141023_Livsverk_til_salgs_Synergos_Leif_Larsen
Synergos «Livsverk til salgs» Eierskiftealliansen i Oslofjorden Vest – Kongsberg Næringsforum – Notodden Utvikling Kongsberg, Torsdag 23. oktober, 2014 Agenda 1. Hvem er Synergos? 2. Viktige vurderinger før oppstart av salg/partnersøk prosess 3. Optimal salgsprosess – våre erfaringer Vedlegg Litt om Synergos og Translink 2 Synergos – Spesialist innen salg og strategiske partnersøk Introduksjon 1 Etablert i 2009 2 Fokus på salg av bedrifter og strategiske partnersøk 1) 3 Over 20 industrieksperter fra 12 ulike industrier 4 5 prosjektledere med både industriell og finansiell erfaring 5 Våre prosjektteam er skreddersydd til hvert prosjekt og inkluderer både M&A og industrieksperter 6 Eksklusiv norsk representant for Translink Corporate Finance – en internasjonal organisasjon av rådgivere representert i over 30 land Synergos kombinerer industriell og finansiell erfaring og kunnskap 1) Samarbeider med Infima på kjøpsoppdrag 3 Salg- /partnersøksprosessen - Viktig ved oppstart å definere motiv, mål og suksessfaktorer Definer motiv og mål for salgs- /partnersøkprosessen 1 2 3 Høyest mulig pris • Generasjonsskifte, ønske om å cashe inn, porteføljestyring,… Hva er nøkkelfaktorene for suksess (KSF’s *)? 1 2 Finne den beste partneren/kjøperen • Strategisk industriell begrunnelse • Anerkjent selskap med solide, internasjonale referanser • Internasjonalt markedsapparat • Kompletterende produkter • Kompleterende kompetanse • ….. Gjennomføre en effektiv prosess • Representere Norgesvinduet i forhandlingsprosessen • Opprettholde konfidensialitet • Et søkeapparat som klarer å definere de mest attraktive kjøperne/partnerne Forstå hvordan potensielle kjøpere tenker og handler • Fokus på motiver, prosesser, synergier og strategisk rasjonale • Industriell erfaring og kunnskap er avgjørende 3 Evne til å kommunisere med kjøperne 4 Forstå de viktigste salgsargumentene • Kommunikasjon med potensielle kjøpere på et høyt industrielt nivå • Proaktiv salgsprosess med rådgivere som forstår selskapet, industrien og markedssegmentene • Avlaste ledelsen - ‘business as usual’ • Opprettholde momentum i prosessen Grundig søk etter potensielle kjøpere 5 Dra nytte av erfaring i prosess og forhandlinger • Erfarent rådgiverteam har erfaring og kan optimalisere budprosess og forhandlinger *) KSF – Kritiske suksessfaktorer 4 Hvordan gjennomføre en optimal salg- /partnersøksprosess? Oversikt 5 Optimalisere SPA og pris 1 Solide forberedelser Forhandlinger Forstå eier- og selskapsstrategi Optimalisere SPA og pris Definere mål og etablere en strategi Closing Definere kjøperkategorier Etablere long list 4 Velge kjøpere & due diligence Industry expertise Klient & Worldwide presence Rådgiver Evaluere kjøpere; industriell match, tilbud, 2 Proaktiv markedsføringsprosess Definere nøkkelattraksjoner Etablere markedsføringsmateriale (fokus på fremtiden, ikke historien) transaksjonsmodell, kulturell match, rykte, etc. Management-presentasjon Velge motiverte, strategiske og finansielle sterke kjøpere Etablere short list Koordinere due-diligence De beste kjøperne har ikke planlagt et kjøp! 3 Optimalisere budprosessen Optimalisere konkurransen mellom ulike budgivere Definer kjøperens motiver, synergier og strategisk rasjonale 5 “Proof of concept”; M7 Offshore – 11 bud fra 8 land og 40% høyere pris enn forventet! Utfall Prosess 1 foretrukket kjøper Long list – 300 targets 15 land 5 1 Optimalisere SPA og pris Gode forberedelser 1 40% høyere pris enn forventet 2 Utenlandske kjøpere med betydelig høyere bud enn de norske! 2 4 Proaktiv markedsføringsprosess Valg av kjøpere og due diligence 3 3 kjøpere i due diligence February 2013 Kontakte kjøpere Optimalisere budprosessen 20 management møter 11 bud fra 8 land Norge, Danmark, Finland, Sverige, Belgia, Kina, UK og USA Markedsføring Mgmt presentasjon Indikative bud September 2013 Evaluere budgivere Due diligence SPA signering Closing 6 Kontaktdetaljer – Synergos og Translink Corporate Finance Oversikt Translink Corporate Finance Synergos AS Leif Larsen Partner Lysaker Torg 8 E-post: [email protected] 1366 Lysaker Tlf: +47 934 15 933 Org. no.: 994 602 497 Web: www.synergos.no Argentina Austria Benelux Brazil China Colombia Translink-BA M&A Translink Auriga Translink VOF Translink-BA M&A Translink China Translink-BA M&A San Martin 1143 - piso 8 Dominicusweg 3 Stationsweg 142 Suite 1112-1116 Calle 70A No. 11-83 1004 Buenos Aires A – 5020 Salzburg 5807 AD Oostrum Rua Funchal 263 conj. 94 - Vila Olimpia, 04551-060 Sao Paolo 8 Century Blvd. Shanghai Bogotá - Columbia Office: 54 11 4314 5003 Office 43 662 62 79 38 Office 31 478 511010 Office 55 11 3846-8880 Office 86-21-50120990 Office 571 2110352 Denmark Finland France Germany Hungary India Translink Schroder Part. Translink Corporate Finance Broadmark Translink Reallizze GmbH & Co. Translink Translink Kongevejen 153 Korkeavuorenkatu 22 D 20 avenue Kléber Leher Heerstr. 28 Budapest H-1054 70 Nehru Place DK 2830 Virum 00130 Helsinki 75116 Paris 28359 Bremen Szabadsag ter 7 New Delhi 110 019 Office 45 43 58 33 00 Office +358207432790 Office 33145000001 Office 49 421 204 1132 Office 36 1 474 8335 Office 91 11 3081 5000 Italy Japan Mexico Uruguay Norway Peru Translink Strempel Translink Japan Translink-BA M&A Translink-BA M&A Translink Synergos Translink-BA M&A Via Quintino Sella, 4 1-12-9-603, Kojimachi California 303 esq Sta Margari Boulevard Espana 2825 Lysaker torg 8 Av. Rep de Panama 3531, Of 801 20121 Milano Chiyoda-ku, Tokyo 102-0093 (03100) Col Insurgentes San Borja Montevideo CP 11300 1366 Lysaker Lima 27 Office 39 02 8699 7475 Office 81 80 5172 5984 Poland Portugal Russia South Africa Spain Sweden Translink Poland Translink Gesventure Translink Russia Translink South Africa Translink-Alta Translink-Anecta UI. Bagno 2 C 241m Rua 7 de Junho de 1759, nº1 42, Bolshaya Tatarskaya str. 115184 Cape Town Avda. Diagonal 399 Västra Storgatan 12 Warwaw, Poland 2760-110 Caxias Moscow, Russia South Africa 08008 Barcelona S-553 15 Jönköping Office 48 22 464 85 15 Office 351 214 416 460 Office 7 495 545 44 30 Office 27 73 7407871 Office 34 93 238 7230 Office 46 36 12 66 40 Switzerland Turkey Ukraine United Kingdom United States Translink Corporate Finance AG Translink Albars Consulting Euxin Translink Translink Fusion International KILDARE CAPITAL, INC. Alte Landstrasse 39 Mehmet Akif Cad. Turunçlu Krasnoarmeyskaya Street, 72A 56 King Street One Penn Plaza, 36th Floor 8700 Küsnacht Sok. No 25 D 2 Mesa Plaza Office 45, 17th Floor Leicester, LE1 6RX New York, NY 10119 Office 41 44 269 7000 A.Nafiz Gürman Mah. Merter - Güngören Kyiv 03680 Office 44 116 2858812 US Office 47 93415933 34173 Istanbul - Turkey 7 Vedlegg 8 Synergos - tjenester Våre tjenester – Salg/partnersøk Internasjonalt nettverk Translink Corporate Finance Avlaste ledelsen - opprettholde business-as-usual Solid erfaring fra forhandlinger Verdivurdering Unik tilnærming Industriell erfaring Internasjonalt nettverk God dokumentasjon og proaktiv markedsføring Prosjektledelse- og koordinering i salgsprosessen Industriell erfaring via egne bransjeeksperter Unik og dokumentert gjennomføringsmetode som gir maksimal pris 9 Synergos og Translink har en annerledes tilnærming! Våre differensierende faktorer 1 Unikt system for å lokalisere potensielle kjøpere – Translink Corporate Finance • Tilstedeværelse i mer enn 30 land; Europa, USA, Sør-Amerika, Afrika, Asia • Tilgjengelig og kommitert lokalt søkeapparat 2 Industriell erfaring på teamet • Prosjektledere innehar både industriell ledererfaring og finansiell kompetanse (8 stk. i Synergos) 3 Bransjeerfaring på teamet • Industrieksperter med bred erfaring fra selskapet’s forretningsområder (I dag > 20 stk, ca. halvparten innen olje&gass) • Gir kredibilitet i forhold til å hjelpe potensielle kjøpere med å forstå bransjen 4 Bevist salg- /partnersøk konsept • Nøkkelelementer er: solide forberedelser, godt internasjonalt søkeapparat, industriell logikk, konkurranseelement i budprosess og forhandlingserfaring • Individuell tilnærming mot hver kjøper 5 Dedikert og troverdig rådgivningsteam - skreddersydd til dette prosjektet • Team med betydelig erfaring fra M&A • En kompensasjonsmodell som sikrer en felles agenda • Setter kundens interesse først – gode referanser 10 Infima og Synergos samarbeider for å gi våre kunder nødvendig spisskompetanse innen M&A Vi kombinerer industriell og finansiell kompetanse…… …..og vi satser på spisskompetanse innen både kjøp og salg Felles prosjektledere • • • Solid industriell ledererfaring Tung transaksjonserfaring Industriell og finansiell kompetanse Coaching og kvalitetssikring Felles bransjespesialister • • • Industriell ledererfaring Operativ bransjeerfaring Relevant kontaktnett Synergos er spesialist på salg av bedrifter og partnersøk Infima er spesialist på oppkjøpsprosesser Egenutviklede verktøy og metoder Samarbeidspartnere • • Funksjonell spisskompetanse Ledende innen sine fagfelt 11 Prosjektledere Prosjektledere Leif Larsen Rolf Straume Infima Knut Helgesen Yngvar Christophersen Analyse Jon Elde Sven T. Ottesen Annette M. Justad Bjørnar Misund Hernes Navn Utdannelse Erfaring MSc Mechanical Engineering, NTH MBA, Henley Business School MSc Business & Administration, NHH AMP, Harvard Business School MSc, Business & Administration, BI MBA Northern Illinois University MSc MIT AMP, Harvard Business School MBA Manchester Business School BSc University of Southern California MSc Business & Administration, NHH MSc Tech. Mgmt. MIT/NTH and Chem. Eng, NTH BSc Business & Administration, Norwegian School of Management Orkla (16 years): SVP Business Dev. Orkla Food Ingredients, sales and marketing dir. in Denofa and Idun Industri Sales manager Bjørge Offshore, cost and planning engineer Saga Petroleum 10 years M&A experience from Orkla Corp. Dev. and Synergos 17 years of senior management experience; Statoil, Helicopter Service, Orkla, Ringnes (CEO) 16 years experience in finance; Corporate Finance and Private Equity Broad M&A experience 15 years of management experience in Orkla Media; Corporate Development, Financial Director and Dir. Digital Media Additional experience from Boston Corporate and Aratos 25 years experience in the financial sector Director at DnB NOR and various positions in Citibank, SEB, Union Bank and Vika Bank Extensive experience from the banking industry 11 years of CFO experience including restructuring, reorganization, strategy development and M&A from: Arcus-Gruppen, Evry, GTB Invest, Ringnes 7 years of M&A experience from KPMG Corporate Finance and Orkla ASA 15 years experience in management, CEO of Diners Club Norway and head of product development at Motorola USA/UK 5 years experience in acquisition/cons olidation processes in Eastern Europe 30 years experience from the maritime and chemical industry SVP NCC, VP Yara, CEO EMS, Director Awilco LNG and PGS, Chairman AMS and Store Norske 2 years experience from investment banking Worked as an analyst in the fields of Equity Research and Corporate Finance in Handelsbanken Capital Markets and Nordic Securities 12 Industrieksperter (olje & gass) Industrieksperter Per Bjørn Habbestad Oil service Jan Stensrud Umbilicals & subsea Bjørn Hånde Rotating machinery Jan Strøm Subsea & well services Arne Roald Valves & connectors Anders Wittemann E&P BSc Electronic Engineering, Stavanger College of Engineering MSc Petroleum Engineering, NTNU MBA INSEAD MSc Business & Administration, NHH MSc, University of Glasgow MSc Naval Architecture and Marine Eng., NTNU INSEAD PhD and MSc Mechanical Eng, NTH MSc Stanford University BSc Marine Technology, University of Stavanger 25 years experience in the oil service business CEO at Solberg & Andersen, Head of business development and sales director at Emerson Process Management 20 years experience in oil & gas Former partner Derrick Petroleum Services and Rystad Energy Associate Principal at McKinsey & Company 30 years experience in the oil service industry Former CEO in Apply Group and Sea Production Management, Vice President at Umoe Oil & Gas and Aibel Today own advisory company in oil & gas 30 years experience in the oil & gas industry CTO in OER and OTG Energy, VP Operations at KOGAS, consultant and project manager at Veritas and Norwegian Contractors 29 years experience in the oil & gas-, submarine power cable-, and the offshore renewable industries 8 years of international experience from France, Malaysia, Germany and Italy 20 years experience in the oil & gas industry Consultant and specialist in rotating machinery; turbines, compressors and pumps Technical director at GE Aero Energy 20 years experience in oilservice CEO Amek Group Various leadership pos. subsea and marine oper. BP, Statoil, Aker and GE Today Director in Oil Spill Resp.Ltd for Subsea Well Intervention Christian Behrens Oil service Navn Utdannelse Erfaring 13 Industrieksperter, forts. Industrieksperter Petter Eiken Construction Ivar Lossius Construction Roald Riis Construction Terje Hals Construction Wilhelm Rosenlund Waste Ole Petter Krabberød Seafood Kalle Tysnes Northern Norway Navn MSc Civil Engineering, NTH MSc Mechanical Engineering, NTH Management course, IMD 30 years experience from the construction industry Previous positions include: CEO Skanska Nordics, EVP Veidekke and Project Engineer Selmer Today engaged in own consultancy services and chairman/board member 30 years experience from various industries President & CEO at Protan, Vice President in Navia Aviation Systems, Vice President and CEO for Production & Logistics at Pronova Biopolymer Currently senior consultant at SAM Headhunting Utdannelse Experience 30 years experience in civil construction Various management positions in Optimera group, last as responsible for business development and acquisitions MSc Business & Admin., NHH BSc, Pacific Lutheran University, USA Auditor, Agder regional college MSc Business & Administration, NHH MSc Management, Norwegian School of Management 20 years experience from various industries Branch manager, VVS at Bravida Norge CEO at Aug. Larsen CFO at Vital Skade Currently engaged in own activities 20 years experience in waste / environment CEO in several companies of Veolia Environment Group (Norwegian Recycling) 19962010, Rolf Bakke AS (Metallco AS), Alme (Hafslund Metall) and Aluminiumssmelteriet 17 years experience in fisheries and aquaculture, of which 10 years as a leader in Chile and UK CEO of Norwegian Royal Salmon, Stolt Seafarm and Cultor-Ewos Adviser to the Nicaraguan Minister of Fisheries 20 years management experience CEO over the last 14 years in regional investment company Helgeland AS with focus on oil & gas, maritime and aquaculture Lecturer at the University of Nordland 14 Noen referanser – Olje & gass* acquired acquired acquired acquired acquired acquired Synergos team member acted as an advisor to the seller Acted as an advisor to the seller Acted as an advisor to the buyer Acted as an advisor to the seller Acted as an advisor to the seller Acted as an advisor to the seller Various E&P companies acquired share swap acquired acquired acquired SDØE Acted as an advisor to the buyer Acted as an advisor to the buyer Acted as an advisor to the buyer Acted as an advisor to the seller Acted as an advisor to the seller *) Synergos & Infima 15 Noen referanser – Bygg og anlegg* acquired acquired Acted as an advisor to the seller Acted as an advisor to the buyer Private investors MBI acquired acquired Acted as an advisor to the buyer Acted as an advisor to the buyer acquired acquired acquired (Finland) sold to to Freightcar Components International Oy Acted as an advisor to the seller Acted as an advisor to the buyer Acted as an advisor to the seller Acted as an advisor to the seller Acted as an advisor to the seller acquired acquired acquired acquired A.B. Movies, Chadha Infrastructure Developers, Jessamine Fresheners ASPL Software Developers, VNS Software Developers and Hacienda Infrastructure Bygg Partner i Södertälje Acted as an advisor to the buyer Acted as an advisor to the buyer Acted as an advisor to the seller Acted as an advisor to the seller (Finland) sold *) Synergos & Translink 16 Noen referanser – Andre industrier* acquired acquired acquired Acted as an advisor to the buyer Acted as an advisor to the buyer Acted as an advisor to the buyer acquired Acted as an advisor to the buyer acquired acquired merged with Acted as an advisor to the buyer Acted as an advisor to the buyer acquired acquired Acted as an advisor to the seller Acted as an advisor to the buyer divested Acted as an advisor to the seller acquired Acted as an advisor to the seller acquired acquired acquired acquired Acted as an advisor to the seller Acted as an advisor to the buyer Acted as an advisor to the seller acquired acquired acquired Acted as an advisor to the buyer acquired Acted as an advisor to the buyer acquired Acted as an advisor to the buyer divested Bakeline AS Acted as an advisor to the buyer Acted as an advisor to the buyer Acted as an advisor to the seller Acted as an advisor to the buyer Acted as an advisor to the seller *) Synergos & Infima 17 Synergos er eksklusiv norsk representant for Translink Corporate Finance – en internasjonal organisasjon av rådgivere representert i over 30 land Oversikt Nordic Transactions – Translink - 2013 Grunnlagt 1972 i Zürich, Sveits Globalt nettverk med lokal tilhørighet (30 kontorer) Forpliktende samarbeid Over 200 rådgivere 50 – 100 transaksjoner/år Mellomstore transaksjoner, typisk € 5200 mill Financial Advisor PWC SEB IMAP KPMG E&Y Translink Clairfield International Nordea Carnegie Danske Bank Rothschild M&A International Handelsbanken Capital Markets Citi Swedbank Deloitte 2013 Rank 2012 Rank # of Deals 1 2 3 4 5 6 7 8 9 9 11 11 13 14 14 14 1 2 3 4 9 15 12 4 6 17 15 10 11 20 23 14 63 37 32 25 23 19 17 14 13 13 12 12 10 9 9 9 Argentina, Austria, Benelux, Brazil, China, Colombia, Denmark, Finland, France, Germany, Hungary, India, Ireland, Italy, Japan, Mexico, Middle East, Norway, Peru, Poland, Portugal, South Africa, Spain, Sweden, Switzerland, Turkey, UK, Ukraine, Uruguay, USA 18 Utvalgte transaksjoner - Translink acquired acquired acquired acquired acquired acquired acquired Korea | Italy Norway | Finland Sweden | Finland Italy | South Africa Finland | France Japan | Italy Austria | Denmark Acted as an advisor to the seller Acted as an advisor to the seller Acted as an advisor to the seller Acted as an advisor to the buyer Acted as an advisor to the seller Acted as an advisor to the seller Acted as an advisor to the seller Sold significant majority stake to Fund raising from consortium led by acquired acquired JV formation with Sold its software solutions business to Parent company sold stake to Japan | Finland India | Japan India | France India | UK India | UK India | Japan India | Korea Acted as an advisor to the seller Acted as an advisor to the seller Acted as an advisor to the buyer Acted as an advisor to the seller Acted as an advisor to the buyer Acted as an advisor to the seller Acted as an advisor to the buyer acquired Has entered into Joint Venture with acquired acquired acquired acquired acquired Germany | Denmark Germany | Brazil Germany | Dernmark Finland | Russia Germany | Brazil Germany | Switzerland Italy | Japan Acted as an advisor to the seller Acted as an advisor to the buyer Acted as an advisor to the seller Acted as an advisor to the seller Acted as an advisor to the buyer Acted as an advisor to the buyer Acted as an advisor to the seller 19
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