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10Th Annual International M&A Award Winners
10TH ANNUAL INTERNATIONAL M&A AWARD WINNERS I. SECTOR DEAL OF THE YEAR FINANCIALS DEAL OF THE YEAR Acquisition of Silexx Financial Systems by Chicago Board Options Exchange Benchmark International Silexx Chicago Board Options Exchange Broad and Cassel Jenner and Block HEALTHCARE/LIFE SCIENCES DEAL OF THE YEAR Acquisition of Robotics Developer KB Medical by Globus Medical Choate Hall & Stewart LLP Wyrick Robbins Yates & Ponton LLP MATERIALS DEAL OF THE YEAR Restructuring of ESML Dentons US LLP Alvarez & Marsal Ducera Partners LLC Bailey Duquette P.C B. Riley FBR, Inc. Guggenheim Securities, LLC Quinn Emanuel White & Case LLP Baker McKenzie Independent CONSUMER DISCRETIONARY DEAL OF THE YEAR Investment in Ganni by L Catterton L Catterton ClearWater International Tikehau IM Ganni PwC Lundgrens CONSUMER STAPLES DEAL OF THE YEAR Sale of Buddy’s Kitchen to Premium Brands Holdings Lazard Middle Market Premium Brands Holdings Buddy's Kitchen SK Foods Fredrikson & Byron Bryan & Company CliftonLarsonAllen PROFESSIONAL SERVICES (B-TO-B) DEAL OF THE YEAR Acquisition of CEC Controls Company, Inc. by Wood Group Generational Equity CEC Controls Copmany Inc. John Wood Group plc Generational Capital Markets, Inc. Jones Day Howard and Howard Baker Tilly ENERGY DEAL OF THE YEAR Restructuring of Ocean Rig Evercore AlixPartners Ocean Rig Milbank, Tweed, Hadley & McCloy LLP Maples and Calder Orrick, Herrington & Sutcliffe LLP Evercore Partners International LLP Ogier Sidley Austin LLP Kalo Advisors 1 INFORMATION TECHNOLOGY DEAL OF THE YEAR Acquisiton of Utimaco by EQT Raymond James EQT INDUSTRIALS DEAL OF THE YEAR Acquisition Cooper & Turner by Watermill Group The Watermill Group Mazars LLP Mincoffs Solicitors LLP Grant Thornton UK LLP K&L Gates TELECOMMUNICATION SERVICES DEAL OF THE YEAR Sale of Vector Software, Inc. -
Including League Tables of Financial Advisors
An Acuris Company Finding the opportunities in mergers and acquisitions Global & Regional M&A Report 2019 Including League Tables of Financial Advisors mergermarket.com An Acuris Company Content Overview 03 Global 04 Global Private Equity 09 Europe 14 US 19 Latin America 24 Asia Pacific (excl. Japan) 29 Japan 34 Middle East & Africa 39 M&A and PE League Tables 44 Criteria & Contacts 81 mergermarket.com Mergermarket Global & Regional Global Overview 3 M&A Report 2019 Global Overview Regional M&A Comparison North America USD 1.69tn 1.5% vs. 2018 Inbound USD 295.8bn 24.4% Outbound USD 335.3bn -2.9% PMB USD 264.4bn 2.2x Latin America USD 85.9bn 12.5% vs. 2018 Inbound USD 56.9bn 61.5% Outbound USD 8.9bn 46.9% EMU USD 30.6bn 37.4% 23.1% Europe USD 770.5bn -21.9% vs. 2018 50.8% 2.3% Inbound USD 316.5bn -30.3% Outbound USD 272.1bn 28.3% PMB USD 163.6bn 8.9% MEA USD 141.2bn 102% vs. 2018 Inbound USD 49.2bn 29% Outbound USD 22.3bn -15.3% Ind. & Chem. USD 72.5bn 5.2x 4.2% 17% 2.6% APAC (ex. Japan) USD 565.3bn -22.5% vs. 2018 Inbound USD 105.7bn -14.8% Outbound USD 98.9bn -24.5% Ind. & Chem. USD 111.9bn -5.3% Japan USD 75.4bn 59.5% vs. 2018 Inbound USD 12.4bn 88.7% Global M&A USD 3.33tn -6.9% vs. 2018 Outbound USD 98.8bn -43.6% Technology USD 21.5bn 2.8x Cross-border USD 1.27tn -6.2% vs. -
Meet Our Speakers
MEET OUR SPEAKERS JEREMY BERCHEM Appleby Jeremy Berchem is a group partner and Group Head within the Corporate department in Guernsey. He joined Appleby as counsel in October 2012 having previously worked for another offshore law firm in the Channel Islands since 2006. Prior to this, Jeremy worked in the banking departments of Travers Smith in London and Dickinson Dees in Newcastle. Jeremy has extensive experience of all areas of banking and finance work including advising both lenders and borrowers in relation to all aspects of banking, property finance and asset finance transactions. He also advises on the issuance of bonds and other debt instruments and their listing on the TISE, the sale and purchase of companies, corporate governance matters and the restructuring of corporate and debt structures. In addition, he has a broad corporate and commercial practice and advises on general corporate matters. Chambers UK 2016 recognise Jeremy for being a notable practitioner. Legal 500 UK 2016 praise Jeremy as an "excellent practice head" who leads a team that are "experienced, efficient and sophisticated." IFLR1000 named Jeremy as a ´Leading Lawyer´ in the 2016 edition for his Corporate and M&A work. STEVE BERRY Macquarie Group Limited Steve Berry is a Managing Director in the London office of the Fund Finance team, part of the Specialised Investment Solutions division. Steve is responsible for driving the expansion of Macquarie’s Fund Finance capabilities in Europe, focusing on opportunities across private equity and private debt funds. Steve has over twenty years of experience in structured finance in origination, structuring and sales capacities across sell-side institutions including Investec, Lloyds and Deutsche Bank. -
A Primer for Today's Secondary Private Equity Market
A Primer for Today’s Secondary Private Equity Market STRATEGIC PARTNERS FUND SOLUTIONS, FALL 2017 VERDUN PERRY, SENIOR MANAGING DIRECTOR AND CO-HEAD OF STRATEGIC PARTNERS JULIE CHANG, ASSOCIATE, STRATEGIC PARTNERS Unless otherwise noted, all information presented herein is the opinion of Strategic Partners based upon market observations. There can be no assurance market trends or conditions will continue. A Primer for Today’s Secondary Private Equity Market The secondary market began to emerge as early as the 1980s. Activity remained muted until the mid-2000s, when a confluence of factors began to drive increasing Summary volume. Since then, secondary private equity has matured from a derivative asset class largely driven by distress and As it has grown and matured over the past two decades, short term market volatility, to a broader, institutionalized secondary private equity has shifted away from a niche market where seller and buyer types now include every market characterized by distressed sellers and significant investor category. Today, more secondary funds are in discounts to a functional and active marketplace with market and more capital is being sought than at any point increasingly sophisticated participants. This primer in recent history.1 reviews the history of the secondary market, answers some of the questions investors may be asking today and Secondary market activity is influenced by public market considers how the secondary market will continue to dynamics, corresponding investor sentiment and the evolve going forward. Specifically, it addresses concerns availability of primary private equity interests to market. about increased competition, “full” pricing and a perceived Primary private equity fundraising tends to increase with supply and demand imbalance in the secondary market. -
'Musical Chairs' Q2 2021
‘Musical Chairs’ Q2 2021 CREDIT P. 2–6 | INVESTMENT BANKING P. 7–11 | PRIVATE EQUITY P. 12–15 EUROPEAN CREDIT MOVES Finance team and previously also in the bank’s Financial Sponsors Credit Risk team. Luke Lemon, who joined CREDIT: BANKS Citi from Lloyds’s Leveraged Finance Capital Markets team earlier this year, is also a member of the new ABN AMRO has promoted Vi Davda to Head of DCM – portfolio group. UK, part of its efforts to expand its business across UK FIG and Corporate clients. Davda’s previous position Citi has promoted Samad Sirohey to Head of Debt at the bank was Head of DCM FIG. Financing – CEEMEA from his previous role as Head of DCM – CEEMEA. Sirohey will continue to report to Will CaixaBank has hired Fernando Cuesta as Head of Weaver, Head of DCM – EMEA. Iman Abdel Khalek, DCM, based in Madrid. Cuesta will work alongside the Head of DCM – MENA and Tommaso Ponsele, MD in Head of Syndicate Lorenz Altenburg, and both he and the CEEMEA Capital Markets team, will become Co- Altenburg will report to Eugenio Tubio, Head of DCM & Heads of DCM – CEEMEA and report to Sirohey and FICC Sales. Cuesta was previously an MD focusing on Weaver. The bank has also promoted Zain Zaidi to Long-Term Funding and Treasury at Bankia in Madrid Head of Loans – CEEMEA from his role as an MD in and replaces MD Ainhoa Landa, who is transferring to the Loans team. Zaidi will continue to report to Paul the corporate banking division of CaixaBank to focus Gibbs and Toby Ali, Co-Heads of EMEA Loans & on TMT, Commodities & Services. -
2015 Financial Forum
2015 FINANCIAL FORUM JW MARRIOTT DESERT SPRINGS, PALM DESERT, CA May 17-19, 2015 REGISTRATION LIST AS OF 05/15/2015 First Name Middle Name Last Name DesignationCompany Title Guests Anju E. Abraham CIBC World Markets Corp. Director Ali Agha SunTrust Robinson Humphrey Managing Director Michael George Agrimis MUFG - Union Bank Vice President Sarah Elizabeth Akers Wells Fargo Securities Senior Analyst Carlos Aldazabal TECO Peoples Gas Director, Regulatory Affairs Susan E. Allen UIL Holdings Corp. Vice President, Investor Relations Robert M. Allessio Southern Connecticut Gas Company President & CEO Jose A. Almonte Legal & General Investment Management America Senior Research Analyst Vincent L Ammann Jr. WGL Holdings, Inc. Senior Vice President & CFO Jowell Amores Magellan Asset Management Analyst David H. Anderson NW Natural Executive Vice President & COO Ann Anthony , CTP South Jersey Industries, Inc. Treasurer Christopher Minner John Apgar II Balyasny Asset Management Analyst David Arcaro Morgan Stanley Equity Analyst Anna M. Armendariz Integrys Energy Group Investor Relations Analyst Dennis V. Arriola Southern California Gas Company President & CEO Winsor H. Aylesworth Hennessy Funds Senior Vice President & Portfolio Manager Jeff Bagnoli BNY Mellon Capital Markets, LLC Vice President Mark Barnett Morningstar, Inc. Equity Analyst Nancy R. Barwig JPMorgan Chase Bank, N.A. Executive Director Paul Nicksic Alexander Basse Wells Fargo Securities Director Mike Bates Robert W. Baird & Company Inc. Analyst Kelly A. Batte American Gas Association Membership & Meetings Specialist Kenneth J. Bauer JPMorgan Chase & Co. Senior Vice President David P. Bauer National Fuel Gas Company Treasurer & PFO Kristin Bauer Philippe Beard Fitch Ratings Director, Corporate Finance Robert F. Beard UGI Utilities, Inc. President & CEO Bradley P. -
Snapshot of Notable Global CFO Moves and Appointments
Snapshot of notable global CFO moves and appointments September 2016 For the latest EMEA, Americas and Asia Pacific moves across: Accounting Audit Tax Treasury Snapshot of notable global CFO moves and appointments Page 1 / 3 Next update due: January 2017 People Moves FS EMEA Scott Kennedy, former CFO, Corporate Risk and Andrew Monkhouse joins Lockton as CFO - Broking at Willis Towers Watson, becomes the CFO designate for UK and international businesses of Jean-Christophe Menioux, former Head Global Line and Executive Director at DJI Holdings plc. Lockton. of Business Life and Savings at AXA Global Life, joins Blair Cawood joins Duet as Head of Fund Kieran O'Keeffe has been appointed by LV= as AXA Investment Managers as General Secretary Accounting from Castle Hill Asset Management. Finance Director, General Insurance. O'Keeffe joins and CFO. LV= from The Co-operative Group where he was Gavin Manson, former Finance Director at Thomas Adrian Keen, the former CFO of Anesco, joins CFO, General Insurance. Cook, joins Electra Private Equity Plc as its new CFO. Alpha as its CFO. Graham Jackson, former Head of Group Reporting Kevin Acton joins Gresham House as Finance Patrick Flaton, joins Avignon Capital as its new (Interim) at Nationwide Building Society, is now the Director from Oaktree Capital. CFOO, having been a Managing Partner and Group CFO at Mediterranean Bank. CFOO for several private equity firms over the last Ramesh Parmar, former Chief of Staff - Group Andrew Jones was appointed by NewDay as Head 12 years. Digital Banking and Group Transformation / of Finance Change. NewDay is one of the largest Change at Lloyds Banking Group, is the new CFO - Francesca Hampton joins Bank of Cyprus UK as and fastest growing credit card issuers in the UK. -
Ravi Mehrotra Joins Evercore ISI Research Team
Ravi Mehrotra Joins Evercore ISI Research Team NEW YORK, January 7, 2019 – Evercore (NYSE:EVR) announced today that Ravi Mehrotra has joined Evercore ISI’s Healthcare Research team as a Senior Managing Director. Dr. Mehrotra joins Senior Analysts Umer Raffat and Josh Schimmer, enabling continued expansion of coverage of the Biopharma sector. Dr. Mehrotra brings over two decades of Healthcare equity research and investment banking experience to the Evercore ISI platform. He was most recently a partner at MTS Health Partners, and prior to that he spent 11 years at Credit Suisse as an Analyst and head of their global Biotechnology research team. During his time at Credit Suisse, Dr. Mehrotra was ranked the number one Biotechnology Analyst in both Institutional Investor and Extel surveys. Prior to Credit Suisse, Dr. Mehrotra was Head of European Biotechnology Equity Research at SG Cowen and a Pharmaceuticals Equity Analyst at Deutsche Bank. Marc Harris, Evercore ISI's Director of Research, said, "We are committed to providing our clients with the highest quality, differentiated, independent research analysis and advice. We are consistently investing in top tier talent to best serve our clients’ needs. Ravi brings exceptional experience to our Healthcare team with unique perspective and skills garnered from a distinctive career in healthcare financial services. This addition to an already strong team highlights our commitment to helping our clients in this strategically important sector." Dr. Mehrotra said, "I'm excited to join Evercore ISI and be a part of the premier Biopharma equity research franchise on the Street. I look forward to working alongside Josh and Umer." "Ravi is a very important addition to our Biotech effort, as we continue to expand our footprint and further serve our clients with independent and insightful company and thematic research,” said Josh Schimmer. -
Swancap Closes Its Second Private Equity Fund at €600 Million
PRESS RELEASE Munich, December 10, 2014 SwanCap closes its second private equity fund at €600 million SwanCap is an independent private markets invest- ment management firm established by UniCredit and its former private equity team Transaction oversubscribed Fund has been placed with international investors from Europe, the US and Asia SwanCap has successfully closed its second private equity fund with €600 million of commitments. The new fund, SwanCap Op- portunities Fund II SCS, has been placed with a diverse investor base from Europe, the US and Asia. These investors include pen- sion plans, insurance companies, and sovereign wealth funds in addition to family offices. SwanCap has been established by UniCredit Bank AG and its former private equity team to address the changing regulatory environment as well as to take advantage of growth trends in private markets - both in private equity and pri- vate debt. The new private equity fund represents both secondary and pri- mary investment strategies, with the secondary component largely consisting of a highly diversified pool of existing private equity in- vestments acquired from UniCredit and the primary component UniCredit Bank AG Presseabteilung Sederanger 4 80538 München Telefon: (089) 378-29319 Telefax: (089) 378-25699 - 2 - providing fresh capital for new investments. Ardian, the private in- vestment company with US$ 50 billion of assets managed or ad- vised, acted as one of the investors as the price and term setter in the transaction. Evercore´s Private Capital Advisory Group ad- vised UniCredit on the transaction. The fund is managed by the Luxembourg based SwanCap Investment Management S.A., which is advised by SwanCap Partners through its offices in Mu- nich, Milan and New York. -
Valuation Keystone Kops: Lazard, Evercore & Tsla/Scty
VALUATION KEYSTONE KOPS: LAZARD, EVERCORE & TSLA/SCTY Bias, greed and ignorance! The Tesla/Solar City Deal 2 The Banker’s Dilemma in Friendly Deals 3 The Special Challenge in the TSLA/SCTY Deal ¨ Where is the synergy? ¤ Though Musk claimed that the deal was a no-brainer, the logic of the deal and the potential for synergy looks like a far reach. ¤ There may be some cost advantages, though it seems to be primarily in Solar City (and does not require a merger to accomplish) ¤ The revenue gains are even more remote. ¨ Where is the control value? ¤ Though the companies are independent entities, they are both controlled by Elon Musk. ¤ The essence of control is that you think that one of these companies is badly run (presumably Solar City). ¤ If so, what’s stopping Mr. Musk from changing the management of the company? 4 The Evidence 5 The Misdemeanors 1. No internal checks for consistency: There is almost a cavalier disregard for the connection between growth, risk and reinvestment. Thus, when both banks use ranges of growth for their perpetual value estimates, it looks like neither adjusts the cash flows as growth rates change. 2. Discount Rates: I will give both bankers the benefit of the doubt and attribute the differences in their costs of capital to estimation differences, rather than to bias. The bigger question, though, is why the discount rates don't change as you move through time to 2021, where both Tesla and Solar City are described as slower growth, money making companies. 3. Pricing and Valuation: Both bankers move back and forth between value and price and often mix the two, with Lazard estimating the terminal value in its Tesla as ten times EBITDA. -
Fidelity to Buy Sungard for $9.1B
Deal of the Week: Fidelity to Buy SunGard for $9.1B Announcement Date August 12, 2015 Acquirer Fidelity National Information Services, Inc. (NYSE: FIS) Acquirer Description Provides banking and payments technology, consulting, and outsourcing solutions worldwide Founded in 1968 and headquartered in Jacksonville, Florida Acquirer Financial Mkt Cap: $19.8 billion LTM EBITDA: $1.6 billion Statistics EV: $24.5 billion LTM EV / Revenue: 3.8x LTM Revenue: $6.4 billion LTM EV / EBITDA: 15.2x Target Company SunGard Target Description Financial services information technology and software provider Headquartered in Wayne, PA Price / Consideration Price: $9.1 billion Consideration: Cash & Stock Acquirer Advisors Bank of America Merrill Lynch, Centerview Partners Target Advisors Goldman Sachs, JPMorgan Chase, Barclays, Deutsche Bank, Credit Suisse Rationale The SunGard acquisition is expected to complement Fidelity National Information Services’ business of providing banking and payment technology services to the financial services industry Seven firms (Bain Capital, Blackstone, the PE division of Goldman Sachs, KKR, Providence Equity Partners, Silver Lake and TPG Capital) teamed up to buy SunGard, paying a 44% premium for the company in 2005 and they will likely realize a return of 1.5 – 2.0x their equity investments Deal Points Consideration includes $2.8 billion worth of stock, $2.3 billion in cash and the assumption of SunGard’s $4 billion in debt Of Note SunGard posted annual revenue of $2.8 billion in 2014 and has more than 13,000 employees The combined company would have more than $9.2 billion in annual revenue and more than 55,000 employees The private equity investors were able to use a number of corporate finance tactics to bolster their returns on the SunGard deal – for example, they took out about $700 million in dividends and they broke SunGard into parts, both to raise money and to make the resulting operation more attractive to potential buyers [email protected] www.pillarsofwallstreet.com . -
Tokyo 100Ventures 101 Digital 11:FS 1982 Ventures 22Seven 2C2P
Who’s joining money’s BIGGEST CONVERSATION? @Tokyo ACI Worldwide Alawneh Exchange Apiture Association of National Advertisers 100Ventures Acton Capital Partners Alerus Financial AppBrilliance Atlantic Capital Bank 101 Digital Actvide AG Align Technology AppDome Atom Technologies 11:FS Acuminor AlixPartners AppFolio Audi 1982 Ventures Acuris ALLCARD INC. Appian AusPayNet 22seven Adobe Allevo Apple Authomate 2C2P Cash and Card Payment ADP Alliance Data Systems AppsFlyer Autodesk Processor Adyen Global Payments Alliant Credit Union Aprio Avant Money 500 Startups Aerospike Allianz Apruve Avantcard 57Blocks AEVI Allica Bank Limited Arbor Ventures Avantio 5Point Credit Union AFEX Altamont Capital Partners ARIIX Avast 5X Capital Affinipay Alterna Savings Arion bank AvidXchange 7 Seas Consultants Limited Affinity Federal Credit Union Altimetrik Arroweye Solutions Avinode A Cloud Guru Affirm Alto Global Processing Aruba Bank Aviva Aadhar Housing Finance Limited African Bank Altra Federal Credit Union Arvest Bank AXA Abercrombie & Kent Agmon & Co Alvarium Investments Asante Financial Services Group Axway ABN AMRO Bank AgUnity Amadeus Ascension Ventures AZB & Partners About Fraud AIG Japan Holdings Amazon Ascential Azlo Abto Software Aimbridge Hospitality American Bankers Association Asian Development Bank Bahrain Economic Development ACAMS Air New Zealand American Express AsiaPay Board Accenture Airbnb Amsterdam University of Applied Asignio Bain & Company Accepted Payments aircrex Sciences Aspen Capital Fund Ballard Spahr LLP Acciones y Valores