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PEI Operational Excellence Awards 2019

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Operational excellence 2019 October 2019 • privateequityinternational.com Asia-Pacific Turnaround Profit Expansion Growth StrategyAmericas margin Digitisation Customer service Customer ARE YOU EMEA Global ambitions State-of- PREPARED FOR THE Product launches the-art New DOWNTURN? facilities R&D Private equity investors and portfolio company executives turn to Alvarez & Marsal to get OpEx Awards: ahead of market volatility. Our approach towards revenue and cost optimization is focused M&A Know-how Who are the on commercial and operational efficiency to create sustainable EBITDA impact. best value Let’s discuss how we can create a plan that gets you ready for the downturn. creators? Best practice Visit us online to learn more at AlvarezandMarsal.com Buy-and-build Nick Alvarez | Managing Director Markus Lahrkamp | Managing Director Jeffrey Klein | Managing Director Robust [email protected] [email protected] [email protected] Exit multiples Sales spike IT systems +1 646 495 3550 +1 212 763 9558 +1 212 763 9626 technology Disruptive ESG Internal rate of return Cost savings Innovation NORTH AMERICA • EUROPE • MIDDLE EAST • LATIN AMERICA • ASIA INNOVATION INNOVATION INNOVATION INNOVATION We’re up to speed, INNOVATION INNOVATION so you can go full speed. SEE CHALLENGES BEFORE THEY’RE CHALLENGING. To make confident decisions about the future, middle market leaders need a different kind of advisor. One who starts by understanding where you want to go and then brings the ideas and insights of an experienced global team to help get you there. Experience the power of being understood. Experience RSM. rsm us.com A PASSION FOR DEVELOPING COMPANIES A DIFFERENTIATED GLOBAL INVESTMENT ORGANIZATION eqtgroup.com RSM US LLP is the U.S. member firm of RSM International, a global network of independent audit, tax and consulting firms. Visit rsmus.com/aboutus for more information regarding RSM US LLP and RSM International. GR-NT-ALL-PEG-1115 8-07x10-63_GR-NT-ALL-PEG-1115-PEI Perspectives Ad.indd 1 11/12/15 5:35 PM Contents How to contact us Senior Editor, Private Equity Toby Mitchenall [email protected], +44 20 7566 5447 Senior Editor, Private Equity, Americas Isobel Markham [email protected], +1 646 380 6194 Operational excellence 2019 Senior Special Projects Editor Graeme Kerr [email protected], +44 20 3862 7491 ISSN 1474–8800 • OCTOBER 2019 Special Projects Editor James Linacre [email protected], +44 20 7566 5465 News Editor Adam Le [email protected], +44 20 7566 5437 Insight Senior Reporters Carmela Mendoza [email protected], +44 203 640 7512 2 Rod James [email protected], +44 20 7566 5453 Key trends Five things we learned from Asia Reporter the Operational Excellence Awards 2019 Alex Lynn [email protected], +852 2153 3148 Editor’s letter Respect where it’s due 6 Reporter Preeti Singh [email protected], +1 646 565 5312 Analysis Contributors Amy Carroll, Claire Coe Smith, Rob Kotecki, Vicky Meek, Victoria Robson Honour roll Managing Editor, Production: Mike Simlett 8 The 12 winning entries 17 Head of Production: Greg Russell Integrating IVC There are significant Production Editors: Daniel Blackburn, benefits to investment and operations Meet the judges 18 Adam Koppeser teams working together, say Partners Copy Editor: Eric Fish Group’s Todd Miller and Paul Swaney EMEA The winners from Europe, Head of Design: Miriam Vysna the Middle East and Africa 23 Senior Designer: Lee Southey On the minds of OPs Industry leaders on adding value and anticipating change 11 Americas The winners from Designers: Denise Berjak, Glen Reynolds North and South America 31 Head of Marketing Solutions, Navigating US-China trade tensions Private Equity Group: Asia-Pacific The winners from Hony Capital’s CEO, John Zhao, shares Alistair Robinson the Asia-Pacific region 39 [email protected], +44 20 7566 5454 the lessons learned with Jushi Group 14 Subscriptions and reprints Outstanding Achievement [email protected] Buy-and-builds in a digital age The ESG, Growth Strategy and Customer Service How are today’s add-ons different? Innovation winners 46 [email protected] PwC’s Friederich von Hurter and Filip Debevc explain 20 Editorial Director: Philip Borel Rethinking data privacy EisnerAmper’s Director, Digital Product Development: Louis Bruno and data risk expert Matthew Amanda Janis The four positions a CEO must be able Director of Research and Analytics: Dan Gunner to play Sticking with a sub-par leader Bernstein on regulatory risks 50 jeopardises value creation, says TBM Managing Director, Americas: Colm Gilmore Consulting Group’s Shannon Gabriel 28 Lessons from the Operating Partners Managing Director, Asia: Chris Petersen Forum A look at PEI’s conference 52 Group Managing Director, Brands and Markets: Pursuing a sustainable buy-and-build Paul McLean strategy Five tips to scale businesses Reaping the benefits of RPA Machine Chief Executive: Tim McLoughlin quickly and sustainably 35 learning solutions are a great lever to pull, says RSM’s Dave Noonan 54 Tracking procurement savings in portfolio companies High-tech data Getting strategic about human capital analysis tools are key, say Efficio’s Relationship engineering is paying For subscription information visit Declan Feeney and Waldo Saville 36 dividends for firms that embrace it 56 privateequityinternational.com The need to prepare for a downturn Choosing the right outsourcing Whenever it comes, prepare now, say partner Choosing the right provider is Alvarez & Marsal’s Markus Lahrkamp all-important, say TMF Group’s Ramón van and Jeffrey Klein 44 Heusden and Thomas Erichsen 58 October 2019 • Operational Excellence 1 Creating Value by Understanding Your Business. Key trends Five things we learnt provider Intelenet Global Services. With Learn more at affordable housing finance company from the Operational Excellence Aavas Financiers, Partners Group targeted executives specifically to drive EisnerAmper.com/PE Awards 2019 better branch service, to drive a ‘digital first’ model, and to preserve its culture. In the case of New Zealand- ow in their eighth year, entries to our annual Operational Excellence based Manuka Health, Pacific Equity Awards never fail to provide a rich variety of insights, writes James Partners built a fresh board with Linacre. Here are five key lessons to take away from this year’s one consideration always front and showcase of the best and brightest work done by general partners to centre – ESG. New appointees were transform companies. specifically chosen for their expertise in Whether companies are embracing ESG as a way to increase food products, agribusiness and social Nproductivity or beefing up their offerings with a string of bolt-ons, expanding their responsibility. horizons geographically or looking to innovate with research and new products, the best GPs formulate a strategy and commit to executing it. Embracing ESG 2 enhances earnings Strong leaders get Manuka honey producer Manuka Health 1strong results truly took ESG to heart, as did many New blood can always help, but it was of this year’s entries. Not only was the striking how many entries replaced new management team picked with not just the CEO or a couple of senior ESG factors in mind, but the company figures, but the entire board. That was worked to identify land suitable certainly true of AniCura, a veterinary for regeneration and led industry care company within which Nordic engagement with regulators both Capital acquired a majority stake in 2014. domestically and in key export markets The appointment of a new board, with to tackle counterfeit production. It also a new CFO and in-house M&A function, implemented an initiative pioneering helped to turn what had on entry been the use of climate and bloom a 50-clinic company in Scandinavia into monitoring technology. a leading pan-continental platform four Not many companies could do more years later. Nordic invested heavily in on ESG, but ELIX Polymers, a supplier professionalising AniCura, creating a offerings. It did so by building the entire of ABS polymers and products used in new organisational and operational management team, starting with the the manufacture of consumer goods, structure and installing a whole CEO but also including a chief customer electronics, medical devices and corporate culture. officer, chief marketing officer, and chief automotive dashboards, which Sun It was a similar story for one of product and strategy officer. European Partners acquired in 2012, our Americas winners, as L Catterton The same theme played out in Asia- excelled in coupling strides forward in built Zarbee’s Naturals from a four- Pacific, as Blackstone installed a new ESG with leaps in earnings. man team selling one product to a CEO and senior board members at The plastics industry faces ongoing nationwide business with a full suite of global business process management challenges around environmental © 2019 EisnerAmper LLP. All Rights Reserved. 2 Private Equity International • October 2019 Creating Value by Understanding Your Business. Learn more at EisnerAmper.com/PE © 2019 EisnerAmper LLP. All Rights Reserved. Insight impact, but ELIX reduced its energy trio of sales managers and a team of consumption and its greenhouse gas “ Embracing ESG full-time sales employees. Its revenues emissions – each by more than 10 in that market accelerated to 50 percent percent – and reduced waste generated does not mean run-rate growth and formed a significant per tonne manufactured by almost 5 factor in its subsequent
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