Nightwing
Fast growing forests need strong roots. Effective post-acquisition strategies.

Background
Raytheon divested its cybersecurity and intelligence business, Nightwing, in April 2024. The sale was for about $1.3 billion to a very large private equity firm. Both companies hired growth[period] through a competitive process to lead the Transition Management Office and negotiate the Transition Services Agreements.
Challenge
Negotiating and planning for a successful divestiture and standup of the new company, Nightwing, in 100 days. Clearly, the company needed a disciplined and effective process to stabilize the new entity. And to support that transition, it turned to growth[period].
growth[period] solution
Following an initial assessment, our first step was to create a Day 1 - Day 100 plan with work streams and associated milestones. These were designed to sustain systems until Nightwing could either have its own systems in place or have agreements with their own vendors. The project structure was based on setting priorities designed to achieve specific tangible operational business outcomes.
Implementing steps towards independence meant creating new and more-efficient processes, such as a weekly operations review, weekly work stream prioritization and sequencing, and more, to make sure the company met milestones to set up key systems.
Another element of our plan was to establish clear criteria for the seller's actions. The TSA should clearly spell out the services to be provided, along with how, when, by whom, and the minimum required performance level. This includes listing activities and specifying which employees will be involved in providing the services and setting forth the amount of time that these employees will dedicate to the buyer. growth[period] also created a structured chain of communication between the buyer and Raytheon, as well as the buyer's right to review the Raytheon's related operations.
Results
Nightwing successfully divested from Raytheon within the timeframe with over 50 TSAs negotiated. Nightwing's standup as a NewCo and transition to their new owner was complete. While the project itself took six months, to sustain the work moving forward, growth[period] documented the new processes and created more than 50 work streams to drive Nightwing's successful independence from its previous owner.