Wise SGR. Wisequity Funds

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1 Wise SGR Wisequity Funds

2 Who we are Founded in 2000 by Paolo Gambarini and Michele Semenzato, Wise SGR specializes in the management of Private Equity closed-end funds investing in small and medium sized companies, with a special focus on Italy. Over the years, Wise SGR has achieved a unique position in Italy s Private Equity sector thanks to its management approach that considers its role not only as a supplier of capital, but also as a solid partner with whom to develop and build-up the company in accordance with the requirements of the shareholders and the management. The Wise SGR team provides support based on a variety of experience and knowledge acquired in the fields of strategic consultancy, investment banking and company management. The skills and know-how cover investment selection, assessment, negotiation and structure, as well as strategic and operating consulting services specific to the individual business. The team s professional expertise together with the excellent quality of the partners and investment committees of the investment funds enable Wise SGR to contribute pro-actively to the success of small and medium-sized companies, assuring a tailored operating and interactive approach to each specific business. Wise SGR is owned by the management who is the majority shareholder, with holdings by Banca Popolare di Milano - following the incorporation of BPM Private Equity SGR (September 2005) - and by IDeA Alternative Investments (January 2007). Wise SGR currently manages three funds: Wisequity I (2001) Wisequity II & Macchine Italia (2005) BPM Private Equity (2005, following incorporation) Wise SGR S.p.A., Milano - 2

3 Business Proposition Wisequity II e Macchine Italia, the current investment vehicle of Wise SGR, is the first fund in Italy to combine a specific focus on small and medium-sized companies with an expert and independent management team and a privileged access to investment opportunities in important sectors of the Italian economy, thanks to highly qualified partners and members of the investment committee. The fund partners are IDeA Alternative Investments (company established by Investitori Associati SGR, Wise SGR and the De Agostini Group), Banca Popolare di Milano and Federmacchine, the Confindustria (Confederation of Italian manufacturers) federation that groups together the eleven trade associations operating in the sector of goods for manufacturing processes. The fund, that totals 170 million, invests in Italian small and medium-sized companies with a sales turnover ranging between 20 million and 100 million. Special attention is given to the manufacturing and services market and to the sector of goods for manufacturing processes. Wisequity II makes two main types of investment: Leveraged Buy-Out: acquisition of majority holdings, via leverage Development Capital: subscriptions to increase capital stock in companies with high growth potential, clear competitive edge, distinctive assets and a top-rate management team The average investment size is 5-25 million euro in terms of equity value, and million euro in terms of Enterprise Value. Wise SGR S.p.A., Milano - 3

4 Type of Operations Leveraged Buy-Out Development Capital Market characteristics and position of the target companies Significant and stable cash flow Mature sectors and/or opportunities for better profit margins via improvement of operating efficiency Growth / development (investment in higher production capacity to accelerate growth) Financial restructuring (in presence of positive EBITDA) Opportunity for sector consolidation via acquisitions / mergers Typical operational characteristics Majority stakes, including coinvestment with other closed-end funds Minority stakes only when having distinctive expertise in the sector or in a specific operation Significant minority stakes Main financial partner The majority shareholder is typically the owner / Managing Director Typical investment period 3/4 years 4/5 years Reasons of operation for the seller Generational transfer Family or Management buy-out Exit from previous LBO Need to reinforce the capital structure Acquisition opportunities Wise SGR S.p.A., Milano - 4

5 Investment Approach Origin of operations Pro-active approach (not only upon notification) in specific sectors where growth and/or consolidation potential has been identified Preferential access channels via the sponsor network Links with professional firms operating in the area as informative partners (in districts, sectors..) or as mere intermediaries Assessment of the investment opportunities and due diligence Internal ability of the team to perform business due diligence Specialization in the assessment of the professional qualities of entrepreneurs and managers and verification of congruency with Wise SGR s management culture Active contribution by members of the Investment Committee Structure of the operations Ability of the team to design and use sophisticated financial structures without being conditioned by the size of the business Expert skills in management control systems Management/ monitoring of the investee companies Pro-active approach, with strong involvement of Wise SGR in the management of investee companies Daily contacts with entrepreneurs/managers Participation in all main operating decisions Implementation of management control systems Financial/strategic involvement in supporting growth for acquisition (follow-on) Divestment of stakes Identification of potential targets for sale of stakes Wise SGR in-house skills in management of exit process and selective involvement of outside advisors Wise SGR S.p.A., Milano - 5

6 The Management Team A Management Team with significant experience in Private Equity and a background with skills covering the entire investment/divestment processes. Paolo Gambarini, Partner Founding partner. 10 years experience in investment banking (CSFB and others) Fabrizio Medea, Partner at Wise SGR since years experience in management consulting (Bain & Co., Andersen) Roberto Saviane, Partner at Wise SGR since years experience in management consulting (A.A. & Co. and founder of Considi/Consiel). Senior manager and board member of several companies (Gruppo Ferrovie Stato S.p.A., and De Agostini Invest) Michele Semenzato, Partner Founding partner. 7 years experience in investment banking and management consulting (Bain & Co., ABN Amro M&A) Valentina Franceschini, Partner at Wise SGR since years' experience in investment banking (CSFB) Stefano Ghetti, Partner at Wise SGR since years' experience in investment management (ARCA and Fineco) Gianluca Boni at Wise SGR since years' experience in management consulting (A.T. Kearney) and 3 at a company (Piaggio) Maurizio Moroni at Wise SGR since years' experience in management consulting and 5 at a company (chemical sector, Italy and USA) Luigi Vagnozzi at Wise SGR since Previously in BPM Private Equity Wise SGR S.p.A., Milano - 6

7 The Investment Committee The Senior Advisory Board that combines experience and success in many industrial and services sectors: Paolo Ainio Former CEO Matrix Lino Benassi Chairman Italease Guido Corbetta Professor Bocconi University Roberto Drago Vice-Chairman De Agostini Group Gianmaria Gros-Pietro Chairman Atlantia Enzo Marchionni Former Director Banca Popolare di Verona Lorenzo Pellicioli CEO De Agostini Group Alberto Sacchi President Federmacchine Sergio Schieppati Vice Chairman Banca Akros Marco Turrina CEO Banca Akros Wise SGR Partners Wise SGR S.p.A., Milano - 7

8 Main Partners IDeA Alternative Investments Established in January 2007 by the Investitori Associati SGR and Wise SGR management teams together with the De Agostini Group, IDeA Alternative Investments SpA (IDeA SpA) aims to become a new international player in alternative investment and position itself as a leader on South and East European markets. Companies managing different types of funds will be grouped under IDeA SpA: at first private equity funds (Investitori Associati SGR, Wise SGR and others) private equity funds of funds (the newly established IDeA Capital Funds) and co-investment funds, followed by other financial high-return products (special situation funds, hedge funds, real estate investment trusts, mezzanine funds). At the end of 2007 IDeA Spa managed about 2 billion Euro of assets. Banca Popolare di Milano Founded in Milan in 1865, BPM is today one of the main Italian banks. Aiming to continuously improve the level of service offered, BPM s objective is to develop a qualified presence in the Private Equity sector supporting and taking part in a separate sector created by an independent management team whose investment target is fully consistent with the Bank s expertise in support of small and medium-sized businesses. Federmacchine Federmacchine is a Confindustria federation that groups together the eleven trade Associations of producers of goods for manufacturing processes. The member companies belong to a wide range of manufacturers. It includes 2,200 companies with over 150,000 employees, with a production value of over 23 billion. The Federmacchine Associations offer a wide range of value-added services to the member companies, both directly and via ad hoc subsidiary companies (organization of trade fairs, export, training and consulting services). This entails joint efforts with the individual members and places the Associations in a privileged position for identifying investment opportunities and introducing Wisequity II to potential targets. Wise SGR S.p.A., Milano - 8

9 Critical Success Factors A unique position in the Italian Private Equity sector Management Team Independent management team with significant experience and a proactive approach toward Private Equity Knowledge Extensive knowledge of small and medium-sized Italian companies in a diversified range of industrial sectors Wise SGR Wisequity Funds Deal Flow Proprietary deal flow in important sections of the Italian economy Sponsors Prominent organizations supporting the team Investment Committee High-profiled and experienced Investment Committee Focus Focus on small and medium-sized companies, a market with a lack of capital offered by independent asset management companies Wise SGR S.p.A., Milano - 9

10 Companies Acquired GERMANI Leading company in the transport of special products such as waste and chemical products. EURODIFARM Main Italian operator in the temperature controlled transportation and distribution of pharmaceutical and diagnostic products. BOGLIOLI Leading Italian company in the design and production of formal outer men s wear, especially suits, jackets and coats. MARTER Operator in the field of port logistics in Monfalcone (Trieste), in particular in the niche market of raw materials logistics for the paper industry. SPII Leading Italian company in the design and production of electromechanical systems and components for the railway market. STROILI ORO Largest direct retailer in the jewellery sector in Italy, in terms of both number of stores and total turnover. PITAGORA Italian company specialized in the market of consumer credit and in particular in loans to employees with repayments directly deducted from the salaries. TOTOBIT Electronic invoicing and payment systems for cellular phones, pre-paid cards, credit and debit cards. Co-leader in the Italian market. Wise SGR S.p.A., Milano - 10

11 Companies Acquired SELECTIVE BEAUTY Development of an operator in selective cosmetics distribution and licensing on the European market. At the time of sale it was operating in 9 European countries. HYPERPHAR Largest Italian outsourcer of clinical research for the pharmaceutical industry. OPENJOB Temporary work agency specialized in the supply of services to small and mediumsized companies. UTIL INDUSTRIES World leader in the production and sale of brake shoes and disc brake supports, with plants in Italy, Canada, Mexico and China. GPP & AGEPE Publishing group specialized in trade magazines for the distribution, food, entertainment, ICT, building, home & office industries. SELESTA INGEGNERIA Italian leader in the development of hardware and software for time and attendance data collection and access control. HSS HOLDING SANITA E SERVIZI Start-up of the CIR group (2003) with four operation areas: homes for the elderly, psychiatry, hospital management, rehabilitation. ING. CASTALDI ILLUMINAZIONE One of the main Italian players in the architectural / commercial and external lighting sector, a reference point for product innovation and design. Wise SGR S.p.A., Milano - 11

12 Contacts Wise SGR S.p.A. Foro Buonaparte Milan Italy tel fax Information How to reach us We are located close to Largo Cairoli, just a few minutes walk from Piazza Duomo or the Milano Cadorna station. From Malpensa airport: take the Malpensa Express and stop at Milano Cadorna station (approximately 40 mins.). The taxi ride to our offices takes approximately 5 minutes. From Linate airport: approximately 30 minutes by taxi. Wise SGR S.p.A., Milano - 12

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