This page contains a Flash digital edition of a book.
6


ask an exper t advice


Peter Koomen is a partner with CDI Global, an international Company Search, M&A and Corporate Finance advisory firm, based in Amsterdam, the Netherlands. He has enjoyed a successful career having completed domestic and cross-border deals in sectors such as technical distribution and installation, retail, food, medical devices, pharmaceuticals, financial services and software. Prior to joining CDI Global in 2008, Peter was a director at Hagemeyer N.V., an AEX listed company in the Netherlands, where he was responsible for M&A and cross-border taxation.


ask an expert Peter Koomen Q


Please can you provide an overview of your firm?


CDI Global (previously Corporate Development International, or ‘CDI’), was founded in 1973 as a classic international company search firm, providing its clients with the right take-over targets to fit their corporate strategy. Although strategic company search still forms an important part of our offering, over the years we have developed into a more typical M&A and Corporate Finance advisory firm for the middle market. Our international organisation - we have operations in more than 30 countries - plays a pivotal role in servicing our clients’ needs. We have no sector specialisation, but many of our partners have their roots in industry, which makes us particularly strong in executing mandates on behalf of strategic investors.


Q Please discuss your most recent transactions?


The most important transactions that I worked on in 2010 included the transformational acquisition by food ingredients company, Amsterdam Commodities N.V., of the Deli Tea and Seeds business in June 2010, and the sale of a majority stake in ATC Group, the leading European provider of corporate trust and institutional services, to HgCapital in London, in October 2010.


Q


What were some of the main challenges and complexities for you and your firm regarding these transactions? - How did you overcome the complexities and challenges?


The Amsterdam Commodities (‘Acomo’) deal had been initiated already in 2008. The transaction was fully negotiated and senior financing was in place. The deal was partly to be financed by a public rights issue, to be announced in October 2008. We all know what happened in the financial markets at that time and we therefore advised Acomo not to proceed with the transaction; announcing a transformational deal and seeking shareholder approval for it and for the rights issue associated with it was considered too risky in such a volatile market. We decided to abort the process and keep the door open with the sellers. This proved to work out very well. The sellers re-initiated the transaction at the


fi MONTHLY MARCH 2011


end of 2009 and we successfully completed the deal in 2010, including the arrangement of the senior loan facilities and the issue of a convertible bond, the latter in cooperation with a major Dutch financial institution. The market was infinitely more receptive to the deal than back in 2008. The convertible bond issue was a great success and the share price of Acomo almost doubled in the 6 months following the deal. The main complexity in the other transaction, the sale of


a majority shareholding in ATC Group to HgCapital, concerned the fact that ATC Group was owned by a relatively large group of shareholders, some of whom exited the business completely (three founder shareholders) but most of whom continued as a shareholder going forward. We were all very conscious of the fact that conflicting interests could easily arise in this situation. We have, however, collectively been able to address this complexity due to the positive attitude of all parties towards the deal and towards the future prospects of the company. Also, without exception, every stakeholder was convinced that a transaction would only be feasible if it was satisfactory to all parties concerned. It was this collective sense of responsibility of ATC Group’s shareholders that caused the deal to close very smoothly.


Q What are your future aspirations?


In 2010 we completed 6 transactions in the Netherlands. Three of these deals had a value of well over € 100M, which is in the upper part of the middle market range. We will however continue focusing on somewhat smaller transactions in the Netherlands, i.e. those with a value of up to € 50M. We have the ambition to become leaders in this segment. Globally, we are working on expansion of our teams and


our position in established M&A markets in Western Europe and North America as well as in ‘emerging’ markets such as Eastern Europe, Latin America and Asia. We are continuously working on strengthening our international capabilities. Even though there is currently a lot of uncertainty in the market due to the debt situation in Southern Europe and Ireland, the unrest in the Middle East and the disaster that has hit Japan, we are convinced that M&A activity will remain strong in 2011. As a global firm we are aiming to pick up an increasing portion of that. fi


visit www.finance-monthly.com


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124  |  Page 125  |  Page 126  |  Page 127  |  Page 128