For further information contact mergermarket Regional Head Offices Europe: 80 Strand, London WC2R 0RL United Kingdom – tel: +44 (0)20 7059 6100 North America: 895 Broadway #4, New York, NY 10003 USA – tel: +1 212-686-5606 Asia-Pacific: Suite 2001, Grand Millennium Plaza, 181 Queen’s Road, Central, Hong Kong – tel: +852 2158 9700 Visit us at: www.mergermarket.com Indian buyers: an opportunity for European Companies?
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For further information contact mergermarket
Regional Head OfficesEurope: 80 Strand, London WC2R 0RL United Kingdom – tel: +44 (0)20 7059 6100
North America: 895 Broadway #4, New York, NY 10003 USA – tel: +1 212-686-5606Asia-Pacific: Suite 2001, Grand Millennium Plaza, 181 Queen’s Road, Central, Hong Kong – tel: +852 2158 9700
Visit us at: www.mergermarket.com
Indian buyers: an opportunity for European Companies?
02/12/07www.mergermarket.com
Summary
- About mergermarket
- M&A in Europe: Data and Trends
- M&A between European companies and Indian buyers
- League tables
- Case Studies (Fondalmec; Bellora and Zoom Developers)
- Q&A Session
02/12/07www.mergermarket.com
About mergermarket
Unique M&A service focused on actionable proprietary intelligence
Long term M&A strategic intelligence from 200+ journalists
Intelligence from over 2,000 public sources
Extensive historical deals database
The most comprehensive view of any potential or announced M&A event.
02/12/07www.mergermarket.com
About mergermarket
92,000 individual users from over 1,200 institutions
Senior M&A practitioners
Heads of M&A
Partners
CEOs
Investment banks, law firms, private equity firms and corporates
Global reach:
M&A specialists in 56 locations across Europe, the Americas, the Middle East, Africa and Asia-Pacific
02/12/07www.mergermarket.com
mergermarket Intelligence Timeline
MONTHS24 013-6
Deal Announcement
AdvisorsAppointed
Deal Completion
3
02/12/07www.mergermarket.com
02/12/07www.mergermarket.com
Summary
- About mergermarket
- M&A in Europe: Data and Trends
- M&A in India: Data and Trends
- League tables
- Case Studies (Fondalmec; Bellora and Zoom Developers)
European Companies bought by Indian players 2006 Q3 by Geography
First three quarters 2006
Denmark3%
Portugal3%
Belgium10%
Finland11%
Germany11%
Poland3%
UK29%
Hungary3%
Romania3%
Italy3%
Spain7%
France7%Sweden
7%
UK
Germany
Finland
Belgium
Sweden
France
Spain
Denmark
Portugal
Italy
Romania
Hungary
Poland
02/12/07www.mergermarket.com
European Companies bought by Indian players 2007 YTD by Sector
SECTOR 2007
Industrials51%
Computer16%
Consumer9%
Services9%
Medical9%
TMT6%
Industrials
Computer
Consumer
Services
Medical
TMT
02/12/07www.mergermarket.com
European Companies bought by Indian players 2006 YTD by Sector
SECTOR 2006
TMT3%
Consumer17%
Medical 13%
Leisure3%
Transportation3%
Industrials 34%
Computer27%
Industrials
Computer
Consumer
Medical
Leisure
Transportation
TMT
02/12/07www.mergermarket.com
Summary
- About mergermarket
- M&A in Europe: Data and Trends
- M&A in India: Data and Trends
- League tables
- Case Studies (Fondalmec; Bellora and Zoom Developers)
- Q&A Session
02/12/07www.mergermarket.com
Top 10 Financial Advisers to EU M&A Q1 - Q3 2007
02/12/07www.mergermarket.com
Top 10 Financial Advisers to EU M&A Q1 - Q3 2006
02/12/07www.mergermarket.com
Top 10 Legal Advisers to EU M&A Q1 - Q3 2007
02/12/07www.mergermarket.com
Top 10 Legal Advisers to EU M&A Q1 - Q3 2006
02/12/07www.mergermarket.com
Top 10 Financial Advisers to Indian M&A Q1 - Q3 2007
02/12/07www.mergermarket.com
Top 10 Financial Advisers to Indian M&A Q1 - Q3 2006
02/12/07www.mergermarket.com
Top 10 Legal Advisers to Indian M&A Q1 - Q3 2007
02/12/07www.mergermarket.com
Top 10 Legal Advisers to Indian M&A Q1 - Q3 2006
02/12/07www.mergermarket.com
Top 10 Financial Advisers to EU targets and Indian bidders Q1 - Q3 2007
02/12/07www.mergermarket.com
Top 10 Financial Advisers to EU targets and Indian bidders Q1 - Q3 2006
02/12/07www.mergermarket.com
Top 10 Legal Advisers to EU targets and Indian bidders Q1 - Q3 2007
02/12/07www.mergermarket.com
Top 10 Legal Advisers to EU targets and Indian bidders Q1 - Q3 2006
02/12/07www.mergermarket.com
Top 10 Financial Advisers to Indian targets and EU bidders Q1 - Q3 2007
02/12/07www.mergermarket.com
Top 10 Financial Advisers to Indian targets and EU bidders Q1 - Q3 2006
02/12/07www.mergermarket.com
Top 10 Legal Advisers to Indian targets and EU bidders Q1 - Q3 2007
02/12/07www.mergermarket.com
Top 10 Legal Advisers to Indian targets and EU bidders Q1 - Q3 2006
02/12/07www.mergermarket.com
Summary
- About mergermarket
- M&A in Europe: Data and Trends
- M&A in India: Data and Trends
- League tables
- Case Studies (Fondalmec; Bellora and Zoom Developers)
- Q&A Session
02/12/07www.mergermarket.com
Fondalmec bought by Endurance: Deal Description
5 June 2007
Endurance Group, the Indian manufacturer of casting, suspension, transmission and braking products for the automotive industry, has acquired Fondalmec Officine Meccaniche Spa, the Italian manufacturer of automobile components, for an undisclosed consideration. Fondalmec group generated annual sales of EUR 73m* for the year 2007. The acquisition is in line with Endurance’s strategy to strengthen its position globally in the aluminium die-casting and machining sector by the year 2012. It will also generate additional business for Endurance in the European market and provide it with access to latest technology.
* group sales turnover in 2007 (Fondalmec and Fondpress)
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Fondalmec: presentation
02/12/07www.mergermarket.com
Fondalmec group core business
Metal cutting machining and assembly of different alloy components in aluminium, cast iron and forged steel;
Die casting automotive components production in Fondpress (HPDC plant);
Fondalmec was founded in 1976 as a mechanical workshop for mass production of parts for the industrial vehicle and earth movers market sector;
Within a few years the company entered into the automotive market and became a supplier for European OEM.
02/12/07www.mergermarket.com
Fondalmec Turnover evolution
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Transaction from Fondalmec point of view
- Banca Aletti mandated to look for a partner in June 2006;
- Aletti contacted Endurance in July 2006;
- Fondalmec management meet Endurance in November 2006;
- Role of Fiat;
- Letter of Intent signed in December 2006;
- Corporate Governance agreements;
- Due Diligence and role of advisers (Studio Legale Ferreri and Deloitte);
- Conclusion.
02/12/07www.mergermarket.com
Endurance Technologies
02/12/07www.mergermarket.com
Endurance point of view
- Endurance mandated KPMG in 2006 to look for targets;
Point of view of an Indian private equity firm: Zoom Developers Acquisition in 2004 of Nissan Motors' plastic fuel tank facilities in
Newcastle and transfer the manufacturing base to India
Buy out of advanced tech facilities; looking at acquisitions where it can either turn around the company or shift the manufacturing base to India.
Appointment of PWC or E&Y or KPMG to look for buys,
Attend trade fairs and happening in Europe; Germany, UK and Italy areas of interest
Looking at sectors where there are limited players in the market.
Hurdles
Note: with the contribution of Freny Patel
02/12/07www.mergermarket.com
Bellora bought by Himatskingka Seide: deal description29 January 2007
Himatsingka Seide, the Indian textiles player, has entered into a deal for 70% stake in Giuseppe Bellora (Bellora), the Italian bed-linen company. The transaction is expected to be completed in February 2007. During 2006, Bellora generated revenues of about EUR 29m. Established in 1883, the Bellora brand is a pan-European luxury brand in the bed-linen segment
With this synergy Bellora wants to spread its brand globally and reconfirm itself as a leader at the top level of the home textiles branch.
The strategy bets on the developement of its Flagship shops and corner network into major luxury department stores worldwide
During the past four years Bellora increased its sales point from 20 to 80 worldwide. The new target is to overcome 100 p.o.s. within the next two years.
www.mergermarket.com
The company is organised in two main sections: •the Bellora Brand Division •the Industrial and Hotellerie Division ( private labels for major bed linen designer and full hotel equipment)
The Bellora Brand Division70% of the company total turnover With over 50 own looms in Italy and abroad it supplies the production of a wide range of textile products.65% of the production is represented by bed linen in pure linen, in linen cotton blend and in the finest quality of cotton percale and satin25% by bath articles5% by table clothing5% by home couture accessories. It is led by Angelo Cosmaro, Sales Manager since 1994. After reorganizing the italian market, he started to export the brand that under his command developed into one of the most prestigious names in bed linen industry worldwide.
The Industrial Division30% of the company total turnoverThis part of the company has supplied the most prestigious home linen private label collections (Armani Casa, Bloomingdale’s, Descamps, Delorme, Frette, Porthault). The Hotellerie DivisionThe core business of Bellora’s hotel division are luxury – and- boutique hotels.Bellora is the nominee supplier of Bulgary Hotels as well as for many luxury establishment in wellness and hospitality institutions.
02/12/07www.mergermarket.com
Bellora point of view: Discussion with Giuseppe Bellora
Company situation in 2000; industry outlook Mandate to Mediobanca and GEA 2003: Bellora sells 40% to Riello 2003-2005: years of industrial relaunch, while Riello weighs exit
strategy First contacts with Himatskingka Seide, while other competitor
approaches Bellora February 2006: Bellora sells 70% stake to Himatskingka Seide Corporate Governance agreement Role of Giuseppe Bellora