In this episode of M&A+ The Art After the Deal, host Lisa Scott is joined by Michael Richards, a transformational leader with deep expertise in private equity, technology, and software. Michael shares insights from his extensive career spanning Deloitte, KPMG, and leadership roles as CFO, COO, and Chief Transformation Officer. He discusses his work as an Operating Partner at Symphony Technology Group and the strategic execution of carve-outs like RSA Security. This conversation explores the complexities of post-deal transformation, the challenges of execution, and the impact of AI on business evolution.

Key Topics Covered:

1. Michael Richards’ Career Journey

• Started as an accountant and auditor at Deloitte.
• Early exposure to private equity through work with KKR during post-Soviet economic transitions.
• Progressed from consulting at Deloitte and KPMG to leading post-deal execution roles in private equity-backed firms.
• Current role in media technology, overseeing product and enterprise transformation.

2. Private Equity & Post-Deal Execution 

• Differentiating private equity styles: control-oriented investing vs. passive exposure.
• The role of private equity operating teams in driving execution.
• Importance of having a strategic plan before acquisition and ensuring leadership alignment post-close.

3. Defining Post-Deal Success

• Private equity’s primary success metric: ROI upon exit.
• Execution success hinges on structured governance, operational focus, and adaptability to market conditions.
• The importance of aligning CEO and leadership team to transformation goals.

4. Challenges in Strategy Execution 

• The risk of post-deal neglect: why continuous monitoring and accountability matter.
• Silos between deal teams and operating teams can hinder execution.
• The need for programmatic, milestone-driven tracking of transformation initiatives.

5. Leadership & Team Buy-In for Transformation 

• Importance of fostering a growth mindset and culture of adaptability.
• Key leadership traits: servant leadership, transparency, and action-driven management.
• Balancing internal execution with strategic external consulting support.

6. Keeping Post-Deal Momentum 

• Effective communication strategies: town halls, one-on-ones, milestone tracking.
• The role of structured program management in sustaining momentum.

7. AI’s Impact on M&A & Business Transformation 

• AI’s role in reducing administrative burdens and optimizing operations.
• How AI-native solutions can enhance product transformation and internal efficiencies.
• The shift towards AI-driven value creation within private equity-backed firms.

8. The Future of M&A in 2025

• M&A activity hinges on interest rates and capital supply dynamics.
• Increasing emphasis on operational expertise in private equity firms.
• A shift from financial engineering to value-driven, strategic transformation.

9. Advice for Young Professionals Interested in Private Equity & M&A 

• Gain expertise in finance, accounting, legal, or strategy to build a strong foundation.
• Understanding business models and value creation is critical to success in private equity.

Final Thoughts & Takeaways:

• The post-deal phase determines whether value is created or lost.
• Strategic planning, leadership alignment, and disciplined execution drive successful transformations.

AI and technology continue to reshape how businesses optimize post-acquisition strategies.

Connect with Michael Ri

To learn more, visit: https://in2edge.com/