“I have reached a more strategic understanding of mergers and acquisitions”
Sepideh Carlsson is the CFO of the hotel chain First Hotels. She had been involved in several acquisition processes earlier and chose to participate in SSE Executive Education’s program Growth through Mergers and Acquisitions (M&A) in order to, in her role, contribute even better to any future M&A processes.
What was the background to your participation in the program?
“I had already been involved in three M&A processes at First Hotels. In these cases, my role had chiefly focused on the integration phase and financial reporting. I had less experience of the initial phases of the process, such as due diligence and negotiations, and wanted to strengthen my skills in these areas to be able to contribute in a more holistic way to any future M&A processes. For First Hotels, it was important to ensure that we had the competence necessary to align with the company’s strategy. SSE Executive Education’s M&A program had just the focus we were looking for.”
What are your reflections on the program in general?
“It gives you a lot and strikes a good balance between theory and practice. As a participant I got access to many practical tools that I could start using right away in our own processes, for example for modelling in order to see the potential in a possible acquisition target. I also appreciated that we had exercises where you got to reflect on different practical examples. The teachers were very good and all contributed their separate parts to construct a whole. To a large extent, they started from real M&A situations which made the content more relevant.”
Have you developed in your role through the program and had use of your new knowledge?
“Definitely! I have reached a more strategic understanding of mergers and acquisitions and how they influence our business in both the short and the long run. My analysis is sharper and I feel more confident in my ability to contribute through all the phases of the M&A process as a stronger partner to management and the Board. Finding myself in a new M&A situation after the program, I owned the process in a new way. I could contribute more to analyses, the due diligence and in identifying critical points that could impact negotiations.”
What did you think of the composition of the group?
“It was a very varied group, with participants from different industries and with different roles. One of the strengths of the program was that we could share our different experiences and get acquainted with several perspectives on common M&A challenges. There were very interesting discussions and at times our thoughts differed completely due to our different roles. I have stayed in touch with the other participants through digital forums, which has been valuable for bouncing ideas off each other and getting input on issues of the day.”
How did you feel about the level of the program and the teaching methods being used?
“The level was high and well-adjusted to our needs as professionals. As promised, the program delivered a holistic perspective on the M&A process with a mix of theory, case studies and interactive learning that made it easy to assimilate new knowledge and then apply what you had learnt in practice. If I could wish for anything more, it would be that the program had been longer, so that you could probe deeper into, for example, role-playing in the negotiation phase and the interpersonal aspects of the integration. But we do not have unlimited time in our roles, either.”
Is there something else that you appreciated in particular?
“I really appreciated the program director’s great devotion to the subject, knowledge and approach. This made everything so much easier to absorb and was definitely a decisive factor in making the program a success. I also had a few enlightening moments, for instance realizing the critical significance of the due diligence for understanding risks and opportunities at a deeper level, beyond the purely financial, and the importance of negotiating terms that promote a smooth integration.”
To whom would you recommend this education?
“The program suits not only CFOs and CEOs, but all key people directly involved in different parts of M&A processes. It is especially valuable for those looking for a deeper understanding for the entire complex M&A process and wanting to strengthen their strategic competence with a holistic perspective.”
“I REALLY APPRECIATED THE PROGRAM DIRECTOR’S GREAT DEVOTION TO THE SUBJECT, KNOWLEDGE AND APPROACH.”
