GlobAltransactor

3nd Annual Global M&A Conference
SPECIAL EDITION
globaltransactor
Mid-Market Advisory Services from the Cross-Border Specialists
Closing
Deals
Around
the World
Hosted by:
The middle market’s premier international
networking and deal-making event.
On May 8 & 9, over 300 globally-minded corporate, private
equity and transaction professionals from nearly 40 nations
gathered in Boston, USA to share ideas and tackle themes
influencing the M&A marketplace. This invitation-only
event, in its third year, has proven to be ideally structured
with a high-impact agenda over one-and-a-half days. Expert
panelists provided unique insights into the globalization of
the middle market and buying, selling and financing business
transactions across international borders, while ample time
was dedicated for networking and relationship-building. The
chance to explore the world in just two hours by meeting with
corporate finance specialists from over 30 countries during the
Global M&A Partner Expo provided delegates with a unique
opportunity to source deals.
A sampling of corporate and private equity attendees
include: AEA Investors, Apax Partners, Brady Corporation,
Cadbury Schweppes plc, Cardinal Capital Partners, Celestica,
Corpra, Danaher Corporation, Ecolab, Etex Group, FKI plc,
Fox Paine & Company, GOJO Industries, Heritage Partners,
H.I.G. Capital, Huber + Suhner AG, Kennametal Inc., Leggett
& Platt, Mezzanine Management, Nordson Corporation,
Pfingsten Partners, RPM Europe, Tenneco Automotive, Tyco
Healthcare, The Carlyle Group, The Hershey Company, and
The Riverside Company.
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Press
The 4th Annual Global M&A CrossBorder Conference will be hosted by
Livingstone Guarantee in London on
April 26-27, 2007.
For further information,
contact Andrea St.
Hill at andrea.sthill@
livguarantee.com
Umberto Angeloni, Brioni Group, Italy opens
the conference.
Opening night reception on the waterfront of the
Boston Harbor Hotel.
Speakers, Panelists Inform and Enlighten Audience
During the conference, experts from diverse disciplines and backgrounds provided valuable information and insights to
the 320 attendees. Day one speakers included Eugene Goodwillie of White & Case discussing the key elements of running a
successful global company and Brioni CEO Umberto Angeloni talking about creating and developing a luxury goods brand
globally. On day two, luncheon keynote speaker Béla Szigethy of The Riverside Company presented three global acquisition
case studies and conducted an interactive session with the delegates about what they would do in these situations.
Over the one-and-a-half day conference, seven panel discussions covered a variety of timely topics and featured leaders
in the M&A and private equity fields. Panel topics and participants included:
Blue Ribbon Panel: Private Equity’s Boundless Global
Frontiers
• The pros and cons of looking overseas vs. in the US
• Are US markets expensive and do overseas markets
offer more opportunity?
• Funding deals and access to debt for global deals
Moderator:
Panelists: Jeremy Furniss, Livingstone Guarantee, UK
Kevin Callaghan, Berkshire Partners, USA
Martin Mannion, Summit Partners, USA/UK Howard Morgan, Castle Harlan & CHAMP Australia, USA/Australia
Alan Wilkinson, AEA, USA/UK
Frédéric de Boer, of Global M&A partner Zetra International, comments on
opportunities in the Swiss international distressed market.
Special Power Hour: The Sun Rises on Far East M&A
• Cross-border vs. in-country middle market transactions
• Buyouts vs. investments or joint ventures
• How the legal systems facilitate or frustrate the
M&A process
International Opportunities with Distressed Companies
• Where are the markets and where are they going?
• Leveraging debt positions in foreign jurisdictions
• Do foreign perceptions of hedge funds limit their
effectiveness?
Moderator:
Panelists:
Moderator: Christoph Schindler, BBK, Germany
Panelists: Frédéric de Boer, Zetra International, Switzerland, Philip Dougall, Sun European Partners, UK, Christian Heidl, Mezzanine Management, USA
Matthew Niemann, Cerberus Capital Management, USA
Michael Psaros, KPS Special Situations Funds, USA
Scott Lang, Brown Gibbons Lang & Company, USA
Philippe der Megreditchian, Meridian Capital, Russia
Owen Hultman, RECOF Corporation, Japan
Henry Ng, Asian Capital Partners,
Hong Kong
Satish Shenoy, Meghraj SP Corporate Finance, India
Cross-Border Transaction Trends, Tools and Tactics
• The differences between PE and corporates on both
sides of the Atlantic – who has the upper hand?
• Deal pressure leading to reduced due diligence – is this
good or bad?
• Lessons learned from doing deals in BRIC (Brazil,
Russia, India, China) countries – is it worth the pain?
Moderator:
Panelists:
Participants enjoy an authentic New England Clam Bake.
Denzil Rankine, AMR International, UK
Daniel Latham, White & Case, USA
Stephan Herlitzius, Tauw, Germany
Riccardo Maria Monti, Value Partners, Italy
David Walsh, Bank of Ireland, Ireland
Global M&A partners Ricardo Pérez,
Pablo Rión y Asociados (Mexico), Ralph
Hagelgans, InterFinanz (Germany)
and Xavier Guillard, Synergis Capital
(Canada), sport their native football
jerseys in celebration of the 2006 World
Cup at the Flavor of Latin America
reception. Joining them is Howard
Morgan, Castle Harlan Inc. (USA).
Food & Beverage: A Voracious Worldwide Appetite
• The natural and organic foods trend
• The progression toward convenient and indulgent foods
• Pros and cons of moving manufacturing overseas
• What impact have large food conglomerates had on the
industry?
Moderator:
Panelists:
H. Glen Clarke, BGL, USA
Steven Cordier, Penford Corporation,USA
Jeffrey Edleman, The Hershey Company, USA
Stephen Joy, Cadbury Schweppes, UK, Clarence Schwab, TSG Consumer
Partners, USA
Kevin Schwartz, Fox Paine & Company, USA
Moderator:
Panelists:
Global Wholesale Distribution: Consolidating at an Accelerating Pace
• What company features are attractive to acquirers?
• Where is the distribution industry heading in the next
10 years?
• What is the importance of small players and
generational change?
James Miller, Brown Gibbons Lang and Company, USA
Peter Gotsch, Code Hennessy & Simmons, USA
Thomas Ireland, Clayton, Dubilier & Rice, USA
James McGibbon, The Home Depot, USA
Lawrence Stoddard, Wolseley, USA
Richard Worthy, US Electrical Services, USA
Private Equity vs. Corporate Acquisitions:
Sharing and Comparing Notes
• Generating attractive PE returns despite a lack of
synergy and deep industry expertise
• Publicly traded corporate ownership model vs. private
equity investors for asset and company acquisitions
• What common conditions within an industry make
private investment likely?
Global M&A Chairman Michael
Gibbons (center) of US partner
and host Brown Gibbons
Lang & Company meets with
conference delegates during
the Expo.
Moderator:
Panelists:
David Fubini, McKinsey and Company, USA
Oliver Gottschalg, HEC Paris, France
Buddy Gumina, Apax Partners, USA
Jay Jester, Audax Group, USA
Rahul Suri, Celestica, Canada
Keynote Speaker, Béla Szigethy
Keynote speaker Béla Szigethy, The Riverside Company.
Béla Szigethy founded The Riverside Company in 1988 as a private
equity firm investing in premier companies at the smaller end of the
middle market. Throughout its history, Riverside has maintained a
core philosophy of investing in smaller market-leading companies,
enabling it to acquire more than 125 companies and to build $1.4
billion of capital under management in North America and Europe.
Béla presented three global acquisition case studies and invited the
luncheon audience to play the role of Investment Committee. The
interactive session was enjoyable and humbling as the investment
outcomes were shared. The lesson learned? There is a chasm
between projections and reality….what you expect is almost never
what you get!
“This is the single most productive conference I’ve ever attended.”
Mike Psaros, managing principal, KPS Special Situations Funds, USA
The global wholesale distribution panel focuses on a consolidating industry. Left to Right: Peter Gotsch, Code Hennessy & Simmons; Thomas Ireland, Clayton, Dubilier &
Rice; Jim McGibbon, The Home Depot; Lawrence Stoddard, Wolseley; Richard Worthy, US Electrical Services.
The Mid-Market Sentiment Study Spring 2006
The latest Global M&A study to be commissioned from M&A intelligence provider mergermarket, finds dealmakers confident of
an increase in cross-border mid-market M&A for the rest of 2006.
Key Findings:
● The majority of respondents view themselves more acquisitive going into the next six months.
● Eighty-three percent of both corporate and private equity respondents expect cross border M&A activity to increase in the next six months.
● Both corporate and private equity respondents see private and family-owned businesses as the best source for mid market acquistions opportunities.
● Seventy percent of corporate respondents predict company valuations will increase in the next six months, but only 41 percent of PE respondents think company valuations will rise.
● When making acquisitions, the majority of corporate respondents do not consider private equity firms a serious threat.
● A majority of private equity respondents expect to face stiffer opposition from trade buyers, although one-third of PE respondents believe that competition from strategic buyers will remain the same.
The May 2006 Mid-Market Sentiment Survey can be downloaded from the Global M&A website,
http://www.globalma.com/page/news.
“Event management can’t get any better than this. A golden
opportunity to share a truly global experience –
on one shot you get them all.”
Alcibíades López Cerón, director for Europe, FCC Construcción S.A., Spain
3rd Annual Global M&A Cross-Border Conference Sponsors
White & Case LLP is a leading global
law firm with offices in 25 countries.
www.whitecase.com
Bank of Ireland is a fully diversified
financial services group serving US and
European markets.
www.bankofireland.ie
Cardinal Capital Partners is one of
the largest sale-leaseback providers in
the US.
www.cardinalcapital.com
Media and technical sponsors
IntraLinks is the leading provider of
virtual data rooms for M&A transactions.
www.intralinks.com
Mergermarket is an independent M&A
intelligence service with journalists in
43 locations.
www.mergermarket.com
Mezzanine Management provides
mezzanine and private equity to growth
companies in the US and across Europe.
www.mezzanine-management.com
Private Equity Analyst is the leading
provider of data, news and analysis for
private equity professionals.
www.privateequity.dowjones.com
BBK is an international business advisory
firm offering operational restructuring
services.
www.e-bbk.com
Private Equity International, the global
magazine for private equity, delivers
fresh news and insight on the global
marketplace.
www.privateequityonline.com and
www.privateequityinternational.com
AMR International performs commercial
due diligence.
www.amrinternational.com
Tauw is an environmental international
consulting and engineering company.
www.tauw.nl
INSEAD is one of the world’s leading
top-tier graduate business schools.
www.insead.edu
Global M&A welcomes partners from Central and South America and Iceland
Iceland.
“The addition of these new firms represents Global M&A’s philosophy of bringing the world’s leading independent
middle market investment banking boutiques into our partnership.” – Michael Gibbons, chairman of Global M&A
Cafissa – Central America
Costa Rica based Cafissa offers clients financial structuring services, business assessment, and advice
on strategic alliance as well as merging and acquisition processes. The firm has a global vision and a
regional approach, with deep knowledge of the Central American markets and strong relationships with main banks
in Central America and the Caribbean region.
Kontakt – Iceland
Kontakt is the largest independent consultancy boutique specializing in mergers and acquisitions in
Iceland. The firm focuses on providing tailored service at all stages of mergers, acquisitions and sales of small and
medium sized privately-owned businesses. Kontakt is active in all sectors of the market.
Macroconsult – Peru
Founded in 1985, Macroconsult is one of Peru’s leading firms in economic consultancy,
investment banking and business management advice. During the last 20 years, the firm has been involved in the
wholesale transformation of the Peruvian economy, taking part in a number of significant transactions and advisory
services. Macroconsult has built a reputation as a trusted technical and independent advisor for private corporations
and public institutions.
Global M&A Contact List
Australia
Beerworth & Partners
Bill Beerworth
T +61 2 9259 0000
E bill@beerworth.com
Finland
Italy
Aventum Partners
Antti Kemppainen
T +358 9 6850 2230
E antti.kemppainen@
aventum.fi
Austria
CD Invest Consult
Harald Klien
T +43 1 99 00 220 0
E harald.klien@cdiconsult.com
Belgium
M&A International
Karsten Langer
T +32 2 627 51 30
E langer@mabrussels.com
Brazil
Amati Negócios
Internacionais
Antonio Toffoli Baptista
T +55 51 3328 1900
E amati@amati.com.br
Financière de Courcelles
Véronique Zeid-Maurel
T +33 1 43 59 03 94
E gma@
financieredecourcelles.fr
Germany
InterFinanz
Christian Grandin
T +49 211 168 020
E grandin@interfinanz.com
Hong Kong
Asian Capital Partners
Henry Ng
T +852 2826 9536
E henry_ng@asiancap.com
RECOF Corporation
Owen Hultman
T +81 3 3221 4948
E owen@recof.co.jp
Mexico
Pablo Rión y Asociados
Saúl Villa
T +52 (55) 55 20 31 44
E svilla@pablorion.com
Netherlands
Solveigh Corporate
Development
Ernst Jan Kruis
T +31 10 238 18 00
E ejkruis@solveigh.nl
Norway
Hungary
Invescom Corporate Finance
Zoltán Siklósi
T +36 1 275 1116
E siklosi@invescom.hu
Saga Corporate Finance
Ivan Alver
T +47 24 14 54 60
E ivan.alver@sagacorporate.
no
Costa Rica
Cafissa Capital
Dáuber Sibaja
T +506 290 8406
E dsibaja@cafissa.com
Iceland
Peru
Kontakt
Brynhildur Bergthorsdottir
T +354 414 1200
E brynhildur@kontakt.is
Macroconsult
Róger Espinosa
T: +511 422 2142
E rofranes@macrocon.com.pe
Czech Republic
Benson Oak
Pierre Caquet
T +420 222 51 24 22
E pec@bensonoak.com
Denmark
Nordic Corporate Finance
Peter Søgaard
T +45 36 11 09 24
E peter.sogaard@ncfcorporate.dk
Spain
NC Finanzas Corporativas
Neil Collen
T +34 96 352 45 04
E neil.collen@nc-corporate.
com
Japan
France
Canada
Synergis Capital
Allison Dent
T +1 514 845 1079
E adent@synergiscapital.com
Cross Border
Nuccia Cavalieri
T +39 02 782 138
E ncavalieri@crossborder.it
India
Poland
Meghraj SP Corporate
Finance
Binoy R. V. Meghraj
T +91 22 2493 1764
E brvmeghraj@meghraj.com
Ireland
Hexagon Capital Advisors
Rafal Nowakowski
T +48 22 696 32 40
E rnowakowski@
hexagoncapital.com
Russia
CFM Capital
Martin Cole
T +353 1 449 4422
E mcole@cfmcapital.com
Meridian Capital
Ivan Belga
T +7 495 937 59 33
E ivan.belga@
meridiancapital.ru
www.globalma.com
Sweden
Arctos Mergers &
Acquisitions
Thomas Karlsson
T +46 8 545 321 53
E thomas.karlsson@arctos.se
Switzerland
Zetra International
Frédéric de Boer
T +41 44 7555 999
E frederic.deboer@zetrainternational.com
Turkey
Total Finans
Metin Bonfil
T +90 212 275 0175
E mbonfil@totalyonetim.com
United Kingdom
Livingstone Guarantee
Jeremy Furniss
T +44 207 484 4703
E jeremy.furniss@
livguarantee.com
United States
Brown Gibbons Lang &
Company
Michael Gibbons
T +1 216 241 2800
E mgibbons@bglco.com
United States – lower middle market
Meridian Capital
Chuck Wilke
T +1 206 224 6151
E cwilke@meridianllc.com