Post Acquisition Success with AssetWorks Appraisal
In this short video, join Michael Borello, General Manager of AssetWorks Appraisal, as he discusses how Volaris' buy and hold philosophy aided his business unit and the success they have had post acquisition.
For your preference, below is a transcription of the video:
My name is Michael Borello and I'm the general manager for the AssetWorks Appraisal business. We were purchased by Volaris in 2008. I've been with this organization since 1999 in various roles and I've been the GM since 2004.
The buy and hold approach was so valuable in our unique situation because AssetWorks was actually merged 3 times. This was the third time we were sold in my career. It was nice to finally have a permanent home. We could really start planning for the future. In the other situations, you never really knew if you were putting together a business plan that would have to go away very quickly because something was going to change.
After we were acquired, there was a major shift in the organizational culture from day one. Immediately, myself, my peers, our leader became very focused on what should be important for our company which is moving the organization forward in the future and making sure we're making a reasonable profit doing it. That was not a culture that we came from with Maximus at the time. We actually had no insight into that information so it was a breath of fresh air really having a clear view into the organization and what we could change to make it better.
I would evaluate post acquisition success on what we were able to do with the organization once we were acquired. It was a new world for us. My personal organization has been very, very successful in growing. Not only in the core business that Volaris bought, but into new businesses that we were able to expand to because of the abilities that Volaris brings to the table and encourages that type of activity.