Private Equity Awards 2016

2016 awards

PRIVATE equity

Best for Mid-Market M&A Advisory Services - UK Cavendish Corporate Finance is the UK’s leading independent firm advising exclusively on sell side M&A to mid-market companies. We profile the firm and explore how its focused approach allows it to better service its clients.

BEST PAN-EUROPEAN EQUITY FINANCE PROVIDER

www.acquisition-intl.com

Welcome to the 2016 Private Equity Awards Private equity is a key aspect of all corporate financing, and helps to shape business landscape throughout the world and across business sectors.

The 2016 Private Equity Awards are a celebration of excellence in the global Private Equity arena, highlighting the expertise and ambition of the individuals and companies involved; from initial funding to eventual exit, and of course those that advise it.

Contents 4-5 Cavendish Corporate Finance Best for Mid-Market M&A Advisory Services - UK

6-7 Equistone Partners Europe Best Pan-European Equity Finance Provider

8-9 a2e Venture Catalysts Best Mid-Market Development Capital Firm - Greater Manchester

10 Blue Nordic Partners AG Best Mid-Cap Private Equity Firm - Switzerland

11 goetzpartners Best PE investor Strategic Advisor - Italy

12 Langley ehf Best Private Equity Firm - Iceland

13 Florman Family Trust Best Single Family Office PE Investor - UK

Cavendish Corporate Finance

Company: Cavendish Corporate Finance Email: info@cavendish.com Web Address: cavendish.com Address: 40 Portland Place, London, W1B 1NB Telephone: 020 7908 6000

Best for Mid-Market M&A Advisory Services - UK Cavendish Corporate Finance is the UK’s leading independent firm advising exclusively on sell side M&A to mid-market companies. We profile the firm and explore how its focused approach allows it to better service its clients.

For over 25 years, Cavendish has only acted for business owners, and in the twelve months to end of July 2016 the firm has advised on the sale of 22 businesses, helping proprietors achieve the best possible price for their companies, in what remains a tough economic environment, and finding new owners who can take those businesses forward and accelerate their growth and performance.

stakeholders, anywhere in the world. With 700 professionals in 60 offices located in 40 countries, trusted professionals with long-standing relationships at home and overseas, Oaklins gives you access to buyers around the world. This helps to avoid approaching local competitors or disclosing sensitive information, and in some cases, helps to improve domestic offers.

Understanding the range of businesses and technologies to a micro level is the challenge the firm has set itself. Central to achieving this is the firm’s specialist team led by experts with backgrounds in fields such as engineering and finance together with years spent in corporate finance.

Every step of the way, the team of Oaklins put clients first.

“...there are almost no other firms that operate in the corporate finance arena that have the sole purpose of selling businesses...”

Our entrenched expertise in so many subsectors is matched by unrivalled contacts with leading UK and multinationals. In addition, we can leverage our team of senor specialists within Oaklins, the world’s most experienced mid-market M&A advisor. Our Oaklins teams have closed over 1,500 deals in the past 5 years and to ensure the best results Oaklins always involve industry specialists, take a global view and leverage their deep local connections.

Oaklins’ professionals use their knowledge and experience to meet the needs of all

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Another key aspect of the firm, which truly differentiates it from its competitors, is the Exit Review, a process which is set in place prior to a business sale and allows firms to be ready for when the time comes. The Exit Review is an essential component of the Cavendish approach to marketing businesses because it is the most effective way to achieve the highest value for your business. This detailed, stringently conducted, strategic process can be concluded within two months at any time from six months to three years before sale – in corporate terms not a long period but it can yield disproportionately enormous benefits.

To achieve such success, against such a difficult market backdrop, Cavendish have developed an unrivalled knowledge of potential buyer pools and established teams of sector specialists, who are recognised authorities in their areas offering business owners expert advice on the best preparation, strategy and likely buyers to ensure a successful sale.

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Ultimately, there are almost no other firms that operate in the corporate finance arena that have the sole purpose of selling businesses; most represent buyers as well and this invariably begs the question by astute owners of business, are our advisors completely aligned with us? For over 25 years, Cavendish’s answer has been unequivocally ‘yes’.

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Equistone Partners Europe

Company: Equistone Partners Europe Web Address: equistonepe. com Address: One New Ludgate, 60 Ludgate Hill, London EC4M 7AW Telephone: +44 (0)20 7653 5300

Best Pan-European Equity Finance Provider Equistone Partners Europe is one of Europe’s leading private equity investors in mid-market buyouts. We spoke to Christiian Marriott, Funding and Investor Relations Partner at the firm, to learn more about the company and its service offering.

Equistone has a strong, consistent track record spanning over 30 years, with more than 350 transactions completed in this period. The firm invests in mid-market businesses with strong management teams, supporting their development through the provision of financial and operational support.

Staff are vital to the firm’s success, as Equistone operates across offices in the UK, France, Germany and Switzerland and prides itself on providing a local presence to originate deal opportunities and offer handson support to management teams. Christiian is equally proud of the firm’s supportive corporate culture.

Since its inception, Equistone has built up a long track record of investing in a diversified range of industry sectors across Western Europe. In the UK, Equistone has developed specific expertise in consumer and travel, financial services, specialist engineering and support services. These sectors account for about 85% of Equistone’s investment activity across Europe.

“We pride ourselves on our strong corporate culture and understand that this is integral to the long-term growth and success of the firm. The company as a whole is a partnership with strong team relationships, which are proven by the firm’s impressive retention rate. Our principles are in line with the interests of Equistone’s investors and form the basis of all investment decisions.”

“As competition within the PE market grows, we have to ensure that we remain diligent and alert when sourcing investment...”

In France and Germany, Equistone continues to pursue a generalist approach to originating investment opportunities.

“Fundamentally, as a leading European mid-market investor, we are constantly evolving our team to support our activities in the UK, France and the DACH region and drive outstanding results for our investors.

We look to hire the brightest and the best talent so that we, as a firm, can continue to source high-quality deal opportunities, provide hands-on strategic support to our investee companies, and deliver positive returns to our investors. We are delighted to have made four new hires to our deal team this year.”

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The firm takes several steps to ensure its vison is translated into reality for its clients, as Christiian explains.

“At Equistone we believe that aligning the interests of our investors and portfolio companies with those of society at large can enhance returns for our investors.

Businesses must preserve the trust of stakeholders in order to create long-term value for investors, and we therefore take an interest in how companies in our portfolio manage these issues, and, on behalf of our clients, encourage companies to adhere to the highest standards of business conduct.”

“We continue to seek opportunities to create outstanding value for our investors whilst making a positive impact on the communities our companies serve. The firm has developed robust Environmental

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and Social Governance policies to ensure we are at the forefront of industry best practice. Equistone satisfies many of the requirements of the United Nations Principles for Responsible Investment (“UNPRI”) relating to monitoring and intervention on behalf of our clients and is a member of the British Private Equity & Venture Capital Association.”

Equistone has enjoyed a successful 12 months, beyond the further strengthening of the team through new additions. 13 investments and 6 exits across a variety of sectors and geographies provide additional evidence of the continued deal momentum in the UK and continental Europe.

Moving forward, Christiian believes that the firm is in a strong position to build upon this success despite market uncertainties.

“Currently, the future for our market looks bright. Data from the Centre for

Management Buy-Out Research, of which Equistone is a long-standing sponsor, has shown that the UK remained Europe’s most active market for private equity during H1 2016 and that secondary buyouts are becoming more prevalent due to an increasing stock of private equity-owned companies in the economy.

“As competition within the PE market grows, we have to ensure that we remain diligent and alert when sourcing investment opportunities. We remain true to our disciplined approach and preference for sourcing off-market investments where we have formed close relationships with management teams. Consequently, Equistone does not get caught up in the chase for trophy assets.”

“Whilst Brexit may have created uncertainty in the market in the short term, Equistone’s business model of investing in Europe’s three largest economies as local capital partners has been sustained over 20 years throughout the economic cycle and previous periods of macro-economic uncertainty. We therefore feel well positioned to weather further uncertainty in the market.”

“Furthermore, Equistone’s highly experienced team is making every effort to manage the challenges which might arise and will strive to seek out investment opportunities in companies with compelling growth trajectories, as well as maximising the value of the portfolio companies already managed by Equistone.”

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PE160010 a2e Venture Catalysts

Company: a2e Venture Catalysts Web Address: a2evc.com Address: 1 Marsden Street, Manchester, M2 1HW Telephone: 0161 923 6000 Fax: 0161 236 7266

Best Mid-Market Development Capital Firm - Greater Manchester a2e Industries Limited is an investment specialist based in Manchester.

We profile the firm and explore the secrets behind its success.

Established in 2001, a2e’s operations closely resemble those of a traditional London Merchant Bank, but with an entrepreneurial perspective and a distinctive focus and ethos.

The principal of a2e Industries, Amin Amiri, is regarded as an innovative and distinctive corporate financier with an impressive track record of investing in and advising private companies in the last 20 years or so. He specialises in strategic development of businesses, “revitalising” businesses and enhancing shareholders value of investee companies and clients, hence his immense reputation in this field. His views are often sought by business organisations and journalists due to his unique expertise.

“...the firm’s potent expertise, “enabling” ethos and sharing of the rewards with all stakeholders brings together the three “pillars” of success...”

Since founding a2e in January 2001, he has acquired controlling stakes in 28 MidMarket Companies, achieved turnarounds in many, exited from 10 and created spectacular results for his investee companies. This conglomerate of controlled companies now has an annual turnover and EBIT exceeding £100m and £9m respectively. He is Chairman of 4 companies and provides leadership to the investee companies.

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The firm invest in or acquire underperforming Mid-market industrial companies. Its aim is to affect a transformation of the key fundamentals of the businesses, thus “enabling/ revitalising” the corporates and empowering the managers to prosper in the global marketplace.

The three prongs of the transformative process are: an astute strategic assessment of a business’s competences/competitive environment, an entrepreneurial deployment of its own funds and a robust alignment of our execution/management capabilities and respective interests.

Ultimately the firm’s potent expertise, “enabling” ethos and sharing of the rewards with all stakeholders brings together the three “pillars” of success, i.e. Strategic expertise, Funds to invest and Execution capability in a coordinated fashion. The firm’s ability to act decisively, effectively and speedily, significantly differentiates it from others.

Overall a2e’s impressive progress and track record is due to this allencompassing approach and its entrepreneurial perspective to creating value/ wealth for Mid-market businesses and shareholders, which will be its continued focus moving forward.

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PE160001 Blue Nordic Partners AG

Name: Viviane Sauter Email: sauter@blue-nordic. com Web Address: blue-nordic.com Address: Seedammstrasse 3 8808 Pfäffikon SZ, Switzerland Telephone: +41 55 417 47 25

Best Mid-Cap Private Equity Firm Switzerland Blue Nordic Partners AG (BNP AG), a Swiss private equity company, wholly owned by Blue Nordic Partners INC. Canada (BNP INC). We spoke to Viviane Sauter to find out more.

BNP AG engages with its proprietary Master Capital Package in Germany, Austria, and Switzerland in established small and medium sized enterprises (“Mittelstand Companies”) with proven business models.

These target companies are led by visionary entrepreneurs who are keen to capitalize on near-term, sustainable highly value-added special opportunities through the measures of our Master Plan. BNP AG works in close partnerships with counties, cities and municipalities.

The portfolio companies benefit from this cooperation with the public sector

“...many exciting plans for the future which will provide it with numerous opportunities for growth and further success.” in Germany as a highly attractive alternative source of capital.

In her opening comments, Viviane talks us through the firm’s mission and the steps the company takes to achieve this.

“Our mission is to offer our shareholders and portfolio companies the best value possible. We achieve this by applying a stringent selection process. This involves making it a

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pre-condition to engage only with companies where BNP AG has a specific angle to actively provide strategic and tactical support to implement the value added objectives. We seek to complement the entrepreneur to sustainably enhance the value of his enterprise.”

Looking ahead, Viviane is keen to emphasise that BNP AG has many exciting plans for the future which will provide it with numerous opportunities for growth and further success.

“Moving forward we have a number of projects coming up. BNP AG builds and manages a continuously growing, well diversified portfolio of paid-up, unencumbered minority interests in SMEs. BNP INC. shareholders may therefore benefit from a low risk/high yield SME portfolio.

“As an integral part of the Master Capital Package, exits are strategically planned and organized, and the portfolio is continuously rotating. Participations are divested within a period of maximum 36 months from date of closing and implementation of Master Plan. The net proceeds from the divestitures are available for distribution to the shareholders.”

PE160016 goetzpartners

Company: goetzpartners Name: Giovanni Calia Email: giovanni.calia@ goetzpartners.com Telephone: +39 02 39520624 Address: Piazza Fontana, 6 20122 Milano Web Address: goetzpartners. com

Best PE Investor Strategic Advisor Italy goetzpartners is an independent international advisory firm for all key issues of entrepreneurial activity: strategy, M&A and transformation.

We invited Giovanni Calia, Managing Director of the Italian office of goetzpartners, to talk us through the firm’s unique approach.

Founded in Munich in 1991 by Dr. Stephan Goetz and Stefan Sanktjohanser, today goetzpartners advises clients worldwide in all key industries with more than 300 professionals operating out of 14 offices across Europe, North America, Middle East and Asia-Pacific.

“For the key business issues of strategy, M&A and transformation, standard solutions are rarely the right answer. On every project, goetzpartners ensures that there is always sufficient scope for proven methods combined with individual and client-specific approaches.

Our consultants lay the foundations for excellent results by trusting their own opinions and experience and taking a strong stance on the entrepreneurial challenges to be resolved.

“We have delivered hundreds of buyside and sell-side strategic due diligence in the last years for a total cumulated transaction value exceeding 12 billion.

Our client base consists of more than 90 financial investors ranging from specialized funds to global large cap investors.

“In 2016, we have been highly successful in the Italian market, where we are recognized as the preferred strategic due diligence advisor”.

“...goetzpartners advises clients worldwide in all key industries with more than 300 professionals...”

Boasting a vast wealth of business experience, goetzpartners advises clients in all key industries worldwide: Business Services, Energy, Financial Institutions, Healthcare, Industrials & Automotive, Retail & Consumer Goods and TMT”.

In Private Equity, goetzpartners advises leading PE firms offering global integrated and highly specialized services along the entire investment horizon of a financial investor: acquisition, value creation and exit.

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PE160013 Langley ehf

Name: Fabio Quaradeghini Company: Langley ehf Email: Fabio@langley.is Web Address: langleyadvisory.com Head Office: Sudurgata 18, 101 Reykjavik, Iceland Telephone: +3546615220 UK Office: 26 Cadogan Square, London SW1X 0JP Telephone: +447470071004

Best Private Equity Firm – Iceland & Recognised Leader in Middle Market Investment - Nordic Countries Langley is a private equity advisory firm specialising in fund of funds, secondary investments and co-investments. We invited Fabio Quaradeghini to tell us more about the firm and how it aims to provide the very best service to its investors.

Established in 2012, Langley has experienced rapid growth since inception and the firm currently advises a fund of funds and a secondaries and coinvestment fund. The vast majority of the firm’s clients are pension funds and banks. Within the private equity space, the firm offers private equity fund of funds; secondaries and co-investment funds; and managed account advisory services, with a particular focus on the European mid-market. Fabio discusses how far the firm has come since inception and its value focused mission.

“While Langley has only been in operation since 2012, the managers have been providing excellent services to clients since 2005 and have produced two Funds

“These developments will help us to take the business forward and we are looking forward to what the future holds...” ranked either number 1 or 2 according to Prequin in that period. This performance plus a concentrated effort to be close to our clients may have led to them nominating us for this award for which we are very grateful indeed.

“Our approach also helps us to achieve our overall mission: to generate maximum value for clients all the while ensuring that our interests and theirs are as completely aligned as possible. This requires us to put a very significant amount of our own capital into all our vehicles alongside our fellow partners.”

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Moving forward, Fabio is eager to focus on the firm’s exciting opportunities which will help it to grow and achieve even better returns for investors.

“Currently, our latest secondaries and coinvestment fund (LPE Astraeus) is due to close in Q4 2016 and is still open to new investors at cost plus equalisation interest of 8% despite being up 1.82x. We look forward to the closing at our target soon and are confident that the fund will be a success.

“In addition, we are also working on further developing and expanding our managed account/ individual mandate service to pension funds and banks, which is currently being rolled out in Scandinavia. These developments will help us to take the business forward and we are looking forward to what the future holds for Langley.”

The Florman Family Trust

Name: Mark Florman Company: Florman Family Trust Email: info@ flormanfamilytrust.com Web Address: flormanfamilytrust.com

Best Single Family Office PE Investor UK The Florman Family Trust (FFT) is a single family office, with a particular focus on private equity investing. We invited Mark Florman to tell us more about the Trust and its investment programme.

Founded in 2000, FFT is an active investor in direct private markets, coinvestments and private equity managers and their funds. Mark talks us through Trust’s focus and its approach to investing.

“Here at FFT our main focus is private equity, where we are currently invested in some 25 funds through 18 managers.

The programme is invested principally in buyout funds across Europe and North America, with a smaller exposure to Latin America and Asia, as well as some co-investment, credit, real estate and secondary funds. We believe in the power of co-operation, and as such, we have founded an informal European Family Office club, connecting other family

“I was instrumental in negotiating a workable regulatory framework for the industry and coled on negotiations for AIFMD in Europe.” offices investing in private equity. The family office segment can be perceived as fragmented and secretive. Our club provides a forum for the sharing of investment ideas and opportunities.

“Our goal is to be a trusted, co-operative LP invested in the best private equity funds and managers globally. We strive to be a proactive, helpful LP and member of the wider private equity community. Our level of engagement is derived from my long term involvement in the industry - as CEO of the BVCA, I was instrumental in negotiating a workable regulatory

framework for the industry and co-led on negotiations for AIFMD in Europe.

Previously, I was at Doughty Hanson and co-founded 8 Miles, the African private equity firm. I can see things from the perspective of a GP (manager) as well as an LP.” Within private equity there are many opportunities, but also challenges. Mark discusses how the Trust takes advantage of the opportunities and adapts around the challenges.

“For us the greatest challenge is good fund selection. The volume of opportunities that managers present to us continues to increase, many overlap, others complement - good fund selection becomes even more important, and difficult in this environment. We review and meet with many managers on a daily basis, and one of the most important criteria for us is the individuals, not only their experience, but their integrity and drive, as this closely aligns with our own values. Maintaining open, active communication channels with managers, regardless of whether or not we invest with them, is key to our ongoing mapping of opportunities.”

In his final comment Mark looks to the future and describes how the Trust aims to build upon its current success.

“Going forward, we plan to continue investing in 6-8 funds a year. We have a positive outlook for private equity, believe it will continue to perform well, and remain committed to it as an asset class.”

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