Product Overview

In October 2021, Miles Arnone, CEO of Re:Build Manufacturing (Re:Build), was thinking about Re:Build’s next acquisition. Arnone contemplated the pros and cons of each of three candidate companies as he prepared for a discussion with his colleagues. His associate had synthesized the results of a screening assessment for the three potential acquisitions, one element of Re:Build’s acquisition decision-making process. Arnone and others had launched Re:Build in 2020 to help rejuvenate the US industrial base. The vision entailed acquiring and scaling manufacturing and engineering businesses into a tightly integrated portfolio to leverage technical capabilities across the enterprise. Adding a company to the Re:Build stable was no small decision, and getting it right would be another step forward in creating a “new” type of conglomerate—one where each company worked together to share technology, knowledge, and ideas. Which company (if any) offered the best fit with the overarching strategy? This partially disguised field-based case includes discussion of Re:Build’s company structure, decision-making process, and acquisition criteria, as well as data about its current companies and the three under consideration for acquisition. This case is taught in “Operations Strategy,” a Darden School of Business elective MBA course. It could also be used in other MBA courses and Executive Education programs that address entrepreneurship, private equity, and general strategy.

Learning Objectives

(1) Examine a unique business strategy to transform traditional manufacturing. (2) Develop an appreciation for value creation in operations beyond the common focus on implementing Lean tools. (3) Explore the opportunities and challenges of a culture built on a long-term horizon and a focus on people. (4) Bring to life the critical role that operations should play in a private equity–style acquisition strategy.