Mistakes were made at Tenon, says Raynor
Highs and lows during Tenon's acqusition phase
MISTAKES WERE MADE by RSM Tenon during its highly-acquisitive phase, CEO Andy Raynor claimed yesterday.
The firm had made mistakes in the past through its rapid growth by acquisition, he told delegates during the “Growth through leadership” seminar at IT company CCH’s conference.
However, he claimed that he is proud of the business and that acquisitions never run exactly to plan, at least for the first two years.
Raynor said that it was difficult to really understand everything about an acquisition until it becomes part of the business.
“It’s like buying a car. When you take a car home and wash it, you can see all the scratches you didn’t see before,” he said.
The CEO said it can be difficult acquiring a company but it is a successful way to bring growth and profitability to a firm.
However, he warned that there is no such thing as a business that is too big to fail and firms should never believe they are better than their clients.