检测行业并购扩张模式的经验研究——以“华测检测”为例

Research on the lesson from Merger and Acquisition Expansion Mode in Testing Industry——Taking “Centre testing international group” as an example

越来越多的企业采用并购作为快速扩张的有效方式,而并购后的整合失败问题也日益突出。“华测检测”作为检测行业的领军企业,在2009年上市后并购公司的数量高峰时到达90多家。2016年,“华测检测”与其子公司“华测瑞欧”爆发了激烈的控制权冲突,引起投资者的重点关注。究其原因主要是上市公司对子公司的财务管控失控,高管激励计划未达到目的以及并购后的整合不利等。针对此案例和类似频发的事件,特有针对性地提出相应的建议。

More and more enterprises taking M&A as an effective way of rapid expansion,the integration failure is increasingly prominent after M&A.As a leading company in the testing industry,the number of M&A companies peaked at nearly 90 from 2009 listed in Shenzhen.In 2016,there was a fierce control conflict between"Centre testing international group"and its subsidiary company.The main reason are that the subsidiary is out of control from"Centre testing international group";the incentive plans of senior executives fail to achieve the incentive purpose;and the integration after merger is unfavorable.In view of this case and similar frequent incidents,the corresponding suggestions are put forward.