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SORTIS Invest is an investment banking boutique focused on mergers & acquisitions, private equity, venture capital and corporate finance. Company presentation www.sortis.bg
Citation preview
2
Contents
Corporate Presentation
Overview
SORTIS Group
Services
3
4
5
6Private Equity
Venture Capital
Mezzanine Loans
Project Finance
7
8
9
10Corporate Finance
EU Grants Funding 11
Approach
Pre- & Post- Investment Support
Investment Funds
12
13
14
15Funds Investment Criteria
Strategic Investors
Management
Key Team Members
16
17
18
19Track Record
Contacts 20
Overview
SORTIS Invest structures investment schemes that enable:
Investors to benefit from attractive business opportunities
Entrepreneurs to implement their investment plans
SORTIS Invest is part of the SORTIS Group that also comprises of SORTIS Real
Estate and SORTIS Credit
Experienced team in equity investments, real estate and corporate
restructuring projects in Bulgaria and internationally
Proven reputation and professional ethics
3Corporate Presentation
SORTIS Invest is a financial and investment advisor to businesses, venture
capital & private equity funds, institutional and individual investors.
Areas of expertise
CorporateFinance
EU GrantsFunding
Mergers &
AcquisitionsVentureCapital
PrivateEquity
SORTIS Group
Corporate Presentation 4
SORTIS Invest is part of the SORTIS Group that also comprises:
Real Estate Investment Management
Company with expertise in:
Real estate investment advisory
Real estate portfolio management
Property fund management
Mezzanine real estate financing
SORTIS Real Estate structures individual andcollective investment schemes that enable itsclient-investors to benefit from the real estateopportunities the company has sourced and
secured.
Active in all major real estate sectors,including residential, office, retail, industrialand hotels.
Credit and Leasing Advisory Company with expertise in:
Mortgage loans
Investment loans
Consumer loans
Leasing
SORTIS Credit offers advisory services for bankloans and leasing to companies and
individuals.
Partnership agreements with the leadingcommercial banks, leasing companies andnon-bank financial institutions in Bulgaria.
Services
5Corporate Presentation
Private equity
Venture capital
Mezzanine loans
Bank loans and other debt capital
Leasing
EU grants funding
SORTIS Invest assists entrepreneurs inselecting and securing the mostappropriate type of financing for theirinvestment plans through
Investment banking services tocorporate clients include
Identify attractive investmentopportunities for investors in varioussectors including
Mergers & acquisitions
Corporate finance
Company restructuring
Telecom, Media and Technology Energy Financial services Food & Beverage
Retail & Trade Healthcare Transport, etc
Private Equity
In a private equity or venture capital deal the investor:
Buys shares in the investee company
Does not receive regular installments like interest on loans
Assumes part of the business risk of the entrepreneur
Makes money only when the entrepreneur also makes money
Looks for profitable and cash-flow positive companies
6Corporate Presentation
Equity
Investors
Private Equity
FundsVenture Capital
Funds
Strategic
Investors
Buyout Funds “Business Angels”
TitleSources of
Funding
Venture Capital
Venture Capital is given to start-up or early stage growing companies
that need external financing in order to continue their expansion
7Corporate Presentation
Market valueof the portfolio company
Time / Life cycleof the portfolio company
Venture Capital
Investment Strategy aligned with business life cycle
Mezzanine Loans
8Corporate Presentation
Mezzanine financing is a way of attaining financing withoutceding ownership of the company. It is a blend of traditionaldebt financing and equity financing, reaping benefits of both
Mezanine financing, unlike traditional bank loans, is anunsecured debt, requiring no collateral
Like debt, mezzanine financing is very fluid and does notnecessarily involve giving up an interest in the company
Very high interest rates - often in the 20-30% range
Lenders often have the right to convert their stake to equityownership in the event of a default on the mezzanine loan
Mezzanine financing facilitates bank financing for the project, asit is subordinated to the senior debt
Project Finance
Project Finance is financing for a particular project (such as a mine,
toll road, railway, pipeline, power station, etc.) which is repaid from
the cash flow of that project
The financier principally looks at the assets and revenues of the
project in order to secure servicing of the loan on a stand-alone basis
Little or no recourse to the non-project assets of the borrower or the
sponsors of the project
The credit risk associated with the borrower
is not as important as in ordinary loan
transactions
Identification, analysis, allocation and
management of every risk associated
with the project is of paramount importance
9Corporate Presentation
Corporate Finance
Corporate Presentation 10
SORTIS Invest helps its
corporate finance clients to
maximize the value of their
companies while keeping an
eye on the firm's financial risks
SORTIS assists companies in
their strategic choices aimed
at growth, market penetration
and/or exit
Debt –raising &
restructuring
advice
Business sales
&
disposals
Valuations,
fairness
opinions and
appraisals
Management
buy-outs
& buy-ins
Mergers and
Acquisitions
Strategic
alliances
Public company
&
take-over advice
Corporate Finance Services Provided
SORTIS Invest assists companies in obtaining
grant financing from EU’s Operational
Programmes that are active in Bulgaria
The SORTIS EU Grants services include:
Eligibility evaluation
Competent choice of the most appropriate scheme for the Client’s
project
Preparation of a professional business plan and financial model that
demonstrate explicitly the project’s business sense and profitability
Putting together the physical application and organizing all necessary
documentation
Assistance in attracting the needed co-financing – securing 100% of the
investment required to implement the project
Corporate Presentation 11
EU Grants Funding
Approach
Before taking a mandate SORTIS Invest makes an internal assessment
of the project in order to determine its:
Feasibility
Bankability and finance-ability
Project Sponsor’s creditworthiness
SORTIS Invest suggests a financing structure, which best serves the
interests of the entrepreneur and also meets the investment policies
and requirements of potential investors
Equity
Mezzanine loans
Project financing
Credibility and trust are a main factor in the decision making process
of all financial investors
Investors heavily rely on the discretion of SORTIS Invest in selecting and
proposing them high-quality projects
12Corporate Presentation
Pre- & Post- Investment Support
SORTIS helps its advisory clients determine and
refine a winning business strategy and then
implement it
Business strategy is determined based on
assessment of the Client’s competitive position
and taking into consideration global and local
market conditions and long-term trends
13Corporate Presentation
Competitive advantage of
the client
Problem areas
Strategic positioning
Market trends
Project characteristics
Project Analysis Methodology
14
Seed
Capital
Business
AngelsVenture
Capital
Private
Equity
Mezzanine
Buy-outs
Investment Funds
SORTIS Invest has built up extensive network of 130+ investment funds
in Europe, North America, Middle East and Asia
Corporate Presentation
15
Controlling,
majority or
minority stakes
Telecom
Media
IT
Energy
Financial Services
Food & Beverages
Healthcare
Transport
Retail
Manufacturing
Other
Usually 3 to 7
years,
maximum
15 years
From deals of
less than
€ 1mln equity
to large
transactions
of € 150+mln
Equity
Investment
Size
Investment
HorizonSectors on
Focus
Ownership
Stake
Funds’ Investment Criteria
Partnering funds of SORTIS Invest bring to companies and businesses
exposure to a broad variety of investment criteria:
Transaction
Types
Buy-outs,
Growth capital,
Seed capital,
Early stage,
Special situations
Turnaround
Mezzanine
Secondaries
etc.
Corporate Presentation
Strategic Investors
Corporate Presentation 16
SORTIS Invest has also created a network of strategic corporate and
individual investors that could convey to companies and businesses
substantial benefit
Adding value to investments
Industry and business know-how
Brand name recognized in many countries
Marketing, operations and sales expertise
Training to company employees and management
Industry and personal connections beneficial for bringing in additional
capital and/or assisting with the sale of the company's products and
services
Strategic partners that operate in major industries such as healthcare,
telecommunications, technology, retail, food processing, beverages,
transport, etc.
17
Management
Corporate Presentation
10 + years of investment banking, M&A and asset management experience
ING Barings - Frankfurt/Main (Germany)
ETEBA - investment banking arm of National Bank of Greece
Balkan Advisory Company - independent investment banking boutique in SE Europe
TBI-BAC REIT - structured the first Real Estate Investment Trust in Bulgaria and acted as the
REIT’s Executive Director
ADDRESS Invest – Executive Director
Real estate investment management
Established SORTIS Invest – investment banking boutique in November 2006
Educated in Bulgaria, the Netherlands and Germany
Master’s degree in Banking and Finance
Bachelor’s degree in Business Administration
CFA® Charterholder
Served two mandates as Board member of the Bulgarian CFA Society
Board Member of the Alumni Club at Faculty of Economics and Business Administration of
Sofia University
Mr. Martin Paev, CFA
Born 1975, Bulgarian
Owner and General Manager
Key Team Members
Corporate Presentation 18
Dimcho G. Dimitrov Investment Banking Associate
Experienced in strategic market research, analysis and forecasting, new product
market sizing through financial modeling and company due diligence on M&A
transactions
Strategic Analyst W. R. Grace & Co., a $3B public specialty
chemicals company
Master of Business Administration (MBA) Northeastern University, Boston, USA
Krasimir GoranovInvestment Banking Associate
Experienced in investment analysis, project and company valuations, hedging and risk
control and portfolio management
Senior Financial Analyst Q Investments, L.P., a privately-held hedge
fund with $2.7B of assets under management
Financial Analyst Bear Stearns & Co.
Financial Analyst William C. Connor Educational Investment
Fund
Bachelor Degree in Finance & Accounting Texas Christian University, Fort Worth, USA
Track Record
19Corporate Presentation
WiMax Telecom Operator
Investor: Dekol
Amount: n.a.
Financial Advisor to
Atlantis.bg (Project Sponsor)
August 2007
LAN Internet Provider
Investor: Advance Equity
Holding
Amount: € 4,000,000
Financial Advisor to
Speedy Net
December 2007
Speedy Net
Risk Management Software
Investor: New Europe
Venture Equity (NEVEQ)
Amount: $ 5,000,000
Financial Advisor to
FinAnalytica
March 2008
Selected private equity and venture capital deals:
Contacts
Mr. Martin Paev, CFAGeneral Manager
E-mail: [email protected]
Cell: +359 88 50 50 200
www.sortis.bg
Tel: +359 2 943 90 70
Fax: +359 2 943 90 71
49 Madrid Blvd., Floor 1
Sofia 1505, Bulgaria
20Corporate Presentation