INDUSTRY
Industrials
Manufacturers and chemicals producers resetting footprints, costs and portfolios for a slower decade.
Engagements since 2021
Mergers and carve-outs supported in the sector
Average EBITDA margin improvement on full programs
OVERVIEW
We work with chemicals, machinery, building materials and components manufacturers on mergers, footprint, procurement and operational performance across Europe, North America and Asia.
Industrial companies spent the last decade growing into steady demand. Many now face flat volumes, structurally higher energy costs in Europe and customers who want supply closer to home. The response usually involves hard choices about plants, portfolios and partners.
We work with chemicals producers, machinery and equipment makers, building materials companies and component suppliers. Much of our work in the sector involves mergers and carve-outs, where we cover the deal and the integration, along with footprint reviews, procurement and plant performance programs. Our Zurich office leads the practice, with teams in New York, London and Singapore.
WHAT IS SHIFTING
01
European energy costs have changed plant economics
Sites that were competitive five years ago are now marginal. Footprint decisions that were postponed can no longer wait.
01
Supply chains are being regionalized
Customers want shorter, more resilient supply, which means more plants closer to demand and harder trade-offs on scale.
01
Consolidation is accelerating
Slower volume growth makes scale more valuable, and mid-sized producers are merging to share fixed costs and research budgets.
01
Service revenue is a bigger share of value
Machinery and equipment makers are earning more from service, parts and software, which requires different sales and delivery models.
“Everyone warned us that the cultures would clash. What made the difference was deciding the top three layers of leadership before closing, so nobody spent the first six months wondering about their job.”
Chief Executive Officer, Two specialty chemicals producers in Germany and Switzerland
SERVICES
All services
Webinar: scenario planning for the 2027 board calendar
scenario-planning-2027-webinar
Event
Elena Marsh and Priya Raman
A one-hour online briefing for directors and executives on building scenarios, triggers and prepared moves into the board's regular cycle.
Scenario planning that boards will actually use
scenario-planning-for-boards
Article
Elena Marsh and Thomas Reid
Most board scenario exercises produce a thick report and no decisions. A lighter approach, tied to triggers and pre-agreed moves, makes them useful.
Making cost savings last: a breakfast roundtable for CFOs
making-cost-savings-last-roundtable
Event
David Okafor and Hannah Cole
A closed-door breakfast in London for finance leaders planning their next cost program, built on the findings of The CFO Cost Agenda 2026.
Operations AI Benchmark 2026: from pilots to the P&L
operations-ai-benchmark-2026
Report
Marcus Lindqvist and Priya Raman
How 286 operations leaders are using AI in maintenance, planning and quality, how much of it reaches production, and what the companies seeing returns do differently.
Zero-based organization design, done properly
zero-based-organization-design
Article
Hannah Cole
Designing an organization from a blank page sounds radical. Done well, it is the most practical way to remove layers and duplication without starting a political war.
The first 100 days after a merger
first-100-days-after-a-merger
Article
Lukas Brenner and Amara Nwosu
The first hundred days after closing set the pace for everything that follows. What to settle before day one, what to do quickly, and what to leave alone.
The CFO Cost Agenda 2026: why savings fade and what keeps them
cfo-cost-agenda-2026
Report
Thomas Reid and David Okafor
A survey of 412 chief financial officers on cost programs, how much of the savings survive, and the practices that separate durable results from temporary ones.
Making AI pay back in operations, not in pilots
making-ai-pay-back-in-operations
Article
Marcus Lindqvist and Kenji Watanabe
Most operations AI never leaves the pilot stage. The few use cases that pay back share a set of traits that have little to do with the model itself.
Pricing power after the inflation years
pricing-power-after-inflation
Article
Elena Marsh and Priya Raman
Companies raised prices faster than costs between 2021 and 2024. Customers remember. How to set prices now that the cover of general inflation is gone.
Why cost programs fail in year two
why-cost-programs-fail-in-year-two
Article
David Okafor and Thomas Reid
Most cost programs hit their first-year targets. The savings disappear in the second year, for reasons that are predictable and largely avoidable.