Newsletter Mergers Alliance Autunno 2014

AUTUMN 2014
Moving forward
It has been an extremely positive year
for the Mergers Alliance Partnership to
date. We have strengthened the team
in LATAM and Asia, with new members
joining in Mexico and Thailand, which
has established Mergers Alliance as the
premium mid-market corporate finance
partnership in the world. We have also
seen a number of our member firms
working together on joint projects and a
record amount of success fees shared
between our member firms. With an
unprecedented number of opportunities
being worked on by the international
team, we expect to have the best year to
date in our history.
Ahead of the next Mergers Alliance
conference in Wiesbaden, Germany, the
home of our leading mid-market German
partner, EquityGate, a lot of work has
been done to provide attendees with
an outstanding agenda to ensure all
members are able to generate as many
incremental opportunities as possible
from the event. We have some top
executives from the Industrial sector
coming to talk to the group about their
international acquisition strategies and
Dr. Walter Döring, former Minister of
Economic Affairs of the German state
of Baden-Wurttemberg, will be giving
his views on the current status of the
German Mittelstand.
Stas Michael, Managing Director
Mergers Review
Southeast Asian M&A firm,
Khronos Advisory,
joins the partnership
Southeast Asia is becoming an increasingly important market for
overseas investors attracted by opportunities underpinned by
strong economic growth, a growing share of global foreign direct
investment and an expanding middle class.
With a young population of 600 million and
rapidly growing GDP per capita, companies
all around the world are using mergers and
acquisitions to benefit from, and exploit, the
increasing demand for their products and
expertise. Many businesses also see investing
in Southeast Asia as a platform to access the
Indian and Chinese markets.
Khronos, based in Bangkok and operating
in Southeast Asia offers its clients advice on
corporate finance, mergers and acquisitions,
and project development throughout the
entire course of the deal process. Since
2002, Khronos has advised on more than
40 assignments with a total transaction
value of around US$25bn. Its team is made
up of 9 investment bankers with extensive
international experience and in-depth
knowledge of various sectors. Khronos’
long-standing commitment to their clients and
to Southeast Asia provides them with unique
insight regarding business opportunities that
will be extremely valuable to Mergers Alliance
partners and clients.
“We are impressed
by Mergers Alliance
coverage and
activity, with offices
in 25 countries.
Our affiliation with
this powerful global
network will give us access to the most
important market places worldwide.
We look forward to working closely with
other MA partners, and we’re confident
that our relationship will be long-standing
and mutually beneficial.”
Jim Vorapon Ponvanit
Managing Partner
Welcome to the network
Akshay Sanghvi
India
Mr. Akshay Sanghvi joined
Mergers Alliance India,
as Partner, bringing with
him broad experience of around 25 years
in investment banking, private equity and
consulting. He previously ran his own firm,
called “Pristine Capital” which focused on M&A,
Consulting and Corporate Finance. His client
portfolio included JBF, Escorts and Firodia’s.
Before Akshay had worked as Co-Head (India)
for Communications Equity Associates.
Gabriel Gerenstein
CFA Latam
Gabriel, based in the Miami
office, is a Vice President at
Mergers Alliance Latam. He has
over 10 years of relevant experience in investment
banking, corporate development, and private
equity environments. Previously he was a senior
member of the Corporate Development & Strategy
team at Ryder System (NYSE: R) and also worked
for Environmental Capital Partners, a private New
York equity fund focusing on environmental and
cleantech industries.
John Patterson
USA
John Patterson, who joined
Mergers Alliance US as a
Managing Director within its
healthcare team, brings with him more than
20 years of investment banking experience
advising on over 100 transactions, primarily
in healthcare services. Prior to joining
Headwaters, Mr. Patterson had been
Managing Director at Donaldson, Lufkin
& Jenrette, Deutsche Bank, RBC Capital
Markets and Coady Diemar Partners.
Capital Partner + BlueMind = Capitalmind
Capitalmind is the merger between Capital Partners, Mergers Alliance’s
partner in France, and Bluemind, Mergers Alliance’s partner in the Benelux.
Two independent, owner-managed Corporate Finance Advisory firms –
both founded in 1999 – that hold leading positions in their own countries.
Focusing on mid-market deals up to €200 million, Capitalmind will be able
to offer its clients the vast experience of a strong European team of more
than 25 professionals located in four offices across Europe (Paris, Lyon,
s-Hertogenbosch and Amsterdam). Over the past five years Capitalmind’s
professional have closed over 150 deals.
Capitalmind is a major
step forward in providing
our clients with distinctive sector
expertise plus international M&A
and financing solutions. We
have worked closely with our
Dutch partners for several years and are very
enthusiastic about jointly building Capitalmind
and its business-oriented, entrepreneurial spirited
and long-term focused team of professionals.”
Borders are
fading. Some
70% of our deals are
cross border these
days, so it is vital to also
have size ourselves and
to have true international reach.
Our French colleagues are a true fit,
ensure international quality and - most
importantly - are fun to work with.”
Michel Degryck
Bart Jonkman
Managing Partner of Capitalmind Paris
Managing Partner of Capitalmind 's-Hertogenbosch
Two more awards
for the Mergers Alliance Network
Yamaichi Securities
Celebrates 10th
Anniversary
Until the Yamaichi
named disappeared
due to voluntary closure
in November 1997,
it provided corporate finance services for
many years as the main investment bank
for over 900 large Japanese enterprises.
Best Corporate Finance Adviser
Belgium
Catalyst wins the “M&A Corporate
Finance Advisor of the Year” at the
M&A Awards These prestigious awards, in
their 8th year, seek to recognise firms that
are delivering high quality advice on a repeat
basis as evidenced by client testimonials.
In the last 12 months, Catalyst has led
high profile deals such as Addison Lee,
Soreen, Williams Medical Supplies and
Powwownow sales and Inspired Thinking
Group, Wellbeing Software Group and
Foster + Partners buyouts.
Capitalmind Netherlands received the
“Best Corporate Finance Adviser –
Belgium” award in the 2014 International
Finance Awards. These awards celebrate
achievement, innovation and brilliance from
an international perspective, recognizing
individuals, teams and firms for their
contribution to client service and for their
experience and skills across key practice
areas and sectors.
In 2004, the some of the former Yamaichi
Securities members founded IBS Yamaichi
Securities. In 2010 this company joined
the Mergers Alliance partnership and in
June 2014, on the occasion of its 10th
anniversary, the company revived the
Yamaichi brand and renamed the company
Yamaichi Securities.
This new Yamaichi Securities is focusing
its main efforts on supporting Japanese
corporations in becoming “Millennial
Corporations”, that is, companies planning
to survive for the next 1,000 years.
Selected recent transactions
Capitalmind France assisted Tinubu
Square’s main shareholder in financing its
acquisition of the minority stake held by the
Belgian Private Equity Fund GIMV. Tinubu
Square is a fast-growing company engaged
in the provision of credit risk solutions to
corporates, credit insurers and brokers.
Capitalmind France advised Sofiprotéol,
a major agri-food group in France
(€7.2bn sales) in its participation in the
reshaping of the capital structure of the
world’s 8th-largest veterinary health
company, Ceva Santé Animale through
a new round of financing .
Ethica Corporate Finance advised 21
Partners – the Private Equity fund backed
by the Benetton family, in the acquisition of
Nadella, an Italian company with €45 m in
revenues and a leader in medium precision
systems for the linear motion industry.
Capitalmind Netherlands, which had advised
the shareholders of IS Group - Dutch
market leader in Cloud Computing and IT
Services - over many years on their Buy &
Build strategy, were the solo advisors to the
company on the acquisition of Amsterdam
based Cloud hosting provider WideXS.
Headwaters advised Centre Partners and
Housatonic Partners on their sale of Wind
River Environmental LLC , a waste services
company based in Hudson, MA, to RFE
Investment Partners, a private equity firm
based in New Canaan, CT.
IPOPEMA advised DNB Bank Polska,
a Polish bank from the DNB Bank ASA
(Norway’s largest financial services group)
on the disposal of Monetia Sp. a, bank
agency network with 550 outlets across
Poland that processes bill payments and
provides financial services for individual
clients.
Headwaters advised Qualfon, a leading
business process outsourcing service
provider active in five countries, on its
acquisition of Center Partners, a contact
center outsourcing company and a wholly
owned subsidiary of WPP, Inc., a British
multinational advertising and public
relations company.
NORGESTION advised Ibercom , the Spanish
telecom carrier on its acquisition of Másmovil,
a Spanish mobile voice operator focused on
providing low cost mobile voice services to
enterprises and individuals. Másmovil, with
sales of over €17m, complements Ibercom’s
mobile voice line of activity.
Catalyst advised the shareholders of
Williams Medical Supplies, the UK’s leading
supplier of medical supplies and services
to UK healthcare providers, on the sale of
the business to DCC Plc, in a deal valued
at £45m. The transaction facilitated a
successful exit of ISIS Equity Partners.
Ethica Corporate Finance advised Carraro
Group, an Italian manufacturer of axles
for the Automotive and Industrial Vehicles
sector, in the disposal of MiniGears, a
manufacturer of small gears for different
sectors, to Finatem.
Singhi Advisors provided expert advise on
the sale of Vacation Exotica, India’s top 5
players in the organized outbound tours
sector, to Balmer Lawrie, an Indian MiniRatna I Public Sector Enterprise with a
presence in the manufacturing and service
sectors.
Capitalmind Benelux advised the
shareholders of the recently merged
ASP4all Bitbrains Group on their sale of a
majority stake to British strategic investor
Vitruvian. The investment will help accelerate
integration of the two companies and to
facilitate international expansion.
Success Story Case Study
Foster + Partners
New publications
and research
BPO’s Sector Report
The global
business process
outsourcing
(BPO) industry
is moving, from
off-shore to nearshore and further
diversification
to value added
services. In
order to ensure
success and profits, BPOs need to have
scale, domain knowledge and the latest
technologies, while focusing on innovative
solutions and value added services.
Download full report
Catalyst Corporate Finance has advised
Foster + Partners, the world-renowned
architectural practice, on its buy-out of
3i Plc’s shareholding. This transaction
completes the practice’s transition of
ownership to a long-term partnership
model. Catalyst originally advised on the 3i
investment in Foster + Partners in 2007.
This investment supported Foster +
Partners growth through geographical and
service diversification, as well as enabling
its transition to a partnership model. Since
2007, Foster + Partners has won over 700
projects across 60 countries, has almost
doubled its sales in the US and has tripled
its activity in Asia.
Based on their in-depth understanding of
Foster + Partners, Catalyst was able to
advise on the optimum structure to ensure
that it maintains its culture while continuing
to develop globally; retain, attract and
reward the most talented individuals in
the market; and implement its design-led
integrated architectural and engineering
services strategies.
“The BPO market
continues to grow
with companies
outsourcing
more and more
of their services.
BPO providers
are actively
looking to acquire niche players with
innovative services and access to new
geographical markets to secure their
market position and margins.”
Jan Willem Jonkman,
Managing Partner,
Capitalmind Corporate Finance
Mergers Alliance is a partnership of award-winning corporate finance specialists who provide high-quality
advice to organizations which require international reach for their M&A strategies. We offer:
Advice on structuring and completing deals in a wide range of sectors
Identification of acquisition opportunities around the world
Information on sector trends and valuations
Access to corporate decision-makers and owners
USA
Brazil/Caribbean
Benelux
Italy
Russia
India
Canada
United Kingdom
France
Sweden
Turkey
Thailand
Mexico
Spain
Germany
Poland
South Africa
Japan
Headwaters MB
Farber
Financial Group
FGA Banqueros
de Inversion
BroadSpan Capital
Catalyst Corporate
Finance
Norgestion
www.mergers-alliance.com
Capitalmind
Capitalmind
Equitygate
Financial Advisors
Ethica Corporate
Finance
Experia Corporate
Finance Advisers
IPOPEMA Group
NorthStar
Corporate Finance
Odin Financial
Advisers
Bridge Capital
Singhi Advisors
Khronos Advisory
IBS Yamaichi
Securities
Stas Michael
Miriam Serrano
Managing Director
D Line: +44 (0) 207 881 2990
E: [email protected]
Marketing & Research Executive
D Line: +34 91 590 1660
E: [email protected]

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