Corporate mergers only create value when both sides agree on what each is to contribute, keep, or discard. When the 10,000+ employees of oilfield industry heavyweights, ChampionX and Apergy, agreed to a merger of equals, they needed to set a strategy on how they would work together to create a more valuable combined business.
This was the case when global management consulting firm, Roland Berger, selected EX3 Labs to design a virtual merger synergy discovery and implementation workshop during the height of the pandemic. The goal of the workshop was to bring together leadership of both organizations to jump start a strong partnership, challenge the combined team to think beyond their own organizational capabilities, and create new value propositions to change conversations and drive growth.
[This workshop] really helped me to think about how we can continue to challenge ourselves… it’s obvious that we are getting to a shared vision.Participant
EX3 Labs tailored an interactive, multi-channel Microsoft Teams environment to foster collaboration and create a rich, shared experience, gamified play, and interpersonal discovery. Virtual white boards, on-screen post-it notes, along with templates for generating and testing new value propositions and distinctive combined services. In the end, the team came up with 33 ideas for commercial synergies, new businesses, and combined winning services.