Clairfield International Germany

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1 Company Profile Düsseldorf - Frankfurt Stuttgart 2012

2 Table of Content I. Clairfield International 3 II. Clairfield s M&A Advisory Services 10 III. Selected References 14 IV. Team 25

3 I. Clairfield International

4 Clairfield s 27 offices cover more than 30 countries USA Atlanta Charlotte Dallas Los Angeles New York South America Brasil APAC Australia China India Japan Singapore Europe Austria Belgium Czech Republic Finland France Italy Netherlands Norway Poland Portugal Switzerland Slovakia Spain UK Sweden Germany Düsseldorf Frankfurt Stuttgart Our Focus Mid-market Cross-border Senior Involvement Advisory board Clairfield is one of the leading independent M&A advisory firms in the mid-market segment, encompassing transactions with an enterprise value of up to US$ 500m. Our presence with 27 offices in over 30 countries allows us to add exceptional value to our clients in cross-border transactions. Clairfield s high ratio of senior partners and directors to junior level employees ensures that senior team members are significantly present in all phases of the transaction. In addition Clairfield International can rely on an extensive network of industry experts and a senior advisory board in each country. In Numbers 260 Corporate finance and M&A professionals across 30 countries 107 Transactions closed in 2011 ( 50% cross-border) $ 4.6bn Cumulative value of transactions closed in 2011 # 10 Ranked in Thomson Reuters M&A Advisory Firm in Europe # 13 Ranked in Thomson Reuters Worldwide Small-Cap (2011) 4

5 Assisting clients in middle-market, cross-border M&A transactions Advisory Services, the German part of Clairfield International is an independent, owner managed M&A advisory firm established in Today there are 25 M&A professionals in the German-speaking area, whereby the background of each of the eight partners includes experience at wellknown firms in consulting and industry. The international presence of Clairfield International allows our clients to access not only local knowledge of the regional office but also industry experts internationally. UK 5% Sweden 2% Spain 5% Poland 3% US 14% Australia 5% 2011 Transactions by Country Belgium 1% Brazil 2% Czech Republic & Slovakia 8% France 10% Germany 6% Fund raising & advisory 30% 2011 Transactions by Category Mergers & Acquisitions Buy side 25% International and domestic management and execution of sell-side mandates Design, initiation and execution of international and domestic acquisition opportunities Strategic alternative reviews Distressed M&A Capital Raising Financial sponsor transactions (MBO and LBO) Equity growth capital Debt advisory Project finance Private placements and IPOs Strategic Advisory Advisory on mergers and joint ventures Strategic advisory services, such as valuations and fairness opinions Financial restructuring advisory services Industrials 20% TMT 18% 2011 Transactions by Sector Business & financial services 22% Natural resources, cleantech & energy 10% Netherlands 18% Italy 9% India 13% Sell side 45% Healthcare 12% Food & agribusiness 7% Consumer goods 11% 5

6 Awards Recent M&A Accolades and Awards 2011 Worldwide Mid-Market Award Recognized as one of the top 30 M&A advisory firms worldwide US Mid-Market Award Recognized as one of the top 40 M&A advisory firms in the US One of the top 3 independent M&A advisory firms in the world by European Mid-Market Award Recognized as one of the top 20 M&A advisory firms in Europe Worldwide Small-Market Award Recognized as one of the top 15 M&A advisory firms worldwide Global Leading Firms Award Top Tier Banking M&A Deal of the Year Netherlands (3i acquisition of Action) Clairfield acted as advisor to 3i 2010 Business Advisory Firm of the Year Germany Corporate Advisory Firm of the Year Germany 2009 West European Investment Bank of the Year 2009 M&A Deal of the Year Europe (Balfour Betty acquisition of RT Dooley) Clairfield acted as advisor to RT Dooley 6

7 REPRESENTATIVE CLIENTS SUBSECTOR SECTOR Sector focus and expertise Business & Financial Services Natural Resources, Cleantech & Energy Consumer Goods & Retail Food & Agribusiness Healthcare & Life Sciences Industrials Technology, Media & Telecoms Business services Distribution Logistics Financial services Industrial Services Education Staffing Engineering Metals & mining Oil & Gas Renewable Energy Power Consumer goods Retail Hotels & gaming Real estate Furniture Luxury goods & services Cosmetics Food & beverage Food chain Food services Food ingredients Sports nutrition Agribusiness Medical devices Medical supplies Pharma Biotech Animal health Lab services & equipment Hospitals & clinics General industrials Building materials Test & measuring Automotive Machinery Packaging Chemicals Aerospace/Defense Digital & traditional media IT services IT consulting Hardware & software Telecommunications equipment 7

8 Selected Transactions in 2011 Client Counterparty Sector Date Comments WDC Manpower Group Staffing services April 2011 WDC sold a 74% stake to Manpower Arla Foods Polmlek Food November 2011 Arla Foods sold a production subsidiary to Polmlek BSN Glanbia Sports nutrition January 2011 Bio-Engineered Supplements & Nutrition was sold to Glanbia BDR Thermea Group Fluidmaster General Industrials September 2011 Opella was sold to Fluidmaster 3i Group Action Retail July i Group acquired Action Scotch & Soda Kenwood Consumer goods July 2011 Scotch & Soda was acquired by Sun Capital Partners Kenwood Viva Sante LM Farma Medical supplies August 2011 Viva Sante acquired a majority stake in LM Farma Clearwire Private investors Telecommunications March 2011 Clearwire sold Clearwire Poland Holdings to private investors GFT Technologies Asymo IT consulting June 2011 GFT acquired Asymo Prylos Doro Mobile apps July 2012 Prylos was sold to Doro France, a subsidiary of Swedish group Doro AB The Digital Partnership Martini Media Media July 2011 The Digital Partnership was sold to Martini Media Wallie Paysafecard IT services August 2011 Wallie was sold to Paysafecard Madrange Limougeoise de Salaisons Food July 2011 Madrange was sold to Limougeoise de Salaisons Bostwick Laboratories Metalmark Capital Lab services October 2011 Bostwick Laboratories completed a recapitalization with Metalmark Gilde Buy Out Partners Roompot Hotels & gaming June 2011 Gilde Buy Out Partners acquired Roompot 8

9 Selected Transactions in 2011 (cont d) Client Counterparty Sector Date Comments Argos Oil EQT Oil & Gas June 2011 Argos Oil sold the majority of the shares of its terminal division to EQT Alier Enel Green power Renewable Energy December 2011 Alier acquired a minority stake in Energètica de Rosselló, AIE from Enel Explosive Service Industrial group Metals & Mining December 2011 Explosive Services was sold to a leading European industrial group BDR Thermea Group Baymark Makina General Industrials May 2011 BDR Thermea Group acquired Baymark Makina Burkhardt + Weber Industrias Romi Machinery December 2011 Burkhardt + Weber was sold to Industrias Romi Cassina Packaging Group Greif Packaging July 2011 Cassina sold its 100% stake in the share capital of Fustiplast to Greif e-plast ESBELT General Industrials December 2011 E-plast management acquired 80% of the Company owned by ESBELT Trinoxia Outokumpu Oil & Gas September 2011 Trinoxia acquired a minority stake in OSTP AB, a division of Outokumpu Venameca Group / EMID CIWI Distribution March 2011 Venameca Group/EMID acquired Carolina Insulation & Wire, Inc. OMS Indo Asian General Industrials August 2012 OMS entered into a Joint Venture with Indo Asian Vega Consultoria Egis Engineering services September 2011 Vega Consultoria was sold to Egis Correl Rail SGS Industrial services June 2011 Correl Rail was sold to SGS Interparking Poland Car Parking Industrial services December 2011 Interparking acquired Poland Car Parking Accent Jobs Management Staffing Services December 2011 Accent Jobs sold its Spanish operations to management LMC ALMA Staffing services December 2011 LMC was acquired by ALMA 9

10 II. Clairfield s M&A Advisory Services

11 Clairfield s advisory services in sell and buy side projects Strategic assessment Market analysis Financial analysis Documentation and presentations Communication and process management Offer drafting and analysis Company financing Negotiations Other services Assist in reviewing and assessing the options available to successfully carry out an M&A transaction, and deliver recommendations on the best alternatives, the likely parameters of a transaction and the best path forward. Provide overview of the entire M&A transaction process, describing typical steps and potential pitfalls. Advice on the strategy and tactics, structure, process, timing and conduct of a transaction. Conduct extensive market analysis to identify key industry drivers and trends. Identification and approach of suitable prospective targets or buyers or investors. Assist in developing financial projections and advise on relevant valuation drivers. Perform detailed company valuation analyses implementing ad hoc valuation methodologies. Using publicly available information and/or information supplied by the target (in particular, recent historical and forward-looking financial information), prepare a financial analysis of the target in the context of a transaction. Prepare and review any documentation, including marketing materials, information memoranda, management presentations, vendor due diligence reports or similar documents regarding a transaction. In depth analysis of documentation provided by target or buyer. Coordinate public documentation filing, including press announcements or any regulatory filings required in connection with a transaction. Communication with client and its other advisors regarding the due diligence requirements for a transaction. Review and advise on possible strategic routes to follow. Coordinating and obtaining additional required information. Assistance in developing and determining bidding strategy and on drafting an indicative and final bid letter. Analysis of and feedback on offers received by prospective buyers. Advise on the merits and implications of any financing packages and analysis of financing options available to client to execute a transaction. Assist in preparing documentation required by lenders to obtain financing for a transaction. Assist with the negotiation of the price, terms and conditions of a transaction with target or buyer and its advisors. Assist Client in assessing options and merits thereof for any deferred consideration arrangements. Provide other services as client may reasonably request in connection with a transaction. Assist in the selection of other advisors (i.e.: lawyers, accountants and tax specialists). 11

12 s Advisory Committee To produce tailor made solutions to all of your questions and requirements, partners are being supported by an advisory committee. All members of the advisory committee have an ample network of contacts to open doors and facilitate transactions. Science Business studies / Controlling Prof. Dr. Lothar Grebe Patent law Prof. Dr.-Ing. Helge B. Cohausz Takeover / Insolvency Law Prof. Dr. Heribert Hirte Finance / Law Asset Management Dipl.-Kfm. Ekkehard Schwartzkopff Banking Dr. Karsten von Köller Company law / Fiscal law Dr. Alexander von Samson Corporate Finance Prof. Dr. Hans Waschkowski Private Equity Reinhard Löffler Corporate Management Capital market oriented corporate governance Dr. Karl Michael Millauer Change Management Wolfgang Gattermeyer Corporate planning Prof. Dr. Ulrich Hemel Entrepreneurship Prof. Dr. Christoph Müller Marketing/ Brand introduction Dr. Gerd Hänel 12

13 s Industry Experts collaborates with more than 30 industry experts who have held or currently hold positions as directors, executives, or other senior functions in prestigious companies. They have excellent knowledge of their industries, a wide personal network and can make valuable contacts for you. They know exactly what is important in your industry and can open doors that may remain closed to others. Automotive Industry Telecommunication / IT Services Media Industrial Services / BPO Commodities Automotive Subsupply Industries Dr. Lothar Bopp Dirk Echtermeyer Dipl. Wi.-Ing. Jürgen Köster IT Management and Consulting Bernhard Achter Telecommunication Andreas Bernhardt Bernhard Steimel Entertainment Arwed-Ralf Grenzbach Film funds Dr. Ernst-August Schnieder Publishers Axel Bartholomäus Brand-name products Christoph Kleinen Leasing Wolfgang Spahn Logistics Tilman Eckstein Quality Assurance Dr.-Ing. Gerwig Köster Commodities Bernhard Tubeileh Investment goods 1 Investment goods 2 Wholesale and Retail Consumer Products Health Care Aerospace Dr. Volker Behrendt Coalmining machinery Heinrich Korfmann Construction material Richard Ziegler Packaging machinery Jürgen E.A. Bouvier Plant construction Dipl.-Ing. Ulrich Urban Sanitary Dr. Lothar Bopp Steel construction Rolf Zinke Bakery products and confectionary Stefan von Klebelsberg Food retailing Jürgen Erbach Steel trading Prof. Dr. Lothar Grebe Cosmetics and tissues Dr. Gerd Hänel Cosmetic products Prof. Dr. Ulrich Hemel Medtech Stefan Hartl Pharmaceutical industry Frank Füßl 13

14 III. Selected References

15 Automotive Industry/ Machinery and Plant Construction 15

16 Industrial Services AWS Group AG erhält eine Finanzierung von Zukunftsfonds Heilbronn SynCap Partner hat das Unternehmen vom Business Plan bis zur Finanzierung exklusiv begleitet 16

17 TMT (1/3) Sale WiredMinds AG erhält eine Finanzierung von Creathor Venture SynCap Partner hat das Unternehmen vom Business Plan bis zur Finanzierung exklusiv begleitet BroadU erhält eine Finanzierung von Balderton Capital SynCap Partner hat das Unternehmen vom Business Plan bis zur Finanzierung exklusiv begleitet Ndevr was sold to Private investors Clairfield advised Ndevr

18 TMT (2/3) Datalogic merged with Sistac Clairfield advised both parties Blue Fox divested Pollux to Informal Capital Network Clairfield advised Blue Fox Technisyst Limited was sold to Kestrel Capital Clairfield advised Technisyst Dark Blue Sea was sold to Photon Clairfield advised Dark Blue Sea was sold to Clairfield advised Adimpo 2009 Systeam IT was sold to Brain Force AG Clairfield advised systeam SIDE International was sold to EastNets Europe, a subsidiary of EastNets Clairfield advised SIDE euroscript acquired DELT ICT Clairfield advised euroscript Symbol Luxury GmbH erhält eine Finanzierung von Privatinvestoren in CH und UK SynCap Partner hat das Unternehmen vom Business Plan bis zur Finanzierung exklusiv begleitet 18

19 TMT (3/3) Eos and Altawapa were sold to Webhelp Clairfield advised Teta 2008 Clairfield advised Eos and Altawapa 19

20 Health Care and other services 20

21 Industrial Goods Industry (1/2) 21

22 Industrial Goods Industry (2/2) 22

23 Wholesale and Retail 23

24 Distressed M&A aquired aquired Rau Maschinenbau GmbH Germann Kunststofftechnik GmbH a.s. advised the buyer advised the buyer Clairfield International Germany exclusively advised the insolvency administrator Clairfield International Germany exclusively advised the insolvency administrator aquired Arau Maschinenbau GmbH Pedex & Co. KG Clairfield International Germany exclusively advised the insolvency administrator Clairfield International Germany exclusively advised the insolvency administrator Clairfield International Germany advised the seller 24

25 IV. Team

26 Senior Partners Dr.-Ing. Lutz Lorenz Lutz started his professional career in 1977 in industry and subsequently worked in Investment Banking/ Mergers & Acquisitions for more than 30 years. His industrial experiences are backed by a couple of years within the former Mannesmann Group and with Kleinewefers Group of Companies as head of the central Marketing Department. Lutz went into banking in 1983 by joining WestLB as deputy head of the M&A Department. In late 1990 he became co-founder and MD of Banexi Deutschland GmbH, the German CF entity of the former BNP Group. Until 2001 Lutz also held senior positions at KPMG and as Executive Director at UBS Deutschland. He holds a degree in Mechanical Engineering (Dipl.-Ing.) from University of Karlsruhe as well a PhD. (Dr.-Ing.) in Ferrous Metallurgy from Technical University of Aachen/ Aix-la-Chapelle. lorenz@syncap.de Dr. Albert A. Schander Prior to founding SynCap, Albert worked as Executive Director/ Co-Head Corporate Finance for an international Investment Banking Group where he was responsible for international fund raising projects and public placements. Further milestones in his career were BAI (Deutsche Bank Group)/ Milan, KPMG/ Milan and Lehman Brothers/ Frankfurt, where he, among other responsibilities, advised on M&A transactions of international scope. Albert studied Law and Economics at the Universities of Passau, Pavia/ Italy and Munich. He is qualified as an attorney-atlaw in Germany and earned his law degree from Ludwig-Maximilians-University of Munich and his PhD from Friedrich-Schiller-University of Jena. schander@syncap.de Dirk F. Freiland Dirk has nine years experience in M&A and corporate finance. Prior to SynCap he was co-founder of a medium sized M&A company in southern Germany. Before he worked as senior manager at Accenture (formerly Andersen Consulting) in Strategy and Change Management where he was in his last function responsible for building up the M&A team and activities for Germany, Austria and Switzerland. Further milestones in his career were a small service company he build up from 20 up to 120 people within 14 months and Alcatal (Paris) where he worked in research and development. Dirk studied mechanical engineering, electronics and computer science of the university of applied sciences of Esslingen/Stuttgart and Paris. freiland@syncap.de 26

27 Senior Partners Dr. Wolfgang Knop Wolfgang was a member of the board of Langbein-Pfanhauser Werke AG, a medium-sized publicly quoted group of companies with a workforce of 3,700, from 1990 to 2004 (and acted as CEO as of 2001). At the beginning of his career Wolfgang worked between 1983 and 1990 for Arthur Andersen, ultimately taking a leading position in the servicing of large companies as a partner of the tax department. After his studies in economics at the University of Duisburg, Wolfgang worked as a research associate for the Chair of Accounting and Controlling and university lecturer in accounting at the University of Applied Sciences for Public Administration in Duisburg between 1980 and He received a PhD in business administration (Dr. rer. oec.) with honors in knop@syncap.de Christian Sanner Christian has more than 30 years of managerial experience in the automotive industry. During his career at DaimlerChrysler Group, Christian served various positions as a manager and managing director after joining the Corporate Audit department of Daimler-Benz AG in Between 1995 and 2002, he was a member of the board of Düsseldorf-based company Mercedes-Benz Lenkungen GmbH, which was spun off from the group and sold successfully to ThyssenKrupp under his supervision as commercial director. Christian has studied engineering and business economics in Berlin and Hamburg and graduated with a master's degree in business administration (Dipl.-Kaufmann) from the University of Hamburg. sanner@syncap.de Rolf H. Becker Rolf Becker has joined German partner SynCap Management as a Managing Partner. Mr. Becker started his career at German Degussa AG where he spent 10 years, 6 of them as Head of M&A where he closed a wide range of transactions in the chemicals and metals sector. After that he spent 5 years as Director Corporate Finance at ABN Amro in Frankfurt, advising numerous clients on cross-border transactions, especially in the European utilities sector. Before starting to work as an independent consultant in 2007, he was Head of M&A Transactions at RWE Solutions AG, where he successfully divested all non-core of subsidiaries of the Group. Mr. Becker holds a master of business administration from the University of Economics Vienna. becker@syncap.de 27

28 Senior Partners Darius Kianzad Darius Kianzad began his career in 1991 at the Treuhandanstalt in Halle and Berlin. Between 1993 and 2005, Mr. Kianzad held leading positions in renowned audit firms and investment banks such as PricewaterhouseCoopers in Frankfurt and Senior Vice President M&A at Sal. Oppenheim where he was in charge of M&A transactions in the energy and automotive sectors and also became co-leader of the Industrials segment. Between 2006 and 2010, Mr. Kianzad was a member of the Management board at ista Group, a leading international energy services company, in charge of Corporate Development/M&A and Regional head of the Emerging Markets. Darius Oliver Kianzad graduated with a master s degree in Economics (University of Heidelberg) and has completed a General management program at the University of St. Gallen and the Advanced management program at INSEAD. kianzad@syncap.de Andreas Piechotta Andreas Piechotta has been involved in international equity- and transaction business for almost 16years. As a partner of a known international M&A advisory company he has been responsible for business development in Eastern Europe and has managed to execute an amount of cross border transactions, e. g. in Poland, Hungary and Slovenia. Andreas Piechotta began his career 1994 at Pfeifer & Langen, a known sugar producing German company group. He supported there an amount of privatization processes in the Polish sugar industry. From 1997 to 2004 Andreas Piechotta focused on Private Equity activities of DEWB AG, a subsidiary of JENOPTIK Group.Born in Poland Andreas Piechotta studied law at the University Bayreuth/Germany with a particular focus on economy law. piechotta@syncap.de 28

29 Contact: Office Stuttgart, Managing Partner Dirk F. Freiland Office Stuttgart Mörikestr. 11 D Stuttgart Tel.: +49 (711) Fax: +49 (711) Office Frankfurt Friedrich- Ebert- Anlage 18 D Frankfurt am Main Tel.: +49 (69) Fax: +49 (69) Office Düsseldorf Tersteegenstr. 28 D Düsseldorf Tel.: + 49 (211) Fax: + 49 (211) duesseldorf@syncap.de International Offices Europe Americas Asia and Australia Clairfield Belgium Brussels Clairfield England Birmingham London Clairfield France Paris Clairfield Italy Milan Reggio Emilia Turin Clairfield Netherlands Amsterdam Clairfield Poland Warsaw Clairfield Sweden Stockholm Clairfield Schwitzerland Genf Clairfield Slovakia Bratislava Clairfield Spain Barcelona Madrid Clairfield Czech Republic Prague Clairfield Brazil Sao Paulo Fortaleza Clairfield USA Atlanta Charlotte Dallas Los Angeles New York Clairfield Australia Brisbane Sydney Clairfield China Beijing Clairfield India Ahmedabad Bangalore Mumbai Clairfield Singapore Singapore 29

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