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Joint Ventures that Keep Evolving Perform Better

Successful companies actively manage their businesses through periods of economic growth, downturn, and recovery.

Our analysis of 60 leading firms across the automotive, aerospace and defense, chemicals, energy, industrial, and mining sectors shows companies that are more active in managing their portfolios of material JVs and non-equity partnerships are more likely to meet or exceed industry-average return on capital. Rather than revealing corporate weaknesses and strategic missteps, firms that actively shape and reshape their JVs are tapping into sources of competitive advantage. This research also extends our prior findings that joint ventures undergoing at least one major restructuring are twice as likely to achieve their strategic and financial objectives, generating 10 to 30% performance improvements on average. 

Read the full article originally published in the Harvard Business Review.

About the Authors

James Bamford

James Bamford is a Senior Managing Director at Ankura based in Washington, DC. He joined Ankura with the firm’s 2020 acquisition of Water Street Partners, which he co-founded in 2008. Water Street Partners has been independently ranked as the number one global advisor on joint ventures since 2017. Prior to Water Street, he was global co-lead of the Joint Venture & Alliance Practice at McKinsey & Company.

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