Corporate Development, Target person or team, IMO
3 to 6 months
Beware of selecting existing people inside your organization as part of the clean team. There is a rule that prohibits the clean team from going back to work in the business for a period of time if the deal doesn’t close. Hence, picking someone from the operations might be too risky.
Anybody nominated to the clean team must be approved by the council and leaders on both sides. The people allowed on the clean team are people who do not have any responsibility regarding:
This person must be someone who has a project management background and an Agile mindset. Someone who has past experience in dealing with integration is ideal.
The entire idea behind having a dedicated clean team is to have a person in your company doing integration planning when no one else can. After all, they are the only ones who have access to the information required for integration planning.
Bring the person into existing or emerging integration and allow them to learn by osmosis. Teach them what to look for in data rooms and how to use plays in the company. Dedicate time and resources to sharpen your dedicated person as soon as possible.
This person should now have the ability to be a member of the clean team and obtain sensitive information during diligence.
As soon as the deal closes, your clean team will now be able to pinpoint key areas that needs to be mitigated, rather than starting from scratch.