executive Alignment and WeekOne.
Day One and the first 100 days · Read on LinkedIn
Thomas Kessler ·
The Importance of Shared Energy in M&A Integrations: A Case for Strategic Alignment
During the Tour de Mont Blanc I witnessed something remarkable. While hiking, we found ourselves on the trail of an ultramarathon: 61 kilometers, hundreds of runners, narrow paths.
Culture and people · Read on LinkedIn
Thomas Kessler ·
The Importance of Investing to Unlock True Synergies in M&A Transactions: Lessons from 2000m Altitude
We had just walked up 1000 m in altitude and turned the last corner. Finally, the Refugio appeared, one of the milestones of the day. Suddenly, I heard a helicopter breathing down my neck.
Buy and Build and value creation · Read on LinkedIn
Thomas Kessler ·
The Importance of Calculating Risks in M&A Integrations: A Lesson from the Mountain Trail
This weekend, I hiked a trail with nearly 18 kilometers in distance. The first 500 vertical meters were the toughest: steep slopes of over 45 degrees, covered with brittle slate rock.
Due diligence and deal risk · Read on LinkedIn
Thomas Kessler ·
The Importance of Balanced Teams in M&A Projects: Why Strength Alone Isn’t Enough
In M&A projects, success rarely depends on individual brilliance alone. What matters is how teams are built and how complementary strengths are combined.
Culture and people · Read on LinkedIn
Thomas Kessler ·
What circumventing Mont Blanc teaches us about mergers and acquisitions
10 friends hiking 170 kilometers and 10,000 meters of altitude gain around Mont Blanc is more than just a physical challenge. It is the perfect metaphor for the tension every M&A integration faces: speed vs. sustainable value.
Day One and the first 100 days · Read on LinkedIn
Thomas Kessler ·
M&A Truth Bomb: Mergers & Acquisitions are just group therapy sessions without a therapist.
Everyone’s talking. Nobody’s listening. And somehow, “synergy” is the only word on the slides. What we call “integration” often feels like translation, of culture, systems, and egos.
Culture and people · Read on LinkedIn
Atlantic M&A Partners ·
M&A Under the Macroscope: Economic Forces at Play
Marguerite Bolze takes a macro lens to M&A: it isn’t just about the deal, it’s about timing, economics and strategic foresight.
Due diligence and deal risk · Read on LinkedIn
Thomas Kessler ·
The Importance of Leadership & Governance in M&A Integration: A Case for the Integration Management Office (IMO)
Leadership and governance are often the silent drivers behind successful M&A integrations.
Governance and the integration office · Read on LinkedIn
Atlantic M&A Partners ·
Bolt-on Acquisitions: ABC to Integrate
Marguerite Bolze on bolt-on acquisitions, with the view from the midsize C-suite and the managers who have to live with them.
Buy and Build and value creation · Read on LinkedIn
Branka Dessens ·
Just closed your first acquisition?
Congrats! Now the real work begins. Don't let the post-deal whirlwind make you forget the key to success: COMMUNICATION. Radio silence in the first months is recipe for disaster.
Day One and the first 100 days · Read on LinkedIn
Branka Dessens ·
"Buy and Build" sounds great in theory, right?
Fast growth, expanded capabilities. But what happens when you're not 100% ready to integrate a new acquisition? It's a tough spot.
Buy and Build and value creation · Read on LinkedIn
Thomas Kessler ·
M&A integrations don’t fail because of poor strategy
They fail because leadership doesn’t lead. You’ve closed the deal and the synergies are on paper. Now comes the real test: can you align your top team, and lead people, not just projects?
Leadership in integration · Read on LinkedIn
Atlantic M&A Partners ·
The Importance of Operational Value Creation in Private Equity: A Case for Rebalancing the Model
A case for rebalancing the private equity model toward operational value creation.
Buy and Build and value creation · Read on LinkedIn
Thomas Kessler ·
Strategy, valuation and synergies drive M&A decisions. What about culture?
How often does culture get the same level of scrutiny? Financial forecasts won’t warn you about silent resistance from employees.
Culture and people · Read on LinkedIn
Thomas Kessler ·
Exclusive interview: unlocking M&A synergies, from strategy to execution
For CXOs and private equity managing directors, M&A success is about turning projected synergies into measurable value. Too often, synergies are overestimated, poorly tracked, or lost in execution.
Buy and Build and value creation · Read on LinkedIn
Thomas Kessler ·
M&A Success: Turning Synergies into Real Value
Closing the deal is just the beginning. The real challenge? Executing on synergies to drive measurable impact.
Buy and Build and value creation · Read on LinkedIn
Thomas Kessler ·
Communication from signing to the first 100 days
For a medium-sized company scaling through acquisitions, effective communication from signing to Day One and the first 100 days isn’t just important, it’s essential.
Day One and the first 100 days · Read on LinkedIn
Thomas Kessler ·
Resistance to change can derail the best-planned merger
Companies lose 40% of their senior managers within the first 24 months post-merger, not because of poor strategy, but because of people.
Day One and the first 100 days · Read on LinkedIn
Thomas Kessler ·
Day One is where strategy meets execution
Success hinges on a clear, actionable plan. Day One is more than a ceremonial kickoff: it’s the bridge between deal closure and delivering value.
Day One and the first 100 days · Read on LinkedIn
Thomas Kessler ·
An effective Integration Planning Framework
How to structure an M&A integration process so that teams, governance and communication operate seamlessly.
Governance and the integration office · Read on LinkedIn
Branka Dessens ·
To Hire Internally or Externally for Post-Merger Integration?
Mergers and Acquisitions (M&A) are a crucial growth strategy for many companies. Yet, the success of these deals often hinges on the integration process post-acquisition.
Governance and the integration office · Read on LinkedIn
Thomas Kessler ·
Financing an acquisition is as strategic as the acquisition
The choice between equity or debt financing can have far-reaching consequences on the entire integration process, from employee morale to long-term synergies.
Due diligence and deal risk · Read on LinkedIn
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