CD Invest Consult GmbH Presentation February 2010
ContentWe find strategic partners for companies • Introducing CD INVEST/Global M&A (GMA) 3 • CD Invest Transaction Team and References 6 • Project Flow and Project Costs 28 • Contact 32 This Presentation was prepared exclusively for the benefit and internal use of certain designated recipients (the “Recipient“) in order to indicate, on a preliminary basis, the feasibility of a possible Transaction. The information of this Presentation is based on data bases and publicly available information. Neither this Presentation nor any of its contents may be used for any other purpose without the prior written consent of CD Invest Consult GmbH. The Recipient understands that it may only use this Presentation to that end. This Presentation is incomplete without reference to, and should be viewed solely in conjunction with, the oral briefing provided by CD Invest Consult GmbH. This Presentation is not intended to serve as the basis for a decision on a potential investment in the Company. Under no legislation can this Presentation be understood as a brochure, offer, invitation, or a proposal to sell, buy, or subscribe any shares and/or assets. The accuracy of the data provided was not verified and we assume no liability for the content. Compensation claims for damages resulting from this Presentation are excluded by its nature. In any case, we reserve claims by reason of improper use of this Presentation or information contained therein.
Introducing CD Invest/Global M&A (GMA) GMA’s and CD Invest’s strength lie in the worldwide network of industry experts who have excellent M&A process management abilities
IntroductionCD Invest – a part of the worldwide organisation Global M&A
CD Invest – Transaction Team und References CD Invest has a significant track record and consists of a team of experts in different industry sectors.
CD INVEST CD INVEST Transaction Team CD INVEST Transaction Team in Austria Quintin Althann, BBA Associate Dr. Harald KlienManaging Partner Andreas Resch Research Dr. Heike Jandl Managing Partner . . . Paul Rabel Research . Mag. Heinz Hofstätter Senior Partner . . . . Helga Todt Office Manager Dr. Clemens Regehr Consultant Mag. Angela Sigmund Consultant
CD INVEST CD INVEST Transaction TeamCD INVEST Transaction Team in South-East Europe Mladen Eror Consultant Croatia Franz Weber Managing Partner . Tomislav Tičić Consultant Croatia Dragan SimeunovicConsultant Slovenia . . . . Velimir GavrilovicConsultant Serbia Martina SumanConsultant Bosnia & Herzegovina . .
Managing Partner AustriaHarald Klien Management Consulting • Mergers & Acquisitions • Privatizations • Fundraising • Investments • Corporate Finance • Supervisory and advisory board • Teaching activity at university Sector Experience • Construction, real estate, transport, steel, non-ferrous metal, railway supply industry, infrastructure, machinery, engineering, telecom, IT, automotive, media, food, tourism Selected M&A Project experience • Acquisition and divestiture of various steel processing and engineering companies • Divestiture of one telecom company • Acquisition and divestiture of various building companies and building suppliers • Acquisition of a stock quoted automotive supplier • Acquisition of various licences • Consultation in the divestiture of a company offering assembly systems • Consultation in the acquisition and divestiture of state-owned residential and commercial real estate properties • Consultation in the privatization of a printed circuit board company • Consultation in the divestiture of a medical equipment company • Fundraising for an IT company • Acquisition and divestiture of manufacturers of branded goods and food makers • Fundraising for property & private equity funds Harald C. Klien Education University of Economics,Vienna, Austria,Business Administration Degree (Ph.D. ) in Economics Date of Birth March 11, 1957 Languages German English
Managing Partner AustriaHeike Jandl Management Consulting • Mergers & Acquisitions at medium-sized companies • Successor management at family-owned enterprises • Fundraising • Privatizations • Strategic Alliance • Corporate Finance Sector Experience • Plant Engineering • Service Industry • Printing / Publishing • Media • Storage and machinery systems • Building Industry Selected M&A Project experience • Management Buy In in the machinery Industry • Privatization of a shop fitting company • Acquisition of a plant engineering company • Acquisition of an automotive supplier • Divestiture of a publishing company in the Czech Republic • Divestiture of newspaper and media company • Divestiture of a roof systems production company • Divestiture of a company in the subconstruction work • Divestiture of a company in the wood industry • Divestiture of a building company Heike Jandl Education University of Economics,Graz, Austria, andSt. Gallen , Switzerland,Business Administration Degree (Ph.D. ) in Economics Date of Birth August 14, 1972 Languages German, EnglishFrench, Spanish
Managing Partner South East EuropeFranz Weber Management Consulting • Mergers & Acquisitions • Fundraising • Privatizations • Strategic Alliance • Corporate Finance Sector Experience • Information technology • Service Industry • Telecommunications • Media Selected M&A Project experience • Sale of software company • Financing of a telecom supplier • Sale of electronic equipment production company • Expansion strategy into CEE markets Franz Weber Education University of Vienna, Austria Degree (Mag. ) in Computer Science Webster University, campus Vienna, Austria MBA in Finance Date of Birth August 20, 1967 Languages German, EnglishSlovenian, Croatian
Senior PartnerHeinz Hofstaetter Management Experience • Executive board, managing director (CEO, CSO, CRO) • Executive director according to BWG and WAG • Managing director of one of the largest special securitization companies in Austria Sector Experience • Business Consulting • Asset Management • Private Equity • M&A • Retail Banking Selected Project Experience • Equity financing, financing: equity financing models for asset managers and PE firms – also listed companies (EUR 3 bn.) • Financing, derivatives: consulting to administration of debt portfolios (EUR 3 bn.) • Public sector financing, public sector leasing, overall budget: EUR 6 bn. • Implementation and monitoring of structured credit hedge funds (AuM 3.5 bn.) • Evaluation and implementation of product and distribution channels • Set-up of a diversified assessment strategy regarding legal, fiscal and financial optimisation - EUR 6,5 bn. assets under management in all kinds of assets. Mag. Heinz Hofstaetter Education Business Administration Vienna University of Economics and Business Administration Date of Birth 1964, Krems Languages Germany English
ConsultantClemens Regehr Experience Transactions Contracts in M&A and Private Equity Due diligence Marketanalysis Long list research: identification of potential investors Sector Experience Energy Information Technologies HighTech Printing / Publishing Human Resources Banken Selected M&A Project Experience Identification of potential buyers / Human Resources Form of contract / Energy Form of contract / Logistic Due Diligence for a cabel company Due Diligence for a film production company Clemens Regehr Education University of Law in Munich, Germany Admitted to Munich bar University of Vienna, Austria Degree (Ph.D.) in Law Date of Birth October 2, 1978 Languages German, English, French, Dutch
Experience Company valuation and analysis Due diligence Preparation of financial and business plans Long list research: identification of potential investors Market analysis Sector Experience Construction, steel, metal and timber industry Retail Automotive Information and communication industry, software, high tech Real estate Energy Tourism Financial services Selected M&A Project Experience Due diligence coordination: Energy, retail, timber, steel, automotive Company valuations: Construction, ITC, energy, retail, fiber Search for potential investors: Retail, ITC, steel, automotive ConsultantAngela Sigmund Angela Sigmund Education University of Vienna, Austria International Business Administration Date of Birth December 2, 1983 Languages German English Spanish
Experience Market analysis Long list research: identification of potential investors Identification of company data Sector Experience Real estate Timber Financial Institutions Industry Executive Search Food & Beverage Selected M&A Project Experience Sale of a producer of herbs and spices Sale of a tea and fruit juice producer Private Equity Fund raising Target research HR Target research IT Longlists and further sale projects AssociateQuintin Althann Quintin Althann Education Webster University Vienna Bachelor of Business Administration Date of Birth January 6, 1982 Languages German English
Consultant South East Europe Mladen Eror Sector Experience • Private Equity & Venture Capital • Equity Market • Franchising • Business Development und People Management Position • Managing director • Sales & Marketing engineer • Franchising Manager Company • Adriatic Kapital • Copernicus Kapital • McDonald’s Croatia • Ericsson Austria • A.R.P. Unternehmensberatung GmbH, München Mladen Eror Education University of Economics, Faculty of Electrical Engineering and Computing Zagreb, Croatia Date of Birth July, 26, 1965 Languages Croatian, German, English
Consultant South East Europe Tomislav Tičić Experience • Daily management and operations • Private equity • Company valuation & analysis • Project management • Corporate finance Position • CFO • Investment Manager • Broker Company • Putovanja sa stilom d.o.o. travel agency • Blue Studio d.o.o. , real estate • Lancana d.o.o. , real estate • M San Grupa d.o.o., IT distribution • Copernicus Adriatic, private equity • Zagrebačka banka d.d., broker Tomislav Tičić Education University of Zagreb, Croatia Faculty of Economics Date of Birth July 7th,1973 Languages Croatian, English, Italian
Consultant South East EuropeDragan Simeunović Experience • Company valuation and analysis • Sales & Marketing • Market Analysis • Due Diligence • Strategy planning Sector Experience • Information Technology • Electronic Equipment Manufacturing • Industrial Automation • Telecommunications • System integration in telecommunications • Internet & Media Industry Selected M&A Project experience • Telecommunications • Pharmacy retail • Textile retail • Wood production • Expansion strategy into CEE markets Dragan Simeunović Education University of Ljubljana, Slovenia Bachelor of Science in Electrical Engineering Date of Birth 11.01.1968 Languages Slovenian, Serbian, English,German, Italian, Polish
Consultant South East EuropeMartina Šuman Experience • Mergers & Acquisitions • Fundraising • Corporate Finance Sector Experience • Textile Industry • Wood Industry Selected M&A Project experience • Start of Greenfield investments in textile industry • Sale of wood processing company Martina Šuman Education University of Sarajevo, Bosnia-Herzegovina and University of Torino, Italy MBA in Finance University of Josip Juraj Strossmayer in Osijek, Croatia Degree in Economics and Business Date of Birth March 5th, 1978 Languages German, English, Italian, Croatian/Bosnian/Serbian
Consultant South East EuropeVelimir Gavrilovic Experience • Mergers & Acquisitions • Privatizations • Financial Planning Sector Experience • Metal packaging industry • Textile industry • Retail • Automotive industry • Petrochemical industry • Bank • Public administration Selected M&A Project experience • Greenfield investment in production of wooden pellets • Greenfield investment in metal packaging production • Greenfield investment in textile production • Retail Greenfield investment (hypermarket) • Brownfield investment in automotive industry Velimir Gavrilovic Education University of Belgrade, Serbia Degree (B.Sc.) in Economics University of HEC Group in Paris, France Degree (Executive Master) in Management and Business Date of Birth July 24, 1976 Languages English, French, Serbian
Wood Processing Construction Wood Processing Austria / Slovenia Austria Austria Austria Mohar Satler Investicije acquired Keko-Varicon d.o.o. from Horizonte Venture Management Electronics Selected References CD INVEST Managing Partner Austria Austria Austria sold sold 25% of Flachdach Vertriebs GmbH acquired ISOLIT GmbH vatron gmbh acquired Breuckmann GmbH to to Kotanyi Holding GmbH 2009 We advised the seller 2009 We advised the buyer 2009 We advised the buyer 2008 We advised the seller Plant Engineering Food Industry Electronics Austria Holzindustrie Stallinger Swiss Timber GmbH was sold to Mayr-Melnhof Timber Group Kaufmann Holding AG was sold to Mayr-Melnhof Timber Group Holzindustrie Stallinger GmbH was sold to Mayr-Melnhof Timber Group 2008 We advised the seller 2008 We advised the seller 2008 We advised the seller 2007 We advised the seller Wood Processing
Austria/Italy Austria / India Siemens AG Österreich sold VA TECH WABAG GmbH to ICICI Venture / VA Tech Wabag India Austria / Slovenia Cargotec / Kalmar acquired Tagros Slovenia Plant Engineering Machinery IT/Media Selected References CD INVEST Managing Partner Finland/Slovenia Austria/Germany Private Investors acquired shares in Sekvenca sold Finland/Slovenia WO&WO Grün GmbH was sold to HOCO 2007 We advised the buyer 2007 We advised the seller 2007 We advised the buyer 2006 We advised the seller Building Structures Austria Austria Austria / Netherlands ÖBB-Personenverkehr AG(Austrian railways)sold Wolfgangseeschifffahrt/Schafbergbahn to Salzburg AG Josef Glöckel GmbH was sold to Rubner Holding AG Dutch Private Investor acquired 50% of Berghaus Voestalpine Mechatronics GmbH acquired HotVision Research GmbH 2006 We advised the buyer 2006 We advised the buyer 2006 We advised the seller 2006 We advised the seller Industrial Vision Tourism Fashion Building Structures
Austria Selected References CD INVEST Managing Partner Austria/USA Austria/France Austria / NL Austria / CEE Finland/Slovenia Schoeller Bleckmann Oilfield Equipmentsold Bafco to the Management eventive Group was sold to Publicis Groupe S.A. AKRON Management Holding GmbH sold shares in a real estate portfolio in CEE to Immofinanz AKRON Management Holding GmbH sold shares in a real estate portfolio inCEE to SBA Doctors’ Pension Fund 2005 We advised the seller 2005 We advised the seller 2005 We advised the seller 2005 We advised the seller Machinery Real Estate Real Estate Event Marketing Austria/USA Austria Austria / Malaysia key solutions Industriebau GmbH(machinery) was bought by GAW Group Binder & Co. AG sold Packaging Systems International to a private Investor ÖBB-Personenverkehr AGsold ÖBB Bodenseeschifffahrt to Vorarlberger Illwerke AG/Kommerzialrat Klaus ASTA Elektrodraht GmbH (copper wires) was sold to Metrod (Malaysia) Berhad 2005 We advised the seller 2005 We advised the seller 2004 We advised the seller 2004 We advised the buyer Machinery Tourism Metal Processing Machinery
Selected References CD INVEST Managing Partner Austria CZ/Germany Austria Austria Finland/Slovenia ČKD Dopravní Systémy (railway cars) was partially bought by Siemens AG VA Tech Elin EBG Motoren (electric drive motors) was sold to TRASYS Inzersdorfer(ready-made food) was bought by Vivatis Holding AG apc interactive solutions ag(multimedia phones) signed a sales contract with Telekom Austria AG 2003 We advised the buyer 2003 We advised the seller 2002 We advised the seller 2001 We advised the buyer Transport Systems Food Industry Traction Telecom Austria/NL Austria Austria/France Germany Polynorm Automotive NV(automobile parts) was bought by voestalpine AG MCE VOEST GmbH & Co (plant engineering) was sold to Andlinger & Company Inc. Microdyn Modulbau GmbH (chemical plant engineering) was sold to 3i VA TECH TMS GmbH (automotive) was sold to GTIE 2001 We advised the seller 2001 We advised the buyer 2001 We advised the seller 2001 We advised the seller Automotive Plant Engineering Plant Engineering Transport Systems
Selected References CD INVEST Managing Partner Austria Austria Austria/US UK/Austria Finland/Slovenia Donau Dampfschifffahrts GmbH (shipping services) was privatised and sold to Land Oberösterreich and Land Niederösterreich VOEST-ALPINE Krems (steel processing) bought Roll Forming Corporation BOSS Manufacturing Ltd. (forklifts) was sold to Industrieholding AG Umdasch boughtAssmann Ladenbau 2001 We advised the seller 2001 We advised the seller 2001 We advised the seller 2000 We advised the buyer Steel Processing Transport Shop Fittings Machinery Austria/US Austria Austria Austria/Italy Binder & Co. AG (machinery) bought Packaging Systems International Öst. Staatsdruckerei GmbH (security printing) was privatised and sold to ECP Euro Capital Partners GmbH Rudolf Maschina HandelsgmbH (food) was sold to AGRANA Beteiligungs-AG AV Digital Tonsysteme(Announcement Systems ) was sold to ECP Euro Capital Partners GmbH 2000 We advised the buyer 2000 We advised the seller 2000 We advised the seller 2000 We advised the seller Food Industry Machinery Printing Audio Systems
Selected References CD INVEST Managing Partner CZ/Belgium Austria Poland/Austria Austria Finland/Slovenia Kelomat HaushaltsgeräteGruber & Kaja KG(cooking pots) was sold to Gebrüder Riess Pivovar Jihlava(brewery) was sold to Brouwerij Martens N. V. The Polish Ministry of Telecommunication sold telecom licenses to Broadnet BV The Management boughtWiener Zeitung 2000 We advised the seller 2000 We advised the buyer 2000 We advised the seller 2000 We advised the seller Metal Products Beverage Industry Media Telecom Austria Germany/US Austria Austria Bankhaus Carl Spängler acquired Dorotheum-Bank Krauss-Maffei Verkehrst. (transportation systems) was sold to FMC Wiener Städtische Versicherung AG acquired a 50% of the Austria Tabak AG Shoping-center Himmelreich in Salzburg A Neo-Renaissance Palace(stock exchange building) was sold to Amisola Immobilien GmbH 1999 We advised the seller 1999 We advised the seller 1999 We advised the seller 1999 We advised the seller Real Estate Transport Systems Finance Real Estate
Selected ReferencesCD INVEST Managing Partner Austria Austria Austria / Slovenia Austria Dachstein Fremdenverkehrs-AG (cable cars) was sold to an Austrian consortium (ÖSAG, ÖBG, Asamer, …) Finland/Slovenia Wiener Städtische Versicherung AG acquired 50% of the Austria Tabak AG „Annen Passage“ in Graz Eisner AG(car retailer) bought ÖFAG Österreichische Fahrzeugbau GmbH Siemens - SGP Verkehrstechnik GmbH formed a joint venture with TVT Maribor d.o.o. 1999 We advised the seller 1998 We advised the buyer 1998 We advised the seller 1998 We advised the buyer Transport Transport Systems Real Estate Automotive Salt Industry Austria/Germany Austria/Germany Austria/CZ Finland/Austria Austria / NL Tampella Corp. (machinery) bought VA Bergtechnik GmbH Österreichische Salinen AG (salt) was sold to an Austrian consortium(Land OÖ, Dr. Androsch,) applied international informatics AG (information technology) bought Seitz GmbH Böhler Hochdrucktechnik GmbH (machinery) bought The centrifuges division of ZVU Chemie a.s. 1998 We advised the seller 1997 We advised the seller 1997 We advised the buyer 1996 We advised the buyer Health Services Machinery Finance Finance Health Services
Selected References CD INVEST Managing Partner Austria Austria/Germany Austria / CEE Austria / CEE VAMED Medizintechnik GmbH (health services) was sold to Fresenius AG Wiener Städtische Versicherung AG acquired 70% of Montan Versicherung Aktiengesellschaft 1996 We advised the seller 1992 We advised the seller Real Estate Finance Salt Industry
Austria Austria Austria Austria Blue Danube Loan Funding GmbH EUR 6.9 bn Securitization platform for the Province of Lower Austria’s Subsidised Housing Loans 2001 - 2008 Development, structuring and implementation of NÖ Landesbeteiligungs- holding GmbH 2004 Development,structuring and implementation of Land NÖ Finanz- und Beteiligungs- Management GmbH 2001/2002 Advisor to the Province of Lower Austria’s Asset and Debt Management Portfolio 2001-2008 Finance Finance Finance Finance Austria Austria Austria Austria Development, structuring and implementation of HYPO Capital Management AG 2006 Development, structuring and implementation of Aurelius Capital Management GmbH 2007 ÖVAG sold 40,8% of NÖ HYPO Bank to Province of Lower Austria 2007 Restructuring of HYPO Investmentbank and NÖ HYPO-Bank 2007/2008 Finance Finance Finance Finance Selected ReferencesCD INVEST Managing Partner
Sales process flow & project costs A highly competitive fee proposal underlines our wish to advise you in this process.
PhaseIII PhaseI PhaseII Sales process flow & project costsProcedure / rough schedule PhaseIV Execution • First contact with potential candidates • Confirmation of interest • Signing of confidentiality agreement • Distribution of information memorandum and procedure letter • Evaluation of alternative opportunities • Creation of Shortlist Preparation • Buying strategy • Industry research • Longlist of potential candidates • Company profile • Confidentiality agreement • Establishing of financial pre-conditions Analysis • Valuation • Planning forecast • Data room request list • Due Diligence coordination • Coordination of legal and audit teams • Transaction structuring • Preparation of non-binding Letters of Intent (LOI) • Questions & Management presentation • Realization of data room • Identification of unclear issues, Red Flags and No-Gos • Application of DD-Findings on company evaluation / business plan Closing • Preparation of binding bid • conducting and coordination of negotiations • ‚Red-file‘ due diligence • Signing of contract • Regulatory clearance 1-2 months 1-2 months 1-3 months 1-4 months
Sales process flow & project costsProject Fee CD Invest/GMA is a company orientated on results, which links its remuneration to successful closures Project fee offer