1. No category

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