AI Magazine August 2016

www.acquisition-intl.com • August 2016

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Keeping the Pace

Taxing Times

Resolving Tax Controversy We spoke to Ersin Nazali, managing partner at Nazali Tax and Legal Services, to find out more about the work they do, and get his unique insight into the many challenges facing the tax industry today.

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COPPERSTONE CAPITAL PAGE 54

STEPHEN LEE

A BARRISTER-AT-LAW ON THE CASE - PAGE 28

GOLDEN OPPORTUNITIES IN INDONESIA’S IP INDUSTRY AM BADAR & PARTNERS - PAGE 30

EASING THE STRAINS OF RELOCATION PERMIT PRO - PAGE 72

Based in Atlanta, Georgia, Andreas Jones has become highly renowned for his coaching and consultancy concerning small business growth and profitability.

In a nutshell, the company Andreas Jones Enterprise provides strategic business planning and development for small business owners and senior executives.

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A PERSONAL EXPERIENCE IN A STUBBORNLY IMPERSONAL INDUSTRY CRAZY WEB SERVICE LTD - PAGE 64

CORPORATE RENEWAL - WHY THIS IS VITAL TO BUSINESSES GLOBALLY THE FENNIMORE GROUP - PAGE 81

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GETTING IT RIGHT 3GC GROUP, INC. - PAGE 68

The Apprenticeship Marketplace

In an interview with the firm’s founder Fiona HudsonKelly (below), she reveals the remarkable story of how over the past five years she has turned Smart Assessor from a business in her own home, to a thriving and successful multi-million-pound venture.

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Editor’s Comment

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Welcome to the August edition of AI magazine, which now has a bold, new and even more striking design.

Acquisition International & Wealth & Finance INTL June Edition Online Learning

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According to Sam Pearse of Pillsbury Law, uncertainty percolated through to the M&A market in advance June 2016 A002970 of the EU referendum vote, with activity value in the UK dropping 51% on-quarter in the April-June period, from $38.9bn to $19.3bn.

Date:

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No information contained on or in this website constitutes investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice. Neither AI nor any of its associated entities are authorised to give financial advice of any nature nor are they regulated by the Financial Services Authority.

Prior to making any investment, AI recommends that any prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.

How to get in touch AI welcomes news and views from its readers.

Correspondence should be sent to; Address: Acquisition International, First Floor Suite F, The Maltsters, 1-2 Wetmore Road, Burton on Trent, Staffordshire, DE14 1LS. Phone: +44 (0) 1283 712447 Email: reception@acquisition-intl.com Website: www.acquisition-intl.com Find us on...

In the short amount of time post the vote, activity value has been recovering steadily with Thomson Reuters data showing that since 23 June, almost 60 transactions totalling $34.5 billion have been struck by foreign companies for British firms, compared with 79 deals amounting to $4.3 billion in the month leading up to the vote.

Paul Tate of Frost & Sullivan’s Manufacturing Leadership Council believes that, “the true impact of Brexit on British, European and global manufacturing companies looks set to be clouded by continuing uncertainty until the EU and the UK’s new government thrash out an acceptable plan of action for both sides – and that could take at least two years.”

Seyfarth Shaw LLP’s Real Estate Practice are optimistic in the post-Brexit world, stating that in the postBrexit environment, they “are working with institutional investors and traditional real estate investment companies to capitalise on opportunities in the U.K. and Europe.”

In other topical comment, 61% of global dealmakers think it is likely that other countries will leave the EU over the next year, however 38% do not anticipate a global recession because of the Brexit decision according to experts Intralinks, Inc. Expert Andy Moseby, corporate partner at technology and digital media law firm believes that many will see Brexit as an opportunity. “A fall in the value of sterling makes UK assets more attractive to dollarrich investors and buyers. Corporate tax rates are favourable and the legal and regulatory environment continues to be robust” he explains.

I hope you enjoy the fresh new look and the compelling array of features in this edition of AI magazine, which has significant focuses on legal and intellectual property issues, as well as the latest of mergers & acquisitions across the globe.

Jonathan Miles, Editor Jonathan.Miles@ai-globalmedia.com

READ THIS MONTH’S CPD ACCREDITED ISSUE TO GAIN 6 CPD POINTS

Inside...

LEGAL

INTELLECTUAL PROPERTY

Brexit Prompts Public & Businesses to seek Legal Advice from Barristers 8

Online Copyright Infringement down as People turn to Streaming 22

Leading the Legal Landscape 10 Kümmerlein Rechtsanwälte & Notare

Climbing the IP Ladder 23 IP TRUST

Serious Fraud and White Collar Crime 11 The Chambers of Andrew Trollope QC and Richard Christie QC

Brazil’s Go-To Boutique Law Firm 24 Maristela Basso Advogados

Expertise Abogados & Consultores 12 Expertise Abogados & Consultores

Australia’s Leading Intellectual Property Practitioner Firm 26 Patentec

No Stone Unturned 13 Lewis Nedas Law

Cruz Marcelo & Tenefrancia 27 Cruz Marcelo & Tenefrancia

A Personal Touch 14 Soteris Pittas & Co LLC

Stephen Lee 28 A Barrister-At-Law on the Case

An Arbitrator in Demand 16 Piotr Nowaczyk

Golden Opportunities in Indonesia’s IP Industry 30 Am Badar & Partners

Building Upon Success 17 Seyfarth Shaw LLP You Can Go Your Own Way 18 PrimePartners Staying Focused on the Customer 19

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A Case in Point 32 Beyerlein Rechtsanwälte M&A

Masumali Meghji

The International M&A Market - Trends in Chinese Investment 34

Win Win Win 20

Sector Talk 35

Hollard

Global Deal Volumes Will Fall Until UK

Contents

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48 Taxing Times - Resolving Tax Controversy

The Apprenticeship Marketplace

59

28 Stephen Lee - A Barrister -At-Law on the Case

Decides on EU Exit Strategy 38 What will the UK’s Post-Brexit Landscape mean for M&A? 39 Strategic Acquisitions to Drive Wealth Management M&A in H2 2016 40 Cavendish Corporate Finance Business Valuations 42 IBG Business TAX Complex tax Environment is Quite Literally, ‘Taxing’ the Brains of more than 850,000 UK SME Leaders 44 Impact of passage of the GST Constitutional Amendment Bill 45 Volatility and Complexity in Tax Rules 46 AVELLUM Taxing Times - Resolving Tax Controversy 48 Nazali Tax and Legal Services Starting out in Business 50 Cabinet François Provenchere INVESTMENT European High Yield is Still an Attractive Yield play, says NN Investment Partners 52

30 Golden Opportunities in Indonesia’s IP Industry

Global Real Estate Returns 4.2% in July and Outperforms Equities by over 10% year to date 53 Experience, Foresight and the Commitment to Deliver 56 The Richland Companies MANUFACTURING Brexit: Ten Things Manufacturing Companies Should Know 58 Thrilling the Customers - Igniting Their Interest 59 Channel Products Glass Rite – Providing Only the Best 60 Glass Rite SUPPORT SERVICES & TECH A Post-Brexit View of the UK High-Tech Sector 62 Cognitive Intelligence Will Accelerate Innovation for Years to Come 63 A Personal Experience in a Stubbornly Impersonal Industry 64 Crazy Web Service The Apprenticeship Marketplace 66 Smart Assessor

Thrilling the Customers - Igniting Their Interest

Getting IT Right 68 3GC Group On the Cutting Edge 69 MOURI Tech Food for Thought 70 UHS Group Easing the Strains of Relocation 72 Permit Pro Food for Thought 74 Kitchen Thyme UK ECONOMIC AFFAIRS The Isle of Man: Successes and Challenges 76 The Best in the Business 78 fds Director Services Report Shows Companies Using Training to Foster Strong Workplaces, but are Missing the Board and Millennials 80 Corporate Renewal - Why this is Vital to Businesses Globally 81 the Fennimore Group Keeping the Pace 82 Andreas Jones Winners’ Directory 84 Acquisition International - August 2016 3

News: from around the world

Equiteq Advises on Merger of PMsquare’s Australian and Asian Consulting Businesses with Cornerstone Equiteq announced on 11th July that it’s client, PMsquare has merged its Australian and Asian businesses with Cornerstone Performance Management.

Both organisations are IBM Premier Business Partners with a focus on the Business Analytics solution set. However, the primary geographical focus of PMsquare is in Singapore and the Philippines, whereas Cornerstone has traditionally been focused on the Australian market. PMSquare’s Australian operations will be absorbed directly into Cornerstone Australia in the coming months, whilst the Asian region will retain PMsquare’s branding as part of the Cornerstone Group.

The merged Cornerstone and PMsquare business creates a strong regional player in the Asia-Pacific market, delivering budgeting and forecasting, business intelligence and information management solutions. Piers Wilson and Hamish Dwight from Cornerstone will head up the combined operations, while Carsten Brandt and Jason Rankin from PMsquare will implement Cornerstone’s ambitious growth strategy in Asia. In doing so, they will be leveraging PMsquare’s established footprint and

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reputation in the region, as exemplified by the SBR International Business Award for Consulting that PMsquare Singapore have received for the third consecutive year.

Piers Wilson, director of Cornerstone Group said: “We are extremely pleased to be joining forces with PMsquare. They have a talented team and combining with them allows us to continue our growth in Australia as well as embark on a more aggressive growth strategy in Asia. Traditionally, PMsquare and Cornerstone have concentrated on delivering solutions to different industry segments and regions, so it was a logical step to merge our organisations and take Cornerstone’s solutions to the Asia Pacific market. This dramatically increases Cornerstone’s footprint in the Asia Pacific region and allows us to bring innovative solutions to a broader range of organisations in the region.”

Carsten Brandt added: “Jason and I are very excited to join Cornerstone and continue developing with

them an Asian operation with large business opportunities to be delivered from Singapore and the Philippines. I am grateful to Equiteq for the valuable support their APAC team have provided throughout the process, from the preparation phase to the closing of the deal.”

Pierre Briand, Equiteq’s managing partner for Australia and New-Zealand commented: “I am delighted to see that since we opened an office in Australia last January, our first deal is a great example of an Australian business having successfully delivered on a growth strategy in Asia.

Equiteq APAC is proud to have contributed to this success story for the owners, with more to come through the joining of forces with Cornerstone.” www.cornerstone.com.au www.pmsquare.com.au www.equiteq.com

NEWS / From Around The World

Acquisition of Atrium Expands BSI Environmental, Health, Safety and Advisory Services Footprint to the US East Coast BSI, the business standards company, has acquired Reston, Virginiabased Atrium Environmental Health and Safety Services LLC to expand its environmental health and safety (EHS) Services and Solutions footprint to the US East Coast.

The 25 employee Atrium team will become an operating subsidiary of BSI’s Professional Services business and will function under the name, ‘Atrium Environmental, Health and Safety Services – a BSI Professional Services company’.

our customers and employees. The collaborative and customer excellence culture at BSI is a great strategic fit for Atrium and we’re looking forward to delivering our ambition of being BSI’S first EHS acquisition on the East Coast”.

Atrium provides a full range of on-site and project based occupational safety, industrial hygiene and environmental compliance services to clients in the pharmaceutical, facilities management, government and shipbuilding sectors in the National Capital region (Virginia, Maryland and Washington DC).

BSI Americas president, Todd VanderVen observes: “Atrium is an exciting addition to BSI’s rapidly expanding EHS Services and Solutions division.

Their extensive EHS knowledge and experience of delivering the highest quality service complements our existing advisory and assurance businesses.

This delivers on our strategic objective of becoming the leading provider of EHS advisory services in the US and in the long-term, internationally.

This acquisition will provide a first East Coast location to complement BSI’s January 2015 acquisitions of EORM on the West Coast, and Hill Country Environmental in Texas, now called BSI EHS Services and Solutions. The Atrium acquisition also reinforces BSI as the authority in Operational Resilience in the EHS sector having been the originator of the internationally recognised standards for Environmental Management (ISO 14001) and Occupational Health and Safety (OHSAS 18001).

“Our rapid expansion in the US EHS Services and Solutions market is greatly enhanced by the addition of Atrium’s highly-regarded expert team of EHS professionals on the East coast,” states Glenn Fishler, CEO of EHS Services & Solutions at BSI. “As a specialist in the provision of EHS Consulting and Services in the form of on-site services, industrial hygiene, safety and environmental regulatory advice, and EHS training, the Atrium team strengthens BSI’s ability to help clients embed excellence and foster improved EHS performance.”

Dan Chute, president at Atrium states: “I am so excited for our clients and employees. Becoming part of BSI’s EHS Services and Solutions team will give our clients and employees access to over 200 additional world class EHS consultants from BSI’s EHS Services and Solutions team, plus the services of over 3,500 BSI employees worldwide. This will result in an enhanced business experience for

“Operational Resilience is a crucial element of overall Organisational Resilience, allowing business leaders to adapt and grow within an increasingly environmentally and safety conscious world.

Atrium’s world-class EHS consultancy complements BSI’s wider offer and will help further unlock excellence for our clients worldwide.”

Howard Kerr, chief executive at BSI concludes on BSI’s acquisition strategy: “Over the past decade BSI has grown our client base organically, increased our global footprint and expanded our portfolio offering to match today’s business needs.

Operational Resilience is one of our core strategic domains - along with Supply Chain Resilience and Information Resilience - and this acquisition reinforces our commitment to our overall approach of encouraging Organisational Resilience across our clients. To ensure we remain a resilient organisation – one that is agile, adaptive, robust and competitive - we have even greater ambitions for growth which will include further quality acquisitions like Atrium.”

Terms of the acquisition were not disclosed. To learn more, please visit www.bsigroup.com and www.atriumehs.com

Major Acquisition for Artexis Easyfairs in the Netherlands Artexis Easyfairs, the Brussels-based organiser of events and venue manager, has significantly increased its portfolio of venues and events with the acquisition of Evenementenhal, which organises a total of 78 events and operates 3 venues in The Netherlands. Artexis Easyfairs now has a portfolio of 11 venues (240,000 sqm) and more than 200 events.

“Evenementenhal is a perfect fit with our existing business for two main reasons. Firstly, Evenementenhal is one of the leading Dutch event companies and Artexis Easyfairs already has a strong presence and excellent reputation in the Benelux. Secondly, Evenementenhal’s events are based on a highly successful all-in concept,” said Eric Everard, founder and CEO of Artexis Easyfairs.

“The acquisition takes us to a new level, which will further increase our market visibility as one of the world’s leading companies in the exhibitions, meetings and events industry,” added Everard.

In 2015 Evenementenhal attracted 10,000 exhibitors and 600,000 visitors to events in Hardenberg (owned), Gorinchem (owned) and Venray (leasehold) in The Netherlands and Bad Salzuflen (leasehold) in Germany. It organises 78 events, which are mainly business-to-business trade fairs in market sectors such as agriculture and horticulture, transport and logistics, automotive, shipping and building and construction. Until its acquisition by Artexis Easyfairs, Evenementenhal was jointly owned by H2 Equity Partners Fund, ABN Amro Participaties and two minority shareholders.

“This is a great match and I am looking forward to working with Eric’s team to grow our events and exhibition halls business,” commented Angelique Klar, managing director of Evenementenhal.

Through the acquisition of Evenementenhal, Artexis Easyfairs will now employ 700 team members to organise more than 200 events with 26,500 exhibitors annually, and will manage 11 venues with a net floor space of 240,000 square metres. Artexis Easyfairs enables communities to ‘visit the future’ at must-attend events that anticipate their needs and present solutions in the ideal format.

For more information, visit www.artexiseasyfairs.com

Acquisition International - August 2016 5

News: from around the world

Acquisition of becker&mayer The Quarto Group Inc. (LSE: QRT), the leading global illustrated book publisher and distribution group, announced in August that its wholly-owned subsidiary, Quarto Publishing Group USA, Inc. (“the Company”), has acquired the publishing assets of becker&mayer LLC (“becker&mayer”) from McEvoy Group, the US-based independent trade publishing group.

The assets of becker&mayer’s book publishing group and its SmartLab book-plus [1] and toy business will become Quarto’s fifth US creative hub, based in Bellevue, WA, alongside its current publishing operations in Minneapolis, the North Shore of Boston, Southern California and New York City.

Quarto is paying a consideration of $9.8m together with a working capital adjustment payment capped at $1.0m and further deferred contingent consideration of up to $1.25m.

An initial $2.3m is payable in cash and the Company has issued $7.5m in non-interest bearing promissory loan notes to McEvoy Group.

The loan notes are repayable in three equal instalments of $2.5m each on 1 January 2017, 8 August 2017 and 8 August 2018. The working capital adjustment payment of up to $1.0m is payable in further cash payments of up to $0.5m each, payable on 31 July 2017 and 31 July 2018. The deferred contingent cash consideration of up to $1.25m is dependent on the profitability of the SmartLab’s business in 2018 and 2019.

The transaction is being financed out of the Group’s existing $90m multi-currency debt facility and is expected to be earnings enhancing in the first full year of ownership.

Headquartered in Bellevue, WA, becker&mayer was founded in the 1980s and is known for its expertise in creating unique publishing formats and developing successful series for publishing partners worldwide.

In the year ended 31 December 2015, becker&mayer reported revenues of $19.4m, earnings before interest tax, amortisation and depreciation (“EBITDA”) of $0.3m and a net loss before tax of $1.5m that included amortisation and depreciation of $1.8m.

The EBITDA of the book publishing group business was $1.4m whilst the SmartLab business recorded a loss before interest tax, amortisation and depreciation of $1.1m. Gross assets were $25.0m.

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The acquisition of the becker&mayer assets is consistent with Quarto’s stated strategy to grow both organically and by acquisition, and will further enhance the Group’s offering in both adult and children’s publishing, particularly in the USA. Approximately 50% of becker&mayer’s business, including SmartLab, is categorised as children’s publishing, which increases Quarto’s children’s publishing revenues by close to 30%. The acquisition means that Quarto’s US revenue will account for circa 45% of total group revenues. The SmartLab business will be re-engineered to include an emphasis on producing book-plus products that maximise the reach of Quarto’s sales channels worldwide.

Commenting on the acquisition, Marcus E. Leaver, chief executive of the Quarto Group, said: “We have a close working relationship with becker&mayer and we admire their people, creativity and specialist knowledge.

We approached them because we have long felt that they would make a good cultural and strategic fit. We are delighted that McEvoy has agreed to sell the business to us as it will be a new and exciting addition to Quarto’s portfolio in the USA. We will leverage its unique publishing assets across the world through our global operational, sales and marketing platform, enhancing value for shareholders within the first full year.”

Jack Jensen, president of The McEvoy Group, added: “becker&mayer has been a cherished McEvoy Group asset over the past 11 years. As we looked to the future, we became convinced that the extensive customer base and global market reach of The Quarto Group was perfectly positioned to help becker&mayer reach the next level of growth. We are pleased that the accomplished becker&mayer team will be an important part of The Quarto Group’s future”.

[1] Books containing special features, packaging or additional products.

For more information, visit quartoknows.com

NEWS / From Around The World

MUFG Investor Services to Acquire Rydex Fund Services from Guggenheim Investments In late July, MUFG Investor Services, the global asset servicing group of Mitsubishi UFJ Financial Group, and Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, today announced that they have entered into an agreement in which MUFG Investor Services will acquire Guggenheim’s 1940-Act mutual fund administration business, Rydex Fund Services.

The transaction is expected to close in the fourth quarter of 2016, subject to regulatory approvals and customary closing conditions. When consummated the deal will complete MUFG Investor Services’ full service offering for investment managers, adding regulated 1940 Act mutual fund and exchange traded fund services expertise to a comprehensive service proposition, which spans single manager, fund of hedge fund, private equity and real estate funds, pension funds and traditional asset managers.

The acquisition when completed will add $52 billion to MUFG Investor Services’ assets under administration (AuA) bringing total AuA to $422 billion. The assets serviced by Rydex Fund Services primarily consist of Guggenheim and Rydex branded mutual funds, exchangetraded products and closed-end funds, for which Guggenheim Investments will continue to serve as investment advisor.

Junichi Okamoto, group head of trust assets business group, deputy president, Mitsubishi UFJ Trust and Banking Corporation said: “The acquisition of Rydex Fund Services will strengthen our position as an industry-leading administrator and is an important part of our commitment to supporting the growth of new clients and extending our services to existing clients. This deal will add capabilities which will allow us to respond more dynamically to our clients’ changing needs, enabling them to fully realise new market opportunities and support their growth ambitions.”

John Sergides, managing director, global head, business development and marketing, MUFG investor services, said: “Demand for liquid alternative strategies has risen significantly in recent years as retail investors recognise the return potential and diversification benefits relative to traditional asset classes. Alternative fund managers are increasingly establishing ‘40-Act fund structures to access this growing market.

We recognise the challenging environment our clients face and continue to enhance our offering to support the strategies that managers must deliver, both now and in the future. Our complete offering will allow us to become the partner of choice for alternative fund managers of all sizes, strategies and structures.”

Nikolaos Bonos, head of Rydex fund services, commented: “MUFG Investor Services will provide new opportunities for us to extend and enhance our ‘40-Act fund administration experience for the benefit of our current and future clients. Aligning our team within the MUFG Investor Services group will enable us to respond to rising demand for liquid alternatives with a comprehensive service proposition that supports the development of investment managers’ businesses.”

Upon completion, MUFG Investor Services will be acquiring all of Rydex Fund Services’ business and intends to provide a seamless transition for its employees and clients. Terms of the deal are undisclosed.

Please visit www.mufg-investorservices.com [1] Guggenheim Investments total asset figure is as of 06.30.2016. The assets include leverage of $11.4bn for assets under management and $0.5bn for assets for which we provide administrative services.

Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Real Estate, LLC, Transparent Value Advisors, LLC, GS GAMMA Advisors, LLC, Guggenheim Partners Europe Limited, and Guggenheim Partners India Management.

The transaction will not affect Guggenheim Investments’ total assets.

Heidrick & Struggles Acquires Distinguished London-Based JCA Group JCA Group has premium reputation in Boardrooms; will serve as catalyst for growth in premium, senior-level executive search and advisory services for Heidrick & Struggles in UK. Heidrick & Struggles (Nasdaq: HSII), a premier provider of executive search, leadership consulting and culture shaping worldwide, announced earlier this month that it has acquired JCA Group, a London-based executive search advisory firm.

JCA Group is led by founding partners Jan Hall and Emma Fallon, and has 40 employees, including eight partners.

“JCA Group is the preeminent Board and CEO recruiting boutique in the UK with an outstanding reputation as a senior talent and leadership advisor— especially among the FTSE 100 and 250,” said Tracy R. Wolstencroft, Heidrick & Struggles’ president and chief executive officer.

“This acquisition further accelerates the growth of our global business and immediately enhances our brand in the boardrooms and C-suites across the UK.” “Jan is a dynamic leader who has surrounded herself with the most diverse and talented consultant team in the UK,” Wolstencroft said. “She has instilled a client focus within the JCA Group that is highly consultative and advisory, and a culture that is open, collaborative and very team-oriented.”

Hall becomes Chairman in the UK for the newly combined Heidrick & Struggles/JCA Group. In this capacity, she will lead the CEO & Board Practice in the UK and serve as co-head of the firm’s CEO & Board Practice in Europe, with Sylvain Dhenin.

“All the JCA Partners are thrilled with this opportunity to continue to pursue our passion of serving clients in the Boardroom while expanding our market impact as part of the global Heidrick & Struggles platform,” Hall said. “We look forward to bringing a broader suite of leadership consulting and culture shaping services to our existing clients, while also serving new clients as they seek transformational leaders in these complex and uncertain times.”

Visit www.heidrick.com to find out more.

Acquisition International - August 2016 7

LEGAL / Brexit Prompts Public & Businesses to seek Legal Advice from Barristers

Brexit Prompts Public & Businesses to seek Legal Advice from Barristers New figures from the Bar Council’s Direct Access Portal, the free to use ‘find a barrister’ website, show that the public and businesses are turning to barristers to help them with a wide range of legal issues. earch statistics from a sample of more than 9000 individual searches made between 1 January and 1 August 2016 reveal that the top 20 most common search terms on the Portal, which lists barristers who have undergone additional training in order to deal directly with clients, revealed that employment issues, commercial matters and EU law were amongst the most popular searches this year.

Searches for intellectual property, personal injury and disability discrimination were also popular, as was banking.

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Chairman of the Bar, Chantal-Aimee Doerries QC, said: “These findings give some indication of what the consumer, whether that be an individual member of the public or a small or medium sized business, are seeking the services of a direct access barrister for. The broad range of popular searches in the top 20 alone show the public are looking to barristers for all types of legal support.

“We can only assume that the reason EU law is so high up the rankings (fourth) is because of the uncertainty of Brexit. Although the main reason anyone is seeking the services of a barrister in the first place is because they are uncertain of their position in relation to the law, whether that be an employment issue, land dispute, or a matter affecting their business.

“It is encouraging to see that growing numbers are turning to direct access barristers for legal help.

Traditionally, the public would go through a solicitor in order to access the services of a barrister. Direct access allows anyone to go straight to a barrister where their case or legal problem is suited to that type of approach. In some cases, it might be more appropriate for someone to go to a solicitor who can subsequently instruct a barrister if needs be.

The point of direct access is that it creates more choice for those with a problem who need a legal professional to help them and allows them access to the specialist skills of a barrister.”

The top 20 most popular searches on the Direct Access Portal were, in order: 1. Civil; 2. Property; 3. Employment; 4. EU; 5. Professional Negligence; 6. Wills/Inheritance; 7. Administrative;

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8. Landlord and tenant; 9. Commercial; 10. Land; 11. Intellectual Property; 12. Probate; 13. Banking; 14. Disability Discrimination; 15. Mental health; 16. Personal injury; 17. Court of Protection; 18. Trusts; 19. Defamation; 20. Medical Negligence.

Mid table searches on the Portal included even the less common areas of law, such as Ecclesiastical law and Animal Welfare law. The least popular search was Transport law. There are 70 different areas of law to search from on the Portal and multiple searches can be made. The Portal allows consumers and businesses to search for a barrister based on their areas of legal expertise and location in England & Wales.

The Bar Council represents barristers in England and Wales. It promotes: • The Bar’s high quality specialist advocacy and advisory services; • Fair access to justice for all; • The highest standards of ethics, equality and diversity across the profession, and; • The development of business opportunities for barristers at home and abroad.

The General Council of the Bar is the Approved Regulator of the Bar of England and Wales. It discharges its regulatory functions through the independent Bar Standards Board Website: www.barcouncil.org.uk

1606CG56

Kanokanga & Partners

A Professional Law Firm established in 1991 Located in Harare Zimbabwe

justice@kanokangalawfirm.net

www.kanokangalawfirm.net

LEGAL / Distinguished in Dispute Resolution 2016 - ‘Arbitrator of the Year, Germany’: Leading the Legal Landscape 1608BW01

Leading the Legal Landscape Kümmerlein Rechtsanwälte & Notare is a leading law firm in the Ruhr region of Germany. The firm was founded almost 90 years ago, with its head office in Essen. We offer a wide range of premium level legal advice in the field of business law, with almost 50 lawyers working at our firm, of which 26 are partners.

Company: Kümmerlein Rechtsanwälte & Notare Name: Dr. Sebastian J. M. Longrée Email: Sebastian.Longree@ kuemmerlein.de Web: www.kuemmerlein.de Address: Messeallee 2, 45131 Essen Phone: +49 201 1756-622/-643

Distinguished in Dispute Resolution 2016 - ‘Arbitrator of the Year, Germany’

he firm distinguish ourselves from our competitors through our unique blend of sticking to our traditional roots, yet at the same time constantly innovating and developing our services. Fundamentally, we base our relations both among ourselves and with our clients on the values of trust and respect.

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Kümmerlein Rechtsanwälte & Notare continuously complement the capacities grown within our firm, by successfully integrating colleagues from large top law firms. We are large enough to successfully handle and execute big and complex projects, while at the same time still remain flexible enough to respond to the individual needs of our clients.

The core business of Kümmerlein is the general provision of legal advice on corporate matters to a wide range of clients on the basis of a lasting and trustful relationship. Every advising partner has long-term experience in the fields of formation of corporations, drafting of articles of association, disputes on shareholders’ level, restructuring and entity transformation as well as assistance with annual general meetings, to name just a few.

“We are large enough to successfully handle and execute big and complex projects, while at the same time still remain flexible enough to respond to the individual needs of our clients.”

Likewise, Kümmerlein has a long and comprehensive track record of advisory services for medium-sized national and cross-border M&A transactions, with transaction volumes up to the upper triple-digit million range. Hence, all our team members can rely on long-term experience from rendering advice in numerous company transactions, from drafting and negotiating preliminary agreements and performing legal due diligence up to drafting, negotiating and providing assistance for the execution of any kinds of company acquisition contracts, joint ventures and other cooperation agreements.

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Alongside this expertise, the core competencies of our Kümmerlein Rechtsanwälte & Notare also include the provision of advice on commercial and civil law matters. Drafting, negotiating and executing all kinds of commercial contracts and agreements is a major part of our commercial and civil law practice. This includes, in particular, contracts in the fields of distribution, transport, services, supplier relations as well as banking and tenancy law. Moreover, we provide comprehensive services in all spheres of commercial law, especially in matters of brokers’ and commercial agents’ law.

In terms of disputes, we provide our clients with comprehensive advisory services in both litigation and arbitration. Kümmerlein has vast experience in representing clients from various industrial and services sectors before state courts and arbitral tribunals, and our activities focus on conducting complex legal disputes for our clients in all matters of economic and corporate law. To this end, we are frequently engaged in reviewing and analysing relevant facts, providing legal assessment and verifying opportunities of extrajudicial settlement in complex cases prior to proceedings.

While the foundation of dispute resolution may remain in litigation, court action is increasingly supplemented by a variety of methods of alternative dispute methods, especially in the civil law sector.

In the case of cross-border commercial-deals, the private-arbitral jurisdiction is accepted and established as an efficient alternative to the state court. Furthermore, for example, the German national legislation implemented the duty to use ADR-methods by an act dated 19.2.2016 (‘Gesetz zur Umsetzung der Richtlinie über alternative Streitbeilegung in Verbraucherangelegenheiten’).

Another prevailing trend is the strong growth of D&O (Directors and Officers) matters in the recent years.

Increasingly, directors and supervisory bodies are held liable for allegedly wrongful conduct. In addition, another sector of growth are cases with regard to compliance matters.

Ultimately, the firm’s clients demand increasingly fast and cost-effective advice. Thus, it remains our first concern to grow by integration of the best qualified young lawyers into the firm. We are convinced that, apart from necessary technological changes, our people are the most valuable asset.

LEGAL / Serious Fraud and White Collar Crime

Name: John Pyne, Senior Clerk Company: The Chambers of Andrew Trollope QC and Richard Christie QC Email: chambers@187fleetstreet.com Web: www.187fleetstreet.com Address: 187 Fleet Street, London, EC4A 2AT Phone: 020 7403 7430

Serious Fraud and White Collar Crime Chambers is a leading set specialising in criminal and regulatory work, providing representation at every level for the Prosecution and the Defence, in both publicly and privately funded instructions. Many members of chambers can also be instructed directly through the Public Access Scheme. We spoke to John Pyne, who reveals the firm’s involvement in high profile and leading cases and the specialist knowledge of his staff. hat does your client base look like?

Members of Chambers are regularly instructed in high profile and leading cases. The set has gained a reputation for excellence in its advocacy and advisory work, offering a first class service to professional and lay clients alike.

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60-Second Interview

Chambers has particular expertise in serious fraud and white collar crime, as well as homicide, terrorism, sex offences, revenue cases, money laundering and all forms of serious organised crime.

A wealth of experience is also offered in areas related to the criminal law, and specialist representation is offered in respect of VAT tribunals, police discipline, professional regulation, trading

standards, courts-martial, judicial review, health and safety and sports law.

What factors make your firm unique?

Members of Chambers also have specialist knowledge and experience of acting both for the Revenue and the taxpayer before the VAT Tribunal and the High Court. Members of chambers have been appointed to review ‘rough justice’/historic appeal cases and have particular expertise in this area.

They have also regularly been instructed by the Criminal Cases Review Commission in judicial reviews of the Commission’s refusal to refer cases to the Court of Appeal, including in the cases of Jeremy Bamber and Kenneth Noye.

Acquisition International - August 2016 11

LEGAL / 60-Second Interviews: Expertise Abogados & Consultores

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Expertise Abogados & Consultores Expertise Abogados & Consultores is a law firm located in Quito – Ecuador, which has been recognised as one of the leading firms in the fields of dispute resolution and corporate and commercial law. We spoke to Daniel Alejandro Palbuchta who furnished us with more details about the solutions and legal support that his firm offers.

Name: Daniel Alejandro Palbuchta Company: Expertise Abogados & Consultores Email: dpalbuchta@ expertise.com.ec Web: www.expertiselaw.com Address: Av. Doce de Octubre N24-739, entre Av. Colón y calle Fco. Salazar, Ed. Torre Boreal, Torre A, Office 605, Quito – Ecuador Phone: (593-2) 3826777

60-Second Interview

hat solutions does your firm provide?

Expertise Abogados & Consultores provides solutions and legal support in, among others, corporate law, international trade law, mercantile law, mediation and arbitration processes (ADR), intellectual property law, investment Law, labour law, tax law, public procurement and immigration law.

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The strength of our firm also encompasses the incorporation and establishment of international businesses in the country, which aims to interconnect our clients with existing businesses in Latin America. This often includes the legal representation of foreign companies as well as legal advice on immigration law for incoming foreigners.

Who have your legal services been developed for?

Our legal services have been developed for national and international companies in different sectors such as agriculture, oil services, commerce, real estate, customs, transport, logistics, trade, foreign direct and indirect investments, among others.

Our client portfolio, thus, includes ExxonMobil, TetraPak, KBC, INECO, Coface, to name a few, as well as other investors from Asia and Russia.

What sets your firm apart from others?

Our flexible and agile organisational structure allows us to provide legal services according to the needs

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of our clients. By advising major multinationals, which offer a broad range of services, our knowledge has been solidified and specialised.

The mentioned features have provided us with the required experience to offer a personalised and highly qualified customer support, procuring results in optimal time.

One such example is our effort to understand the specific needs of our multifaceted clients in a globalised world. To achieve this, we have been providing our services in many languages through our multinational and multicultural team.

Can you tell us about one of the challenges your firm is facing in the future?

One of our current projects is to develop our services in the Latin American region on the basis of recently concluded as well as treaties being currently negotiated (such as that between the Andean Community and the European Union or that between Ecuador and the European Free Trade Association), which aim to increase the amount of international trade in goods and services. For that purpose, we have been fostering business relations and new opportunities in different countries through several negotiations.

In that context, our challenge is to continue to provide an excellent service while focusing on the expansion of our business within the region, without compromising our unique features.

LEGAL / 2016 White Collar Crime Top 50: No Stone Unturned 1608AN20

No Stone Unturned Lewis Nedas Law is a highly regarded law firm in London, best known for their expertise in white collar crime and the provision of civil litigation.

Jeffrey Lewis founded the company 34 years ago, as a trader and investment analyst in the City of London. Although most of our clients are from the City, we operate up and down the UK because of the quality of work we provide.

ersonally, I have been working in this area since 1992, so have many years’ experience dealing with White Collar Crime, Financial regulatory matters, business investigations, Tax / VAT investigations, Money Laundering, Bribery, Corruption and Serious Fraud.

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Company: Lewis Nedas Law Name: Siobhain Egan Email: segan@lewisnedas.co.uk Web: www.lewisnedas.co.uk Phone: 020 3811 3600

2016 White Collar Crime Top 50

Perhaps the firms most distinguishing feature is that we are a boutique law firm, not a large firm processing a large volume of cases.

We offer partner led service with the highest standards of client care. When we say that we operate 24/7 we really do mean that.

People working in, business, finance and the City of London are demanding, with high expectations and they expect quick responses - if you fail to provide that standard of service you will lose business – it is as simple as that.

Jeffrey Lewis, the founding and senior Partner of the practice began his professional career as a City Analyst before re- qualifying as a lawyer. He knows what financial and business professionals expect and has always had a loyal client following amongst these groups.

“When we say that we operate 24/7, we really do mean it, because we are available to answer any of our clients’ queries at any time.”

An important feature of our service model is that we act collaboratively with the clients - a team effort produces the best results.

It is our service standards and results that have won us a number of various awards and consistently high rankings from the major legal ranking directories.

This year alone we have had some tremendous successes for clients and their businesses concerning investigations by the SFO, FCA, BIS and HMRC in particular.

We genuinely do think outside the box, which is one of the reasons that we have such excellent results and high levels of client satisfaction.

The whole team are passionate about their work, leave no stone unturned, are excellent tacticians and strategists. Additionally, we work with the best barristers, forensic accountants and experts in the market.

This is one of the reasons that so many of the team have been consistently and individually ranked by the ranking directories.

The field of White Collar and Corporate Crime is changing rapidly - some of the real game changers include The Bribery Act 2010, and the (reluctant) adoption of US styled Deferred Prosecution Agreements (DPAs).

The major prosecuting and regulating agencies are cash strapped and are constantly looking for new approaches to deal with this type of crime.

Some firms regard this work simply as an extension of their litigation departments and have small teams dealing with these cases, in reality this is criminal work investigated and prosecuted by the major criminal prosecution agencies. Clients therefore need criminal / fraud lawyers who have a genuine and deep understanding of how these agencies (and the criminal judiciary) work. That only comes after years of experience.

These skills easily transfer to regulatory and professional disciplinary work as well.

I was fortunate whilst serving as a member of The Sentencing Council for England and Wales (reporting to LJ Leveson) to sit with members of the senior Judiciary and advise upon the consultation that eventually led to the current Sentencing Guideline on Fraud, Money Laundering, Bribery and DPAs. This gave me great insight into the Judicial psyche.

Despite the challenges of this fast moving landscape, the firm continues to punch above its weight, continues to thrive and remains excited about the future.

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LEGAL / Second Quarter Update: A 2016 Mid-Year Round-Up: A Personal Touch 1608CG35

A Personal Touch Soteris Pittas & Co LLC is a boutique law firm, in size only, focusing on the areas of law related to business activity and is dedicated to providing its clients with outstanding, highly personalised, legal representation.

t Soteris Pittas & Co LLC, our lawyers and associates with their combined skills-set and knowledge can provide comprehensive legal solutions according to the clients’ particular business needs, requirements and objectives.

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Company: Soteris Pittas & Co LLC Name: Elizaveta Bokova Email: lbokova@pittaslegal.com Web: www.pittaslegal.com Address: 10 Chrysanthou Mylona, Magnum House, CY- 3030 Limassol, Cyprus Phone: 0035725028460

As such, we are committed to representing our clients at all stages of disputes, including negotiation, mediation, arbitration, and litigation, in order to secure just compensation and legal vindication. Our corporate and M&A departments provide full-fledged support ranging from formation of companies world-wide to legal support in complex corporate, commercial and finance transactions.

Furthermore, the firm has close links and strong associations with reputable audit firms, private equity managers, and fiduciaries in Cyprus, Russia and the former CIS countries.

Second Quarter Update: A 2016 Mid-Year Round-Up

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2016 has been an exciting year for us so far, especially in Q2. During this time, we were involved in advising a Russian bank on the multi million purchase of the stake in Qiwi PLC, and we also provided legal assistance to high profile land and property developers in the Russian Federation in the structuring their JV in Cyprus.

Alongside this, we also assisted our long standing clients with the SPA transaction involving elements of complex chain of escrow arrangements. We also assisted an American client in a multi-jurisdictional M&A deal through the medium of Cyprus JV to purchase a stake in a European automobile manufacturer.

Ultimately, Q2 was an exciting time for our business and we are very much looking forward to the rest of 2016 and beyond. We thank our clients for selecting our firm to represent them, and we will continue to work hard to provide them with top quality legal representation with the personal touch characteristic of a boutique law firm.

Our differences are our strengths DKLM is an established central London law firm with a strong international focus.

Based in EC1, our expert legal teams offer a complete range of legal services to our private and commercial clients.

www.dklm.co.uk

LEGAL / Distinguished in Dispute Resolution 2016 - Arbitrator of the Year Poland: An Arbitrator in Demand 1607BW54

Nowaczyk

An Arbitrator in Demand Piotr Nowaczyk is an independent international arbitrator and mediator based in the Masovian District of Warsaw, Poland. We lift the lid on the impressive array of amazing accolades given to one of Europe’s most in demand arbitrators, and his extensive record in expert articles on the subject.

Company: Independent International Arbitrator & Mediator Name: Piotr Nowaczyk Email: arb@piotrnowaczyk.com Web: www.piotrnowaczyk.com Address: ul. Z. Slominskiego 19 lok. 113, 00-195 Warszawa Poland Phone: +48 605 324 502

Distinguished in Dispute Resolution 2016 - Arbitrator of the Year Poland

orn in Poland, 1953, Piotr Nowaczyk’s current areas of specialisation are vast and include aviation, banking, commercial contracts, competition, consortia, construction, corporate, defence, distributorships, energy, engineering, environment, fashion, FIDIC, franchising, investments, infrastructure, insurance, IP, IT, joint ventures, licenses, media, mergers & acquisition, oil and gas, personal injuries, privatization, sales & purchases, sport, technology, telecoms and transportation.

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While he is particularly recommended in the field of intellectual property law, he is also recognised as an expert in court dispute resolution, mediation and arbitration by Legalease (European Legal Experts catalogue, since 2001).

Nowaczyk was nominated as one of the leading practitioners by the Who’s Who Legal – Commercial Arbitration. Since 2007, he has been named as leading individual in Practical Law Company Yearbook 2008 and 2009, as well as being highly recommended for dispute resolution by Global Chambers Report.

He has also been rated ‘as the best arbitrator and counsel’ in Poland by Who’s Who Legal – Commercial Arbitration, 2008 and PLC Which Lawyer? listed him as the Leading Individual in Dispute Resolution. He was also selected to be included since the 2010 edition of Best Lawyers in Poland in the specialty of Arbitration and Mediation.

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A Gold Cross of Merit was granted to Nowaczyk by the President of the Republic of Poland for Nowaczyk’s services rendered to arbitration and to the promotion of Poland as an arbitration venue. If all this was not enough, he was also delighted to be an exclusive winner of the arbitration category for Poland of the ILO (International Law Office) Client Choice Award in 2010, 2011 and 2012.

In addition, the Chambers Global 2013 and Chambers Europe 2014 decided on his individual nomination to the list of the World’s Leading Lawyers in the field of Dispute Resolution (Poland), arbitration international (Europe-wide) and the Most in Demand Arbitrators (Europe-wide) and listed the name in the Chambers Legal Directories.

In terms of publications, Nowaczyk is the founder editor in chief of Biuletyn Arbitrazowy, and also the co-author of UNCITRAL Arbitration Rules Commentary, and has written more than 100 articles on arbitration and mediation.

LEGAL / 2016 Top Real Estate Advisor: Building Upon Success 1607AN72

Building Upon Success Company: Seyfarth Shaw LLP Name: Paul Mattingly, Partner and Chair of Seyfarth’s Real Estate Practice Email: pmattingly@seyfarth.com Web: www.seyfarth.com

2016 Top Real Estate Advisor

Seyfarth Shaw LLP’s Real Estate Practice is distinguished by its size, geographic footprint, practice sophistication and commitment to cutting-edge management techniques. We caught up with Paul Mattingly, Partner and Chair of Seyfarth’s Real Estate Practice, to find out how these distinctions are continuously achieved.

s one of the largest real estate practices in the United States, Seyfarth Shaw LLP team of more than 140 attorneys have successfully helped clients close more than $30 billion in transactions during 2015.

Furthermore, independent organisations such as Chambers USA, U.S. News & World Report and the Legal 500 have recognised Seyfarth’s market leading position in real estate law.

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Clients praise us for being ‘extremely responsive, very reliable and exceedingly knowledgeable.’

In 2015, Commercial Property Executive ranked Seyfarth’s real estate practice among the top 10 “most powerful real estate law practices in the U.S.”

“Clients praise us for being ‘extremely responsive, very reliable and exceedingly knowledgeable.”

Seyfarth’s experience is validated by the fact that clients have engaged us in some of the most notable and complex real estate transactions over the past several years. Those transactions include the largest industrial portfolio sale of 2015, 2013 and 2012, two of the top 10 largest single-property office transactions of 2014 and the third largest retail transaction of 2014, all as ranked by Real Estate Alert.

In addition, we actively represent three of the top five largest direct commercial real estate lenders, as ranked by National Real Estate Investor, and handle at least 25 million square feet of lease transactions for office, retail, healthcare and industrial properties across the United States each year.

In terms of our background, Seyfarth was founded in 1948 and has grown to have offices strategically located in key urban and real estate centres throughout the world, including Atlanta, Boston, Chicago, Houston, Los Angeles, New York, Sacramento, San Francisco, Washington D.C., London, Sydney, Melbourne and Shanghai.

The firm’s leading position in the U.S. real estate industry makes us uniquely qualified to handle the billion in foreign dollars expected to find a home in the U.S. commercial real estate market.

Moreover, the firm’s global footprint in Australia, China and the United Kingdom means that we can assist clients in real estate transactions all over the world. In this post-Brexit environment, we are working with institutional investors and traditional real estate investment companies to capitalise on opportunities in the U.K. and Europe. We are leveraging our contacts with brokers and other London law firms to help our clients find openings in the marketplace, understand the market outlook and long-term impacts for their investments.

For the firm’s clients based outside of the U.S., we are best placed to assist across the spectrum of commercial real estate. For financial institutions with significant lending operations in the U.S. commercial real estate market, Seyfarth’s Real Estate Finance team is among one of the most experienced. The team is currently engaged by a significant number of the industry’s most prominent lenders. What sets us apart from other firm is our ability to not only provide top quality legal advice, but the fact that our team creates client customised methods, systems and processes that help manage large lending portfolios efficiently and cost-effectively.

As for institutional investors, Seyfarth’s lawyers can assist with real estate acquisitions, dispositions and joint ventures across a range of asset types, including office, industrial, multifamily, retail/ shopping centre, mixed-use, hospitality, and healthcare. Clients benefit not only from our experience, but breadth of industry contacts and understanding of the different marketplaces across the U.S. Once the deal is done, our leasing attorneys step in to help efficiently manage and lease their space to tenants.

With regards to clients interested in large development projects, Seyfarth’s team of development and construction lawyers assist in acquisition and ground lease, construction and project financing, as well as the management of construction issues. Not only have clients access to our leading real estate practice, but they also have access to one of the best construction practices in the U.S. Added to this expertise, Seyfarth’s 140 Real Estate lawyers are supported by other team members who are expert in the ancillary areas that touch real estate. These include zoning, tax, corporate formation, 1031 exchanges and Delaware Statutory Trusts, environmental, Americans with Disabilities Act and general compliance.

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LEGAL / Effective Exit Planning: You Can Go Your Own Way 1608JC55

Company: Prime Partners Wirtschaftskanzlei Name: Adi Seffer Email: a.seffer@primepartners.de Web: www@primepartners.de Address: Bleichstrasse 52, 60313 Frankfurt am Main Phone: +49 69 8700208 0

Effective Exit Planning

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You Can Go Your Own Way In a nutshell, we believe that top quality and international expertise along with individual consultancy and a lean structure, are the defining attributes of PrimePartners Business Law Firm. We provide efficient solutions complex transactions and situations that concern all kinds of purchase and sale (M&A), financing and IPOs’, split-ups, restructurings and outsourcings. rimePartners have a wealth of experience and expertise, which allows the firm to provide top quality and international expertise, along with individual consultancy and a lean structure for his interests in small/ midcap transactions and financings.

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private equity funds, but we have also acted for sellers too. In such situations, the firm have had to enlarge our role from purely being a legal adviser to one of a business partner, providing advice to the more unexperienced party, and selling his work of a lifetime to ensure that everything is in safe hands and the deal is done through a highly professional manner.

Furthermore, PrimePartners work in partnership with our clients to ensure the best possible result.

Together with our local and international business partners, we conduct legal and tax due diligence, draft and negotiate transaction documents (including W&I-insurance and financing) and coordinate multi-jurisdictional matters such as foreign subsidiaries or other assets or business interests. With our experience of more than 80 transactions, we know also how to coordinate the various tracks of SPA negotiation, integration of W&I insurances and transaction financing.

Looking ahead, there are many challenges and opportunities facing Prime Partners in the remainder of 2016 and beyond. Quite often transactions are enhanced with a debt-to-equity swap or roll-over of former shareholdings into a new set-up / SPV or similar financings with a corporate background. As such structures become much more of an issue, it is not sufficient that the deal-counsel add more specialist members to the team, but they should provide a consistent and experienced-backed chief-legal adviser.

When it comes to exit planning, we are aware of the specifics of transforming family-owned businesses into a state-of-the-art private equity structure.

In many cases, the firm have acted on behalf of

Whatever challenges come along, Prime Partners believe that with our experience and expertise we are well-equipped to meet any obstacles that come along the way.

LEGAL / 2016’s Most Innovative Company - Kenya: Staying Focused on the Customer 1607CG42

Staying Focused on the Customer

Company: Masumali Meghji Insurance Brokers Ltd Email: insurance@mmltd.co.ke Web: www.mmltd.co.ke Address: 83110 – 80100 Mombasa, Kenya.

Phone: +254 41 2223843 / +254 721 786 889 / +254 705 789 158

2016’s Most Innovative Company - Kenya

Masumali Meghji Insurance Brokers Ltd is one of the largest independent insurance brokers in Mombasa County, and has been serving the community for 35 years. We cater for a wide variety of clients with different needs in the insurance industry, ranging from multinational corporations to individuals. As a result of the firm’s diverse set of clients, we have a variety of products which include private and commercial insurance, medical and employee benefits, travel insurance and marine cargo, together with political risks to name just a few. he employees of Masumali Meghji Insurance Brokers Ltd are an experienced team, who provide the personal touch in the work they do. We believe that this is what makes us unique amongst our competitors, and we believe that we are reliable but not predictable, traditional but not conventional and professional but not impersonal.

Alongside this, Masumali Meghji Insurance Brokers Ltd have also come up with credit facilities by partnering with financial institutions for our key clients. What this means is that before a client’s policy expires, we will send or even call them to notify them that their policy is due for renewal, and if new policy terms have been introduced we try and keep the customer on track and in the know.

As such, Masumali Meghji Insurance Brokers Ltd offer a combination of expertise and attention to detail, which allows us to consistently deliver for our clients, and provide measurably better solutions that are delivered in a distinctly personal way. The quality and consistency of customer service we offer is what makes us different. We value every one of our customers as individuals, which makes the relationship we have with every one of them, unique.

Masumali Meghji Insurance Brokers Ltd have also been working closely with our clients and community partners to encourage involvement and strong community alliances. We have also utilised a visionary approach, with consistency, to prevail in public relations activities. In terms of the region, East Africa as a whole and Kenya especially, are rapidly growing markets, and this has allowed us to look at innovative products that the market requires.

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Only by truly understanding the needs of the customer, can we provide them with the best solutions. The staff here are well qualified, highly motivated and we make use of some of the best technology available to ensure that our clients enjoy a totally professional and personalised service.

As we are a very experienced company, Masumali Meghji Insurance Brokers Ltd are always keen to innovate and develop the firm’s services. As such, we have put a lot effort into developing the website to sell our products and services, as well as we using social media to reach both new and old clients. Furthermore, we also design newsletters which tend to educate the clients on what their policies entail, and what certain features mean and why they are in their policies.

In this rapidly growing environment, Masumali Meghji Insurance Brokers Ltd are faced with a number of challenges and opportunities. One of the biggest challenges we see, among other things, is staying focused on the customer and serving their needs. To do this, we must continue fighting the urge to be lured by the latest and greatest shiny new device and navigating through a myriad of ways to connect, engage and communicate with our customers.

Ultimately, Masumali Meghji Insurance Brokers Ltd’s aim is to continue our approach which has served us so well in the past. We hope that this will allow us to continue to grow and build on the firm’s continued success.

“We value every one of our customers as individuals, which makes the relationship we have with every one of them, unique.”

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Win Win Win As South Africa’s largest privately-owned insurance group, the Hollard Insurance Group includes the Hollard Insurance Company, Hollard Life Assurance Company and Hollard Investment Managers. We spoke to Annemarie Sinclair, Statutory Actuary at the Holland Insurance Company, to find out more about their firm and how they provide a ‘win-win-win’ situation for themselves, their clients and partners.

Name: Annemarie Sinclair Company: The Hollard Insurance Company Web: www.hollard.co.za

2016’s Ones to Watch in Actuarial Services

he Hollard Insurance Company began in 1980, and today the group provides short-term and life insurance as well as investment products to a diverse customer base including individual consumers, commercial entities and corporate clients. We have an incredibly broad range of insurance products to cater for the needs of an amazingly diverse set of customers, and serve them through the most extensive range of distribution channels imaginable.

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We write most classes of insurance business – from simple personal lines policies, through complex corporate policies, incorporating specialist risks such as marine, engineering and liability cover. Individual consumers in almost all income categories, as well as small, medium and large commercial and corporate clients all trust us with their stuff. In addition, we serve them through agents, brokers, retailers, direct channels and even through their favourite sports teams.

“At the very heart of our values system is a belief that we can do well by doing good and by being a catalyst for positive and enduring change.”

As the Hollard Insurance Company is family-owned and unlisted, we are able to adopt a long-term view, and to pursue sustainable business instead of chasing quarterly returns. This long-term view has led us into exciting businesses, that in turn have earned us an enviable reputation for innovation throughout the firm’s history. Our innovations span products, marketing methods, distribution channels, partnership structures and even the organisational model underlying the business.

Furthermore, partnership is at the heart of the Hollard Insurance Company’s business model because we partner throughout the insurance value chain. That is with brokers, distribution owners (such as banks and retailers), product underwriting specialists and reinsurers among others. These strong, long-term relationships are all constructed in a way that recognises the unique contribution and capabilities that each partner brings to the

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creation of a “win-win-win” relationship, whereby the consumer (our partners) and the Hollard Insurance Company all benefit in a meaningfully and sustainably way.

Perhaps most importantly, the Hollard Insurance Company do not believe in being measured by financial returns alone. In the foreword to the firm’s Integrated Annual Report, CEO Nic Kohler said, “At the very heart of our values system is a belief that we can do well by doing good and by being a catalyst for positive and enduring change. This is not purely altruistic, it also flows naturally from thinking deeply about the impact a company has on the society in which it operates and vice versa. The firm’s belief remains that for a company to succeed on a sustainable basis, it must support and nurture the community and environment from which it draws its resources.”

Achieving sustained success is at the heart of the Hollard Insurance Company, which is why we always have our eyes on any emerging trends or developments in the industry we work in. Globally, the uncertainty in the economic environment has had a far-reaching impact on the way companies operate. The impact can be seen in interventions such as new or improved strategies around sales and distribution (as it has become increasingly difficult to attract and retain new and existing policyholders), to the more focused management of expenses.

From an actuarial perspective, the change in insurance companies’ investment strategies is of particular interest. Considerable effort is required to ensure that the duration and volatility of assets and liabilities are matched. In addition, South Africa has also experienced huge currency fluctuations over the last few years, and my impression is that companies have had to actively manage the increased risk that results from the volatile Rand.

As such, companies have been forced to focus on identifying risks not only as a result of the economic pressures they now face, but because of changes in legislative requirements. South Africa is in the process of introducing a solvency regime called Solvency Assessment and Management (SAM) that follows the same principles as the European Solvency II. According to SAM, required capital is based on the risks inherent in the insurance business, as well as the assets on the balance

LEGAL / 2016’s Ones to Watch in Actuarial Services: Win Win Win

sheet. This has forced the industry to be a lot more focused on risk selection, always trying to ensure that an appropriate return on capital is achieved.

With this in mind, the ability to manage risk requires companies to think holistically about their approach to managing their business. This in turn has enabled companies to make better business decisions, and to be more confident in the actions taken as a result of these decisions. For example, companies have a better appreciation for capital planning and expenditure, and how this can be optimised in order to meet shareholder demands. Other areas of focus have been reinsurance optimisation, and operational risk and expense management.

Apart from the more traditional roles that actuaries play in the insurance industry, they are also increasingly employed in the banking sector and positions in enterprise risk management. In Hollard specifically, actuaries play a pivotal role in management, with various executive committee and senior management positions in risk, finance and investment being filled by actuaries.

Looking towards the future, the Hollard Insurance Company are confident that the firm’s approach towards sustained success will continue to serve us well in the future. Of course, there will be many headwinds ahead, but we are confident that our tried and tested approach will allow us to continuously build on the firm’s success.

In fact, the majority of positions in the investment team are filled by actuaries, which was not always the case previously. Additionally, the actuarial teams within the life and non-life companies are responsible for, inter alia, pricing of insurance and investment products, capital management, valuation of insurance liabilities and reinsurance optimisation.

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INTELLECTUAL PROPERTY / Online Copyright Infringement down as People turn to Streaming

Online Copyright Infringement down as People turn to Streaming New research commissioned by the IPO in the UK shows fall in online infringement and steep rise in consumer use of streaming. The meteoric rise of streaming services such as Spotify and Netflix may be having a chilling effect on illegal copyright infringement according to new research.

Highest level of streaming to date revealed by new report; • Fall in infringement with nearly 45 % consuming ‘exclusively legal’ content; Approximately 7 million internet users still accessing some illegal content; Minister for Intellectual Property encourages “…fight against IP infringement in all its forms.”

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Kantar Media’s Online Copyright Infringement Tracker, commissioned by the UK Intellectual Property Office, has shown that over half (52%) of internet users consuming content online now use streaming services. While downloading content is becoming comparatively less popular (39%).

Respondents who stream cited convenience and cost as two of the main reasons for doing so.

Spotify, the music streaming giant, has seen a 3% rise in new UK users in just 12 months. The rise of streaming has coincided with a small but significant drop in online copyright infringement. For the first time, those consuming content from exclusively legal sources has risen to 44%, a 3% increase since the end of 2015.

Despite this positive trend, online infringement continues to have a major impact on the creative industries, with music and film hit hardest. Kantar estimates that over 78 million music tracks were accessed illegally online in the past three months with TV shows and films illegally accessed more than 50 million times in the same period. 1 in 20 internet users are exclusively consuming illegal content.

Baroness Neville-Rolfe, minister for Intellectual Property, said: “Online copyright infringement has been a running sore for the UK’s creative industries for far too long. I am extremely pleased to see that there has been a decline in infringement and that consumers appear to be turning towards legitimate streaming en masse.

“There is, however, more to do. This government is committed to fighting against IP theft in all its forms and supporting the hard work of our creative industries. I am pleased that we are joining forces internationally to improve our knowledge of online infringement.”

Eddy Leviten, director general of the Alliance for Intellectual Property, added: “It is encouraging to see that more UK consumers are choosing legitimate content sources, thereby supporting creators and creative businesses.

“However, illegal content is still finding an outlet in UK homes and that’s why we need better collaboration to drive down availability and access to pirate websites. Government has a crucial role to play if the UK’s creative industries are to continue to grow.

The UK Intellectual Property Office is responsible for Intellectual Property (IP) rights in the United Kingdom, including patents, designs, trademarks and copyright.

Kantar Media is a global leader in media intelligence, providing clients with the data they need to make informed decisions on all aspects of media measurement, monitoring and selection. For further information, please visit www.kantarmedia. com.

The Online Copyright Infringement Tracker is a large-scale consumer tracking survey that samples over 5000 individuals aged 12+ to examine the online copyright infringement and wider digital behaviours of the UK population.

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INTELLECTUAL PROPERTY / 2016 Intellectual Property Practitioner of the Year – France: Climbing the Intellectual Property Ladder 1608JR62

Climbing the Intellectual Property Ladder Company: IP TRUST Name: P. Breesé Email: pb@iptrust.fr Web: www.iptrust.fr Address: 2, rue de Clichy, 75009 PARIS France Phone: + 33 (0) 1 81 92 17 12

2016 Intellectual Property Practitioner of the Year – France

As an intellectual property consulting firm, IP TRUST is dedicated to helping its clients protect and add value to their innovations. With its team of engineers experienced in the various sectors of industry and technology (such as engineering sciences, life sciences, ICT, chemicals and energy), and its range of expertise in economics and IP strategy, IP TRUST has learned the vital role that strategic IP management can have in a business.

With businesses across the corporate landscape facing periods of uncertainty, IP TRUST are always aware of budget constraints, and have adopted an organisation and an information system that promotes an interactive relationship with its clients, and a streamlined approach to IP portfolio management.

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IP TRUST’s streamlined method is all part of the firm’s holistic approach towards IP management.

We were founded upon the conviction that the client situation cannot always be segmented into partial problems, and a more holistic outlook is always needed. This often requires a global approach, that comprises a business, legal, fiscal, economic and strategic dimension to form the framework of our intervention.

Moreover, each situation that is exposed to IP TRUST by the clients is an opportunity to combine these skills, invent and propose innovative solutions and to expand the firm’s experience. As these situations are always different from each other, we are expanding into new areas daily. The firm provides a highly diverse range of services, including protecting inventions, giving legal opinions, delivering IP strategies, conducting audits and due diligence as well as IPR valuations In order to deliver the best possible service in this regard, most of IP TRUST’s consultants have held management positions in the industry or in the academic world, and understand the need to provide a pragmatic and cost effective solution that fits within this global framework. IP TRUST consultants are experienced in collaborating with professional firms, external counsels, accountants and at the top management level, so that THE clients are ensured of receiving high quality services with optimal financial conditions.

Fundamentally, the ‘IP TRUST’ signature lies in the quality of its services and its capacity to understand its clients’ core issues, and our determination

to obtain the best possible results. Identifying the best theoretical course of action is usually straightforward, and is generally imposed by the appropriate application of IP laws and rules.

This however is rarely implementable in real life, primarily due to a lack of time, or financial and organisational resources. Mapping the most appropriate course of action into the real world, and proposing the best possible, pragmatic, cost effective solutions is where the experience and innovative skills of IP TRUST truly shine.

From IP TRUST’s experience, the IP industry has been under continuous growth over the previous decades, as this is shown by the increasing worldwide yearly number of patent and trademark filings. But for many reasons, the era of ‘more filings’ is probably over. IP departments within organisations are requested to establish rationales that justify their filing policy, and to relate the intensity of their filing to the expected economic benefits for the organisation.

In doing so, they may wish to explore alternative forms of creation protection, such as better management of know-how, better organisation of collaboration. IP firms should have the broad experience and knowledge to support their clients in reviewing their strategy. In doing so, IP firms rely less on the recurrent activities of patent, trademark and models filings as it has been historically the case.

Since its creation, IP TRUST has experienced continuous double digit growth. To continue serving the firm’s client at the same level of service, we are continuously expanding the team of consultants, integrating new skills and experience. Managing this integration while preserving the firm’s core values, reinforcing our existent skills, and identifying the ones that will be needed by the client in the future is the exciting challenge that IP TRUST is facing for the years ahead.

Acquisition International - August 2016 23

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Company: Maristela Basso Advogados Name: Maristela Basso Email: mbasso@ maristelabasso.adv.br Web: www.maristelabasso.adv.br Address: Avenida Brigadeiro Luiz Antonio, nº 4249 – Jardim Paulista – CEP 01401-002 – São Paulo – SP - Brazil Phone: +55 11 30571663

Brazil's Go-To Boutique Law Firm Based in Brazil, Maristela Basso Lawyers have become nationally renowned for their highly specialised legal services. We provide highly customised legal services in both Brazil and abroad, and operate in a number of different areas. With over 30 years’ experience in the practice of law, the firm also offers clients efficient and highly personalised support, which is one of the many reasons why our firm stands out as the go-to boutique law firm in Brazil. n terms of Maristela Basso Advogados’s mission, the firm aims to develop a deep understanding of the client - whether it is a firm, an individual or a corporation – in order to efficiently attend to their needs and take into consideration the micro and macroeconomic contexts of the country. Our first step with any client, is to listen attentively to understand the problem and propose the appropriate solution, or to present alternative scenarios, so that a choice can be made in terms of the most satisfactory and reassuring option at a given moment. Our objective is to provide each client with a special response, in an atmosphere which values their individuality, supports their choices and acknowledges their importance.

As for the region we are based in, Brazil’s economic development has been thriving. As a result, our law practice has grown in tandem with this development, and the attorneys here have acquired deeper knowledge of the technical and academic fields, providing an even greater level of specialisation and dedication to our clients.

“Our first step with any client, is to listen attentively to understand the problem and propose the appropriate solution”

Added to the firm’s expertise is the fact that Maristela Basso is a Professor of Intellectual Property Law at University of São Paulo Law School. As a result, this keeps her constantly up to speed on any new issues in the national and international levels.

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IP Practitioner of the Year - Brazil

As such, Maristela Basso Advogados has wealth of expertise in the area of intellectual property, especially in providing juridical expert opinion. In this field, our firm relies on broad experience and gives counsel to our clients so that they can obtain consistent protection of their rights, based on the legal landmark set by WTO – TRIPS and based on the new Brazilian laws on intellectual property, technology, innovation, biodiversity and so on.

The firm also advise clients on the preparation and negotiation of national and international contracts regarding technology transference, licensing of trademarks and patents, copyright, software, biotechnology, as well as our practice in administrative and judicial litigations on intellectual property.

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In this context, the legal practice at Maristela Basso Lawyers follows in the footsteps of its founding lawyer and thus is guided by her commitment to quality and punctuality of the services, as well as her compliance with the clients’ needs, constant and non-competitive collaboration with other law firms, swiftness of action, and the originality and creativity of the responses.

Furthermore, we have recently expanded our IP expertise in the area of online and IT technology.

It is our belief that the juridical approach to the areas of information technology (IT) and the internet must take into account the convergence of telecommunication technologies in different services. In this context, we approach the telecommunications and intellectual property laws in an integrated fashion, offering equally integrated solutions concerning infrastructure and content in the areas of information technology and the internet.

Maristela Basso Advogados has experience in the drafting and negotiation of contracts involving IT services and assets, such as consultancy services, software licensing contracts, and contracts for the outsourcing of IT operations.

The firm also offer specialised juridical services on internet issues, among which we highlight legal audits of websites, contracts and expert opinion regarding e-commerce, privacy policies and settlement of disputes concerning copyright, trademarks and internet domain names, alongside juridical assistance to educational institutions that seek to develop e-learning projects.

INTELLECTUAL PROPERTY / IP Practitioner of the Year - Brazil: Brazil’s Go-To Boutique Law Firm

Although our firm is well equipped in terms of experience and expertise, the field of intellectual property is constantly changing where providing the very best legal assistance is an ongoing process.

At the moment, Brazil has e new Law regarding the exploitation of traditional knowledge and its legalisation before the Council for the Management of the Genetic Patrimony (CGEN): Lei nº 13.123 – May 2015.

Ultimately, Maristela Basso Advogados provides a service that always up to speed with the latest developments, and as a result can provide a deeply personalised and dedicated service to each and every one of our clients. We provide expert opinion and respond to inquiries about private international law involving individuals and companies. In the same way, we are highly experienced in dealing with cases that involve civil proceedings, especially issues on international jurisdiction, as well as dealing with homologations and the passing of foreign sentences at the Supreme Justice Court.

The public international law is a field where we have also developed excellence, which comes from our tradition in the study of cases that involve disputes between national laws and international treaties, nationality issues, international protection of the human person, of the environment and of the cultural heritage, and damage liability and reparation.

All of these ingredients combined are what have made such a highly reputable law firm in the region we are based in. As such, we are very confident that we will continue to grow and build on our success in the future.

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INTELLECTUAL PROPERTY / IP Practitioner of the Year - Australia: Australia’s Leading Intellectual Property Practitioner Firm 1608CG18

Australia’s Leading Intellectual Property Practitioner Firm Company: Patentec Patent Attorneys Name: Nicholas Milne Email: hello@patentec.com.au Web: www.patentec.com.au Address: L11, 65 York Street, Sydney NSW 2000 Phone: (02) 9188 9689

IP Practitioner of the Year - Australia

Patentec is one of Australia’s leading intellectual property practitioner firms providing individualised, capped-fee and expert patent attorney services.

Their stated growth philosophy is simple: They want you to be impressed by their clear, efficient and effective services and take the time to maximise the probability of acceptance of IP applications through thoroughly prepared and well drafted patent, trademarks and design specifications, obtaining the broadest possible scope of international patent protection. atentec’s IP services includes patent drafting across a wide range of technologies, domestic and international patent prosecution, patent infringement advice, patent validity advice, patent rights enforcement, patent litigation support, patent opposition proceedings, trademark opposition proceedings, registered design preparation and filing.

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Having worked for large IP firms in the past, founder Nicholas Milne founded Patentec to deviate from the “big firm mentality” in providing individualised client attention where clients are known by name and not just a client number.

Nicholas says he is driven by an insatiable interest in innovation and to understand the motivations that drive true innovators to create solutions for the world we live in. Patentec’s ability to work closely with innovators and their inventions enables Patentec to develop pragmatic IP strategies and achieve the right results for clients by preparing thorough patent specifications and carefully managing the subsequent patent process both here in Australia and abroad, resulting in a high standard of client service that facilitates commercialisation of innovation in its truest sense.

“Nicholas says he is driven by an insatiable interest in innovation and to understand the motivations that drive true innovators to create solutions for the world we live in.”

Patentec stands out from the competition in offering more than just IP services. We didn’t want to offer the traditional “file and walk away” patent attorney services and therefore created a commercialisation advisory arm for mentoring clients for growth and investment. Given that a good idea and the successful commercial execution thereof are inextricable, this was, for us, the logical next client offering, Nicholas says.

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Patentec stands out also for offering industrial design services for product development and manufacture comprising aspects such as concept design and rapid 3-D prototyping. Nicholas says that Patentec is also sensitive to client’s IP budgets in that Patentec offers sensible capped fees in lieu of the traditional six-minute billing interval.

Patentec defines exactly what it will take to achieve an outcome, how much it will cost, how long it will take and then gives clients a written promise that what has been agreed upon is exactly what they will deliver, on price, on time and with precisely the quality you would expect from the very best patent attorney in Australia.

The firm is also able to offer fair pricing for exceptional quality of work by leveraging off bestof-breed IP systems to increase efficiency, having automated an integrated accounting, invoicing, telephonic and practice management systems to reduce overheads that don’t have to be passed onto clients.

The firm’s attorneys are also well suited to meet the challenges facing the IP industry in 2016 and beyond Nicholas says.

The recently enacted “Raising the Bar” legislative amendments now make it more difficult to obtain patent protection, increasing the importance of a well drafted patent specification. This is why we moved away from preparing first filed patent specifications in provisional format, Nicholas says, rather filing in the first instance in a fully embodied, fully defined claim set complete patent specification format.

Furthermore, recent Australian court case decisions have narrowed the scope for patentability in the realm of software. Nicholas himself is particularly adept in protecting software related inventions having himself worked as a software engineer and having previously patent protected software related inventions for companies including tech giants such as Google, Nokia Corporation and IBM.

INTELLECTUAL PROPERTY / Intellectual Property Practitioner of the Year - Philippines: Cruz Marcelo & Tenefrancia 1608C26

Cruz Marcelo & Tenefrancia Cruz Marcelo & Tenefrancia is a full-service firm with proven expertise in different practice areas such as corporate and commercial law, intellectual property, litigation and dispute resolution, to name just a few. Similarly, our IP practice covers a variety of intellectual property matters, including patents, trademarks and copyright.

Company: Cruz Marcelo & Tenefrancia Name: Susan D Villanueva Email: IP@cruzmarcelo.com; sd.villanueva@cruzmarcelo.com Web: www.cruzmarcelo.com Address: 9th, 10th, 11th & 12th Floors, One Orion, 11th Avenue corner University Parkway, Bonifacio Global City 1634, Metro Manila, Philippines Phone: +632.810.5858

Intellectual Property Practitioner of the Year - Philippines

ruz Marcelo & Tenefrancia’s lawyers are from diverse backgrounds representing the sciences, businesses and the arts and are equipped with the expertise and experience to counsel on protecting, enforcing and commercialising clients’ IP.

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Unlike other firms that refer IP litigation to general litigation lawyers, our IP lawyers handle all litigation involving IP. This is particularly crucial as IP practice requires specialised or technical knowledge. Moreover, the firm’s patent attorneys are registered patent agents who topped the Patent Agent Qualifying Exam jointly administered by the Philippine Intellectual Property Office and the European Patent Office in chemical and non-chemical fields. Our IP Department consistently ranks among the top IP practices in the Philippines and is highly regarded both locally and internationally.

As more and more companies are realising the value of protecting intangible assets, we make sure that we are able to meet their IP needs. In view of recent amendments to Philippine Copyright Law, we have expanded our practice into the more technical subject of online copyright infringement, as well as negotiating with Collective Management Organisations.

Another factor that distinguishes us from our competitors is that we take a more proactive approach and collaborate with clients, including state universities, to identify their possible IPs and thereafter secure protection locally and in other countries too.

“We believe that with the breadth of our experience and expertise, we are well-equipped to meet any challenges that come along the way.”

Furthermore, we examine and provide legal advice on when an IP needs to be registered or kept as a trade secret. We also evaluate how IP enforcement can be achieved in ways other than undergoing the

normal route of conducting search and seizure and subsequent litigation, that is through the sending of demand/cease and desist letters, and resorting to other modes of dispute resolution.

Added to this expertise, is the fact that we are known to be responsive and prompt in addressing the concerns of our clients’. We have devised internal procedures and systems that allow us to promptly inform clients of the latest developments in their accounts and enable us to monitor and comply with official deadlines. Additionally, we are accessible via e-mail and mobile 24 hours a day, 7 days a week.

With the implementation of the Madrid Protocol, it is no longer necessary to engage local agents to file applications. Nonetheless, while this may be seen as a challenge to this practice, we consider this as an opportunity to focus on other areas of IP. First, due to various factors such as the Philippines’ developing economy and international and regional cooperation efforts, Filipinos have become increasingly aware of the value of IP. In this regard, our firm has been conducting lectures to different research and development teams on the appreciation of the relationship among innovation, IP and business development. By increasing awareness of the value of IP, we create opportunity for business alliance and partnerships with the leaders of the country’s emerging economy.

The ASEAN Economic Community, which includes the Philippines, seeks to facilitate the free flow of goods, services, investments, skilled labour, and the free movement of capital across the region.

The challenge for the Philippine IP practice is to ensure that we are ready for this integration that will provide many opportunities for growth.

Looking ahead to the future, we are confident that our firm will continue to grow and prosper.

We believe that with the breadth of our experience and expertise, we are well-equipped to meet any challenges that come.

Acquisition International - August 2016 27

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Stephen Lee – A Barrister -At-Law on the Case Company: Bar Association of Queensland Name: Stephen Lee, Barrister-at-Law Nationally Accredited Mediator Arbitrator (FCIArb, DipICArb) Email: sjlee@qldbar.asn.au Web: www.qldbar.asn.au Address: Level 35 Santos Place, 32 Turbot Street, Brisbane, Qld 4000, Australia Phone: +61 (0)7 3221 4221

2016 Intellectual Property Practitioner of the Year - Australia

Based in Brisbane, I am a barrister, mediator and arbitrator. As a Barrister, I appear in courts and tribunals in both Australia and beyond, and I am qualified to appear in Australia, England and Wales and New York.

During my 21 years of practice as Counsel, I have appeared in countless substantial civil applications, trials and appeals including 17 appearances in the High Court of Australia, where I have had a 100% success rate in special leave applications. Over the years, I have also had significant experience in the areas of mediation and arbitration. hroughout my career, I have appeared in cases at all levels and in a wide variety of matters, especially in equity, commercial litigation and public law. However, intellectual property is a particular interest of mine.

This includes copyright, patents, trademarks, trade secrets and confidential information, fiduciary and contractual duties of good faith and fidelity, passing off and trade practices.

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For example, I have appeared in major patent litigation involving a jackpot gaming algorithm.

I also led in a case which went all the way to the High Court of Australia, which is now referred to as Maggbury v Hafele or ‘the Ironing Board Case’.

That case established that a covenant not to use information other than for approved purposes, when given by a company in trade, is subject to the restraint of trade doctrine.

Furthermore, I have appeared in cases involving Anton Piller orders, Mareva injunctions and interlocutory injunctions to restrain the use of sensitive customer information and restrain breach of non-competition clauses, as well as cases involving other remedies. As a mediator, I have mediated cases involving employers and employees and joint venture agreements including between producers and artists.

My practice therefore extends well into the equity side of IP. My interest in equity was fostered when completing the Bachelor of Civil Laws degree at Oxford, and a doctorate in law at Columbia Law School, New York which focussed on equity in transnational disputes.

As people have become more and more aware of the importance of protecting intellectual property, the industry can be quite competitive, which is why there are a number of aspects about my practice that allows me to distinguish myself from my competitors. I bring to bear, not only my years at the Bar, but also my extensive post-graduate experience in equity through my studies and teaching at Oxford and Columbia. Moreover, I regularly do pro bono legal work. For example, I give of my time to QPLICH (Queensland Public

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Interest Law Clearing House) and the Queensland University of Technology/Intellectual Property and Technology Law Clinic.

Alongside this expertise, I have given lectures on patent law and confidential information to barristers, solicitors and law students. I also regularly publish articles for the benefit of the profession. I have written on the jurisdiction to entertain cross border claims involving statutory IP rights, as well as on interest awards which applies to IP law as well as other kinds of claims.

Achieving a successful outcome is no easy task, which is why I have always used my tried and tested approach in order to ensure that the best possible outcome is reached. I try to understand the commercial objectives and imperatives of the client.

I also discuss my costs with instructing solicitors in advance and give reliable estimates of my costs so that there are no surprises down the track.

As a result of this approach, the demand for my expertise has expanded beyond Australia. In 2015, I expanded the global reach of my practice by being called to the Bar of England and Wales having sat and passed the Bar Transfer Test in 2014.

Notable results included achieving 91% on the Civil Evidence Practice & Procedure paper, and 89% on the Cross Examination advocacy assessment.

Moreover, I have also gained accreditation in the fields of alternative dispute resolution. I became an Australian Nationally Accredited Mediator in 2010, and became an arbitrator in 2013. In 2013, I graduated with a Diploma of International Commercial Arbitration through the Chartered Institute of Arbitrators (England and Singapore branches).

I am a Fellow of that Institute, and a National Councillor of the Chartered Institute of Arbitrators (Australian Branch). In that latter role, amongst other things, I was course director of and presenter on, the Inaugural Australian CIArb Course ‘Introduction to International Arbitration’ in 2015. Since 2014, I have been admitted to arbitral panels of a number of arbitration institutions in Australia, New Zealand,

INTELLECTUAL PROPERTY / 2016 Intellectual Property Practitioner of the Year - Australia: Stephen Lee – A Barrister-At-Law on the Case

Singapore, Kuala Lumpur, Vietnam and Mauritius.

Looking ahead, I am confident that my practice will continue to grow. My plan is to simply continue to offer cost effective solutions for the resolution of disputes. The need to integrate IT into our dispute resolution offerings is also important. As a profession, we need to speak the language of our clients, so that we are not left behind.

“Achieving a successful outcome is no easy task, which is why I have always used my tried and tested approach in order to ensure that the best possible outcome is reached.”

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Golden Opportunities in Indonesia’s IP Industry Company: Am Badar & Partners Name: Nadia Am Badar, S.H Email: info@ambadar.co.id Web: www.ambadar.co.id Address: Jl. Wahid Hasyim No 14 Jakarta Pusat Indonesia 10340 Phone: +62 21 392 2011, +62 21 398 37314

Intellectual Property Practitioner of the Year - Indonesia

Am Badar & Partners is one of the leading intellectual property (IP) firms in Indonesia. The firm was founded by Mr Toetoen Ambadar, SH and established as legal entity on September 2 1965. Now it is one of the most prestigious law firms in the field of intellectual property rights in Indonesia.

We offer a wide range of specialist services for the prosecution, protection, commercialisation, enforcement and management of all types of IP in Indonesia. s one of the oldest law firms in the field of Intellectual Property Rights in Indonesia, Am Badar and Partners has long-standing and strong client relationships and consistently committed to protecting the interests of the clients. Since 1999 the firm has been run by the second generation Nadia Ambadar, S.H, Annisa Ambadar, S.H, LL.M, Anis Ambadar, S.H, Nabila Ambadar, S.H, LL.M, And Dora Ambadar, S.Psi. All members of the firm are highly qualified and well versed in the subjects of their specialisation.

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The work of the firm is dealt by professional staffs of IP administration, IP technological experts and IP litigators. The firm comprehends all areas of legal practice with special focus on intellectual property laws and their applications. Am Badar & Partners has hundreds of associates-foreign Agents which represent thousands of applicant of intellectual property rights all over the world. In order to develop our IP firm, we have become members of several international organisations in Intellectual Property Rights such as: INTA, AIPPI, APAA, ECTA and UPS.

“Am Badar & Partners has hundreds of associates-foreign Agents which represent thousands of applicant of intellectual property rights all over the world.”

Am Badar & Partners have developed an internal IT system for managing IP monitoring in our firm.

Furthermore, we are now developing an IP filing system through our website.

Achieving outstanding levels of client satisfaction Am Badar & Partners always give the best solution for all clients, indeed when they ask us any

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information pertaining IP procedure and IP matters in Indonesia, we always give comprehensive information and solution and answer the question from all our clients.

To stand out from the competition, we: 1. The client’s trust is our priority.

2. Try to understand what our client’s need since the client’s instruction is our interest.

3. Always focus on satisfying our clients.

4. Always maintain professionalism.

5. Giving packaging consultation based on an outcome not hourly basis.

Challenges and opportunities for the future In 2016, Indonesia will be joining the ASEAN Economic Community (AEC), which will certainly give the professionals of ASEAN countries, the equal opportunity to enter Indonesia’s intellectual property field.

As it is known, ASEAN member states are mostly developing countries wherein one and another are competing to be a developed country, that would cause one professional to be more dominant than the others.

Indonesian IP regulations can be easily accessed by other countries. In any case, we are not aware of this matter because there is a possibility that the firm’s existence as an IP consultant will no longer needed by the clients. That is the biggest challenge in 2016 and beyond that we face, which means that our IP office must improve its quality in all areas continuously.

In addition to the ASEAN Economic Community, the possibility of the ratification of the Madrid Protocol into IP regulations in Indonesia, is also a big challenge, where an application for trademark registration may be filed through WIPO without the necessity of intellectual property consulting services.

INTELLECTUAL PROPERTY / Intellectual Property Practitioner of the Year - Indonesia: Golden Opportunities in Indonesia’s IP Industry

With the experience Am Badar & Partners have had since 1965, along with the support of qualified workers, not to mention client loyalty, we are ready to face ASEAN Economic Community and the Madrid Protocol. Even then, we can take the

advantage of these conditions when the other IP consultants are in a less than good condition. In addition to quality improvements in IP registration, upon the said circumstances, we also improved our quality in an area that will be a golden opportunity for us in the future.

Moreover, the Indonesian Patent Office will amend the Trademark and Patent Law in 2016. There will be a new regulation pertaining Trademark Prosecution and Patent Prosecution matters in 2016.

According to information from the Indonesian Patent Office, there are now 896 IP Attorneys in Indonesia. According to this situation, we believe that the competition will be intense between IP Agent in Indonesia during 2016.

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INTELLECTUAL PROPERTY / 2016 IP Practitioner of the Year - Germany: A Case in Point 1608JR74

A Case in Point Beyerlein Rechtsanwälte is a highly specialised law firm focusing on intellectual property on the one hand and life sciences (drugs, medical devices, food and food supplements, cosmetic products and so on) on the other hand. We give advice to our clients out of court ‘from the beginning of an idea’ to the ‘successful product placement’ and beyond.

We also represent our client in a national courts and the European Court of Justice.

Company: Beyerlein Rechtsanwälte Name: Thorsten Beyerlein Email: info@beylaw.de Web: www.beylaw.de Address: C 1,4, 68159 Mannheim Germany Phone: +49 621 33651484

2016 IP Practitioner of the Year - Germany

utside the courts, the firm’s work for our clients includes the complete strategy and implementation for intellectual property rights, including the application and registration of such rights all over the world.

Furthermore, we represent our clients in all national courts in Germany including the European Court of Justice. We also coordinate multi-national litigation proceeding, especially with respect to the infringement of patents, trademarks and designs.

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Beyerlein Rechtsanwälte does not only work ‘on the case’, we also extensively contribute to the development of legislation and jurisdiction by issuing scientific publication such as the Annotation to the German Design Act 1st, 2nd and 3rd edition), the Handbook on European Cosmetic Law, the Annotation to the Germany Act on Consumer Information Rights, the Handbook on Contract Manufacturing (drugs, medical devices and food).

Beyerlein Rechtsanwälte is also a well-respected speaker on national and international conferences on intellectual property issues. Beyerlein Rechtsanwälte is focused on intellectual property issues, however, due to our further specialisation on life sciences, we keep in mind special needs of such a special industry. We combine a high-level advice on IP with a high-level advice on regulatory issues of the life science industry.

The firm relies on an international network of law firms and national experts to ensure that we are able to help our clients not only on a national base. We are able to (and we have proved this in numerous cases in the past) support and advice our clients worldwide inside and outside of courts and intellectual property offices, for example in the last five years in Japan, China, United States, Canada, Australia and all European countries.

Furthermore, we distinguish ourselves by an unlimited availability for our clients. We accompany our clients – if necessary – not only during court proceeding, but we give them legal advice at major exhibitions and fairs, meetings of industry associations and so on. Our international client base shows us that we have a high level of client satisfaction with our work.

Challenges and opportunities Beyerlein Rechtsanwälte already builds up the basis for the upcoming Unified Patent Court(s) with a focus on the Patent Court in Mannheim, Germany (also the headquarter of our law firm).

Our long-lasting experience with the Patent Court in Mannheim (in the role of ‘just’ a national Patent Court) and the Appellate Court in Karlsruhe is the grounding for taking the next steps with respect to the Unitary Patent and the Unified Patent Courts.

The Unitary Patent and the Unified Patent Court(s) will provide a number of challenges to the industry, however, the chance for an effective litigation on patens in Europe must be seen and used. Finally, we have recently been named as ‘very experienced and assertive’ by the CEO of one of our client specialised in the area of fire safety.

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Company: Yingke Law firm Name: Linda YANG Yongyuan LI Email: yingke@ yingkelawyer.com Web: http://english.yingke.com/ Phone: 400 700 1516

The International M&A Market - Trends in Chinese Investment In a special guest article, Linda YANG and Yongyuan LI of Yingke Law firm examine the trends in Chinese investment in the international mergers and acquisitions market.

2016 Business Leaders

n May 27 2016, one of the world’s leading construction equipment manufacturers, Zoomlion Group, announced that the company had decided to terminate negotiations of its proposed acquisition of Terex.

The value of the discontinued transaction is said to be at least $3.4 billion. The news resulted in much speculation on the market, especially in the western world. “The only reason we terminated the negotiation with Terex was the price,” said Zoomlion Group president Changjun Sun.

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However, regardless of Mr. Sun’s statements, many western reporters and analysts believe this is a sign that Chinese capital is receding on the international M&A market. Of the $100 billion mainland China companies spent on overseas investments in 2015, approximately $55 billion went on M&A transactions.

While China was definitely the dark horse of 2015, people are worried its domestic economic downturn may slow the horse down in 2016. Some analysts also see the failure of the Zoomlion–Terex and Anbang–Starwood Hotels mergers as evidence that the Chinese authorities are tightening up their policies on overseas investment and foreign exchange.

“we believe that 2016 will be the beginning, not the end, of an international buying spree for China.”

However, as a Chinese law firm that specialises in cross-border M&A, we hold the opposite opinion.

We see the following drivers for Chinese companies to invest overseas: (i) Assets with high potential are becoming rare in the domestic market. Chinese investors are used to investing in mining and real estate and these assets are currently seriously overvalued. In addition, uncertainty about policies towards these industries has increased the associated risks. When investors turn their eyes to manufacturing industry, they find that

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it is also facing serious issues due to the economic slowdown. However, capital will always find a way out, and a lack of good targets in the domestic market will force capital to ‘go abroad’. (ii) Although the Chinese stock markets are volatile, there is no doubt that good assets are always valued more highly here. Sometimes, the Chinese stock market valuation of an asset can be several times higher than Wall Street. As a result, Chinese listed companies are driven to purchase good targets overseas using funds raised on the Chinese stock markets. (iii) Despite western analysts’ commonly held belief that legal and policy scrutiny of crossborder transactions is strict in China, we see many examples of more relaxed regulations.

Moreover, state-owned enterprises (SOEs) that have conducted most of the major transactions on the international M&A market in previous years, are being offered more incentives to invest overseas under the Chinese government’s ‘Belt and Road Initiative’.

SOEs are also receiving financial support – mainly in the form of loans with preferred interest rates – for their overseas investments under same initiative. (iv) Serious challenges faced by manufacturing industry have prompted China to unveil an ambitious plan to encourage innovation and to raise efficiency in an effort to enhance the sector’s competitiveness. Acquiring foreign companies with innovative high-tech technologies would not only be useful, but would also be necessary in helping to achieve this goal.

Driven by these factors, we believe that 2016 will be the beginning, not the end, of an international buying spree for China. The numbers also support our opinion. In the first quarter of 2016, companies from mainland China have concluded 115 M&A transactions worldwide with a value of $82.6 billion.

According to Xinhua Finance, this figure increases to $111 billion if we start counting from January 2016 to May 2016, which indicates 48% growth compared to the same period for 2015. During this period, the state-owned chemical company,

M&A / The International M&A Market - Trends in Chinese Investment

ChemChina, made a $43 billion offer for the Swiss seeds and pesticides group Syngenta, which, once concluded, will become the biggest M&A transaction in the history of China.

Even though regulatory hurdles contributed to Anbang’s failure to acquire Starwood Hotels, we do not agree with claims that the Chinese government is trying to restrict overseas investment. As an insurance company, Anbang is subject to some of the tightest regulation in the world, whatever the jurisdiction. Currently, most cross-border transactions by Chinese investors must be filed with, or approved by, the National Development and Reform Commission (NDRC), the Ministry of Commerce (MOFCOM) and the State Administration of Foreign Exchange (SAFE).

Furthermore, SOEs may also be required to obtain the approval of the state-owned Assets Supervision and Administration Commission (SASAC); listed companies may be required to obtain the approval of the China Securities Regulatory Commission (CSRC); and insurance companies and financial institutions may be required to obtain approval from their respective regulatory authorities, namely, the China Insurance Regulatory Commission (CIRC) and the China Banking Regulatory Commission (CBRC).

On one hand, for most M&A transactions, Chinese buyers face much looser regulatory controls then every before. For example, the NDRC published the draft of Regulations on the Administration of Investment Projects Subject to Government Verification and Approval and Investment Projects Subject to Government Record-filing in July 2015 (due to be implemented in 2016). Under these new regulations, most cross-border investment projects are only required to be filed, post-closing, with the NDRC. This means that for most M&A investments NDRC approval or filing will no longer be a precondition for converting Chinese currency into US dollars. Moreover, under the new regulations, documents to be filed with the NDRC are simplified.

As for filing with MOFCOM, the current legislation only requires ‘approvals’ of this Ministry to be obtained for investments that involve sensitive countries, regions or industries. All other investments are only required to be filed with MOFCOM for ‘recording’ purposes, instead of ‘approval’. Although ‘recording’ is still a precondition for converting currency, in most cases it is not difficult to obtain.

According to the statute, such ‘recording’ should be carried out within three working days of submission.

We sometimes experience days or weeks of delay for such ‘recording’, but the delays are not significant. The ministry has also set up a userfriendly system that allows investors to file overseas investment projects online. Many experts in China expect the red tape to be further simplified after implementation of the new NDRC regulations. As of June 1 2015, new SAFE regulations authorised banks to handle foreign exchange registration for overseas investments. Now, investors no longer have to waste valuable time on SAFE registration.

Instead, they can simply apply to their bank, who can deal with it in one day.

areas. For example, recent rumors circulating on the market suggested that the CSRC was no longer allowing listed companies to raise funds by private placements if the funds were going to be invested in the following industries: internet (P2P) finance, video games, film and TV, and virtual reality.

Although the commission denied the rumours, listed companies do find it difficult to obtain CSRC approval when attempting to raise capital for these particular industries.

Instead of pointing the finger at controls imposed by the Chinese government, we believe the cause of uncertainty about the tendencies of Chinese players on the M&A market lies elsewhere. For example, a survey conducted by O’Melveny & Myers shows that 47% of Chinese companies interviewed believe that the activity of the Committee on Foreign Investment in the United States (CFIUS) is the major cause for concern regarding their US investment plans.

We believe this indicates a tendency of the CSRC to control the bubble of the Chinese stock markets in these hot but volatile industries. Because Chinese listed companies are responsible for a considerable number of overseas M&As, and because other transactions are aimed at reselling the target companies to listed companies, CSRC regulations are likely to curb the number of transactions within these industries. Chinese private equity funds are also important buyers on the M&A market. However, as a measure to reduce scamming on the Chinese financial market, the authorities have, for several months, prevented private equity management companies from registering.

According to a report by the China International Capital Corporation (CICC), since January 2016, the value of failed M&A transactions by Chinese investors abroad has reach $27 billion. This is the highest it has ever been. However, in comparison with the Chinese government’s regulatory controls, US federal government scrutiny (in particular the CFIUS review) has contributed much more to failures on the M&A market, including Anbang’s failed merger with US insurer Fidelity & Guaranty Life ($1.57 billion) and Tsinghua Unigroup’s $3.79 billion bid for Western Digital.

Moreover, the CIRC and the CBRC are apparently trying to control overseas investments made by Chinese banks and insurance companies. We believe this measure is aimed at stabilising China’s finance and insurance markets. While the Chinese government is under pressure to stabilise the value of the Chinese Yuan (and though it cannot be proved), it is quite possible that the government wishes to control capital outflows in the case of acquisitions that require enormous amounts of US dollars.

In conclusion, it is our opinion that the Chinese government’s scrutiny of cross-border transactions will be further loosened in the near future, although certain measures will be introduced in order to build a healthier capital market. Until the Chinese Yuan becomes a completely market oriented currency, the government may maintain a certain amount of control over capital outflow, but most transactions will not be unduly affected unless they are extremely large.

We believe that a slowdown in Chinese buying may occur in the second half of 2016, due to uncertainty in US policy towards China and caused by the upcoming American presidential election.

People believe that during the election period CFIUS will be reviewing even more of China’s strategic investments. However, the good news is that the state council of China recently announced that negotiation of the Bilateral Investment Treaty (BIT) between China and the US is entering the final stage. During the negotiation, one of the key issues was the two countries’ national security measures. The BIT is expected to build an equal and transparent system of security scrutiny for both countries. We believe the BIT will significantly encourage more Chinese investors to enter into the US M&A market. Nevertheless, what frightens investors most is not the scrutiny itself, but the opacity and bureaucracy involved in its execution.

On the other hand, the Chinese government is tightening restrictions on the use of capital in certain Acquisition International - August 2016 35

Healthcare Industry M&A Company: Bureau van Dijk E-Mail: bvd@bvdinfo.com Web: www.bvdinfo.com

As with many sectors, 2016 started slowly for the healthcare industry as both volume and value fell back on figures recorded in the first and second halves of 2015. In total there were 921 deals worth $20,912 million signed off between January and the end of June 2016, according to Zephyr, the M&A database published by Bureau van Dijk.

015 was an impressive year for deal making worldwide and the healthcare sector is a certainly good example of this. Thus far, 2016 looks to be struggling to keep pace with 12 months ago. In the first half of 2015 there were 926 transactions worth $28,581 million, while 1,046 deals worth $39,552 million were signed off during the second half of the year. It is worth noting the increase between July and December and many will be hoping to see a similar pattern developing this year to make up for the less than record-breaking start to 2016.

2

In July alone there have been 117 deals worth a combined $ 2,096 million announced, which represents a decent start to H2, particularly given that we are still in the midst of the traditionally quiet summer period. Nevertheless, it is worth noting that 2016 was an especially good year for investment; the last time value reached the heights of the $39,552 million recorded in H2 2015 was back in the second half of 2006, well before the onset of the global financial crisis, when $57,806 million was invested in the healthcare sector.

Despite the fact that 2016 has so far not scaled such heights, there have still been a number of sizeable transactions signed off in the year to date.

Four healthcare deals broke the $1,000 millionbarrier, including a $3,561 million buyout of UKbased hospital operator Priory Group by Acadia Healthcare Company back in February. That was followed by Leonard Green & Partners agreeing to buy ExamWorks Group for $2,200 million in April.

Other deals which surpassed $1,000 million were McKesson’s $1,200 million-purchase of both Vantage Oncology and Biologics, also in April, and Nanjing Xinjiekou Department Store picking up Cayman Islands-headquartered China Cord Blood Corporation for $1,148 million in January. Other countries targeted as part of high value healthcare transactions so far in 2016 include Australia, the British Virgin Islands and China.

Four of the year’s top ten healthcare deals to date feature US targets, including two worth more than $1,000 million, meaning it is unsurprising to see North America lead both the volume and value rankings in terms of target world region for 2016 so far. In all the region was targeted in 545 transactions worth a combined $8,017 million. This places it ahead of Western Europe on both counts; companies there brought in $6,389 million across 189 deals.

The Far East and Central Asia came third by both volume and value with 144 deals worth $3,866 million. It is clear that the value figures for these regions have been significantly affected by a small number of sizeable transactions. For example, the $6,389 million injected into Western European companies was considerably boosted by the $3,561 million Priory Group transaction, which accounts for 56 per cent of the regional figure. The same can be said of the $2,200 million ExamWorks, which accounts for the lesser figure of 27 per cent of total North American investment over the course of the year so far.

The figures recorded for the healthcare industry are not surprising as the declines witnessed are in line with overall deal making trends for 2016 to date. Nevertheless, many will have noted the increase which took place in the second half of last year and will be curious to see whether a similar pattern is detected in 2016.

36 Acquisition International - August 2016

M&A / Sector Talk

Number and Aggregate Value (mil $) of Healthcare Deals Globally: 2006-2016 YTD (as at 26 July 2016)

Number and Aggregate Value (Mil $) of Healthcare Deals Globally by Target Sector: 2016 to date (as at 26 July 2016)

Deal Number half yearly value of deals (Announced date)

Aggregate deal value (mil $)

Zephus classification (target)

Number Aggregate of deals deal value (mil $)

H2 2016

117

2,096

974

18,947

H1 2016

921

20,912

H2 2015

1,046

39,552

Public Administration, Education, Health Social Services

4,589

926

28,581

Personal, Leisure & Business Services

34

H1 2015 H2 2014

913

24,892

Computer, IT and Internet services

14

2,580

H1 2014

920

27,730

Retailing

35

311

H2 2013

913

28,486

11

126

H1 2013

945

17,176

Banking, Insurance & Financial Services Wholesaling

7

73

H2 2012

801

16,801

9

69

H1 2012

746

13,497

Industrial, Electric & Electronic Machinery

H2 2011

688

10,792

Hotels and Restaurants

4

29

H1 2011

660

23,709

23

667

19,580

Biotechnology, Pharmaceuticals and Life Sciences

5

H2 2010 H1 2010

652

12,512

Property Services

4

21

2

19

H2 2009

364

8,442

Agriculture, Horticulture & Livestock

H1 2009

326

4,992

9

390

6,891

Chemicals, Petroleum, Rubber & Plastic

2

H2 2008 H1 2008

386

10,691

6

454

24,267

Transport, Freight, Storage & Travel Services

1

H2 2007 H1 2007

427

30,260

2

425

57,806

Wood, Furniture & Paper Manufacturing

1

H2 2006 H1 2006

397

16,534

Construction

3

1

The last time this level of deal making was recorded was back in the first half of 2007, when value reached $105,637 million. Although the $85,397 million invested in consumer companies in H2 2015 represents a decline on the year’s opening six months, the figure is still some way ahead of results for the first half of 2016. Since the end of June 146 deals worth $6,186 million have been signed off.

Deal type

Number of deals

Aggregate deal value (mil $)

Acquisition

385

12,630

Minority stake Institutional buy-out Capital increase Management buy-out

549 43 48 5

4,802 3,788 1,588 199

Merger

8

0

World region (target) North America

2012

2013

2014

2015

20,178

27,098

23,370

31,441

2016 to date 8,017

Western Europe Far East and Central Asia South and Central America Oceania

4,599 1,584 518 2,333

11,502 2,379 808 3,077

17,819 5,427 894 4,079

11,694 5,915 2,090 4,910

6,389 3,866 2,195 2,159

43 705 50

500 345 178

Western Europe has attracted a significant portion of all deal making in terms of the consumer sector in 2016 to date. Thus far companies in the region have been targeted in deals worth a combined $22,282 million, placing it ahead of North America and the Far East and Central Asia with $16,931 million and $16,071 million, respectively. The same three regions led the way by volume, with Western Europe way out in front with 719 deals while North America and the Far East and Central Asia notched up 287 and 269, respectively.

In conclusion, the consumer sector has not proven to be immune from the declines in deal activity witnessed across many other sectors in 2016.

However, there is still plenty to be positive about as we move into the second half of the year, and with numerous large deals continuing to be signed off, it will just take a few more to push values back to a similar level once again.

Aggregate Value (mil $) of Healthcare Deals by Region: 2006 - 2016 YTD (as at 26 July 2016)

743 58 285

The value of consumer transactions announced in the opening 6 months of 2016 reached its lowest ebb since the second half of 2012. In all there were 1,459 deals worth $54,095 million signed off in the first half of the year, according to Zephyr, the M&A database published by Bureau van Dijk.

As with many sectors, the consumer industry appears to be struggling to keep up with the blistering pace set in 2015, which was by all accounts a recordbreaking year in terms of M&A values worldwide. In the first half of last year, some $91,533 million was invested into the consumer sector.

Number and Aggregate Value (Mil $) of Healthcare Deals Globally by Deal Type: 2016 to date (as at 26 July 2016)

Africa Eastern Europe Middle East

Consumer Transactions

11,163 74 1,060

198 138 45

Number and Aggregate Value (Mil $) of Consumer Deals Globally: 2006-2016 to date (as at 26 July 2016) Deal Number half yearly value of deals (Announced date)

Aggregate deal value (mil $)

H2 2016 to date

146

6,186

H1 2016

1,459

54,095

H2 2015

1,625

85,397

Acquisition International - August 2016 37

M&A / Global Deal Volumes Will Fall Until UK Decides on EU Exit Strategy

Global Deal Volumes Will Fall Until UK Decides on EU Exit Strategy 70% of global dealmakers believe that while Britain remains uncertain about when and how it intends to leave the EU, the number of global deals will fall overall, and 67% believe Britain leaving the EU will have a negative impact on global deal volumes for the remainder of 2016.

his is according to a survey of over 1,000 global dealmakers involved in mergers and acquisitions, conducted after the recent EU referendum and released by Intralinks, a provider of secure content collaboration solutions. Furthermore, contrary to some reports, 82% of UK dealmakers think it’s unlikely they’ll be relocated because of the Brexit decision.

T

Regionally, 61% of Asia-Pacific (APAC) dealmakers and 54% of North American (NA) dealmakers believe the Brexit decision will have a positive economic impact, or no impact, on their region.

Conversely, 73% of dealmakers in Europe, the Middle East & Africa (EMEA) – and 82% of UK dealmakers - believe it will have a negative economic impact on their region.

“A majority of American and Asian dealmakers appear confident that the turbulence in Europe will not negatively impact their respective economies, and it’s very much ‘business as usual’,” said Philip Whitchelo, Vice President of Strategy & Product Marketing at Intralinks. “For example, the APAC region attracts significant inbound investment from foreign investors seeking higher growth opportunities in emerging markets. This means Brexit could easily turn out to be a positive for the region, as acquirers re-direct their attentions from Europe to Asia.”

with the notable exception of Germany where a higher 77% believe there will be a decrease in demand for UK assets in the next six months.

Interestingly, 48% of UK dealmakers and 46% of U.S. dealmakers think there will be a decrease in demand for European assets over the same period as well. Overall, 55% of global dealmakers believe deal values in Europe are more likely to decline as a result of Brexit.

Meanwhile, global dealmakers have also made a number of predictions: 61% think it’s likely other countries will leave the EU over the next year, however 38% do not anticipate a global recession because of the Brexit decision.

“M&A levels are very sensitive to any uncertainty in the market. Unprecedented political upheaval in the UK is a cause for concern for dealmakers at the moment,” Whitchelo comments. “However it’s interesting to see the survey dispel rumours suggesting UK dealmakers are likely to be relocated to other financial centres in the EU, like Frankfurt or Paris. If we see more political stability as time goes on, the impact to dealmakers may not be as cataclysmic as originally anticipated,” Whitchelo concludes.

“Whilst the number of private tech M&A deals dropped slightly in the run-up to the referendum, non-EU investment into the UK has increased substantially this year compared to 2015. In addition, the UK tech sector has historically been fairly resilient to market volatility and economic change, especially in the mid-market.

“Whilst some large EU IPOs or trade sales may be on hold until the dust settles, the UK technology market may be comparatively insulated. The UK tech sector is a market which constantly evolves and is constantly disruptive. As many new players seek to challenge incumbent companies, there is a natural cycle of consolidation. UK mid-market M&A is a legitimate business model, driven by more than just a desire for growth. Strategic acquisitions can bring increased cost savings, as well as an acquisition of talent, products and access to knowhow and intellectual property.

Andy Moseby, corporate partner at technology and digital media law firm, Kemp Little, who specialises in M&A added: “The general view is that a healthy

“That is not to say that UK tech companies won’t face challenges as a consequence of Brexit. We may see a rise in investment in the larger combined EU and European market at the expense of investment in the UK, as well as reduced access to funding (with UK businesses no longer being able to leverage EU grants and subsidies). Arrangements for migration, access to talent and the removal of certain passporting regimes cannot be overlooked either.

“The UK is a leading financial centre with a strong venture capital community, a vibrant entrepreneurial culture and an expertise in agile, fast-moving technology.”

“On the other hand, many will see Brexit as an opportunity. A fall in the value of sterling makes UK assets more attractive to dollar-rich investors and buyers. The UK is a leading financial centre with a strong venture capital community, a vibrant entrepreneurial culture and an expertise in agile, fast-moving technology. Corporate tax rates are favourable and the legal and regulatory environment continues to be robust.

These attributes are unlikely to change in light of the vote to leave the EU.”

According to the Intralinks survey, the demand for UK and European assets is at risk post-Brexit. 66% of global dealmakers think there will be a decrease in demand for UK assets in the next six months,

For further info, please visit: www.intralinks.com & www.kemplittle.com

38 Acquisition International - August 2016

UK M&A sector is driven by market confidence.

Many commentators are predicting a slow-down – at least in the short to mid-term – especially where deals are reliant on the buyer raising funds.

M&A / What will the UK’s Post-Brexit Landscape mean for M&A?

What will the UK’s Post-Brexit Landscape mean for M&A? Uncertainty percolated through to the M&A market in advance of the EU referendum vote, with activity value in the UK dropping 51% on-quarter in the April-June period, from $38.9bn to $19.3bn. In the short amount of time post the vote, activity value has been recovering steadily with Thomson Reuters data showing that since 23 June, almost 60 transactions totalling $34.5 billion have been struck by foreign companies for British firms, compared with 79 deals amounting to $4.3 billion in the month leading up to the vote.

hese figures are, no doubt, as a result of overseas buyers looking to take advantage of the weak pound, so many UK companies may still be taking stock and considering their options. Despite the short-term impact though, one of the interesting questions will be how Britain’s yet-to-be-decided post-Brexit relationship will impact M&A activity in the long-term.

T

From a legal perspective, nothing has yet changed.

The UK remains a full member of the EU with continued access to the single market – meaning that, for the moment, the legal status quo continues.

While we wait to hear the result of negotiations as to the post-Brexit landscape, it should be remembered that each of the commonly discussed models will have their own particular impact on UK M&A: 1. The ‘Norwegian model’ would see the UK leave the EU and join the European Economic Area (EEA) and European Free Trade Association (EFTA), accepting the principles of free movement of goods, services, capital and people in exchange for access to the single market.

In terms of change, this is possibly the lightest touch, meaning a minimal impact. For example, the EU Takeover Directive and the EU Merger Regulations, which provide a single competition clearance process across the EU, will both continue to apply.

2. The ‘Swiss model’ would see the UK leave the EU and join EFTA, but not the EEA. As a result, the UK Government would need to negotiate a series of bilateral agreements with the EU to secure access to the single market.

This model presents greater uncertainty, given that the UK would have the flexibility to change its laws and move away from EU regulations.

In this scenario, companies contemplating, or engaged in, M&A activity will need to be nimble to react to the changing regulatory framework around M&A and also those areas of law that impact on the running of UK businesses, such as tax, employment, intellectual property and data protection.

3. Total exit from the EU and the single market would mean the either relying on the rules of the World Trade Organisation to continue trading with the EU, or seeking to negotiate a new free trade agreement.

•

In a total exit scenario, the issues facing the UK M&A market would be very similar to those under the Swiss model. Acquisitive companies would therefore need to position themselves to react to the changes that would follow.

Those decisions affecting the UK’s future are very much out of the hands of those at the coal-face of the M&A market. The bottom line is that in order to maintain the UK’s strong position, there will be an onus on the Government and its dedicated Brexit team to ensure that the UK remains an attractive place for businesses to operate and to trade with the EU. For now, though, the long term implications are very much a case of ‘wait and see’.

When determining the way forward, the Government will, of course, consider the likely effect of each model on the UK economy. So if the UK does leave the EU, but does not join the EEA, the temptation to cut red tape must be weighed against the potential impact on UK businesses trading or operating in the EU. Until a decision is made about the UK’s post-Brexit relationship, we will not know the full extent to which existing laws can and will be amended or repealed.

In the meantime, those undertaking M&A activity should also bear the following additional points in mind: • The structure and execution of UK private M&A transactions should not to be materially impacted as EU-derived legislation plays little part in the laws governing such transactions.

• For public company acquisitions there are unlikely to be substantial changes to the UK Takeover Code. The Code is a universally accepted and respected regime which pre-dates the EU Takeover Directive and influenced the approach taken in the Directive.

• The nature of intellectual property rights will be affected along with the ability to enforce them. National rights will remain unaffected, but Community Trade Marks and Community Design Rights may cease to apply to the UK. • The UK data protection laws are derived from the EU regime. If the UK Government elects to stay out of the EEA it has the option to amend the current legislation. However, the UK will want to ensure that it has a regime that is regarded as ‘acceptable’ by the remaining EU countries.

The impact of certain EU-derived employment regulations on labour relations, for example the Working Time Regulations, may be affected over time if the UK adopts a more laissez faire approach to the employment relationship.

Company: Pillsbury Law Name: Sam Pearse, Partner Email: samuel.pearse@pillsburylaw.com Web Address: www.pillsburylaw.com Telephone: +44 (0)20 7847 9597

Acquisition International - August 2016 39

Strategic Acquisitions to Drive Wealth Management M&A in H2 2016 Company: Cavendish Corporate Finance Name: Peter Gray, Partner and Head of Financial Services Email: info@cavendish.com Web: www.cavendish.com Address: 40 Portland Place, London W1B 1NB Phone: 44 (0) 20 7908 6000

Wealth management M&A recorded 124 deals in 2015 – the highest number of deals for close to a decade. Pension freedoms, changes in the regulatory environment, increased competition from the emergence of low-cost online advisers and strong overseas buyer interest were among the prime drivers for what many believe will be the start of a decade of change for the wealth management industry.

Peter Gray, Partner and Head of Financial Services at Cavendish Corporate Finance, the UK’s leading sell-side mid-market M&A firm, shares his views on whether this on-going trend is set to continue and what we can expect in terms of wealth management deal flow for the rest of this year and beyond.

ndustry consolidation will drive M&A Europe represents one of the largest global opportunities for wealth management with around €18 trillion of financial assets held by individuals. Wealth managers enjoy average returns on equity at around 13-15% so there is little surprise that wealth management firms attract high levels of buyer interest.

I

The industry faces significant challenges, however, with increased competition, compressed fees, rising costs and damaged client trust, while at the same time investors have maintained their high return expectations.

The industry faces significant challenges, however, with increased competition, compressed fees, rising costs and damaged client trust, while at the same time investors have maintained their high return expectations.

As a result, wealth managers are fundamentally having to remodel their value proposition and are restructuring their businesses through bolt-on acquisitions, or even more radical M&A activity. We expect these dynamics to continue to drive M&A into the second half of 2016.

40 Acquisition International - August 2016

Tougher regulation to continue to play a role A notable trend in the wealth management sector has been the continued increase in the cost of compliance over the past few years which has made it far more difficult for smaller wealth management companies to continue to operate efficiently.

This has been a key driver behind recent deals including Tiedemann Wealth Management’s merger with Presidio Capital Advisors and Prospect Wealth’s acquisition of CFS Portfolio Management for £16 million. Looking forward, we do not believe that regulatory pressures will abate, which will continue to impact the cost base of smaller wealth managers and in turn will remain a key factor in underpinning deal flow.

Challenge of the fintech disruptors The most disruptive force in wealth management to date has been the rise of robo-advisors. By automating much of the portfolio management service, robo-advisors are challenging the traditional offerings of wealth managers and appealing to lower-end customers and a digitally-driven younger generation. In efforts to attract the next generation of affluent savers, larger wealth managers such as Fidelity, Vanguard and Schwab have started to offer robo-advice. Their smaller counterparts however have struggled to adopt this disruptive technology and are still reliant on traditional, more costly methods of advising their clients. This is why we can expect merging or growing by acquisition to try and compete with robos to be a hallmark of wealth M&A in 2016.

M&A / Strategic Acquisitions to Drive Wealth Management M&A in H2 2016

Cross-border deals likely to star We have continued to observe cross-border transactions as wealth management firms have identified potential takeover targets with competitive advantages in their home markets, a notable trend seen during 2015. This year, there continues to be a number of overseas wealth managers targeting UK firms with Liechtenstein’s LGT Group acquiring a majority stake in Vestra Wealth and Societe Generale acquiring Kleinwort Benson earlier this year.

Private equity appetite drives activity Private equity has considerably increased its activity in the wealth and asset management space as it has moved to take advantage of the sector’s attractive fundamentals. Attributes, which include healthy margins and low capital intensity, have been boosted recently significant volume of funds released from pension plans under the recent pension freedom reforms, and have not gone unnoticed by private equity.

Last year deals included Palatine Private Equity’s acquisition of financial planning business Towergate Financial and mortgage broker John Charcol, and Equistone’s £50m management buyout of Wealth at Work. This year, while we anticipate similar deals, we also expect private equity houses to focus on traditional wealth manager and roboadviser combinations.

Wealth managers will remain attractive despite Brexit concerns We can expect a post-Brexit environment to increase the volume of transactions as wealth managers seek the security of their bigger counterparts, while a weaker Sterling will make smaller wealth managers attractive takeover targets for overseas buyers looking to enter the UK market.

Acquisition International - August 2016 41

1608AN08

Company: International Business Group, LLC (dba IBG Business) Name: John C. Johnson, managing partner & principal Email: IBG@IBGBusiness.com Web: www.IBGBusiness.com Address: Principal Offices – Arizona, Colorado, Oklahoma, Pennsylvania Phone: + 1 800 933-4558

Business Valuations - IBG Business IBG Business is a highly renowned leader in business sales and acquisitions of privately held lower middle-market companies. We spoke to John Johnson, managing partner & principal at IBG, to find out more about their company, and why is it crucial to have an appropriate real world market value opinion prepared for business transactions.

t IBG, we assist business owners in valuing and selling their companies at the appropriate time, for optimal terms and value. Essentially, IBG exists to bring merger and acquisitions skills, resources, and knowledge to company owners preparing to sell a business or make an acquisition. IBG’s team is defined by its expertise, character, and commitment to deliver exceptional results through M&A broker and adviser services for business owners in acquiring and divesting businesses. As a result, their clients succeed as IBG delivers their best opportunities, confidentially and with superior results.

A

More specifically, IBG Business specializes in a refined execution of professional processes for the purchase or sale of businesses. The firm’s extensive background, training and resources are used to evaluate the likely market reaction to a business, advise owners on succession timing and options, then strategically implement an exit strategy to best achieve the objectives of business owners.

“We observe price as a common marker for value, yet it is the tip of the iceberg.”

When it comes to business valuation, one job of ‘opposing’ parties in a business acquisition is to close a transaction that best serves the interests of the buyer or seller, respectively. For a transaction to get done, those same opposing interests must accommodate the needs of their opposing counterparts and benefit them sufficiently to permit agreement to be reached.

My colleague John Zayac, who is also a managing partner and principal, explained it very succinctly when he said: “We observe price as a common marker for value, yet it is the tip of the iceberg.

Price is predicated on a complex foundation of value components, such as shifting responsibilities

42 Acquisition International - August 2016

for business risks, payment terms, tax treatment, and intangible values, which may move price dramatically, as a business sale is negotiated.

Quality transactions are managed to keep the polarizing realities within a cooperative framework to improve the odds of closing and to enhance the ability of the parties to work well together going forward after a close.”

Entering the arena for selling a business, or even when taking steps to begin early preparations for a future exit, owners are wise to seek professional help in answering the question of ‘what is my business really worth?’ Gary Papay, IBG partner in Pennsylvania adds that an equally important question is ‘and why?’ Answering the question of why a business value is what it is will prove very instructive as to what might be done to change the business or position terms of a potential sale to enhance a seller’s value. Properly ‘setting the table’ before taking a business into the market can often provide big swings in value.

Casual opinions on what a business is worth are as abundant as sparrows. Seldom do those opining have any depth of market knowledge, know the business particulars, describe the relevant deal terms, or have the expertise for their views to be competent. Commonly, business sellers may seek a well-prepared fair market value opinion to help guide them. This is an improvement, but is often lacking to benchmark business values to help guide a business sale. A theoretical fair market value of a business is better suited for divorce, litigation, or estate planning, owing to its hypothetical, objective, check all the boxes regimen. To prepare for a business sale, it is best to get real world guidance that merges appraisal techniques with informed judgement of experts in managing the sale of businesses within the nuances and practicalities of a ‘real deal’ transactions market.

Experienced M&A broker and adviser firms can often deliver a market opinion of business value or business pricing strategy opinion to gauge likely market value response to a business and to help prepare business owners to deal with market dynamics. Often these will be stated as a range of values and articulate underlying factors leading to

M&A / Business Valuations - IBG Business

the value opinion, as well as the potential impacts of alternative deal structures. They may also bring out ideas for working to remove obstacles and implement strategies to enhance business value in the sale process.

With all of these aspects in mind, to realize optimum results from selling a business, owners are wise to first seek expert guidance to help them foresee and manage the numerous factors, including understanding value issues, that lead to the best results for reaching their objectives from their sale.

Ultimately, valuation is theoretical, whereas mergers and acquisitions are dynamic and practical. The valuation work done in advance of selling a business is a critical preparation step. Deal dynamics and markets are vital determinants of real world value.

For example, Jim Afinowich and Bruce Black in IBG’s Arizona office recently closed a cash sale at $120 million for a food manufacturing client. A competent fair market value at the start of the process might have concluded the value to have been around $20 million. The seller was advised to decline early offers and build value in the business, as demand momentum was building in the industry vertical. In the end, the underlying value of the business did improve, but perceiving and capturing the market dynamics led to a closed sale at a far higher price than could have been estimated. The buyer was buying for market control and expansion.

Jim and Bruce, as experienced merger and acquisition professionals, sensed the opportunity and delivered a superb price for IBG’s client.

Going forward, mergers and acquisitions activity remains solid for quality businesses in the lower middle market. The markets are looking as if they may cool coming off of the white hot market of 2014 through late 2015. That being the case, valuations and demand are still excellent. However, the need to understand business valuations before stepping into this evolving market is critical. As such, mergers and acquisitions broker and valuation firms that are active full-time in the markets will remain vital resources to owners looking to sell a business at top value.

Acquisition International - August 2016 43

TAX / Complex tax Environment is Quite Literally, ‘Taxing’ the Brains of more than 850,000 UK SME Leaders

Complex tax Environment is Quite Literally, ‘Taxing’ the Brains of more than 850,000 UK SME Leaders A survey of more than 1,000 UK SME decision makers, by business insurance specialists Hiscox, reveals more than one in four (27%) of the nation’s small businesses are struggling to deal with tax, finance and accounting.

f those needing help in this area, IT and tech business owners identify tax legislation as their biggest challenge, with 76% saying they need more support. More than 850,000 UK small and mediumsized businesses are struggling with the challenges posed by the UK’s complex tax systems, according to a study from business insurance specialists Hiscox.

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Results from the Hiscox survey [1], supported by YouGov, reveal that 27% of small and mediumsized businesses – as many as 1.45 million of the 5.36 million SMEs nationally [2] – are in need of support and advice when it comes to working their way through UK tax regulations, managing business finance and looking after their accounts.

Of those needing support in these areas, tax legislation was cited as the joint biggest challenge with 59% of respondents – equating to more than 850,000 SME businesses nationwide – struggling to work their way through the UK’s tax regulations.

Bookkeeping and accounting (50%) and payroll and tax returns (45%) also came high in the list of challenges faced by UK SME businesses.

Spotlight on IT, technology and e-commerce firms The UK’s complex tax environment was also found to be the number one challenge for IT, technology and e-commerce SME leaders. Of all the businesses requiring help, 76% of firms from the sector listed tax legislation as their biggest challenge. Payroll and tax returns (58%) was also cited as a major concern, along with bookkeeping and accounting (56%).

The study also found that business leaders in this sector wanted more support in the areas of tax reliefs and incentives, and more information on how to manage tax efficiently as their businesses evolve and grow in the UK and abroad.

In response to the demands from IT, technology and e-commerce company owners – who called for more advice articles (48%), how to guides (43%) and thought leadership (19%) – Hiscox has worked alongside two accountants and tax specialists to create a series of free handy tax guides which are available at https://www.hiscox.co.uk/businessblog/tailored-business-guides/a-guide-to-tax-for-itbusinesses-tax/.

The new Hiscox SME business guides consists of a four-part series in which Chris Cairns from Alliotts Chartered Accountants and Trevor Shaw from Dains Accountants use their combined 50 years’ experience advising businesses on their tax strategies to explain how they can tackle some of the major problems faced by IT and technology businesses in particular.

For more information, visit: https://www.hiscox. co.uk/business-blog/tailored-business-guides/aguide-to-tax-for-it-businesses-tax/ Source ref 1: Results taken from a Hiscox and YouGov study of more than 1,000 senior decision makers in UK-based SMEs. Source ref 2: Federation of Small Business SME statistics sourced from http://www.fsb.org.uk/ media-centre/small-business-statistics.

“IT and tech business owners identify tax legislation as their biggest challenge”

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TAX / Impact of passage of the GST Constitutional Amendment Bill

Impact of passage of the GST Constitutional Amendment Bill On August 3, 2016, the Rajya Sabha, the upper house of Indian Parliament, passed the 122nd Constitutional Amendment Bill for the introduction of the Goods and Services Tax (GST).

he introduction of Goods and Services Tax (GST) would be a very significant step in the field of indirect tax reforms in India. GST is a big bang reform for the Indian economy by developing a common Indian market and reducing the cascading effect of tax on the cost of goods and services. It will impact the tax Structure, tax Incidence, tax computation, tax payment, compliance, credit utilization and reporting leading to a complete overhaul of the current indirect tax system.

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By amalgamating a large number of Central and State taxes into a single tax, it would mitigate cascading or double taxation in a major way and pave the way for a common national market. From the consumer point of view, the biggest advantage would be in terms of a reduction in the overall tax burden on goods, which is currently estimated at 25%-30%.

Introduction of GST would also make Indian products competitive in the domestic and international markets. Studies also show that this would spur economic growth and add an incremental 100-200 bps to the GDP growth rate. Last but not the least, this tax, because of its transparent character, would be easier to administer and possibly lead to higher tax collection.

3.

4.

5.

6.

List of exemptions; Consensus on GST Law; Consensus on threshold limit; Administrative control over scrutiny cases by Centre and State.

The government seems keen to put all its effort to meet the deadline. Industry Inc. need to gear up with the requisite preparation for transitioning into the new unified GST regime.

What will be the rate of tax?

This is something that the GST council headed by the finance minister will decide in the next step. The Subramanian Committee has basically recommended four slabs of taxes with standard rate on goods and services between 16.9 % to 18.9 %.

It is important that the GST council chooses a reasonable rate of tax. The unweighted OECD average rate for GST was 19.1 % in 2014 and 18.7 % in 2012. The recommendation of the Subramanian committee of a standard rate of 16.9 % to 18.9 % is in line with the OECD average. Given the current rate of service tax is 15 % (including the cesses), a tax rate of 16.9-18.9 % is likely to make services expensive in the short run.

While the rate of inflation is initially expected to go up, over the longer term, the inflation does come down as the cascading effect of indirect taxes is done away with and the cost of doing business comes down. It is expected that inflation as measured by the consumer price index is likely to go up by 60 basis points in the short-term post the implementation of GST but after a lag comes down in a sustainable manner. This will be in line with global evidence where inflation does go up in the short-term wherever good and services tax is actually implemented.

To conclude, there are many good things about the GST. It is a reform that will add significant growth wings to the Indian economy and growth trajectory. It will be a structural change for India Inc. benefitting all the stakeholders by spurring the growth momentum. We believe that the GST implementation module will be hugely positive for both the debt and equity markets in India and it may well be the right time to start monitoring the calendar of GST and increasing India specific investments based on the implementation that is demonstrated.

For more details, please visit: http://www.zyfin.com

The entire process towards the implementation of GST has been identified into three broad categories, that is the legal framework, IT infra and change management with tentative timeline against each of them.

Important timelines highlighted in the Road-map are as under: 1. Ratification of the Constitution Amendment Bill by 16 States within 30 days; 2. Presenting all legislative bills in the winter session of the Parliament and the State Assemblies Constitution of GST Council within 60 days of enactment; 3. Establish GST Network and States IT backend by November 2016; 4. Testing of software with live transactions by January 2017; 5. Outreach programme as a part of change management to be completed by March 2017.

Key challenges are with reference to: 1. GST rate structure; 2. Calculation of revenue base compensation;

and

the

Acquisition International - August 2016 45

TAX / Resolving Tax Controversy: Volatility and Complexity in Tax Rules

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Volatility and Complexity in Tax Rules

Resolving Tax Controversy

AVELLUM is best known for its expertise in transactional tax and international tax planning. The firm’s unmatched experience allows us to provide clients with the best quality services in these fields.

Our tax controversy practice evolved from this expertise. An in-depth knowledge of the transaction enables us to be most efficient in resolving tax disputes.

he BEPS project and related tax changes are ‘the end of an era’ in tax planning, though this is not the end of tax planning as such. In our view, it is not the first change of this scale. The introduction of CFC rules in developed countries seemed to bring an end to international planning several decades ago.

In fact, it only prompted the development of hybrid instruments. Nevertheless, the magnitude and global reach of BEPS are greater than ever before.

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The paramount issue today is that tax payers should not expect any grandfathering or stabilisation.

AVELLUM see on a global scale that governments are trying to impose taxes retroactively. The argument they raise is that taxation in the past was formally compliant, but unfair and abusive or even immoral. We believe that this fundamentally undermines legal certainty for the taxpayers in an unprecedented way.

One of the reasons for volatility and complexity in tax rules is the global change of G20 tax vector.

For many years, the OECD stated the developed international system to protect their residents from taxation abroad (in source states). The digital economy and globalisation made these states vulnerable to all the leakages of the system they developed. It was expected that in such situation, developed countries would introduce effective protective measures.

Traditionally, Ukrainian tax authorities are quite aggressive during tax audits and usually issue significant tax assessments. Many of these are not well-justified. As a result, Ukrainian businesses pose an inherent risk of tax assessment and tax controversy.

At the international stage MNEs are not used to such an aggressive approach in tax affairs. Apart from certain ‘traditional’ tax risk zones (such as transfer pricing in pharmaceutical industry and dealings with several emerging markets known for protection of tax base), MNEs were not subject to imminent and constant risk of tax controversy.

46 Acquisition International - August 2016

Tax planning projects in our firm face similar challenges as the industry in general. The global reshaping of the tax landscapes leads to significant changes in tax planning strategy and tactics. Instead of creative experimentation with forms and substance, planning is concerned with the matching and mapping of the genuine business structures, along with the available tax incentives.

In the same time, our tax controversy practice does not seem to have any significant challenges.

One of the biggest changes we expect in this sphere is increasing role of alternative dispute resolution methods in tax matters.

Company: AVELLUM Name: Vadim Medvedev Email: vmedvedev@avellum.com Web: www.avellum.com Address: 38 Volodymyrska Str., 4th floor, 01030, Kyiv, Ukraine Phone: +38(044)591 33 55

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Company: Nazali Attorney Partnership Name: Ersin Nazali Email: enazali@nazali.av.tr Web: www.nazali.com.tr, www.nazali.av.tr, www.vergiajandasi.com Address: Elit Residence, 19 Mayis Blv, Dr.Ismet Ozturk Str. No: 3/28, Flr:10, Sisli/Istanbul Turkey Phone: +90(212)380-0640

Taxing Times Base in Istanbul, Nazali Tax and Legal Services is a highly renowned firm who provide a wide range of consultancy and litigation services both nationally and internationally. We spoke to Ersin Nazali, managing partner at the firm, to find out more about the work they do, and get his unique insight into the many challenges facing the tax industry today.

ince their inception in November 2014, Nazali Tax and Legal Services have embarked on a journey of continuous growth. In total, there are seven partners, seven lawyers, two sworn financial advisers and four certified public accountants and four associates. According to Nazali, the experience and dedication of their staff has allowed them grow significantly within such a short period of time.

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Resolving Tax Controversy

“Even though Nazali is a newly established firm, the volume of restructuring transactions it conducts and litigation cases it follows-up has increased considerably,” Nazali stresses. “Currently Nazali provides tax consultancy and litigation services to its both local clients and international clients (investors) for their affiliates in Turkey” he adds.

“The reason behind this is because our lawyers and consultants work together as a team in almost each transaction,” added Nazali. “As they all have parallel experiences and deep knowledge on tax/ fiscal issues, they complement each other perfectly and therefore have a major role in the successes of our firm” he goes on to say.

As a result of their wealth of experience and expertise, Nazali is confident that their firm can provide a truly exceptional service that is highly distinguishable from their peers. As Nazali outlines: “All of our lawyers and consultants are seasoned professionals who had formerly worked in a number of different areas,” says Nazali. “As such, our firm guarantees the most accurate service to its clients, especially in the areas of tax and commercial law.

“Ultimately, we stand out from the crowd thanks to our team who have worked in the Ministry of Finance and Internal Revenue Service as tax inspectors for many years, and have therefore extended their knowledge and high experience with private sector and tax audit companies. Thus both of our consultants (sworn financial advisors and certified public accountants) and lawyers who have public and private sector experiences as executives (working both as auditor and auditee), so they are very capable to provide people based solutions by considering the clients’ business strategies and necessities.”

48 Acquisition International - August 2016

With this unique blend of attorneys and certified accountants, Nazali provide a variety of services in the field of tax law. This includes advisory services such as transfer pricing, tax planning, tax due diligence and international taxation. Alongside this, the firm also provide restructuring services, including consultancy for domestic investments under the scope of international agreements, mergers and spin off transactions.

Furthermore, Nazali also work on tax dispute resolutions, whether it be consultancy on tax inspections, or the representation of the clients before the report evaluation commissions or followup tax litigation. “As Nazali, we offer our clients consulting and litigation services about all disputes in tax, social security and customs areas. The most common dispute our clients face in practice, about which our firm has significant experience and knowledge, are in areas such as tax inspection consultancy, settlement meetings and litigation, to name just a few.”

When asked about their approach towards tax advisory services, Nazali responded: “Our aim as aa tax adviser is to guide our clients to manage tax as an operating cost as well as enabling their companies to operate in line with tax regulations.

Within this scope, our priority is detecting the potential tax risks of companies (through conducting tax DD’s), reviewing the problems, enabling to decrease the tax burden (through tax planning), giving guidance regarding certain tax practices and informing and providing solutions by analysing financial and commercial status and understanding the clients’ needs.”

In terms of restructuring, Nazali firmly believes that their mix of accountants and attorneys is particularly useful in this respect. “In some cases, the ‘restructuring’ appears as full or partial spin-off, vertical or horizontal mergers and conversions of company types, whereas sometimes is seen as equity/capital restructuring or acquisitions/take over transactions.

“Due to their nature, these transactions should be performed considering both commercial code and tax legislation, otherwise, if restructuring is not carried out properly, serious consequences may arise. Thus, in order to benefit properly from

TAX / Taxing Times - Resolving Tax Controversy

the transaction, it is crucial that this complex process is carried out by a single source that can provide advice in both commercial law as well as accounting and tax aspects. In this aspect, all necessary financial and legal services are provided with our expert team in Nazali.”

In terms of their clients, Nazali cater for a highly diverse range of individual and businesses. In this regard, their advisers are constantly in close contact with their clients in order to deliver the best possible service. “We have both Turkish and multinational clients and provide all above mentioned services to their affiliates and for both their Turkey related transactions and abroad restructurings. We have offices in İstanbul (main office), İzmir (for Aegean region), Ankara and we planning to have one in Bursa shortly.

So, we periodically visit our clients (the ones residing in Turkey) and hold meetings for evaluating their needs. Our foreign clients have contacted us through reference firms and keep in touch by holding conference calls and our periodic reporting about the progresses in tax legislation, or the phase of the litigation followed by Nazali. We also issue circulars about any tax related news in Turkey and send e-mails to whole clients”

exports and imports, introducing new income tax law enabling monitoring individual’s private capital transactions etc.”

Looking further into the latter half of 2016 and beyond, there are many challenges facing their firm. “Turkey is going into a new era about tax issues as both current income and corporate tax will be abolished and new income tax legislation will be announced; and the same is valid for current tax procedural law. Besides, the number of tax inspectors are doubled to conduct much more and qualified inspections, against both companies and individuals.

“With this in mind, we can say that approach of Turkish Tax Authority is getting more disciplined which means that tax payers now have to be much more careful about their investments and accordingly work with tax experts to eliminate tax assessment risks. We hope that we will continue to serve our clients in this regard.”

As a company that is deeply dedicated to serving their clients, the company is constantly looking at the latest trends and developments occurring in their industry. Of course, tax has made many headlines this year, and according to Nazali is simply not a prevailing issue in his region. “In respect of Turkey, as it is not a tax heaven country the ‘payment of tax’ is inevitable; meaning that if an investor wants to do business in Turkey, it has to incur/bear the tax consequences.

“In other words, as long as an investor (company) pays its debts duly, no controversy preventing it to do business will emerge. On the other hand, there are vital tax incentives and tax allowances enabling business. To conclude, even though one has to face tax controversy in business life, this can be moderated and smoothened by the assistance of a tax advisor conscious of tax friendly measures.”

Much like any other industry, another major trend in tax has been the continuous influence in technology. As Nazali, explains: “Both companies and investments have evolved continuously, and it has become much easier to do business and transfer goods, services and capital globally by the aid of technology. Since scope of business extended highly, it is not easy to control and audit these transactions in respect of tax authorities any more compared to five years ago.

“Therefore, to eliminate base erosion and profit shifting (BEPS) and control inter-company transactions, the measures taken by the governments, including Turkey, have increased considerably especially because of the vast improvements in information technology, internet environment and accordingly commercial life.

These measures can be listed as an increase in number of tax inspectors (doubled) and tax inspections, increase in criteria of reporting by banks and finance institutions, controlling customs,

“Our firm guarantees the most accurate service to its clients, especially in the areas of tax and commercial law.”

Acquisition International - August 2016 49

TAX / Ones to Watch - France: Starting out in Business 1608JC33

Cabinet François Provenchere Company: CFP (Cabinet François Provenchere) Name: Mr François Provenchere Email: cfproven@club-internet.fr Address: 11 rue François VILL0N 75 015 Paris Phone +33 6 22 04 35 25 or +33 6 81 79 88 71

Starting out in Business Cabinet François Provenchere (CFP) is located in Paris in the 15th. arrondissement (métro Vaugirard), and was founded 25 years ago. CFP is an accounting firm registered to the French Order des Experts Comptables, and is also an auditing firm registered to the Commissaires aux Comptes.

Today it only retains the audit Commissaire aux comptes activity.

Ones to Watch - France

C • •

FP is an associated firm who deal with reporting, payroll, vat and so on. In my opinion, audit activity deals with:

Ltd companies or associations whose yearly income is over 153,000 euros; Mergers and acquisitions, when necessary to give a value for increase in share capitals for example.

The firm’s staff consists of three experienced individuals, consisting of a tax senior age 40, an audit assistant age 50 and a legal assistant age 38. I have a full diploma in Expertise Comptable, plus a degree in law, plus the diploma of the Paris Sciences-Po School, equivalent to the London School of Economics.

50 Acquisition International - August 2016

On the subject of people, the kind of clients the firm serve are mainly in French subsidiary of US, British and Dutch firms working in investments in real estate properties, hotels, restaurants, advertising, schools and large associations. CFP usually approaches clients through relationship building, by networking at conferences and through case studies and so on.

The challenge in the future is to help meet the needs of client, by lending them the firm’s undoubted experience in auditing, in appraisal, legal and tax matters. All such matters are very sophisticated and not familiar to many people who have had a business project, so in our opinion anybody who is starting a new business must to take comprehensive advice before setting out to do so.

INVESTMENT / European High Yield is Still an Attractive Yield play, says NN Investment Partners

European High Yield is Still an Attractive Yield play, says NN Investment Partners European High Yield (HY) debt has performed quite well so far this year, with a total return of 4% for the asset class over the first six months of the year. Going forward, NN IP believes European HY still represents an attractive asset class as it is well supported by the macroeconomic environment and the credit fundamentals, while also the technical picture is benign

Brexit is not likely to derail the positive momentum in global credit markets; • European High Yield spreads still compare favourably, while the near-term technical picture is very supportive.

high yield spreads still compare favourably. So without signs of any substantial credit deterioration, a decent macroeconomic backdrop, and relatively fair valuation levels, we remain constructive on high yield as an asset class.”

In addition, the yield of 4.1% compares favourably to other fixed income asset classes, particularly European government bonds or investment grade credits. NN IP expects that the Brexit vote in the UK will not affect the economic outlook significantly.

The ‘search for yield’ is clearly a dominant theme in fixed income markets. Haverkamp on the technical picture for the asset class: “An additional supportive factor in the short term is the technical picture. Both in Europe and the US, the search for yield continues. With limited new issuance expected (due to blackout periods and summer holidays), high cash levels amongst investors, conservative market positioning (as reflected in the YTD underperformance of most active managers), zero inventory at investment banks and the offerless market of the last days, we believe that the near-term technical picture is likely to be positive for HY credit”.

•

Sjors Haverkamp, head of European high yield at NN Investment Partners, outlines: “While growth estimates for the European economy may be revised downward somewhat, from a fundamental point of view, we see little impact on the global economy from the Brexit outcome. Obviously, the depreciation of the pound sterling (GBP) is likely to affect companies with GBP earnings and non-GBP costs.

Besides, corporate and consumer confidence in the UK will likely be impacted negatively. However, in contrast with the perception of many market participants that live and work in London, we believe that Brexit is not likely to derail the positive momentum in global credit markets, as we think the UK is simply not important enough. We do not expect a material increase in credit losses as a result of Brexit.”

“From a macroeconomic point of view, we see the recent job numbers in the US illustrating the resilience of the US economy. On the flip-side, we do acknowledge that continued strength in macroeconomic data comes at the risk of increasing rate hike expectations. At the same time, we think that an increase in rates should be seen as a sign of underlying economic strength and not as a threat to the high yield market.”

Valuations still offer support, says Haverkamp: “From a valuation point of view we are still comfortable with high yield, both in Europe and in the US. Valuations are not extreme and both historically and versus other asset classes, like government bonds and investment grade credits,

52 Acquisition International - August 2016

In Europe, in addition, the ECB’s quantitative easing program is a supportive factor, both in terms of size and in terms of bonds eligible for the program. The inclusion of corporate debt has led to a very supportive market environment and to a further tightening of yield levels. The lack of yield on government debt, as well as the low yields on investment grade corporate debt, is forcing investors to go for lower credit quality to realize higher total return levels.”

Wrapping it all up, Haverkamp believes European HY will continue to be able to provide attractive returns. Haverkamp about his return expectations: “We believe that barring any unexpected external events, investors can expect the asset class to return approximately 4.5% over the next twelve months. In our view, this total return represents an attractive investment opportunity.”

Web Address: www.nnip.com

INVESTMENT / Global Real Estate Returns 4.2% in July and Outperforms Equities by over 10% year to date

Global Real Estate Returns 4.2% in July and Outperforms Equities by over 10% year to date Global real estate returns 4.2% in July and outperforms equities by over 10% year to date, NN IP analysis shows. Falls in government bond yields are boosting the global real estate sector, which returned 4.2% in July, analysis by NN Investment Partners shows.

lobal real estate has now reached a year to date performance of 13.9%, which is more than 10% higher than global equities, the analysis shows. Patrick Moonen, principal strategist, multi asset, NN IP, commented: “Even the recent shift from investors towards more cyclical market segments did not dent the relative performance of the asset class.

The explanation is as simple as straightforward: The drop in government bond yields.

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“Bond yields are the prime driver of the strong performance of real estate but it is not the only driver. The excellent performance hides some wide regional divergences. The US and the Eurozone

markets realised double-digit returns since the start of the year whereas Japan and the UK are deep in the red. This is a clear illustration that low bond yields alone not enough to drive real estate.

Economic and political visibility as well as earnings are also key drivers.”

Real estate is currently a small overweight in NN IP’s multi asset portfolios. Patrick Moonen added: “Overall, we believe the prospects for real estate remain good. The more fundamental drivers are still supportive. The labour market is strengthening which should influence the demand for office space. It will also support the housing market as affordability will improve thanks to higher income

and continued low mortgage rates. On top of that, after years of being below-average we think the household formation will move up again and increase the demand for housing.

“Rising income translates into rising consumer confidence and ultimately into higher retail sales.

This is supportive for retail real estate even if the rising importance of internet sales is changing the nature of it. Next to prime locations, there will also be a growing need for real estate in logistics and warehouses.”

Web Address: www.nnip.com

Acquisition International - August 2016 53

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Copperstone Capital is an investment management firm founded in 2009 with offices in Moscow, Russia and London, United Kingdom.

We manage wealth for high net worth individuals and institutions through various hedge fund strategies.

16 Sadovnicheskaya Street, Moscow, 115035, Russia T +7 495 988 0010 F +7 495 951 1410 www.copperstonecapital.com

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Company: The Richland Companies For Leasing information, please contact Mitchell Covell with Richland Leasing via email mcovell@rfs-inc.net or by phone at on +1 800 368 6707 For Brokerage opportunities, please contact Michelle Kirsch via email kirsch8@ sbcglobal.net or by phone at office on +1 214 521 2060 Web Address: www.therichlandcompanies.com Address: 550 Post Oak Boulevard, Suite 420, Houston, TX 77027

Experience, Foresight and the Commitment to Deliver Experience, foresight and the commitment to deliver: that has been the Richland promise since 1993. Headquartered in Houston, Texas with offices in Dallas and San Antonio, this woman owned and managed firm is now one of the premier real estate investment companies in the Southwest United States.

he Richland Companies has received a remarkable array of top honours and accolades from esteemed organisations and publications including CREW’s 2013 New Sponsor of the Year, the Houston Business Journal, the Dallas Business Journal and the San Antonio Business Journal, as well as recognition in major media outlets including MSN Money, USAToday.com, Forbes, Smart Money, Dallas Morning News, Houston Chronicle, San Antonio Express-News, Globe St., Texas Real Estate Business, REDNews, Retail Traffic and Retail Estate Forum Magazine.

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2016 Business Leaders

Foresight Using our unparalleled market knowledge, the Richland team identifies high-potential properties in locations positioned for extreme growth. Our insightful acquisition and disposition strategies ensure a diverse and ever-expanding portfolio of attractive investor offerings that deliver real returns.

We have selected five states as prime targets for acquisitions over the coming years: Texas, Oklahoma, Mississippi, Tennessee and Arkansas.

At The Richland Companies, we approach every investor relationship as a true partnership.

The commitment to deliver With specialists in each field of real estate managing every area of our business, we provide a full suite of offerings including investment opportunities, commercial mortgage, leasing services, tenant representation, asset and property management, as well as construction. Integrating these services under the Richland umbrella enables us to be more agile in the marketplace, make quicker decisions and customise terms for our properties.

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At The Richland Companies, we approach every investor relationship as a true partnership. Founder and CEO Edna Meyer-Nelson and her partner, Suzanne Klein of SKK Oil and Gas Investments, acquire each property as majority co-owners, making sure that each real estate purchase is personal and profitable for themselves and their investors.

Richland follows through on each investment by managing and leasing our own properties through the Richland Property Management and Richland Leasing divisions. We manage all Richland properties, and a select group of thirdparty properties that strategically complement our owned and managed properties, so we can devote our exclusive attention to maximising value for our investors.

The firm’s unique focus on tenant success means that we go beyond the usual parameters of real estate investment because we take a personal interest in the prosperity of our tenants because we believe our success begins with theirs. We continually work with our tenants to meet their business needs; this means we’re prepared to help with everything from flexible leasing arrangements to office furnishings. We are pleased to say this focus on tenant success has enabled us to maintain a 90% occupancy rate across the Richland portfolio.

Edna Meyer-Nelson Founder and CEO Edna Meyer-Nelson prides herself on her ability to put the correct person in the right position, indeed she has hand-selected a seasoned team that offers a full spectrum of commercial real estate expertise.

To date, the firm have purchased, operated and managed over 4 million sq ft of commercial real estate valued in excess of $425 million. However, at Richland, we are never content to rest on our laurels. The Richland team is continually fine-tuning our skills, with seminars and weekly meetings, so that our clients always benefit from leading-edge market insights.

INVESTMENT / 2016 Business Leaders: Experience, Foresight and the Commitment to Deliver

Edna Meyer-Nelson skillfully oversees and directs all of the business activities for this multimilliondollar firm. Edna is a graduate of Southern Methodist University in Dallas, Texas with postgraduate degrees from University of Houston and University of Colorado.

In 2010, she was appointed chairman of the Advisory Council for The Texas Heart Institute’s Center for Women’s Heart and Vascular Health.

A long time board member of Houston Children’s Charity, in 2009, Edna earned the distinction of serving as its first female President.

Edna holds the distinction of being named one of the Houston Business Journal’s inaugural Women Who Mean Business Finalists in 2016, the inaugural C-Suite Best For-Profit CEO by the Houston Business Journal in 2015 among an impressive list of her deserving accolades and awards.

Her career began in the banking industry where she served as a vice president, commercial loan officer and marketing director for several of the larger banks in Houston. During her tenure, MeyerNelson’s duties included initiating commercial loans, small business loans, real estate loans and executive lines of credit. Managing over $50 million in assets, she assisted in the buy-outs of several independent banks, initiated and incorporated new, cost-effective programs, and actively encouraged executive women to enter into new business ventures.

She also sits on the boards of several other charities and organisations including the Executive Advisory Board-Graduate Real Estate Program, C.T. Bauer College of Business and the Houston Police Foundation.

She is an active member of the American Business Women’s Association and the National Association of Professional Women as well as a frequent guest lecturer for a variety of graduate, undergraduate and continuing education courses at Rice University and University of Houston.

In addition, she is a supporter of Houston Crime Stoppers, member of The Cooley Circle, a Charter Member of Baylor Research Advocates for Student Scientists and the recipient of the CAPS Cherished Companion Award.

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MANUFACTURING / Brexit: Ten Things Manufacturing Companies Should Know

Brexit: Ten Things Manufacturing Companies Should Know The future of manufacturing in the UK seems as tough to predict as last month’s surprise outcome of the Brexit vote itself. The result of the referendum for the UK to leave the EU is creating widespread uncertainty.

n an effort to provide some clarity, Frost & Sullivan’s Manufacturing Leadership Council has identified 10 things that manufacturers should know about when trying to assess the future of manufacturing in the UK and globally, and the potential implications of Brexit on their businesses.

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“Unfortunately, the true impact of Brexit on British, European and global manufacturing companies looks set to be clouded by continuing uncertainty until the EU and the UK’s new government thrash out an acceptable plan of action for both sides – and that could take at least two years”, finds Paul Tate, research director and executive editor with Frost & Sullivan’s Manufacturing Leadership Council.

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Frost & Sullivan believes that all manufacturing companies globally should take into account the following 10 key factors when assessing the current situation to make sure their focus is on future growth opportunities.

1. The Current State of UK Manufacturing; 2. The Downside; 3. The Upside; 4. European Trade; 5. Foreign Investment in Manufacturing; 6. Global Manufacturers in the UK; 7. Raw Materials; 8. Manufacturing Skills; 9. Product Innovation; 10. The Future of a Single Digital Market.

“There are concerns that the Leave vote would have a negative impact on manufacturing business in the UK. At the same time, we could argue that the falling pound will make British exports cheaper on world markets”, notes Karthik Sundaram, programme manager of the Industrial Internet of Things, Frost & Sullivan. “In addition, leaving the EU might help UK manufacturers compete better on a global stage, as they will no longer be hindered by highly regulated EU industrial policies.”

Company: Frost & Sullivan Web Address: www.frost.com

MANUFACTURING / 60-Second Interview: Thrilling the Customers - Igniting Their Interest

Thrilling the Customers – Igniting Their Interest Company: Channel Products, Inc. Name: Teresa C. Hack Email: thack@ channelproducts.com Web: www.channelproducts.com and www.wildlyobsessed.com Address: 7100 Wilson Mills Rd., Chesterland, Oh 44026 Phone: 440 423 0113

60-Second Interview

Channel Products is a leading designer and manufacturer of ignition systems, safety controls, and complimentary products for manufacturers worldwide. In an illuminating interview with Teresa C. Hack, she sheds light on the firm’s philosophy, the challenges for the business and her ambitious for the company’s exciting future.

hat kind of clients do you serve and how do you approach them?

Selling to manufacturers of outdoor grills, fire pits, heaters, and lighting, to indoor commercial appliances, to tier-one military suppliers and much in between, we cover a lot of diverse segments with our products. We are fortunate that while we have an exceptional commercial effort, many customers reach out for us. Channel is one of the few companies I have seen where qualified opportunity is in a constant state of abundance. This is a great way to exist, so long as customers are still being thrilled without neglect.

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What makes your firm unique?

Our philosophy on the way we culturally exist within the walls of Channel. We are unapologetic regarding our focus on human capital and being Wildly Obsessed with Thrilling Our Customers™, which is not typical in the industries we serve.

What challenges lie ahead for your company?

The greatest challenge is always the balance in leading people while managing process, especially during aggressive growth spurts. When this is done

well, the business evolves naturally and challenges become stepping stones to greatness. We have a very robust approach to our internal culture that I am asked frequently about.

We believe that human capital is the foundation of everything. I have never seen a plan unfold or a dollar change hands without someone’s personal touch. Mentoring and moulding this touch while ensuring work is getting enthusiastically accomplished is the challenge for 2016 and beyond.

What is the number one objective for your business in the future?

To double the business in five years while increasing our positive impact on the lives of our customers and the end users.

What business person do you most admire and why?

Just one?! I admire Warren Buffet for his strong, honest, and committed approach to people and organizations. I also admire Ron Weinberg, a principle with our parent company, Weinberg Capital Group, for seeing talent and opportunity through a unique lens that causes great things to happen unexpectedly.

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Glass Rite – Providing Only the Best Glass Rite is a proudly South African company based in Pretoria in the Gauteng province and has been in business for the last 19 years. Glass Rite specialises in the manufacture, supply and installation of glass and aluminium products for domestic, small business, large corporations and industrial projects. Dedicated to innovation, Glass Rite hopes to become the industry standard when it comes to glass and aluminium installations and providing our clients with breath-taking facades and structures.

Company: Glass Rite Name: Mr. Lodewikus J.P. Roets Email: wr@glassrite.co.za Web: www.glassrite.co.za Address: 50 Jurg St. Centurion, Gauteng, South Africa Phone: +27 (0)12 653 0801

2016 Most Innovative Company - South Africa

t Glass Rite, our vision for the future is to keep excelling in our numerous specialities, to have more opportunities to impress new and existing clients to make their visions a reality. It is a high priority of Glass Rite to train our staff members in new and innovative skills programs and specialities, to be up to date with the latest trends in design by architects and other role players in the industry.

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The best way to view your world At Glass Rite we are passionate about providing the best advice and solutions for our clients, with dynamic innovations to best suit their needs. We have a wide range of performance glass products including: • Low-E energy saving glass restricting light and solar gain; • Single and double curtain wall glazed glass products for long uninterrupted areas creating consistent attractive facades.; • Safety glass, toughened glass and windscreens; • Aluminium frames and windows and; • Cladding.

With our extensive range of manual and automated glass doors and windows, Glass Rite has become one of South Africa’s largest shopping mall and office park contractors. Current projects include; Menlyn Park Mall, The Mall of the South, Maponya Mall and the Newcastle Civic Centre to name a few.

“Glass Rite is sincerely happy to have been awarded the 2016 Most Innovative Company - South Africa and we are pleased that all the hard work and dedication has paid off, but we will never stop trying to be innovative and improve the business.”

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Glass is also making its way further into interior design, like railings and stairs. In fact, this increase is mainly due to the growing trend of glass usage as a structural element by designers and architects.

The business side of the equation also supports this trend.

Leading the way Glass Rite is a firm believer of the upliftment and empowerment of its employees, making each employee a valuable asset and integral part of the success of the business. Employees’ skillsets are constantly being updated and improved through educational programmes for example; Microsoft software, strategic leadership and teamwork to promote business growth and efficiency keeping Glass Rite ahead of the curve.

Leading by example, our owner Mr. Roets is currently completing his doctorate in Strategy and Leadership, and is therefore passing on his knowledge and experience to colleagues. At Glass Rite we aim to create a pleasant and productive work environment which is clearly visible, both in the office and on site. If we have confidence in our skills and knowledge of the job, the customer will see that and our confidence will rub off on our clients knowing that we can do the job professionally and in a timely manner.

Onwards and upwards Glass Rite is sincerely happy to have been awarded the 2016 Most Innovative Company - South Africa and we are pleased that all the hard work and dedication has paid off, but we will never stop trying to be innovative and improve the business. Glass Rite has a number of highly experienced fitment and installation teams working across the country and abroad along with a factory fully equipped with the latest and most technologically advanced machinery to be able to turn over high volume workloads of both glass and aluminium.

The implementation of our new Emmegisoft production software gives us an integrated solution for all the company’s operational areas: sales, design, purchasing, production and administration allowing us to plan and manage production

MANUFACTURING / 2016 Most Innovative Company - South Africa: Glass Rite – Providing Only the Best

activities. Automating the incoming and outgoing flows, accurately and instantaneously keeping track of the state of progress of each job. Along with state of the art CNC and laser cutting machinery, we produce work of the highest quality, giving us the ability to execute any custom requirements.

Expanding horizons Since its opening Glass Rite has expanded so that three other sister companies have been opened to take responsibility for different aspects of the business.

GlasRite cc. is run by Mr. Lodewikus J.P. Roets, who is responsible for the manufacture of glass and aluminium and the largest part of the corporate industry with major installations in numerous malls, shopping malls and businesses centres.

Glass Rite Motorglass is headed up by managing member Mrs. S.C. Roets, who is responsible for all domestic and residential glass servicing walk in clients in areas such as motor-glass, aluminium fitments, applications and installations.

GRECC (Glass Rite Empowerment cc) is headed by managing member Mr. Cedric Pillay, who is responsible for all business project tenders and procurements.

Visual Direct is headed up by Mr. Lodewikus J.P. Roets, who is responsible for the signage, branding and marketing of all four companies as well as all decorative signage and applications for both corporate and residential clients.

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SUPPORT SERVICES & TECH / A Post-Brexit View of the UK High-Tech Sector

A Post-Brexit View of the UK High-Tech Sector The tech sector accounts for around 10% of UK GDP, and is one of the fastest growing components of the economy. With a thriving start-up community, including a strong focus on Fintech, London is widely renowned as the digital capital of Europe. efore the EU referendum on June 23rd, a number of surveys of technology business leaders pointed to a strong preference to remain part of the EU – with access to skilled personnel, ability to strike better deals on trading relationships across the EU, and funding benefits coming to the fore. Proponents of Brexit pointed to the potential ability to be flexible and competitive in the global economy, and the possibility of removing some of regulatory burden imposed by Brussels.

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After the vote, which will go down as one of the most important developments in UK history, the tech sector will seek to make sense of the new opportunities and challenges that lay before it. As with the broader economic context, there will be a period of uncertainty and adjustment, but business will move forward and embrace the new status quo. While there will be consequences across a multitude of areas; in addition to general question marks over trading relationships and logistics, 4 key points are the main areas of focus in a post-Brexit world: Skills shortage – the UK tech sector and all of the innovation that surrounds it needs highly skilled people to flourish. Today, it is able to tap into the EU – but even then, we still have a shortage in certain areas. By putting a brake on immigration, companies may struggle to find the people they need to drive their businesses forward. In addition, EU citizens working in the high-tech sector may feel their careers are best served elsewhere – there is a real possibility that many will seek opportunities elsewhere in Europe.

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The role of the UK as a Digital hub – for many firms seeking to harness opportunities, the UK has long been seen as a gateway; especially for US firms, due to the cultural affinity between the two countries.

Start-ups have also been attracted by the cultural of innovation fostered in London in particular. With such uncertainty, will major IT providers want to retain their European headquarters in the UK, or will the lure of operating within the EU work to the benefit of Paris, Frankfurt and others? In addition, not being a part of the Digital Single Market could result in further isolation and deprive the UK of the benefits of cross border online trade / e-commerce.

Cutting the red tape, or just introducing more?

Data protection and regulation has been an area of hot debate for many years. While the UK may well adopt a variant of the EU General Data Protection Regulation, Brexit may make it harder for companies to navigate legislation and ensure they abide with the varying rules in different countries.

Knowing where data is stored will also become more important than ever, to ensure that data is secure and privacy is maintained. Additionally, the EU has been driving policy on how US firms collect and manage user data it collects from Europe and negotiated the ‘EU-US Privacy shield’ agreement. With Brexit, the UK will not be a part of this agreement post 2018 and will need to negotiate new terms directly.

Access to funding and credit – although the Bank of England has been quick to state it has plans in place to support the UK economy and the financial services sector, concerns will be raised with regards to the ability to obtain credit and funding – especially among start-ups. The European Investment Fund (EIF) is the largest investor in UK venture capital firms – whether this funding stream remains in place, and for how long, is a major question mark.

There are many more issues that will come to the fore over the coming months as the dust starts to settle. For example, pan-European contracts will need to be renegotiated, and IP/trademarks may require separate treatment for the UK and the EU. Individuals and companies will be assessing their options – and many will not wait until formal exit negotiations are concluded to put their plans in place. Nevertheless, the UK has long demonstrated it has an innovative and resilient tech sector and we expect it to weather the initial turbulence and uncertainty resulting from the Brexit vote.

Company: Frost & Sullivan Name: Ajay Sule, practice director EIA, and Adrian Drozd, research director, digital transformation Web Address: http://www.frost.com

SUPPORT SERVICES & TECH / Cognitive Intelligence Will Accelerate Innovation for Years to Come

Cognitive Intelligence Will Accelerate Innovation for Years to Come At Frost & Sullivan’s GIL 2016: Europe event in July, experts agreed that only by looking at IoT, AI and Blockchain as a whole, will businesses prosper and grow.

The world is about to cross the inflection point in the progress of artificial intelligence (AI). Breakthroughs in deep learning have dramatically improved computer vision, natural language processing (NLP) and robotic motion systems, and AI (artificial intelligence) will become a core part of the economy and society sooner than we can imagine.

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Frost & Sullivan’s flagship Growth, Innovation and Leadership event – GIL 2016: Europe – held in London on 30th June and titled ‘The Cognitive Era - Transforming the Future Global Economy’, concluded that IoT (the internet of things), AI and Blockchain are all transformative in their own right.

Frost & Sullivan thought leaders and some key industry experts concurred that by looking at these trends separately, we would miss the wider industry implications. The internet of things cannot reach its potential without artificial intelligence, and artificial intelligence can only become a reality by accessing the data generated from the internet of things.

Frost & Sullivan’s senior partner and managing director Sarwant Singh commented: “Since industrialisation, we have seen the driving forces shift from steam power to electricity to the

communications realm which segued into the world of internet. The Internet is currently the utility that is powering businesses globally. As we shift to the internet of things, data is emerging as the new oil, creating more context than ever before on how our surroundings behave. This, I believe, is setting the stage for the utility of the 21st century: cognitive intelligence which will accelerate innovation for years to come.”

Frost & Sullivan’s event presented experts’ views on how cognitive intelligence could manifest itself in future products, solutions and markets; in fact, most distinguished speakers suggested that it would be a key differentiator.

Cognitive computing will make our work environment more flexible and productive.

Machines should be intuitive enough to improve productivity at work by reducing time spent on mechanical tasks and shifting the focus to core jobs. This will improve total time and energy spent on business and, consequently, the success of customers. Collaboration is making teams more efficient and impactful; intuitive apps are driving this change, said Nina Bjornstad, Country Manager of Google for Work (UK & Ireland) In the financial world, cognitive computing is driving a major transformation. We are already seeing this with payments; payment could be so intuitive in the

future that it becomes invisible, said Huy Nguyen Trieu, Author, Disruptive Finance The Digital Transformation which started in the mid-1980s has enabled many improvements in the manufacturing and product development processes. In manufacturing factories, great improvements in Safety, Quality and Productivity have been achieved. This transformation has enabled products to be developed and launched faster, and factories to be changed over in record times of 24 days as opposed to three months previously (reference to Ford’s new factory for their flagship motor, the aluminium-bodied F-150), said John Fleming Former Executive Vice president, Global Manufacturing and Labour Affairs, Ford Motor Company.

“Technology platforms are proliferating, bringing creative developers together with enabling software and infrastructure from a multitude of suppliers.

Inspirational design must focus on the internet of people as well as things. Cognitive capabilities are the key - the ability of computers to interact in natural language, to understand the infinite complexity of the visual world, and to automate tasks in a fraction of the time that humans need.

Only then the ‘next industrial revolution’ will truly achieve its revolutionary potential,” concluded Senior Partner Sarwant Singh.

Web Address: www.frost.com

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1607JR63

Crazy Web Service Ltd Company: Crazy Web Service Ltd Name: Daniel Bentley Email: dan@ crazywebservice.co.uk Web: www.crazywebservice.co.uk Address: 50 Broad Street, Hanley, Staffordshire, Stoke on Trent, ST1 4EU Phone: 01782911330

The Effect of Web Design on Brand Image

A Personal Experience in a Stubbornly Impersonal Industry Crazy Web Service works with all types of business models, from small businesses, charities to communities across the globe. They are creating a one-stop shop for businesses to enable to have all their services in one place including web hosting, web design, cloud storage, telephone and broadband. Crazy Web Service never turn anyone away because they are always on hand to give advice or assistance. In an interview the firm’s Daniel Bentley, he reveals how this dynamic firm creates a personal experience in a stubbornly impersonal industry. an you enlighten us further about the wonderful work of Crazy Web Service?

Crazy Web Service are a team that operates transparently and ensures that we are accountable for the service we provide. So, as any business grows or their needs change, the firm are constantly trying to develop to better suit their requirements. For us, continually improving and striving for the best for our customers is a way of life. Together, the firm are always evolving.

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The firm are always picking up after other organisations in the sector, and we like to show them what the good side of our industry. Crazy Web Service are a partner for the Internet and Website Development Regulatory Office (IWDRO) and the National Federation of Self Employed & Small Businesses (FSB). We are always very supportive of small businesses.

Keeping on top of design and brand image is vital to success because technology and the design industry are always changing.

How do you ensure that your firm stands out from the competition?

At Crazy Web Service, we always like to get to know each company individually. We believe that the customers are not a number, but that they are part of a huge family. With 7 years’ experience in the sector, and with a young dedicated team on hand, we always like to take on the toughest of challenges. What makes us stand out from the competition is that we work on the failures of other companies, by just offering some customer services, and dealing with them personally each time. The firm are out to make the world of internet services a better place for everyone.

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To what extent do you think that a website is central to brand identity, a firm’s reputation and how customers perceive businesses around the world?

A website is now the most essential tool for every business around the world, because it is basically the key for the growth of everyone.

With the rise of tablets and mobile browsing, to what extent are companies now more than ever needing to update their websites, to prevent losing out on potential customers?

We always strongly suggest that any business that joins us has the most up to date website, because of the decline in retail high streets and hard copy telephone directories. It is therefore very important to always have your company available to all types of users, including mobile and tablet devices. 80% of searches are now done via a mobile or tablet device.

What role does Crazy Web Service play in helping to make companies more attractive to potential clients?

With every client Crazy Web Service meet, we like to go to the heart of the business and learn as much as the business as possible, even taking as much time visiting and getting involved in the business to give us the feel of the it to allow us to work in the best possible way with them.

As an expert in your field, what are your thoughts on web design and brand image, as well as the importance of design for creating and maintaining a strong brand?

Keeping on top of design and brand image is vital to success because technology and the design industry are always changing. Another important thing to keep on top is your search engine optimization (SEO).

SUPPORT SERVICES & TECH / The Effect of Web Design on Brand Image: A Personal Experience in a Stubbornly Impersonal Industry

What role do your staff play in the success of your firm?

Our staff are the key ingredient to our success, they are young team on hand. Crazy Web Service have a fun working environment and everyone is dedicated to their job. They love their job so much they still do not want to go home after 5:30.

What opportunities lie ahead for Crazy Web Service in the future?

Crazy Web Service are currently investing heavily in our telephone and broadband service, which we are offering to residential and businesses customers, as well as grouping all the firm’s products into a one-stop job package for start-ups and current small businesses.

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The Apprenticeship Marketplace Smart Assessor is an entrepreneurial education technology (Edtech) company designing software solutions that transforms the conventional delivery model for apprenticeships. Smart Assessor was formed after the founder could see the frustration from her own son, during his apprenticeship in fitness and personal training. Instead of being able to digitally record his skills by video or photos, he had to spend time trying to write explanations of how he would teach a fitness class.

Company: Smart Assessor Name: Fiona Hudson-Kelly Email: Fiona.Hudson-Kelly@ smartassessor.co.uk Web: www.smartassessor.com Address: The Barn, Fosse Cottage Farm, Street Ashton, Warwickshire, CV23 0PL Phone: 0845 460 4440

In an interview the firm’s founder Fiona Hudson-Kelly, reveals the remarkable story of how over the past five years she has turned Smart Assessor from a business in her own home, to a thriving and successful multi-million-pound venture.

ssuming the reader knows nothing about you, what main selling points would you convey as to what your business does and what you can offer?

Many young people choose an apprenticeship because they excel at practical subjects such as hairdressing, plumbing, building, personal training, motor vehicle, engineering, beauty therapy, childcare, butchery, catering and software development. Many of their skills are demonstrated by ‘doing’ their craft whilst learning underpinning knowledge and the old model of writing about their skills is antiquated and can be replaced by more dynamic evidence such as video and photos.

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Top 50 in Technology

“The apprenticeship marketplace is rapidly changing and Smart Assessor perceive these changes as both a challenge and opportunity.”

Smart Assessor’s flagship software technology is an electronic portfolio used by more than 100,000 apprentices, 9,000 assessors and 200 colleges and training providers. Their business strategy has been to create a premium product appealing to the largest apprenticeship training providers in the UK. Their points of difference include their subscription price model, virtual classrooms, powerful management dashboards, web API importing data from other

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client, M.I. Systems, offline apps, integrated web forms and electronic signatures.

In just five years this company has taken 40% of the premium market share, successfully winning premium priced contracts against long established global competitors such as City & Guilds and Pearson.

To continue to exponentially grow the company, Smart Assessor has embarked on an ambitious new product development strategy, to achieve its aspirations of a wholly integrated technology eco system for apprentices both in the UK and globally.

Can you go into more detail about your product and who it is aimed at?

The Smart Assessor e-portfolio is designed for training providers and colleges, who have been awarded a contract by the government, to recruit and train apprentices for local employers. They require a technology that is easy to use for their own assessors, management team, quality assurers, apprentices and employers. Awarding organisations who accredit the qualifications also need to be able to use the technology to review the apprentices’ work and check the quality of assessments.

Whilst the training provider will be the direct customer of Smart Assessor, all of these other stakeholders who use the technology must have their needs met too.

Assessors want a solution that makes their life easier so that they do not have to carry around paper portfolios, arrive for an appointment with their apprentice and find that they were not expected or the apprentice has not completed outstanding work. The management team need a technology that dynamically shows them how

SUPPORT SERVICES & TECH / Top 50 in Technology: The Apprenticeship Marketplace

well they are performing with their apprenticeship contracts, which apprentices are falling behind and will not complete on time if they do not intervene quickly. Quality assurers want a technology that gives them access to all the work completed by apprentices, to sample for quality and ensure that the assessors are marking fairly and consistently to the qualification standards.

Apprentices want a technology they can use anywhere on any device, including their smart phones, even if they do not have access to the internet. They want to be able to record evidence of their work as it happens when their assessor is not there so that they can use it as ‘evidence’ in their digital portfolio.

As apprentices’ training is funded in the most part by the government the quality of the teaching, learning and assessing is audited carefully by Ofsted inspectors and the awarding organisations.

They will use Smart Assessor to check compliance and quality assure the learning journey.

Can you reveal how your vital products and services allow the customers to continue succeeding?

Smart Assessor’s customers rely on the e-portfolio technology for their workflow. Without Smart Assessor they would lose access to their learner’s work and the tracking data that Smart Assessor provides them with to successfully manage their apprenticeship contracts and comply with audits and inspections. Furthermore, they would not have access to vital information that enables them to make early interventions to improve the outcome of successful completions.

With Smart Assessor, training providers can reduce the cost of training apprentices whilst providing a more engaging learner experience. Our subscription model depends on our clients growing their number of apprenticeship completions, so their success is our success.

To what extent do you think that our society is dominated by technology?

I think our society still has a long way to go in accepting new working practices using technology.

Too many solutions are not integrated into a smooth eco system, indeed many systems are clunky to use and not designed for mobile ‘on the go’ access.

We are getting there but it’s painfully slow - with some airlines you can use your mobile phone as your boarding pass - but for international flights you still need to queue for a bag drop and to print your paperwork.

Whilst we have a young workforce comfortable with technology, millennials, there are many in the teaching profession, and wider industry, who are not comfortable embracing technologies that lead to new working practices and it is these users that technology companies need to design products for to make them more intuitive to use.

To what extent do innovative advancements in technology and automation make businesses across the world seek to streamline their operations to reduce financial outlay and increase revenue?

I think that we have seen the greatest impact of new technologies within vertical supply chain integration, enabling companies to bring new products to market faster, with personalised consumer preferences.

We can see examples of this in fast fashion, where a garment can move from design to production within three weeks, furthermore garments can be produced in low batch quantity and ‘best sellers’ can be replenished rapidly ‘just in time’ in response to consumer behaviour.

Personal sales and marketing has become accepted, using google algorithms, and retailers are using pop up adverts for items they know you have been browsing for. Retail stores know more about our shopping habits than we do ourselves, through the successful implementation of loyalty cards, with this data passed onto other organisations who will target us with products and services bespoke to our idiosyncratic shopping habits.

Smart Assessor have seen the impact of technology being used in the classroom, but we are yet to see a real shift in the model of teaching and learning, and the long anticipated ‘flipped classroom’ and MOOC’S’ are far away from becoming the norm.

The future trend for education technology (Edtech) is personalised learning, using algorithms to understand how we learn about different topics, and present learning resources to suit our individual learning styles and pace; following a similar model to retail.

How do you ensure that your firm stands out from the competition?

Whilst Smart Assessor monitor our competition, we invest far more time with our customers listening to what keeps them awake at night and working with them to create innovative technology solutions. If you listen carefully enough, and scan the sector horizon from an external view, you will find the answers right in front of you.

Britain’s poor productivity record has been highlighted by figures showing in February 2016 the biggest gap with other leading western economies since modern records began in the early 1990s.

The products of Smart Assessor are fresh and innovative, designed to solve real problems our customers are experiencing, enabling us to win high value orders against the competitors whilst premium pricing.

Output per hour worked in the UK was 18 percentage points below the average for the remaining six members of the G7 group of industrial nations in 2014, according to the Office for National Statistics. I think as a society we need to embrace new technologies, coupled with modern working practices, and this transition needs to happen much faster than it is currently.

Having a great product helps when your market already knows about you because it means that you will be invited to tender for contracts. As a newbie, Smart Assessor have had to work hard at marketing the Smart Assessor brand and points of difference to the Further Education (FE) sector, it took us two years of really hard work to position Smart Assessor as a premium well known product.

Most of Smart Assessor’s success has come from speaking at events about issues affecting our customers, writing blogs and articles and publishing our own book which launces in September called Survival of the Smartest. I am a high profile award winning female entrepreneur and founder of the company, and I am also recognised as the thought leader on entrepreneurial strategies for FE senior leaders.

What challenges and opportunities lie ahead for your firm in 2016 and beyond?

The apprenticeship marketplace is rapidly changing and Smart Assessor perceive these changes as both a challenge and opportunity. Everything about apprenticeship delivery is changing; the government have increased the target for the number of apprentices from two million over the last five years to three million by the end of the lifetime of this parliament. They have also abandoned the traditional qualifications that everyone in the sector is familiar with and replaced them with an entire new compilation of employer devised standards.

Furthermore, the whole market place is opening up with employers being in the driving seat of choosing suppliers and controlling the funding.

Whilst the extent of these changes happening all at once have created turbulence in the sector, including challenges for Ed Tech suppliers like Smart Assessor who have had to adapt their solutions, there are also fabulous opportunities ahead for the brave and innovative providers and their technology partners.

With any change there will always be winners and losers, Smart Assessor are determined to lead the way in providing solutions for our clients to the trailblazer reforms and creating opportunities for them to win more contracts with their employer clients.

Is there anything else you would like to add?

I am really passionate about rewarding on results and not time spent in the workplace. As previously mentioned, in the UK we are the one of the least productive countries in the G7 and we need to reward and recognise achievements instead of hours spent at work to encourage modern working practices.

Smart Assessor started in a room in my house because I could not afford to rent offices, when the council realised what we were doing they stopped us so we moved into a barn in the garden and they tried to stop us again, but Smart Assessor won on appeal. There needs to be more done to encourage start up’s and help them achieve high growth.

We need to encourage more women to start high growth companies and should be doing more to support them not block them and this includes flexible working practices that are results driven not time driven.

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SUPPORT SERVICES & TECH / Best of the Best in Infrastructure: Getting IT Right 1608AN83

Getting IT Right 3GC Group is a Value Added Reseller, systems integrator and managed services provider of converged networks IT infrastructure for mid enterprises. We provide design, project management, implementation and on-going managed services. We specialise in WAN/ LAN optimisation, WiFi, Firewall, Unified Communication and Converged Electronic Physical Security infrastructure.

GC strives to provide the latest converged technology solutions that align with our client’s goal and objectives to enhance their capabilities. We start with understanding our client’s business needs, including systems based and operational workflows, and then design the IT infrastructure to ensure it will optimise those workflows. We design closely with the CIO and systems management teams of mid enterprise making sure all the business applications flow efficiently across all users of the network. With streaming applications converging on IP networks like voice and video, we specialise in making sure these applications flow harmoniously with the rest of the traditional IT applications as well as evolving cloud based applications.

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Company: 3GC Group, Inc. Name: Henry Park Email: info@3gcgroup.com Web: www.3gcgroup.com Address: 1200 Wilshire Blvd Suite 206 Los Angeles, CA 90017 Phone: 877-3GCGROUP

Best of the Best in Infrastructure

Standing out from the competition Most VAR’s are either simply hardware resellers or are engineering VARs laser focused around specific technologies without the requisite network understanding to ensure fully implement a solution on a complex network. 3GC Group has taken a new approach. Each of our engineers is certified and experienced in at least three areas of expertise, one of which is always related to networking infrastructure which we call E-Cubed Every solution 3GC provides, from UC to physical security, includes expertise in network infrastructure, dramatically improving implementation quality. 3GC’s clients see a 50% reduction in project management time, troubleshooting time and ongoing management.

Bunim Murray Productions • Challenge: With limited IT staff and growing 500+ employee operations, BMP needed to find a way to support the growing IT infrastructure needs. BMP needed a company that is an expert in all IT infrastructure from network LAN/ WAN, UC, and Network Security.

• Solution: 3GC helped redesign BMP’s LAN/ WAN, firewall and UC infrastructure then put together a comprehensive managed services model to provide SLA based management of the entire IT infrastructure augmenting BMP’s onsite helpdesk staff.

Crothall Healthcare • Challenge: With the construction of a brand new 80,000 square foot industry leading laundry facility, Crothall faced a variety of challenges in simultaneously working with construction companies as well a full suite of phone, data, and telecom services. The challenge was in implementing data, voice, telecom, and electronic physical security concurrently alongside construction of the

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concrete warehouse, laundry machinery, ceiling rails, plumbing, power, lighting, generators, and parking facilities.

Solution: 3GC has incorporated multiple technologies in order to bring together a seamless unified solution for Crothall. It involved implementing the core network, Converged Physical Electronic Security (CEPS) and Unified Communications. We worked in collaboration with the general contractor to ensure all work was completed in a timely manner. It was an elaborate end to end converged networking project using multiple technology solutions to run seamlessly together.

Infrastructure challenges and opportunities 3GC discovered early on, in the process of growing with our mid-enterprise clients, the importance of providing support across a broad geographic area.

Headquartered in Los Angeles, 3GC has broad coverage along both coasts, the mid-west, and internationally in Korea and Japan. 3GC has also cultivated ties with like-minded VARs in the EMEA regions, to provide unified services spanning the 5 continents.

The company’s future The core values of 3GC is centered around the E-Cubed philosophy, and providing both consultative and quality support to the clients. Not everyone buys into this philosophy, and finding the right engineers, the right sales people, the right marketing staff, who understand and are passionate about this philosophy has always been, and will continue to be one of the challenges 3GC faces.

Client testimonials “3GC Group was one of the few providers to deliver the complete converged networking solution we were hoping for. From beginning to end, their professionalism and efficiency of 3GC Group made this project effortless. We are very pleased with the high quality of services they provided.”

- Ian Bigelow, Vice President of Engineering and Technical Services at Crothall Healthcare “We received exceptional service from 3GC Group who went above and beyond the levels I have received from other vendors in the past. You made my user’s experience positive and significantly helped our first VOIP implementation to be smooth and successful. In addition, we are on track to providing a 3-year ROI. We appreciate your hard work and look forward to doing business with you again.”

- Max Reissmueller Sr. Manager, IT Infrastructure and Operations at Pioneer USA

SUPPORT SERVICES & TECH / 2016 Business Leaders: On the Cutting Edge 1607AC01

On the Cutting Edge Company: MOURI Tech Web: www.mouritech.com

2016 Business Leaders

Our company, MOURI Tech, is a global enterprise solutions provider committed to designing and delivering IT solutions that enable international companies to thrive in today’s complex business environment.

OURI Tech’s technical expertise, management philosophy and innovative thinking of its empowered employees has made it possible for the firm to partner with world class organisations to provide the best in class solutions. As such, MOURI Tech has worked across verticals in both the public and private sectors to solve complex business problems, providing holistic services thus leveraging the global presence of the firm.

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MOURI Tech LLC is led by Anil Yerramreddy, a project management and business development veteran of the engineering, state and federal government industries. With his passion to provide an unparalleled service to his clients, he has raised MOURI Tech LLC with love and care stemming from one person’s idea to the level of a multi-level organisation.

Prior to MOURI Tech LLC, Anil worked as a Global SAP development manager with GEMS Inc, and as a senior SAP techno-functional consultant, with various clients including US DOD, US DOI, Southwest Airlines, City of Portland, Leanin Tree, Nike, Chevron-Texaco, Raytheon E-Systems, Ericsson, Price Waterhouse Coopers, EDS and The State of Texas. Furthermore, he earned his bachelor degree from SV University, India and a M.S in Engineering from Texas A&M University, College Station, Texas, USA. Ultimately, MOURI Tech strive towards success and ensure the most highly skilled staff focused are placed on the right job. In conclusion, the company’s values and ambition is to be the best in what they do.

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With over 30 years experience in the discipline of Digital, HEXFORENSICS are listed/certified specialist providers of Cyber/Digital Forensic and Expert Witness services to the legal profession, who to date have represented clients, and Barristers in high profile international court cases.

As an extension to the provision of Expert Witness services, HEXFORENSICS provide Digital Investigation, specialist Cyber Threat, and Open Source Intelligence investigation services, as well as delivering Cyber Security and Digital Forensics Training in the UK, and the UAE [Dubai and Abu Dhabi].

For more information contact: +44 7881 625140 / +44 207 8626335 E-mail: john.walker@hexforensics.com 71-75 Shelton Street, Covent Garden, London. WC2H 9JQ

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SUPPORT SERVICES & TECH / Excellence in Hospitality: Food for Thought 1608DG54

Food for Thought Company: UHS Group Email: info@uhs-group.com Web: www.uhs-group.com Address: 177 Brook Drive, Milton Park, Abingdon, OX14 4SD

Excellence in Hospitality

Founded in 1972, UHS Group are a furniture supplier to the hospitality industry, supplying a wide range of indoor and outdoor furniture solutions to restaurants, hotels and the leisure industry. With UHS Group specialising in hospitality furniture, whatever we design or source is purely for that industry. Working with restaurant chains often means they have high level requirements in the testing stage so all of our products have to be manufactured to a particular level.

HS Group have to develop a range of products which are suitable for their brand and the hospitality market. It can be very difficult to get a look and strength of durability all in one piece because they can conflict. We are very much looking for designled products which are in trend at this present time, so this obviously means we are constantly having to keep an eye on the trends in the market.

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In regards to the restaurant chains UHS Group work with, we offer a wide service, in the sense we will create a bespoke product if they have a roll out programme and develop a whole range of products for them. For instance, with KFC, we have developed a range of products in their first roll out programme which they have since changed, and it is ongoing as we have developed other products to accompany that.

In regards to the hospitality sector it continues to grow, with more and more people changing their work patterns and preferring to eat out. We are seeing a change in the way people are living and

for us that provides with a big opportunity. With the competition in the market ever increasing, we have to be innovative in our approach, which means I find myself travelling around a lot to identify new products and ideas. A major part of this involves visiting exhibitions, suppliers and manufacturers worldwide to keep in touch with developments.

To ensure we are both meeting and exceeding expectations we are looking at technology and what we can introduce. At the present time, we are building a brand new website which we want to be the cutting edge of the industry. In addition, there are a few tools which we will be adding, which could be a great resource for designers to use our products easily.

In terms of our client base, we split ourselves into three sectors with the A&D marketplace, which consists of architects and designers who deal with the higher end of the market. We have recently completed projects for celebrity chefs such as Heston Blumenthal. In addition, we deal with the fast food restaurant chain business, which includes KFC. Thirdly, UHS Group also work with the reactive and trade industry, where there is a stock line of products which we supply from stock, for those fast track projects.

Our staff here at UHS Group play a vital contribution to the success of the firm, indeed without them we would not be able to complete our work. With our process being quite complex, with customised products, we have to look at different fabrics and finishes and that means our team here are often involved right from the design stage through to the logistics and sales processes.

Looking ahead to the future, in addition to the local market, we are keen to explore opportunities globally. As well as supplying to America, we are now also delivering into the Middle East and Dubai, and with an office in Italy we can deliver our products across Europe.

Looking to the future, UHS Group are purely focused on the challenges and opportunities we can prosper from, in a buoyant marketplace. Working with clients to develop their business is ultimately what we will be focusing on. Finally, we hope to use this Excellence in Hospitality as a platform for greater success in the future.

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Company: Permit Pro Name: Raymond Das Email: raymond@ permitpro.com.my Web: www.permitpro.com.my Phone: +603 2300 2514

Relocation - The Challenges of Moving Forward

Easing the Strains of Relocation Permit Pro provides specialised immigration services for expatriates and their family who plan to work and live in Malaysia. We offer professional immigration service to clients in different industries, by providing immigration advisory services and administrative support for all aspects of submission procedures, at various approving agencies in Malaysia.

alaysian employment passes are divided into categories of the unskilled and skilled labour force, as well as the foreign maid and expatriate. Permit Pro only renders support for the expatriate group which we have specialised in over the years. The firm provides personalized service to each client in managing their immigration needs, which involves end-to-end support starting from advisory service, handling the online processing of applications and managing all submission procedures at the relevant government offices.

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We have a group of trained and experienced consultants, who manage their respective client portfolio and they are complemented by our capable in-house operations support staff, who handle the ground work at the offices of various government agencies.

Our objective is to provide the best possible service without compromising on the quality and integrity of each application.

Proficient personnel Permit Pro is led by a team of very proficient personnel who have many years of experience applying for passes for various types of industries.

We are familiar with all types of business set-ups in Malaysia and the unique requirements each one encounters when applying for employment passes.

Our objective is to provide the best possible service without compromising on the quality and integrity of each application. The team is alert to the everdeveloping policies at the Malaysian Immigration Department and are fully aware that the successes of our services require clear knowledge and understanding of the department’s requirements and also our client’s needs.

Client base overview Over 70% of our client base consists of large multinational corporations (MNCs) across a wide range of industries. They include construction, engineering, telecommunications, hospitality,

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services, oil and gas, finance, aerospace, automobile, education, information technology and manufacturing.

While many leaders are confronted by logistical, legal and human resource issues that hinder their relocation plans, how is your firm able to offer sound solutions as businesses seek to navigate the strains of relocating?

Over the years, Permit Pro have developed a keen understanding of procedures at the Immigration Department. At Permit Pro, we are acutely aware of the challenges facing businesses with increasing need for globally mobile personnel. The firm is committed to ensuring efficient and hassle free applications by working closely with both the clients and the authorities.

Through our strategic alliance with some of our international network partners, Permit Pro have had the valuable exposure and experience of working with global standards and expectations. We have factored in the experience garnered over the years into the way we approach our work, which helps us cater to the specific requirements of clients from various backgrounds. Permit Pro constantly seeks to learn and adopt the ever-changing trends of international businesses, so that we provide services which constantly remain relevant to the needs of the client at all times.

Support to relocating businesses - making the process as smooth as possible Permit Pro is sensitive to the fact that relocating employees with families to a foreign destination is not an easy task. Hence, we ensure that ample planning is made to ensure a seamless process, so that all formalities are attended to diligently and in a timely manner. Information shared by the client from the start of the relocation process are studied beforehand, so we channel the same into the action plan to ensure seamless submission procedures are maintained.

The firm provide the client with regular updates throughout the steps of an application, while taking a central role in ensuring all coordination efforts are well managed. A single point contact will be created for client’s ease of reference, and supported by second liners comprising senior staff, for technical

SUPPORT SERVICES & TECH / Relocation - The Challenges of Moving Forward: Easing the Strains of Relocation

support (there are senior consultants or managers who will be brought in for cases where escalation or troubleshooting are required). Essentially, we will hold the client’s hands through the entire process, so that they are guided every step of way until the cases are successful completed.

Economic and business challenges and changes are a constant in the present climate of global development and mobility. Our goal is to keep abreast and ahead of these challenges. While we seek to keep to our business goals realistic, we are fully aware of the ever growing and demanding business opportunities in the Malaysian market.

Permit Pro constantly look to improving our work by careful training of our staff and applying technology wherever necessary to increase efficiency.

Permit Pro will continue to explore opportunities by servicing businesses locally and abroad and widening our business affiliations with international immigration firms.

We strive to do our bit to make working in Malaysia hassle-free.

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SUPPORT SERVICES & TECH / 60-Second Interviews: Food for Thought

60-Second Interview

Food for Thought

Kitchen Thyme UK is a culinary experience company that takes influence from Cajun and Caribbean cuisines and cultures. In an interview with the firm’s seasoned professional Sabrina Zeif, she dishes up her thoughts on her mission for people to embrace healthy eating and cooking, whilst also learning about the diversity of global cuisine in the process. n a nutshell, what does Kitchen Thyme UK do?

Kitchen Thyme UK provide team building events using cooking as a social and creative way to bring teams together.

These experiences building trust, communication skills and team work in a fun environment. We also run monthly dining experiences called Supper Clubs.

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What type of clients do you work with?

Companies wanting to do a different type of team building event. For our Supper Clubs, it tends to those very interested in food and trying new dishes.

What makes your firm stand out?

I have first-hand exposure to a variety of international cuisines. My business draws on my life experiences, business skills and bringing together the unique flavours of the countries I have experienced.

Can you name one challenge facing you right now?

Convincing companies that cooking is an amazing way to enhance team performance and have fun all at the same time.

What would you say is overriding aim of Kitchen Thyme UK? To create an international company which inspires people to embrace healthy eating, cooking and learning all about the diversity of global cuisine in the process.

Looking ahead, what is the main challenge for your business?

Growing my business to the next level as we’ve just celebrated our first year.

Name: Sabrina Zeif Company: Kitchen Thyme UK Email: hello@kitchen-thyme.com Web: www.kitchen-thyme.com

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What business individual do you most admire and why?

Richard Branson. He has a simple model; just do it better. He also treats his employees very well, which I think is hugely important.

IW160024

www.weight-away.org

ECONOMIC AFFAIRS / The Isle of Man: Successes and Challenges

The Isle of Man: Successes and Challenges he Isle of Man has one of the fastest growing economies in Europe, able to boast decades of continuous growth.

The Isle is renowned for its quality and efficient service, supported by outstanding professional services and capabilities. With a business-friendly proactive government and a strong regulatory approach, there are opportunities out there from which businesses can benefit from.

For the government, their approach is quite straightforward, as they look to provide an accommodating environment for businesses with the minimum necessary controls.

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Paying zero tax on trading and investment income is one of the major reasons why people choose the Isle of Man as their business base. However, tax laws are tightening with agencies now all too aware of offshore strategies, and with this there has been a clamp down on tax avoidance.

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A change of career can be a daunting prospect for anybody, however with schemes and initiatives offered to people thinking of launching their own business, the prospect is indeed an exciting one. Despite the opportunities, it is important to remember that offshore accounts are not cheap to setup, and therefore depending on an individual’s investment goals an offshore corporation may need to be set up.

The outcome of the Brexit vote, brings with it a shadow of uncertainty for the region. The withdrawal of the UK from the EU will also affect the Crown dependencies links with Europe. While it may have no immediate effect, finding fresh methods to maintain these connections will be a challenge for the finances of the Isle of Man in the future.

“Paying zero tax on trading and investment income is one of the major reasons why people choose the Isle of Man as their business base”

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ECONOMIC AFFAIRS / The Best in the Business

The Best in the Business fds Director Services Limited is a business support company that works with business owners, managers, entrepreneurs and not-for-profit organisations. It aims to be a beacon of business excellence, providing key business’s decision makers with honest, creative and personal support throughout their journeys. In an interview with the firm’s CEO, Jo Haigh, she reveals her skills in delegation and the challenges she faces in her responsible position, as well as her objectives for the future of the business, whilst not shying away from the challenges on the horizon.

Company: fds Director Services Limited Name: Jo Haigh, CEO Email: Jo@wearefds.com Web: www.wearefds.com Address: fds House, 3-5 Tammy Hall Street, Wakefield, WF1 2SX Phone: 01924 376 784

What are the main challenges facing your company today?

Being able to delegate. Having run the business largely by myself for the past 25 years, it has been a challenge to start the process of delegating the day to day, operational running of the company and take a more strategic view. As a proven workaholic and hardworking Yorkshire lass, down time is something of an alien concept to me, if I am not busy I feel like I must be missing something.

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What are the main objectives for your business in the future? fds Director Services Limited wants to realign with its customers and really begin to share with the business community the expert help and guidance we know we have in-house. We are implementing a new marketing strategy that will reposition us as a trusted, valued resource for the business community, as we realise that customer value lies not in ‘what’ you can do, but ‘why’ you do it.

Our firm wants small businesses to succeed. We know small businesses are the backbone of the British economy and are now key to its survival outside of the EU, and we want to provide owner

“We know small businesses are the backbone of the British economy and are now key to its survival outside of the EU.”

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managed businesses and not-for-profit organisations with a trusted and valuable resource that can help them succeed and will support their business journey.

What is the greatest challenge facing your business in the future?

Leaving the EU will of course have an impact and create challenges, but there is always a market for people who want to do deals. This is just another issue, albeit a serious one, and one which we don’t have any clear insight into. The way to go about transactions is to be creative and open minded, something we at fds are very good at.

What business or business person do you most admire and why?

My late mother. She took over her father’s sheet metal engineering business at age 20 in the 1960’s after his sudden death, prior to that she had been a secretary. She took the business from a small, sixman company into a multimillion-pound empire in less than 10 years. All the more impressive was that she achieved all of this during a period in history when it was unheard of for a 20-year-old woman in Yorkshire to even contemplate something as audacious.

RICHARDTYLER

®

I N T E R N A T I O N A L Richard Tyler - Best-Selling Author, Top Sales and Management Expert and Entrepreneur Richard Tyler International, Inc.® is one of the world’s top Sales Training and Management Consulting firms.

Richard Tyler International, Inc.® has been profiled on national television, in articles, magazines and newspapers. Richard Tyler International, Inc.® has earned a worldwide reputation for delivering powerful sales education programs and management consulting services.

Richard Tyler International, Inc.® teaches success philosophies and techniques in such areas as Sales, Leadership, Management, Customer Service and Quality Improvement.

At the heart of Richard Tyler International, Inc.® is a group of proven professionals with extensive experience ranging from Fortune 100 companies to business start-ups. Our team can increase growth and sales for large corporations as well as , small to medium-sized businesses.

We can help you to drive your business in a more profitable direction.

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Remember, your success tomorrow is in direct proportion to your ‘Commitment to Excellence®’ today.™

Richard Tyler International, Inc.® 5773 Woodway Dr., Suite 860, Houston, TX 77057-1501, USA Tel: (+1) 713.974.7214 | Web: www.RichardTyler.com

PERSONNEL / Report Shows Companies Using Training to Foster Strong Workplaces, but are Missing the Board and Millennials

Report Shows Companies Using Training to Foster Strong Workplaces, but are Missing the Board and Millennials Ethics and compliance software and services company NAVEX Global® in late July announced findings from its 2016 Ethics & Compliance Training Benchmark Report. While creating a culture of ethics and respect was again respondents’ top objective, more than 40% of organisations do not train board members and only 20 % train new board members. rganisations understand the importance of training employees to value an open and strong culture that allows for good work, and they’re tapping high quality methods to do it,” said Ingrid Fredeen, J.D., NAVEX Global’s vice president of online learning content and the report’s author. “But boards and the C-suite are being left out. The consequences of a line manager understanding how to lead with fairness and within the law, but not board members and the top of the organisation, sets organisations up for failure or allegations of hypocrisy when an incident arises. It’s important for the full organisation to be on the same page.”

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The report, which included surveys from 644 ethics and compliance professionals, found notable gaps in training topics when comparing board training with training for the organisation as a whole. Only 12% trained board members about workplace harassment, compared with 76 % who train employees on that topic. Just 33 % train board members on conflicts of interest (compared with 76 % overall) and ominously, only 22% train board members on cyber security, compared with 69% overall.

“Failing to educate board members about cyber security is a major vulnerability – and is frankly shocking considering the sensitivity of what is on their devices,” Fredeen said. “Cyber breaches are increasingly about external entities, including state actors, seeking intelligence on corporate decisionmaking, plans and IP, not just accessing consumer data. Boards need to wake up to this and realise that IT solutions will not protect them if they are not trained on how to manage their digital exposure.”

The report found organisations have an opportunity to further align their training with an evolving workforce. Less than one in five have included mobile learning, gamification, just-in-time learning and social learning or created portals and enhancements.

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“By 2020, half of the American workforce will be millennials – and they see the world differently and want different things,” Fredeen said. “That doesn’t mean millennials can’t fit into the corporate environment, but the messaging and training for them needs to be different, and program innovation takes time. Organisations need to diversify their training options now and make them mobile.”

The report also identified the emergence of what the author calls an elite group of organisations that provide advanced training for their employees.

Based on criteria NAVEX Global provided in the survey to respondents, 12% identified their training programs as Advanced, and 50 % described them as Maturing. Nearly 40% rated their programs as Basic or Reactive.

“This was the first time we created a maturity index, and it’s clear that getting a program to the next level improves performance,” Fredeen said.

“Organisations noted a real difference – including more of a speak-up culture, improved morale and higher trust in leadership – if they had more mature programs.”

Other key findings include: • Culture of ethics and respect: 70% of respondents said that creating a culture of ethics and respect was one of their top three objectives, with 45% putting it at the top of the list.

• Compliance teams are seeking increased budget: 67% of respondents said they lacked the budget necessary to accomplish their objectives. Organisations with larger budgets were more mature and organisations with smaller budgets said they had Reactive or Basic programs.

• Aligning training with risk is gaining momentum: 39% of organisations are assigning courses based on learner role or risk, compared with 15 % last year. This is essential in improving program effectiveness and efficiency.

To download NAVEX Global’s 2016 Ethics & Compliance Training Benchmark Report, please click Learn more about www.navexglobal.com

NAVEX

Global:

PERSONNEL / Turnaround and Corporate Renewal: Corporate Renewal - Why this is Vital to Businesses Globally 1606AC03

Company: The Fennimore Group Name: John M. Coates, President and CEO Email: contactus@ fennimoregroup.com Web: www.fennimoregroup.com Address: 126 East Wing Street, #106, Arlington Heights, IL 60004

Turnaround and Corporate Renewal

Corporate Renewal - Why this is Vital to Businesses Globally Based in Chicago, the Fennimore Group is a highly innovative company helping businesses accelerate activity adopting change, organising work processes, aligning organisational infrastructure, and ensuring the completion of all work stream functionality. We spoke with the firm’s John M. Coates, President and Chief Executive Officer, to ascertain more about their unique approach towards corporate renewal. hen it comes to turnaround and corporate renewal, our firm uses our flagship method called Perfecting People and Process®™. This uniquely structured approach enables troubled businesses to realign and return to profitability. It begins by identifying the reasons for failing performance, placing these in ranked priority touching overall business impact, and rectifying these conditions across the enterprise, not just within a single business functional group or department.

Starting with our foundational building blocks utilised in developing a business or strategic plan, ultimately the Fennimore Group owes its success to the many attributes of our staff. Our firm’s professionals are all exceptional, well respected leaders. Each brings to an assignment more than twenty years of cross-functional comprehensive experience within manufacturing, purchasing, planning, finance, retail, customs compliance, global material flow, and with a unique hands-on approach.

Furthermore, the firm’s proprietary process tools enable the Fennimore Group to factually and accurately determine why a business is underperforming or failing. With an assessment in-hand, recovery and restructuring plans are developed for immediate deployment. Once approved, the Fennimore Group staff member joins our client staff during implementation, performing simple to complex tasks, providing continual review sustaining progress and adapting to changes attributable to external market conditions.

With advanced degrees, an intricate knowledge of business trends and current as well as the emerging technologies, and with our significant hands-on experience, our clients quickly develop comfort knowing there is no supplemental oversight required of our staff.

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The demand for high growth and margins creates continuous pressure on businesses to self-examine and evaluate performance. Using a firm like the Fennimore Group provides businesses with a critical external unbiased examination of their performance and processes against ‘world-class’ definitions of those requirements.

Although firms are increasingly realising the importance of corporate renewal, it is an area where we have seen continued success for over a decade. For more than 15 years, Fennimore Group’s work in corporate renewal continues to demonstrate why this is vital to businesses globally.

It is also true for a number of factors, where our engagements are completed 40 to 60% faster than most other firms focused in this area.

Behind this impressive statistic by our staff every day. Indeed, staff members have years of experience within our client’s knowledgeable in all aspects landscape, thus providing deployable-ready expertise.

is the work done Fennimore Group on-site operating industry and are of the operating our client with

Whether it is stronger competition, better services, or improved products, success happens when challenges are greeted with a comprehensive, adaptable plan managed by flexible responsiveness, in particular when one considers today’s highly digital disruptive behavioural landscape.

With the primary focus for the Fennimore Group within the S&P 500, we atypically define market by the number of ‘buyers and sellers’ within an industry vertical, allowing the population to dictate growth potential relative to new products or services that are so critical to a business’ success. It is a unique approach, providing the Fennimore Group enhanced flexibility to adapt to any series of client needs and demands.

Looking towards the final third of 2016 and beyond, we see a number of challenges and opportunities.

Business continuity is the current challenge for most global businesses. While most embrace change on a more frequent basis as they find themselves in a shrinking, and recently more politically tense global arena, what remains clear is the forces driving change and their solutions no longer necessarily follow or are tied to a scripted and predictable pattern. We remain confident that our wealth of experience will allow us to continue to enable our clients’ success thereby build upon our undoubted success.

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Andreas Jones Enterprise Name: Andreas Jones Enterprise Company: Andreas Jones Enterprise Web: www.andreasajones.com Address: 2158 Cumberland Pkwy SE #5307, Atlanta, GA 30339, USA

Executive Coaching: The Secret to Sustained Success - USA

Keeping the Pace Based in Atlanta, Georgia, Andreas Jones has become highly renowned for his coaching and consultancy concerning small business growth and profitability. In a nutshell, the company Andreas Jones Enterprise provides strategic business planning and development for small business owners and senior executives. This is all about ensuring that everyone in the business is working in the same direction, and that the employees are participating as much as they can and are satisfied with the work they are doing.

undamentally, coaching and consultancy is all about getting the employees to buy into the firm’s business vision and goals.

As soon as this is accomplished, it will inevitably improve the productivity and ultimately the bottom line productivity of the business.

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Keeping employees engaged is not easy task in the 21st century. The workplace has changed a lot, and if you look at major companies such as Google and Facebook, the working environment has become a lot more relaxed and informal. Workers’ attitudes have changed too, indeed the days are gone where employees would stay at a job for 20 or 30 years and then retire.

In fact, most people by the time they are 30 have worked for five or six companies because they are trying to find something that fits them. As such, employee satisfaction is so important, and the bottom line is that if employees and unhappy with

“If you have high performers in the organisation, you need to retain this talent and train the right people.” their job in the 21st century, they will leave. If you have high performers in the organisation, you need to retain this talent and train the right people.

Alongside these trends, there is so much more competition in the marketplace and the margin of error has become so much smaller. As such, you need to be able to keep your finger on the pulse, because if you do not, you will find yourself falling behind. Take Kodak for example, where they went from being the market leader to almost a nonexistent company, due to not looking at what is happening around them and the major changes in the industry.

The approach of Andreas Jones Enterprise is to take all of these developments in mind when we are working with any business. We take a 360-degree assessment, which not only assesses the employees, but also the executives and the management.

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First and foremost, the visions of a company’s employees and the management need to be aligned. If the employees are saying one thing, and the management are saying something else, then there is something wrong and they need to be on the same page. The firm find that this approach is particularly insightful as it is not a one-sided assessment, but goes to both sides of the spectrum.

You will find that the most successful companies are those of which have an alignment across the board and where everyone is buying into the vision.

Although I have a lot of corporate background, I think that my experience in the military has made the firm’s approach to consulting and coaching very unique. Everything in the military is systemised and process centred, and this is what Andreas Jones Enterprise bring to our approach, where what we implement is repeatable and duplicable.

My philosophy on strategic business management is not only useful for the clients of Andreas Jones Enterprise, but also forms the backbone of my own company too. My staff are incredibly important to me, and they are aligned with my vision which allows me to do proper due diligence and research for my clients. They are people I can rely upon, and as a result I am not tied up with the daily minutiae of tasks done and can therefore focus on the bigger picture.

Looking ahead, Andreas Jones Enterprise are no exception to the companies facing heavy competition in their marketplace. In this industry at present, the barrier is very low for coaching and consulting, which does create a sea of sameness effect. Many people do not have the right qualifications and experience to solve the complex issues that business owners and executives face, and this really diminishes the value of what a business coach and consultant can do.

If I were to give any company one piece of advice, it would be this. For any company to be successful in the 21st century, they need to be innovative because the traditional ways of marketing simply do not work anymore. You have to meet your customers where they are, and these days they are on their phones and the multiple digital channels that are out there. This is how consumers purchase and go about their daily lives, and this is why you need to adapt and be at the forefront of any trends and developments.

PERSONNEL / Executive Coaching: The Secret to Sustained Success - USA: Keeping the Pace

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Winners’ Directory 2016 Business Leaders Company: MOURI Tech Name: Anil Yerramreddy, CEO Email: info@mouritech.com Web Address: www.mouritech.com Address: 1303 W. Walnut Hill Ln, Suite # 285, Irving, TX 75038 Telephone: (972) 756 1500 2016 IP Practitioner of the Year - Argentina Company: O’Conor & Power Name: Santiago R. O’Conor Email: ocp@oconorpower.com.ar Web Address: www.oconorpower.com.ar Address: San Martín 663, Piso 9, Ciudad de Buenos Aires (C1004AAM) Argentina Telephone: (5411) 4311-2740 2016 IP Practitioner of the Year - Canada Company: Husky Injection Molding Systems Name: Intellectual Property – Global Team Email: huskyips@husky.ca Web Address: husky.ca Address: 500 QUEEN STREET SOUTH, BOLTON, ONTARIO, CANADA L7E 5S5 Telephone: 001 905 951 5000 2016 IP Practitioner of the Year - France Company: CASALONGA Name: Marianne GABRIEL Email: m.gabriel@casalonga.com Web Address: www.casalonga.com Address: 5/7 avenue Percier 75008 Paris Telephone: +33 (0)1 45 61 22 31 2016 IP Practitioner of the Year - Germany Company: Maiwald Patentanwalts GmbH Name: Dr. Martin Huenges, LL. M. Email: info@maiwald.eu Web Address: www.maiwald.eu Address: Elisenhof, Elisenstraße 3, 80335 Munich, Germany Telephone: +49 (0)89 7472660 2016 IP Practitioner of the Year - Japan Company: M. Ide & Co. Name: Masatake IDE Email: officei0p@midepat.com Web Address: www.midepat.com Address: 9F, Gobancho Grand Building 3-1, Gobancho, Chiyoda-Ku Tokyo 102-0076, Japan Telephone: +81 3 3263 7749

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2016 IP Practitioner of the Year - The Philippines Company: ROMULO MABANTA BUENAVENTURA SAYOC & DE LOS ANGELES Name: Benjamin Z. Lerma Email: Benjamin.Lerma@Romulo.com Web Address: www.Romulo.com Address: 21st Floor, Philamlife Tower, 8767 Paseo de Roxas, Makati City, Philippines Telephone: (+632) 848-0114 / 555-9555 2016 IP Practitioner of the Year - Slovenia Company: PATENTNI BIRO AF d.o.o.

Name: Antonija Flak Email: info@patentni-biro-af.si Web Address: www.patentni-biro-af.si Address: Kotnikova 32, 1000 Ljubljana, Slovenia Telephone: +386 1 43 00 335 2016 IP Practitioner of the Year - UK Company: MLP Law LLP Name: Stephen Attree Email: stephena@mlplaw.co.uk Web Address: www.mlplaw.co.uk Address: 7 Market St, Altrincham, WA14 1QE Telephone: 0161 926 9969 2016 IP Practitioner of the Year - Vietnam Company: Annam IP & Law Name: Le Quoc Chein Email: mail@annamlaw.com.vn Web Address: www.annamlaw.com Address: No. 10, Lane 34, Au Co Street, Tay Ho District, Hanoi Vietnam Telephone: +844 3718 6216 2016 IP Practitioner of the Year - Vietnam Company: Vision & Associates Name: Pham Nghiem Xuan Bac Email: vision@vision-associates.com Web Address: www.vision-associates.com Address: Unit 308-310, 3rd Floor, Hanoi Towers, 49 Hai Ba Trung Street, Hoan Kiem District, Hanoi, Vietnam Telephone: (84 4) 3934 0629 Fax: (84 4) 3934 0631 2016 Transfer Pricing Practitioner of the Year - China Company: CMS, China Name: Nicolas Zhu Email: Nicolas.Zhu@cmslegal.cn Web Address: www.cmslegal.cn Address: 2801 Plaza 66, Tower 2, 1266 Nanjing Road West Shanghai 200040 P.R.China Telephone: +86 21 6289 6363

2016 Transfer Pricing Practitioner of the Year – Poland Company: Grant Thornton Poland Name: Magdalena Olejnik Email: magdalena.olejnik@pl.gt.com Web Address: http://grantthornton.pl/en/ Address: ul. abpa Antoniego Baraniaka, 88E Budynek F, 61-131 Poland Telephone: +48 61 625 1100 Transfer Pricing Practitioner of the Year - Puerto Rico Company: Kevane Grant Thornton LLP Name: Jeannette De Orbeta Email: kgt@pr.gt.com Web Address: www.kevane.com Address: 33 Calle Bolivia Ste 400, San Juan, Puerto Rico 00917-2013 Telephone: (787) 754 1915 2016 Transfer Pricing Practitioner of the Year - Taiwan Company: Grant Thornton Taiwan Name: Jay Lo Email: jay.lo@tw.gt.com Web Address: http://www.grantthornton.tw/ Address: 5th Floor No. 21 Zhongxiao East Road, Sec. 6, Taipei 11575 Taiwan, Republic of China Telephone: +886 (0)2 2789 0887 America’s Best of the Best in Finance Company: McIntyre & Smith Name: David A.Smith Email: Dave@mcintyreandsmith.com Web Address: http://mcintyreandsmith.com/ Address: East Side Square, 1522 1 Street, Bedford, Indiana 47421-3836 Telephone: +1 (812) 275-3306 Business Elite 2016 Company: Onare´Salon Name: Mario Verrilli Email: mario@onaresalon.com Web Address: http://onaresalon.com/ Address: 2100 Hurontario St, Mississauga, ON L5B 1M8 Telephone: 001 905-279-4279 CEO of the Year 2016: USA Company: FutureNet Group Name: Perry Mehta Email: President@futurenetgroup.com Web Address: www.FutureNetGroup.com Address: 12801 Auburn St. Detroit, MI 48223 Telephone: 313-544-7117

Winners’ Directory

Most Innovative Hedge Fund Manager Company: Ross Financial Advisors, LLC Fund: Ross Aggressive Income Fund, LP Name: Douglas J. Ross Email: douglas@rossfinancialadvisors.com Web Address: www.rossfinancialadvisors.com Most Innovative Hedge Fund Manager - Switzerland Company: Finanz Konzept AG Name: Lars Oberle Email: info@finanz-konzept.ch Web Address: www.finanz-konzept.ch Address: Schulhausstrasse 42, 8002 Zürich, Switzerland Telephone: +41 44 204 34 64

Distinguished in Dispute Resolution 2016, Arbitrator of the Year - Austria Company: Hauser Partners Rechtsanwälte GmbH Name: Dr. Wulf Gordian Hauser Email: hauser@hauserpartners.com Web Address: www.hauserpartners.com Address: Seilerstätte 18-20, 1010 Vienna, Austria Telephone: +43 (0)1 512 29 00 Distinguished in Dispute Resolution 2016 - Serbia Company: Hrle Attorneys Name: Vladimir Hrle Email: vladimir.hrle@hrle-attorneys.rs Web Address: www.hrle-attorneys.rs Address: Simina 1, Belgrade, Serbia Telephone: +381 64 1106335 Fund Manager of the Year Company: SCM Direct.com Name: Gina Miller, Founder Email: enquiries@scmdirect.com Website: www.scmdirect.com Address: 2 Eaton Gate, London, SW1W 9BJ Telephone: 0207 838 8650 Top 50 in Tech Company: Sesui Name: Julian Sammells Email: Julian@sesui.com Web Address: www.sesui.com Address: Sesui, Magdalen Centre, The Oxford Science Park, Oxford, OX4 4GA Telephone: 03445 600 600

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