private equity and recruitment gary tipper palatine private equity ian langley air energi group n.
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Private Equity and Recruitment Gary Tipper, Palatine Private Equity Ian Langley, Air Energi Group. Palatine Private Equity . Independent private equity house, owned and controlled by the Partners Entrepreneurial team with over 50 years private equity experience

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palatine private equity
Palatine Private Equity
  • Independent private equity house, owned and controlled by the Partners
  • Entrepreneurial team with over 50 years private equity experience
  • £100m maiden fund raised in 2007 fully invested in nine deals
  • £150m second Fund now raised and being invested
  • Equity investments from £10m to £25m
  • Offices in Manchester, London and Bristol
  • All deals led by the decision makers
what is private equity
What is Private Equity ?
  • Medium to long term funding in return for an equity stake in a business
  • There are a lot of different private equity firms
    • Different fund sizes
    • Different types of deals
    • Different returns expectations
  • Typically private equity investors look at an investment period of 3 to 5 years
  • A shareholder relationship not just a source of funding
what can private equity funding do
What can private equity funding do ?
  • Management buyouts
  • Shareholder restructurings
  • Cash out / equity release
  • Fund acquisitions / buy and build strategy
  • Growth capital
why recruitment staffing
Why recruitment / staffing ?
  • Ability to dominate a sector and/or functional niche
  • Control of scarce resource
  • Potential for rapid organic growth
  • Drive scale
  • Sector and sub sector consolidation, acquisitions, buy and builds
  • International expansion
  • Low capex requirements
air energi group
Air Energi Group
  • AEG provides expertise to the energy industries. This includes contract, project and staff hire teams and individual engineers and technical persons together with full global compliance and logistical support services.
  • AEG places around 2,500 consultants/contractors on both upstream and downstream energy projects
  • Palatine backed the management buyout in August 2009
  • Ian Langley, Chairman, led the deal
  • Provided an exit for some legacy shareholders
  • Enables other legacy share holders to realise some value from the business
air energi group post deal
Air Energi Group – Post Deal
  • Appointed a independent Non Executive Director
  • Completed two acquisitions – PMG and Indonesia
  • Refinanced with HSBC $50M global facility
  • Broadened the global operating network – 25 offices
  • Grew profitability to more than £1-m at exti from £5m at entry
  • Completed a secondary buyout with LGV in October 2012
  • An overall return of 3x cash in just over 3 years for PE and Legacy Shareholders
  • New Management shareholders saw a 10x+ return
what do we look for
What do we look for ?
  • Quality management team, strength in depth
  • Well thought through and deliverable business plan
  • Businesses operating in a niche (functional or sector)
  • Scalable business
  • Good margins
  • Strong pipeline, good visibility of earnings
be prepared
Be prepared
  • Get your business in good shape for a transaction
  • Legal, compliance, paperwork in order
    • Banking
    • Insurance
    • Contracts
    • Tax
    • Alljurisdictions
  • Financials
    • P&L
    • Balance Sheet
    • Ebitda
    • Margins
    • Cashflows
    • Cost structure
    • Geographies
be prepared1
Be prepared
  • Get good advisors
    • Corporate Finance Advisor (someone who understands your sector)
    • Accountant / Tax / Audit
    • Lawyer
    • People that you trust
  • Due diligence
    • Financial
    • Legal
    • Management assessment
    • Commercial/market
  • Deals and due diligence takes time
    • Meetings
    • Management time / long hours
    • There will be bumps along the way
be prepared2
Be prepared
  • Do your own due diligence on potential funders
    • Speak to management teams they have backed
    • Speak to other advisors that have worked with them
  • Choosing the right funder is crucial
    • You’re going to work together for 3-5 years
    • Chemistry needs to work
summary
Summary
  • Private equity can be a good source of funding to accelerate growth
  • It is not something to be rushed into, consider properly and assess your options
  • Have a deliverable business plan
  • Be clear about what the funding is for and how it will be used
  • Be prepared, have the business ready
  • Do your own homework on potential funders
slide13

Gary Tipper

Managing Partner

0161 214 4730

gary.tipper@palatinepe.com

Ian Langley

Chairman

0870 112 9444

ilangley@airenergi.com