Outcome Program · Carve-Outs, Synergies & Org/ERP Rationalization
Isolate standalone carve-out value and remove post-merger org and ERP drag.
Reconstruct standalone P&Ls, facility headcount and Transition Services Agreement bridges for buried divisions—and benchmark management spans, layers, multi-ERP instances and legacy R&D version support after serial acquisitions.
The commercial challenge
Serial roll-ups and complex divestitures hide standalone earnings and accumulate duplicate overhead.
Corporate parents routinely bury profitable specialty subsidiaries inside consolidated segment reporting while allocating arbitrary headquarters overhead. Conversely, companies built through serial M&A often carry seven to nine management layers, multiple unintegrated ERP instances and engineering teams trapped maintaining legacy software versions.
- High-margin manufacturing or software divisions obscured by parent-company corporate allocations and shared distribution.
- Post-merger reporting hierarchies with narrow spans of control and four or more unintegrated ERP and billing systems.
- Engineering capacity consumed by older product versions and low-margin custom implementation services.
What your team receives
Four decision-ready deliverables in one program.
We reconstruct standalone unit economics and stranded-cost bridges for buried divisions before divestiture or acquisition, benchmark post-merger management spans and layers from the executive suite to the front line, and size multi-ERP finance, HR and legacy-version support rationalization.
- 01
Standalone carve-out P&L & TSA cost bridge
Bottom-up reconstruction of subsidiary revenue, plant headcount, shared-service dependencies and stranded parent costs, then Day-One TSA schedules once seller data is available.
- 02
Organizational spans-and-layers diagnostic
Outside-in mapping of reporting layers and manager-to-contributor ratios from the executive suite to front-line operations against top-quartile peers.
- 03
Multi-ERP & shared-services consolidation plan
Quantified cost and cycle-time bridge for rationalizing duplicate finance, HR, billing and procurement systems across acquired entities.
- 04
Legacy-version support & systems-integrator offloading roadmap
Engineering allocation audit separating legacy maintenance drag from net-new product build, paired with a partner offloading model for implementation services.
Illustrative output
How the executive brief and reconciled databook are structured.
Every cell in the accompanying spreadsheet model is formula-driven and tagged either empirically sourced (with document and page citation) or model-inferred (with stated benchmark assumptions).
| Carve-out or synergy stream | Reported state | Standalone or peer | Annual EBITDA poolCA$M | Confidence |
|---|---|---|---|---|
| Buried subsidiary standalone EBITDA margin | Consolidated | 28% EBITDA | +$24M | high |
| Management spans & layers (8 tiers to 5) | 8 tiers | 5 tiers | +$19M | high |
| Multi-ERP finance & billing consolidation | 4 ERPs | 1 platform | +$14M | high |
| Legacy R&D patching & systems-integrator offload | 55% maint. | 20% maint. | +$16M | medium |
Capabilities & starting scopes
Start with one deliverable or run the full outcome loop.
Each outcome program draws on specific steps of the research loop and can be commissioned as a focused starting deliverable or a recurring program.
Diagnose
Where is the value, or the risk?
Reconstruct standalone subsidiary P&Ls, benchmark management spans and layers against peers, and audit duplicate ERP instances and legacy R&D maintenance drag.
You getDiagnostic and peer benchmark
Plan
What should we do, and what is it worth?
Size and sequence the carve-out separation plan, Day-One TSA schedules, organizational delayering, ERP consolidation and systems-integrator offloading.
You getValue creation plan
Monitor
What changed since the last review?
Track post-close synergy realization, TSA exit milestones, ERP decommissioning and engineering re-allocation across acquired business units.
You getQuarterly monitoring read
Starting research deliverables
Company diagnostic
An outside-in carve-out diagnostic isolating standalone subsidiary revenue, plant headcount, shared-service dependencies and stranded parent overhead.
Peer benchmark
An organizational spans-and-layers, multi-ERP overhead and legacy-version R&D allocation benchmark against top-quartile operators.
Value creation plan
A sequenced synergy and separation plan covering org delayering, finance and billing system consolidation, systems-integrator offloading and TSA exit.
How to start
One question, a fixed fee, a first read in days.
- Your question
- One live question, with the decision it serves.
- What comes back
- A reviewed answer with a point of view (a ranked shortlist, a diagnostic or a plan), with every source and anything unverified flagged.
- The fee
- The fee is fixed and agreed before work starts.
- The timing
- A first read in days, not weeks, then the reviewed brief on the date we agree.
We can provide regular research updates after the first project.
Industries & buyer teams
Target sectors and teams that commission this outcome.
Choose your industry to see sector-specific research questions and sample workbooks, or select your team to see how we scope the first engagement.
Industries served
- Technology & telecoms
Benchmark legacy-version support and R&D maintenance drag, offload low-margin implementation services to partners, and model implied equity valuation bridges.
- Industrials & manufacturing
Audit component should-costs with zero spec changes, release cash trapped in branch inventory and unbilled work, and capture higher-margin aftermarket repair revenue.
- Retail & consumer
Isolate negative-margin SKUs, unbundle trading-house and freight markups, release cash trapped in seasonal inventory, and model direct-to-consumer channel shifts.
- Healthcare & life sciences
Benchmark acute-care cost per weighted case, consolidate clinical and surgical SKU spend, and map domestic biomanufacturing and sterile-fill capacity.
- Advisory & professional services
Equip consulting, deal-advisory and transformation partners with pre-pitch financial hooks, off-market target screens and peer benchmarks.
Anonymized proof
What our analysts have uncovered across delivered engagements.
8 layers · 4 ERPs
Mapped 8 reporting layers and 4 unintegrated ERP instances at a communications operator to size a nine-figure SG&A and billing consolidation roadmap.
600+ bps
600+ bps of recurring gross-margin expansion sized at an enterprise software vendor by offloading implementation services to systems integrators and retiring older product versions.
Pre-LOI bridge
Implied equity valuation bridges and standalone carve-out reconstructions separating volume growth from channel mix and margin expansion before exclusivity.
From the 15Rock Review
Field notes & whitepapers on carve-outs, synergies & org/erp rationalization.
Analyst-checked teardowns, benchmarks, and decision frameworks drawn from delivered engagements.
The Dual-Use Conversion Playbook: How Commercial Manufacturers Cross the Defence Credential Chasm
Commercial manufacturers that bid directly on classified defence tenders stall in the credential chasm. Sequencing Stage-1 dual-use space and offset cells wins work in 90 days.
Underwriting the Sovereign Pivot: How Banks, Institutional Allocators, and Private Equity Price Sub-Tier Defence Risk
Banks and private-equity funds deploying capital into defence supply chains face 35.4% capital-lapse deferrals, availability fee clawbacks, and 4.4x registry revenue gaps.
The First-100-Days Diagnostic: Building a Self-Funding Private Equity Value Creation Plan
Post-merger integration fails when capital-intensive automation projects launch before balance-sheet cash is released. Sequencing DSO working-capital release in Days 1 to 30…
Start with one question
Which subsidiary carve-out, roll-up integration or multi-ERP cost structure needs a standalone bridge?
Tell us what you’re investigating and when you need an answer. We’ll discuss the scope, inputs and research that would help.