Why Culture Is the Real M&A Advantage

The Key Role of Culture

According to McKinsey & Company, global merger and acquisition (M&A) activity increased 43% in 2025, landing 4.2% of total market value. As we know, M&As have the capability to increase value significantly, but research from Harvard Business Review highlights that 70-90% fail or underperform, and culture is a big part of the reason for failure. 

emagine has completed fourteen acquisitions in the past six years in multiple markets, including the UK, France, Belgium, Portugal, the Netherlands and others. As a firm, this has greatly strengthened our expertise in all aspects of the M&A process, as well as the intricacies of change management, integration, and strategy. As a consultancy, we are able to deliver to clients the same expertise that we leverage for our own sustained double-digit growth journey.

From the very beginning, our priority has always been to maintain culture and unite each firm under ‘one emagine’ to nurture a sense of belonging, a common goal and the motivation that comes with this. We have leant on our Nordic roots to adopt a non-hierarchical, open door culture. 

Alongside expanding internationally, strengthening our capabilities, and building one of Europe’s leading consultancy firms, through every stage of that journey, we have protected the culture that makes people want to stay.

The human side of integration

One of the greatest risks during any period of rapid growth through M&As is focusing so heavily on business integration that the human experience becomes secondary. Organisations naturally concentrate on systems and structures, and these things matter, but the employee experience during a merger or acquisition is just as important and should begin before a deal is signed Gallup reinforces the urgency for a thorough, mutual culture audit as part of M&A due diligence, and this is where we begin any M&A process.

For many people, change brings uncertainty. Employees want to know that they are still a valued member of the firm, whether leadership will remain visible, and whether the identity and values of the company will survive. When those questions are ignored, disengagement can follow quickly. In many cases, businesses lose the very talent and expertise that made an acquisition valuable to begin with. Effective and regular employee engagement and communication is a vital step during this period of change.

Building growth around people

At emagine, growth has always been approached with our people in mind. As the organisation has expanded across markets and countries, the focus has been on bringing businesses together while respecting what made them successful in the first place.

Culture is shaped by how people experience the organisation on a daily basis, including leadership, their progression, and how their teams function. It is reflected in transparency during times of change, in how decisions are communicated and whether employees feel valued beyond the acquisition itself. Maintaining culture through growth requires listening before changing anything. Having a foundation of trust before change helps people buy into it much more seamlessly. 

The challenge of post-merger integration, bringing two organisations, sets of employees, leadership teams and ways of working together, needs to be designed bespoke to fit the specific organisations involved and with people at the centre.

Why retention matters more than ever

At emagine, retaining talent has always been a strategic priority. Sustainable growth depends on creating an environment where people feel connected to a shared purpose and confident that their contribution still matters as the organisation evolves.

Achieving that requires visible leadership and clear communication, particularly during periods of expansion. Employees need honesty during uncertainty and reassurance that growth will create opportunities rather than instability for their role. For international firms, they also need to feel empowered locally while remaining connected globally, and striking that balance is one of the most important parts of successful integration.

Some of the strongest merged organisations are built by bringing together different strengths, perspectives and experiences under a common set of values.

As emagine has grown internationally, that diversity has become one of the organisation’s greatest strengths. Teams across different countries and disciplines bring different ideas, expertise and ways of thinking. What unites us is a culture built around collaboration.

Those qualities become even more important as businesses scale. In today’s market, culture is no longer simply an internal differentiator, it forms part of the external reputation of a business. Clients increasingly want partners that demonstrate stability and consistency, while employees are looking for organisations where they feel trusted to deliver meaningful work.

The future of sustainable growth

The future of successful growth will not belong solely to the companies that expand fastest. It will belong to those that grow while keeping their people engaged, motivated and aligned. Businesses that recognise culture as a driver of performance will be better positioned to navigate change successfully over the long term.

If your organisation is facing change or looking for a new opportunity in a growing business, get in touch with the emagine team today.