eNewsletter no. 327

We have a great programme on July 4, 2012: with a pre-eve event at Tesla Motors and a first Swiss Private Equity Night at Jade Club, and with a lot of excellent speakers and case studies!

Register now with the enclosed registration card or send us an email with the needed information.

• Brochure
• Participant List

Thursday, 30 August 2012, AI Leone, Zurich

After the first Young SECA Get Together Event in March 2012, which was a great success with over 50 participants, we are pleased to invite you to the second Young SECA Get Together.

This event is a good occasion to meet other young professionals and enlarge your network within the M&A, Private Equity and Venture Capital community. The event is free of charge for all Young SECA members and is also open for all other SECA members.

Mittwoch, 19. September 2012, Au Premier, Zurich

Für Markenunternehmen werden Multiples gezahlt, die bis zu 100% über dem Marktdurchschnitt liegen. Durch die richtige Nutzung der erfolgskritischen Stellhebel im Markengeschäft kann die Umsatz- und Kapitalrentabilität unterhalb der Schwelle strategischer Programme gesteigert und so dieser zusätzlicher Unternehmenswert gehoben werden.

Erfahrungsgemäss verfügen die Verantwortlichen in den VC- und PE-Gesellschaften über hervorragendes Wissen in Bezug auf strategische Programme. Das Luncheon bietet zusätzlich eine wertvolle Ergänzung des Management-Werkzeugkastens, speziell für das Markengeschäft in Konsumgütermärkten.

Referenten

• Otto R. Dörner, Marken-Coach, Ottobrunn / München
• Guido Bruch, Geschäftsführer, Equity Advice GmbH, München

Moderation

• Maurice Pedergnana, Geschäftsführer, SECA

Von Fundraising über Investoren Reporting bis zur Exitstrategie.

IntraLinks verfügt über außergewöhnlich viel Erfahrung in der Zusammenarbeit mit internationalen Private Equity Häusern jeder Grösse. Auf Basis dieser Expertise kann IntraLinks seinen Kunden im Bereich Alternative Investments cloud-basierte Lösungen anbieten, die sich in ihre Arbeitsabläufe einfügen.

Mit einer umfassenden Plattform unterstützt IntraLinks die Informationsverteilung sensibler Geschäftsinformationen während des gesamten Investitionszyklus. General Partner können mit Limited Partnern und Portfoliounternehmen beispielsweise Marketingdokumente, Private Placement Memoranden, Capital Calls, Capital Accounts, Bilanzdaten und weitere hochsensible Geschäftsdokumente austauschen.

• Read more

• Umfeld für Venture Capital ist sehr unattraktiv
• Mittelstandsfinanzierung: Wagniskapital für den Start
• Intel investiert in schwedischen Multitouch-Pionier Flatfrog
• AVCO stellt sich breiter auf und wird günstiger
• Private-Equity-Markt stabil auf schwachem Niveau

Agile Wind Power and investiere announce the successful closing of a CHF 1.8 million angel financing round for Agile Wind Power. As Nick Beglinger, president of the business association swisscleantech, notes: “The successful financing for Agile Wind Power was the first significant early-stage cleantech investment in Switzerland for a long time.”

On 13/06/12 it was announced that yd yourdelivery GmbH, a Berlin, Germany-based online food and drink delivery website operator, has received EUR 15 million in funding from Macquarie Capital Group Pty Ltd, BCM Bruker Capital Mangement GmbH, Doultin SA, DuMont Venture Holding GmbH & Co. KG, INVESTER Private Equity GmbH, KfW Bankengruppe, Mountain Super Angel AG (St.Gallen/Switzerland) and Rheingau Ventures UG. Source: Zephyr

Die Schweizerin Brigitte Baumann, Business Angel, spricht mit dem WirtschaftsBlatt über staatliche Unterstützungen und erstellt eine To-Do-Liste. In Europa gibt es eine blühende Szene aus Start-ups und Entrepreneuren - sei es auf dem Gebiet von Smartphone-Anwendungen, IT, digitaler Kunst oder Industrielösungen. Von der Vielfalt der Branchen konnten sich Besucher vergangene Woche auf dem Kongress "IncrediblEurope" in Wien überzeugen, gemein haben die Gründer eines: Sie haben kreative Ideen - zum Ausbau fehlt aber oft das Kapital.

Das Angebot wird von NewMargin Ventures geleitet, einer führenden Venture-Capital-Managementgesellschaft aus China. Diese Gesellschaft wird im Sommer 2012 erneut bei der SECA Summer Tour nach Indien und China in Shanghai besucht.

Adveq has promoted Tim Creed to managing director after eight years at the firm. Adveq, an asset manager investing in private equity funds globally, has announced that it has promoted Tim Creed to Managing Director, effective July 1st, 2012.

MBI bei STILO - ein neuerlicher Deal der GMP Gamma Mezzopreneurs – des Mezzanininvestors der gcp gamma capital partners (GCP) - bringt Österreichisches Mezzaninekapital für den Ostschweizer Büromöbelhersteller Stilo AG, der sich auf hochwertige Designmöbel spezialisiert hat und sein Dienstleistungsangebot ausbaut. Der MBI von Hermann Vetter und SAMSA AG gelang durch Unterstützung der GMP und der Hypo Vorarlberg.

• Medienmitteilung

On 21/06/12 ideeli Inc., a New York City-based members-only designer fashion brands online retailer, announced that it has raised USD 30 million in a fourth (Series D) round of funding provided by Credit Suisse and existing institutional investors. Source: Zephyr

• Institutionelle Anleger erhöhen Private-Equity-Quote
• In Europa keine Besserung für Buyout-Firmen in Sicht - Coller
• Investoren müssten Verhalten ändern
• Axa Private Equity hat von Investoren 8 Mrd. Dollar bekommen
• Private Equity im Mittelstand weiter auf dem Vormarsch ...

• 25 June 2012 - Financial News

In all, 182 venture capital fund managers representing 176 venture capital firms from across Europe co-signed the letter. Even after the letter was sent, the EVCA continued to receive signatures from practitioners expressing their support to the letter.  Meanwhile, the political process continues and from a political (timing) point of view this week will be critical. The ultimate goal is to reach a first reading agreement under the Danish Presidency, which is due to finish at the end of this week.

EVCA continues to engage key policy makers directly involved in the trialogues not only to rebut the depositary requirement, but also to raise the industry’s concerns regarding other issues of importance, such as the thresholds for qualifying and non-qualifying investments, the definition of qualifying portfolio undertaking and the scope for eligible investors.

• read more
• read more

• Die Manager von Private-Equity-Fonds (GPs) müssen Transparenz und Risikomanagement weiter verbessern
• Drei Viertel der institutionellen Private-Equity-Investoren (LPs) sind der Auffassung, dass sich die europäische Wagniskapitalbranche nur durch staatliche Interventionen erholen kann
• Nach Ansicht der LPs müssen ihre Interessensverbände wie die Institutional Limited Partners Association (ILPA) mehr zur Verteidigung von Private Equity tun
• Die Hälfte der LPs meint, dass sich die steigende Zahl separater LP-Konten negativ auf Private Equity auswirkt

Gemäss dem neuesten Global Private Equity Barometer von Coller Capital rechnen institutionelle Investoren (Limited Partners, LPs) damit, dass sich in den nächsten drei bis fünf Jahren der Anteil von Private Equity in den Anlageportfolios erhöhen wird, wobei 42% der LPs eine Erhöhung und 19% einen Rückgang erwarten. Sie sind zugleich der Ansicht, dass sowohl die LPs als auch die Fondsmanager (General Partners, GPs) und ebenso die Regierungen ihre Einstellungen und ihr Verhalten gegenüber der Branche ändern müssen.

• Medienmitteilung

On 11/06/12 CNP Assurances SA announced that it has created a new joint venture company with Swiss Life Holding AG. The new company is called Groupe Assuristance and is an insurance holding company which will hold 100 per cent of Filassistance International and Garantie Assistance. The joint venture is owned 66 per cent by CNP with Swiss Life holding the remaining 34 per cent. Source: Zephyr

On 22/06/12 it was announced that nebag AG, a Zurich, Switzerland-based small and midcap investment services provider is conducting a rights issue. Nebag intends to issue up to 2,839,685 new shares at CHF 4.6, valuing the transaction at a maximum of CHF 13,062,551. Shareholders in the company can subscribe for one new share for every 2 share they currently hold in the company. Shares that have not been subscribed for will be offered to existing and new investors at a maximum of CHF 9.96. The exact price will be announced once the offer period, which will run from 27/06/12 until 06/07/12 at 12 pm CET, has ended. The new shares are expected to start trading on 18/07/12. Source: Zephyr

On 16/06/12 it was announced that Roche Finanz AG has divested a 1.32 per cent stake in Basilea Pharmaceutica AG, a Basel, Switzerland-based pharmaceuticals and drugs discovery and development company. Based on Basilea's 9,587,571 shares in issue, the 1.32 per cent stake represents 126,556 shares. Given the closing share price of CHF 44.05 per share on 15/06/12, the last trading day before the announcement, the deal can be valued at around CHF 5,062,240. Roche still holds a 4.98 per cent stake in the company. Source: Zephyr

On 15/06/12 it was reported that Kraft Foods Italia SpA, a Milan, Italy-based coffee, tinned foods, cheese and sauces manufacturer, is selling its canned meat and fish products manufacturing brand Simmenthal. Kraft wants to raise EUR 100 million from this sale. Bolton Group BV, Bell Schweiz AG and Gallina Blanca SA are reportedly interested bidders. Source: Zephyr

On 19/06/12 it was announced that on 18/06/12 Ascom Holding AG acquired the Nurse Call business from GE Healthcare Inc., a transformational medical technologies and services company. The Nurse Call business has its main office in Bradenton, Florida. Financial details of the transaction were not disclosed. Source: Zepyhr

Deloitte's third annual survey of trends in M&A and Corporate Development combines input from more than 300 professionals and highlights the perspectives of five notable players who sat down with us for in-depth interviews. The findings explore how corporate development teams are handling the external and internal pressures they face to deliver value.

Highlights include:

• Structuring your corporate development function for success
• Strategic alliances — synchronizing for success
• Driving value through divestitures
• The Board's role in M&A
• Lessons in discipline and the impact of activist investors

On 21/06/12 it was announced that Implenia AG will acquire Locher Bauunternehmer AG, a Zurich, Switzerland-based construction services provider, from Locher AG Zurich Holdinggesellschaft. The deal is expected to complete at the beginning of July 2012. Source: Zepyhr

Global audit, tax and advisory business KPMG has agreed terms for the acquisition of BrainNet Supply Management Group, a Swiss firm providing supply chain management consultancy services.

The purchase is expected to enhance the buyer’s member firms’ existing capability in global supply chain design and optimisation capabilities while simultaneously enabling the firm to offer a wider range of services. Source: Zephyr

Mark Goodburn, global head of advisory at Netherlands-based KPMG said: “With the acquisition of BrainNet, KPMG will have an even greater depth of knowledge and global footprint to help member firm clients navigate their most complex supply chain challenges and opportunities.”

Christian Rast, chief executive of BrainNet continued: “The combination of our strengths in SCM and procurement creates a market-leading offering to meet the needs of global clients.

“We feel confident that the combination of our strategic and technical expertise along with KPMG’s international footprint will greatly enhance our efficiency, innovation and competitive advantage.”

KPMG is making the acquisition through its German division. BrainNet is based in St. Gallen and according to its website, is an international leader in the supply chain management consultancy sector. The company employs around 300 people and has more than 500 customers worldwide, including over 100 Fortune 500 companies.

On 08/06/12 it was reported that Netzsch-Feinmahltechnik GmbH has acquired the Low Pressure Nanogenizer (LPN) business from AC Serendip AG, a Walchwil, Switzerland-based homogenizer and mixers dispersion technology manufacturer. Source: Zephyr

US drug store chain Walgreen has agreed to purchase a 45.0 per cent stake in Swiss pharmacy-led health and beauty group Alliance Boots.

The companies hope to combine their strengths and expertise to create a new entity that would be a world leading health and wellbeing business and the first of its kind to operate on a global scale. Under the terms of the agreement, Walgreens will pay USD 6.70 billion for the stake. Commenting on the deal, Stefano Pessina, executive chairman of Alliance Boots said: “This strategic transaction represents a further vital step in achieving our vision of becoming a global healthcare leader. Source: Zephyr

On 21/06/12 it was reported that Finsector AG is planning to launch an offer to acquire all remaining 27,212 shares, representing a stake of 23.46 per cent, of Tehnoservis AS, a Belgrade, Serbia-based hotel accommodation services provider. The offer price was not published but based on the latest closing share price of RSD 439 on 20/10/11, the deal can be valued at RSD 11,946,068. Source: Zephyr

On 20/06/12 it was announced that on 18/06/12 Valmont Group Holding SA (Valmont) has acquired Il Profumo Srl, a Reggio Emilia, Italy-based perfume manufacturer and retailer. Financial terms were not disclosed. Source: Zephyr

On 08/06/12 it was announced that on 22/05/12 Tranzistor Systems Inc., a wholly-owned subsidiary of Star Entertainment Group Inc. completed the acquisition of NINJ GmbH, a Zurich, Switzerland-based custom mobile games and applications developer. The consideration was settled via the issuance of approximately USD 3 million in new preferred shares by Star Entertainment to NINJ shareholders. Source: Zephyr

On 19/06/12 it was reported that Upasa Holding AG, a Zurich, Switzerland-based medical and pharmaceutical business holding company has given an excess option of 50 per cent of its shareholding to an unknown individual from India. The consideration was not disclosed. Source: Zephyr

On 11/06/12 it was reported that Aevis Holding SA (formerly Genolier Swiss Medical Network) plans to acquire Swiss Healthcare Properties, a real estate development services provider based in Baar, Switzerland. The consideration will be settled via the issuance of 5.6 million shares in Aevis at CHF 5 apiece, giving a total deal value of CHF 28 million. Swiss Healthcare Properties (SHP) shareholders will receive 1.4 Aegis' shares for every 1 share they hold in SHP. Based on Aegis' 7,078,479 shares in issue and the enlarged share capital of 12,678,479 SHP shareholders HR Finance & Participations SA and EMER Holding SA will hold a 44.169 per cent stake in Aegis once the deal completes. Aegis will propose the issuance of the new shares in an extraordinary general meeting on 02/07/12. No further details have been disclosed. Source: Zepyhr

On 20/06/12 it was announced that Credit Mediterranee SA, belonging to Mr Kirsan Ilyumzhynov, has acquired 52.5 per cent in Petrol Holding AD, a Varna, Bulgaria-based holding company service provider, from Mr Aleksander Melnik and Mr Denis Yershov. Mr Aleksander Melnik has sold 5 per cent of shares and Mr Denis Yershov - 47.5 per cent. The value of the deal was not disclosed, but the analysts think that the value of 52.2 per cent stake might reach USD 105 million, based on the fact that the whole company is valued at USD 200 million. The remaining 47.5 per cent are in the procession of Mr Mitko Sabev. It was also stated that Mr Kirsan Ilyumzhynov is intending to increase his stake in the company to 100 per cent. Source: Zepyhr

Als Teamergänzung im Bereich M&A suchen wir eine hoch motivierte, kommunikative und dienstleistungsorientierte Nachwuchskraft als Junior Project Manager M&A.

• Stelleninserat

On this place your Job ad could be published.

If you are interested please send an e-mail with you Job Ad, the company logo and a short description about the Job and/or the Company to Andrea Villiger.

• for SECA Members CHF 100.- CHF / 2 Weeks
• for Non-Members CHF 200.- / 2 Weeks

10 to 12 September 2012, Cannes

In September 2012, over 300 of Europe’s top LPs and GPs will make their way to sunny Cannes on the French Cote d'Azur for the 12th annual Capital Creation conference.

Join over 300 LPs and GPs at Europe’s premier private equity conference for senior venture capital professionals. With an exclusive audience, more LPs attending than ever before and our best agenda content yet, you can’t afford to miss the 12th Capital Creation private equity conference.

SECA Member receive a discount of 10%.

• Trend Luncheon: Unternehmenswert von Marken-Unternehmen steigern
  Mittwoch, 19. September 2012
  Zürich, Au Premier
• SECA Evening Event (Legal & Tax)
  Wednesday, 26 September 2012, 17.00 – 19.00,
  Zurich, Widder Hotel
• SECA Evening Event (Corporate Finance)
  Wednesday, 17 October 2012, 17.00 – 19.00,
  Zurich, Widder Hotel
• Top 100: Die besten Startups der Schweiz 2012
  Monday, 29 October 2012, 17.00 – 20.00,
  Zurich, Maag Halle (Härterei)
• SECA Evening Event (Seed Money & Venture Capital)
  Wednesday, 7 November 2012, 17.00 – 19.00,
  Zurich Widder Hotel
• SECA Evening Event (Outlook 2013)
  Wednesday, 12 December 2012, 17.00 – 19.00,
  Zurich Widder Hotel

• 6. Intensiv-Seminar Mergers & Acquisitions
  25./26.09.12, Luzern
• SuperReturn Ermeging Markets 2012
  25 to 28.06.2012, Geneva
• Petit déjeuner des PME & start-up
  06.07.12, Paudex
• 38th Swiss Venture Day
  05.09.12, Zurich
• Capital Creation 2012
  10 to 12 September 2012
• NZZ Equity cleantech day
  23.10.12, Zürich
• CTI Invest - 9th CEO Day
  24.10.12, Bern
• 39th Swiss Venture Day
  05.12.12, Zurich

SECA eNewsletter is a free online newsletter published by Maurice Pedergnana, Managing Director of the SECA Swiss Private Equity & Corporate Finance Association, received by more than 3'000 email addresses. More information: www.seca.ch or +41 41 757 67 77 (Andrea Villiger). The eNewsletter archive service is available only for SECA members.