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AURELIUS
GOOD HOMEF O R C O M P A N I E S
Dear Business Partner,
For almost a decade, we have dedicated ourselves to corporate carve-outs and companies in diverse special situations. Core of all AURELIUS investments is the potential to improve value by creating sustainable suc-cessful businesses through close operative supervision, ultimately resulting in job security, and stability with suppliers, customers and potential financiers.
Three key principles form our business philosophy:
1.) Financial stability is the foundation of all business activitiesBased and listed in Germany, we typically finance our transactions exclusively with equity, independent from banks and volatile debt markets.
2.) Continuity is the base for entrepreneurial partnershipsAs an active, long -term investor we build long-lasting relationships – with our portfolio companies to continuously create operational value, and with the sellers to ensure that AURELIUS is the preferred partner for future disposals. Quick flips are not a sus-tainable strategy.
3.) Responsibility towards employees and stakeholdersWe are aware of the responsibility we assume when we take on a new business with its employees. We know that lasting success in challenging times is highly dependent on the fair and constructive cooperation between employees, business partners and the new owner.
We would be delighted to be considered as transaction partner for upcoming transactions, and to demonstrate that we can provide a lasting ‘Good Home’ to your business.
Kind regards,
TRUSTED TRANSACTION PARTNER
4-farbig
Dr. Dirk Markus Gert Purkert Donatus Albrecht
The executive board of AURELIUS AG
ABOUT AURELIUS AURELIUS is a listed, mid-market pan-European investor, focussed on value creation through operational improvement. Based in Munich, the Group generates revenues of EUR 1.5bn employing approximately 11,000 people through its three business divisions: IT / Business Services, Industrials / Chemicals, and Lifestyle / Consumer Goods. AURELIUS has an unlimited investment horizon and is thus able to partner with companies for the long-term, supporting back loaded business plans and growth beyond the initial investment where appropriate.
The shares of AURELIUS AG (ISIN: DE000A0JK2A8) are traded on all German stock exchanges with a market capitalisation of c. EUR 850m. (June 2014).
2009 2010 2011 2012* 2013
Group revenues (in EUR m.) 902 936 1,263 1,378 1,525
EBITDA (operating / in EUR m.) 23 85 99 114 106
Equityratio 34% 33% 30% 30% 30%
Financialliabilities(inEURm.) 71 188 186 170 136
Cash (in EUR m.) 156 177 154 245 224
Numberportfoliocompanies 13 16 16 17 17
Employees 3,523 6,803 6,631 10,226 11,110
* 2012 figures restated according to IFRS 5
n Chemicals / Pharman Mechanical Engineeringn Automotiven Consumer Electronics
n IT-Servicesn Logisticsn B2B-Servicesn Security Services
n Lifestyle / Leisure Productsn Consumer Goodsn Food / Beveragen TMT
Industrials / ChemicalsIT / Business Services Lifestyle / Consumer Goods
1Closing expected in Q2 20142Closing expected in Q3 2014
1
Individual Desktop Solutions GmbH2
(former T-Systems IDS)
Telvent Spain
GEOGRAPHIC FOOTPRINTWith operations in 17 European countries and further subsidiaries in APAC, Latin America and the US, AURELIUS invests in companies headquartered all over Europe.
GROWTH THROUGH ACQUISITIONSAURELIUS pursues a continuous growth strategy that focuses on the acquisition of businesses that have operational im-provement potential. AURELIUS investments often share one or more of the following characteristics:
Profitable underperformers
Captive situations Incomplete businesses / carve-outs
Asset deals
Under-managed Under-investment Declining marketsLagging
internationalisation
Restructuring cases Family successionValue impeding parts
of buy-outsManagement remains
with seller
AURELIUS offices
AURELIUS country operations
London
Munich
Stockholm
AURELIUS – BEST OF BOTH WORLDS
OPERATIONAL DEVELOPMENT OF ACQUIRED BUSINESSESWithinAURELIUS,acquiredbusinessesarefurtherdevelopedthroughoperationalandstrategicadvice,invest-mentprogrammesandintenseshareholder/managementfocus.
COMPANY and MANAGEMENT AURELIUS
Stand-alone company with entrepreneurial perspective
Operationally involved shareholder with capital and expertise
n Stand-alonecapability
n Lean,flexibleorganisation
n Long-term,sustainablefocus
n Entrepreneurial,incentivised management
n Operationalsupportandexpertise throughcorporatetaskforce
n Supportfromlegal,HRand finance/M&Aexperts
n Closeinteractionwithnon-executive board
n Capitalforinvestmentsandadd-ons
n Strategicinvestmentrationale
n Long-terminvestmenthorizon
n Synergypotential
n Managementcapacityfor operationalcomplexity
n Return-/exit-driveninvestment
n Shortdecision-makingprocesses
n Short-to-medium-terminvestment horizon
n Neutralinvestor(nocompetitor)
CORPORATE INVESTOR FINANCIAL INVESTOR
n Long-terminvestmenthorizon
n Managementcapacityfor operationalcomplexity
n Shortdecision-makingprocess
n Neutralinvestor(nocompetitor)
Contact NordicsAURELIUS NORDICSStockholm . Telephone +46 8 124 10 375 [email protected] . www.aureliusinvest.com
Contact UKAURELIUS Investments Ltd . 3rd Floor . 1 Savile RowLondon W1S 3JR . Telephone +44 207 440 [email protected] . www.aureliusinvest.co.uk
Contact Germany (HQ)AngerPalais . UntererAnger3 . 80331MunichTelephone+49895447990 . [email protected] . www.aureliusinvest.de
PLEASE CONTACT US:
AURELIUS’ INVESTMENT ADVANTAGE
DISCLAIMER:Thismaterialisforyourgeneralinformationonly.Theinformationinthismaterialshouldneitherberegardedasanoffernorasolicitationtobuy,sellorotherwisedealwithanycompanyorinvestmentreferredtohereinandisnotintendedfordistributionto,oruseby,anypersoninanycountry,includingtheUnitedStates,wheretheinvestmentfundsandservicesreferredtoarenotauthorisedorregisteredfordistributionorinwhichthedisseminationofinformationonthefundsorservicesisforbidden.Noneoftheinformation,whetherinpartorfull,shallbecopied,reproducedorredistributedinanyform.Thisnoticedoesnotconstituteasecurityprospectus.Noguarantee,warrantyorrepresentation,expressorimplied,isgivenastotheaccuracyorcompletenessoftheinformationcontainedherein;andneitherofthepersonsmentionedinthismaterial,noranyothercompanyorunitbelongingtotheAURELIUSGroup,noranyofitsofficers,directorsoremployeesacceptanyliabilityorresponsibilityinrespecttotheinformationoranyrecommendationsexpressedherein.
INVESTMENT CRITERIA RevenuesofEUR30m.uptoEUR750m.
EBITDA-Marginupto+10%,inexceptionalcasesalsonegative
Majority investmentsonly
Transaction valuesofuptoEUR150m.
Equity contributionperdealofEUR5m.–EUR50m.
n 100%equitytickets(notcontingentonbankfinancing)
n Fastinternalfinancingdecisions
n Nomin./max.equityticket– adaptabletochangesin valuation
Transaction security
Abilitytocopewith
n Operationaldifficulties
n Complexcarve-outs
n Incompletecompaniesormanagementteams
Operational support
Long-term investment horizon
Idealbuyerforn Cyclicalindustriesn Laggingbusinessplans
n Captivesituations
Abletoaccomodate
n Complextransactionstructuresincludingdebt
n Bridgefinancing
n Deferredpaymentstructuresforbackloadedbusinessplans
Flexibility