If done correctly, taking a company through major, transformational changes is a unique opportunity to open up new sales opportunities or markets, expand the portfolio and accelerate its growth.
An incredible example of transformational change and the possibilities that it can create for a company, comes from our speaker at Friday’s chapter meeting: Charles Harrington, the CEO of Parsons Corporation.
In the past year alone, he has navigated not one, but two acquisitions totaling $1.6 billion and moved his company headquarters from Pasadena, Calif. to here in the National Capital region.
In doing so, Mr. Harrington has unlocked Parsons’s full potential and enhanced the company’s strategic business opportunities for future decades. With the assets it acquired by purchasing OG Systems and QRC Technologies this year, the Parsons portfolio has an increased footprint in geospatial and signals intelligence, military hardware and electronic warfare. These make it better equipped to capitalize on the Department of Defense and Intelligence Community’s renewed focus on multidomain conflict and great power competition.
These changes are already bearing fruit for the company. Even though the integration of both acquired companies has been underway for less than a year, they are already helping Parsons’s revenue growth and its cash flow. The company commands a strong cash flow and balance sheet and could continue growing through future mergers and acquisitions. .
With the National Capital region continuing to be a hotbed of M&A activity, local executives and dealmakers could learn a lot from an accomplished leader such as Mr. Harrington. His upcoming monthly meeting is an excellent opportunity for corporate growth professionals to gain valuable insight into identifying future growth opportunities, aligning them with your growth strategy and finding efficient ways to use them to drive revenue.
To learn more and register for Friday’s event, click here.