PASSION FOR ENTREPRENEURIAL COMPANIES
having the desire to challenge themselves and grow.
E q u i t y t o I n n o v a t e
CONTENT: ü Executive Summary ü Values ü Track Record ü Strategy Focus ü Approach ü Network ü Portfolio ü Inv. Partners
E q u i t y 2 I n n o v a t e
….a bit about us
o ArvenAa invests equity capital in small and medium enterprises (SMEs) since 2012 (www.arvenAa.com);
o part of MCP Group, founded in 2006 by Gian Maurizio Argenziano (www.gianmaurizioargenziano.com);
o focus on SMEs facing change (strategy, operaAon, ownership….) to foster long term
growth;
o holdings in healtcare, medical devices, mechanical engeenering;
o experAse in professional network and founder’ 25 years/over 80 cos Track Record since 1989.
MCP Group delivers private office services and strategy&opera8onal services (www.aassocia8.com); it holds interests in healthcare (www.effeemme.com), medical devices (www.dianax.com) and mechanical engineering (www.nadella.com)
ü execsumry
MANAGEMENT TEAMS
OPERATING ADVISORS
OPERATING PARTNERS
OUR TRACK RECORD
OVER 25 YEARS
OVER 80 PORTFOLIO COMPANIES
GLOBAL ESPERIENCE / EU FOCUS
MULTI-‐INDUSTRY/SEGMENT EXPERTISE
SUPERIOR PERFORMANCE
ASSESSED BY E&Y
… delivering value to our companies
…. our people
Over 30 acAve Partners
E q u i t y 2 I n n o v a t e
… based in the EU … each focused on specific segments
Passion for SMEs … with domain exper3se in specific segments
ü execsumry
MANAGEMENT TEAM
OPERATING ADVISORS
OPERATING PARTNERS
CHANGE (IE. TECH/DIGITALIZATION)
NEW MARKET OPPORTUNITIES
PRODUCT TRANSITION
OPERATIONAL EFFICIENCY
MANAGEMENT TEAM BUILDING
STRATEGIC REPOSITIONING
INDUSTRY CONSOLIDATION
… to enhance long term business growth. Focusing on business strategy and operaAonal excellence, we exploit our network of resources to support management in building value for customers, employees, and shareholders.
...our approach
AcAve across some industries / segments
E q u i t y 2 I n n o v a t e
… with a broad network of resources
… focused on an3cipa3ng change
partnership with entrepreneurial management
HEALTH CARE
MEDICAL DEVICES
MECHANICAL ENGINEERING
HARDWARE / INDUSTRIAL
COMMUNICATIONS
SECURITY / SYSTEMS
LUXURY /BRANDING
ü execsumry
OVER 80
PORTFOLIO COMPANIES
WITH
HIGH FOLLOW-‐ON ACQUISITION
RATIO
GROWTH EQUITY
FAMILY BUSINESS SUCCESSION
BUYING FROM FOUNDERS
UNDERPERFORMING OPERATIONS
DIVISIONAL CARVE OUT
EARLY STAGES
CORPORATE DEVELOPMENT
JV / ACQUISITIONS
GLOBAL EXPERIENCE
… customized to each specific situaAon § a wide range of transacAon types / business stages § transacAon range value from € 1million to € 200 million
… our capital
nearly € 3 billion managed to date
E q u i t y 2 I n n o v a t e
... invested strategically over Ame
… with a flexible investment approach
over Euro 3 billion of capital managed to date…
ü execsumry
E q u i t y 2 I n n o v a t e
Values
CONTENT: ü Executive Summary ü Values ü Track Record ü Strategy Focus ü Approach ü Network ü Portfolio ü Inv. Partners
E q u i t y 2 I n n o v a t e
Our Values Integrity Independence Excellence (dedica3on to….) Accountability Transparency Cordiality
.. .
………. values are frequently declared in markeAng. How to figure out Values are True and Fundamental ? Why are we different ?
Our Values are more about …. consciousness and awareness…
Social Responsibility
Being passive in socially risky situaAons equates to cooperate/sustain these situaAons (M.L.King).
We choose clear and transparent acAons in unclear situaAons. We experienced defending moral causes knowing there were personal causes or risk (Case Studies).
Long standing relaAonships
Sha r i ng common Va lues permits easiness/deligheulness; it helps avoiding conflicts even in difficult situaAons.
Bu i l d i n g l o ng s t a nd i n g relaAonships mager to us; We share same Fundamental Values with our Partner..s
Preserving Freedom
True Values prevail on hunger for money, thus someAmes preserving individual freedom.
Our Values preserve our Freedom.
ü our values
E q u i t y 2 I n n o v a t e
NETWORK
EXPERTISE/EXPERIENCE
VALUE CREATION FOR
OUR COMPANIES
INVESTMENT PERFORMANCE
TRACK RECORD
CONTENT: ü ExecSumry ü Values ü Track Record ü Strategy Focus ü Approach ü Network ü Portfolio ü Inv. Partners
Values
E q u i t y 2 I n n o v a t e
OVER 25 YEARS
NEARLY € 3 BILLION MANAGED TO DATE…
OVER 80 PORTFOLIO COMPANIES
GLOBAL EXPERIENCE /EUROPEAN FOCUS
MULTI -‐ INDUSTRY/SEGMENT EXPERTISE
SUPERIOR PERFORMANCE (PWC BENCHMARK)
E&Y ASSESSMENT REPORT
MULTI-‐INDUSTRY/SEGMENTS HEALTH CARE MEDICAL DEVICES MECHANICAL ENGINEERING HARDWARE / INDUSTRIAL COMMUNICATIONS SECURITY / SYSTEMS LUXURY /BRANDING …OTHERS
ANTICIPATING CHANGE
NEW MARKET OPPORTUNITIES PRODUCT TRANSITION
OPERATIONAL EFFICIENCY
MANAGEMENT TEAM BUILDING
STRATEGIC REPOSITIONING
INDUSTRY CONSOLIDATION
HIGLY SCALABLE DIGITALIZATION
FLEXIBLE APPROACH GROWTH EQUITY FAMILY BUSINESS SUCCESSION BUYING FROM FOUNDERS UNDERPERFORMING OPERATIONS DIVISIONAL CARVE OUT EARLY STAGES CORPORATE DEVELOPMENT JV / ACQUISITIONS GLOBAL EXPERIENCE
OVER 80
PORTFOLIO COMPANIES
PLUS SEVERAL FOLLOW-‐ON ACQUISITIONS
A bit about our….. track record
3 BILLION
HEALTH CARE MEDICAL DEVICES INDUSTRIAL ENGINEERING/PROCESSING COSMETICS LOGISTIC SISTEM INTEGRATION / SOFTWARE LEISURE CHEMICAL, PACKAGINE MATERIALS MEDIA 6 TELECOM, PUBLISHING FFOD, FOOD PROCESSING TRAVEL, CLEANING SERVICES VENDING MACHINES GARDEN VEHICLES/EQUIPMENT HARDWARE / INDUSTRIAL COMMUNICATIONS /COMM. MNGMT SECURITY / SYSTEMS LUXURY /BRANDING OTHERS
ü Track record
E q u i t y 2 I n n o v a t e
STATEMENT We have analyzed the Track Record – All Private Equity Deals (79 ndr.) …. -‐ as agachment B to this report (“Track Record”), on the basis of the Methodological AssumAons presented …. We confirm that all transacAons included in the Track Record have been managed or have fallen under the responsibility/management of Gian Maurizio Argenziano as ……. We have analyzed the return achieved on 30 Track Record transacAons included in the agachment A “Analyzed Track Record” to this report. From the analysis performed we confirm the following: The return on 23 divestments included in the Track Record, for which we were able to complete the agreed analysis (agachment A) resulted in an average Money MulAple Cash-‐on-‐Cash of 3.0X, equal to a 42.5% non weighted average IRR and with an average investment lenght of about 3.4 years (… with a maximum of 6.5 years) ….… We have receied confirmaAon about the return achieved on a furter 7 transacAons in Annex A….. Source: E&Y. Analysis of the Track record of Gian Maurizio Argenziano, 12 January 2012
see enAre EY report, list of companies and industries on www.arvenAa.com
ü Track record
E q u i t y 2 I n n o v a t e
OVER 25 YEARS
NEARLY EURO 3 BN MANAGED
OVER 80 PORTFOLIO COMPANIES
SUPERIOR PERFORMANCE (PWC BCMRK)
GLOBAL, EUROPEAN
INDUSTRY/SEGMENT DIVERSIFIED
ASSESSED BY E&Y
TRACK RECORD
Since 1989, including founder’S TR
7 porlolios for 6 global/na8onal Funds/InvCos
EV range 30 to 100 Mn (Min/Max .5 Mn to 1 Bn)
all stages included (growth capital and buy-‐outs mainly)
E&Y Performance Report: 20 years ending 2011
Benchmark: PWC PE perf. report 20 years ending 2011
HEALTH CARE
MEDICAL DEVICES
INDUSTRIAL ENGINEERING/PROCESSING
COSMETICS
LOGISTIC
SISTEM INTEGRATION / SOFTWARE
LEISURE
CHEMICAL, PACKAGINE MATERIALS
MEDIA 6 TELECOM, PUBLISHING
FOOD, FOOD PROCESSING
TRAVEL, CLEANING SERVICES
VENDING MACHINES
GARDEN VEHICLES/EQUIPMENT
HARDWARE / INDUSTRIAL
COMMUNICATIONS /COMM. MNGMT
SECURITY / SYSTEMS
LUXURY /BRANDING
OTHERS
ü Track record
E q u i t y 2 I n n o v a t e ü Strategy focus
NETWORK
EXPERTISE EXPERIENCE
VALUE CREATION FOR
OUR COMPANIES
INVESTMENT PERFORMANCE
TRACK RECORD
CONTENT: ü ExecSumry ü Values ü Track Record ü Strategy Focus ü Approach ü Network ü Portfolio ü Inv. Partners
Values
E q u i t y 2 I n n o v a t e
TARGET SMES WITH STRONG ENTREPRENEURIAL FLAVOR FOR GROWTH
TGT STAGE AVAILING OF CHANGE OPPORTUNITIES
INDUSTRY CERTAIN INDUSTRIES/SEGMENTS
INVESTMENT PRIVATE (PE&VC) AND PUBLIC (PIPE) EQUITY; SMES PORTFOLIO MANAGEMENT (PMS)
INV. STAGE MOST
INDUSTRIES/SEGMENTS OF INTEREST HEALTH CARE MEDICAL DEVICES MECHANICAL ENGINEERING HARDWARE / INDUSTRIAL COMMUNICATION MANAGEMENT SECURITY / SYSTEMS LUXURY /BRANDING …OTHERS
ANTICIPATING CHANGE NEW MARKET OPPORTUNITIES PRODUCT TRANSITION
OPERATIONAL EXCELLENCE
MANAGEMENT TEAM BUILDING
STRATEGIC REPOSITIONING
INDUSTRY CONSOLIDATION
HIGLY SCALABLE DIGITALIZATION
TARGET CRITERIA
EV VALUE .5 TO 200 EURO MN
TUTNOVER 10 TO 300 EURO MN
VALE CHAIN: MANUFACTURING TO RETALING
FORESEABLE BUSINESS MODEL
GLOBAL EXPERIENCE
INVESTMENT STAGES GROWTH EQUITY FAMILY BUSINESS SUCCESSION BUYING FROM FOUNDERS UNDERPERFORMING OPERATIONS DIVISIONAL CARVE OUT CORPORATE DEVELOPMENT EARLY STAGES TURNAROUND JV / ACQUISITIONS
Flexibility; our (network) experience gives us access to opportuniAes across a range of business stages and industries with customized investments.
ü Strategy focus
Our Strategy
E q u i t y 2 I n n o v a t e
Partnerships with
entrepreneurs
Backing management
Ac3ng as General Partner
We have a history of success in partnering with entrepreneurial management teams. Our partners hold the experience relevant to the companies in which we invest (though not necessarily currently managing them)
our broad network of relevant contacts includes professionals who served as managers and directors in our poreolio companies. It helps to improve performance in most areas, parAcularly those where SMEs are weaker.
ownership stability magers as management independence does. We ensure clear guidance in ownership and we always line up management interests with those of investors.
our approach
ü Approach
E q u i t y 2 I n n o v a t e
Flexibility. we customize our approach by adopAng the most appropriate soluAon to each specific sutuaAon across a range of business stages:
Professional Decision making based on relevant infos and DDs. No complex responsibility limitaAon formal requirements ensure rapidity.
….to ensure rapid and effecAve results. In certain cases, as turnarounds, we adopt a temporary “short term -‐ objecAve driven” strategy to improve cash generaAon as a first stage preluding a “value” strategy.
Flexible Strategy
Professional Decision making
Efficient execu3on process …
GROWTH EQUITY
FAMILY BUSINESS SUCCESSION
BUYING FROM FOUNDERS
UNDERPERFORMING OPERATIONS
DIVISIONAL CARVE OUT
EARLY STAGES
CORPORATE DEVELOPMENT
TURNAROUND
JV / ACQUISITIONS
our approach
ü Approach
E q u i t y 2 I n n o v a t e
Our Partners are oten investors in our companies; we line up their interest with ours as investors, also by means of appropriate, performance-‐based remuneraAon and equity parAcipaAon.
ü Network
… the result of 25 years track record of inves3ng alongside management teams and then working with them as partners.
Our Partners Network…
ENHANCING SMES’s VALUE IN THE LONG TERM HORIZON
F O S T E R I N G G R O W T H A N D OPERATIONAL EXCELLENCE
SETTING THE MOST APPROPRIATE COURSES OF ACT ION IN OUR COMPANIES
S E A R C H I N G F O R T H E R I G H T BUSINESSES THAT WILL BENEFIT FROM THESE OPPORTUNITIES
UNDERSTANDING CHANGE AND THE RESULTING OPPORTUNITIES ANTICIPATING CHANGE
NEW MARKET OPPORTUNITIES
PRODUCT TRANSITION
OPERATIONAL EXCELLENCE
STRATEGIC REPOSITIONING
MANAGEMENT TEAM BUILDING
INDUSTRY CONSOLIDATION
HIGHLY SCALABLE DIGITALIZATION
E q u i t y 2 I n n o v a t e
, … the result of 25 years track record of invesAng alongside management teams and then working with them as partners.
Our Partnrs are oten investors in our companies; we line up their interest with ours as investors, also by means of appropriate, performance-‐based remuneraAon and equity parAcipaAon.
MANAGEMENT TEAM
OPERATING ADVISORS
OPERATING PARTNERS
Our partners hold the management experience relevant to the companies in which we invest. o Management Team members (Managing Partners, MPs) are the top
execuAves (c.e.o., c.o.o., c.m.o. and c.f.o.) responsible of a poreolio company or experienced managers in charge of a company specific operaAon.
o OperaAng Partners (OPs) are former MPs in companies in which we held interest, though not necessarily. OP supports MPs by conAbuAng network and experience in a specific industry/segment or by assuming temporary direct management responsibiliAes as providing technical experAse/support in operaAons where change must happen in given Ameframe.
o OperaAng Advisors (OA) are professionals with deep experAse in specific areas which have proven to be effecAve in backing MPs in our companies
Our Partners Network …
ü Network
E q u i t y 2 I n n o v a t e ü Portfolio
www.arven8a.com/our-‐porlolio-‐companies/
Arven8a Medical Devices
Arven8a Mechanical Engineering
Arven8a Health Care
Arven8a PIPE
CONTENT: ü ExecSumry ü Values ü Track Record ü Strategy Focus ü Approach ü Network ü Portfolio ü Inv. Partners
E q u i t y 2 I n n o v a t e
Business Founders (and/or their families) facing new business stages and having decided partnering up with us to fullfill the potenAal they have created.
Entrepreneurial Partners, former owners of businesses we have bought/shared in the past, our OperaAng Parners and our Managing Partners.
LPs, private offices, high networth individuals and insAtuAons which have parAcipated in previous ArvenAa investments and have demostrated to share our same long horizon investment philosophy.
Tier One Ins3tu3onal Cluster” (TOIC), 5 insAtuAons already investors in our companies, having demonstrated to be reliable and to share our long term horizon.
Ins3tu3onal Investors, customers of MCP Group having Poreolio Management Services agreements in place.
Investors relevant to the specific company, sharing our Values and having the potenAal to add value to the acquired business. When our co-‐investors hold potenAal to support to our companies, we always ensure lining up of interests is in place.
When we share ownership, our most frequent investment partners are:
Our EVCA-‐code compliant governance allows priority ordered co-‐investment rights to our LPs, preven8ng poten8al conflict of interest. our co-‐investors hold competence/poten8al to contribute specific know-‐how and support to our companies..
Our… Investors
Arven3a invests its own capital in partnerships with entrepreneurs
ü Inv. Partners
M C P G r o u p
private office services MidCapitalPartners
A s s o c i a t i
OUR Group … Partners&Customers
SMEs porlolio management and strategy&opera8onal services
Overseas Industries SpA
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