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Cvg presentation oct 2012

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  • 1. Impact Resource Management Bliss Firm Overview
  • 2. Firm Summary•ABKC, predecessor firm, founded in 2004 by Alexander B. Kasdan•Private middle-market advisory investment banking firm•Big firm expertise and capabilities for the middle market•Proven track record and commitment to client service•Collective expertise: mergers and acquisitions, corporate finance, restructuring, law, real estate•“Senior Advisors for Senior Transactions”
  • 3. Firm Summary•Convergence partners have significant corporate finance, M&Aand research expertise•15years plus each at major Wall Street investment banks andleading corporate law firms•Alex Kasdan served as Associate General Counsel at SchlumbergerLtd., a Fortune 100 company, overseeing acquisition anddivestiture activity
  • 4. Firm Summary•Collective expertise: valuation, corporate finance, mergers and acquisitions, distressed analysis, restructuring, real estate•Businesses in transition•Distressed companies / bankruptcies•Bondholders and shareholders committee representation•Acquisitions and divestitures•Debt and equity financing•Real estate and structured finance•Cross-Border Advisory
  • 5. Firm SummaryPaul Hastings
  • 6. Selected Representative Clients• Schlumberger Ltd.* • Griffin Land & Nurseries, Inc.*• Phillips-Van Heusen Corporation* • Placer Dome*• Lukoil* • KubanElectrosvyaz*• ORT* • Valley Federal Savings Bank*• Media-Most, NTV* • First Australia Prime Income Fund*• StoryFirst Communications* • The Putnam Funds*• Paxar Corporation* • Elan Pharmaceutical*• Furr’s Supermarkets* • Panoz Automotive*• The Penn Traffic Company* • Advanced Health Corporation*• Warnaco Group, Inc. (Bank Steering • Universal Stainless & Alloy Products, Inc.* Committee)* • Solvalub Ltd.*• Opal Concepts, Inc.* • Chase Capital Partners*• Fantastic Sams* • Chemical Venture Partners*• Kalmbach Publishing Co.* • Florida Capital Partners* * Clients of Convergence principals while at other firms.
  • 7. Selected Representative Clients• Quatar Investment Authority/Fisker • Guess?, Inc.* Automotive* • Merrill Lynch/Hewlett Packard*• Gold Star Foods, Inc.* • Merrill Lynch/SunAmerica Inc.*• CSK Auto, Inc.* • Occidental Petroleum Corporation*• Mandalay Resort Group* • CSFB/The Titan Corporation*• UniSource Energy Corporation* • DLJ/HAD Parts System, Inc.*• Kohlberg Kravis Roberts (KKR)* • Global Crossing Ltd.*• UnitedGlobalCom, Inc.* • Cendant Corporation*• UPC Polska Inc.* • Insight Enterprises, Inc.*• American Industrial Partners* • Fox, Inc.*• O’Sullivan Industries * Clients of Convergence principals while at other firms.
  • 8. Industry Coverage• Staffing • Petrochemicals• Retail and Supermarkets • Healthcare• Branded Consumer Products • Real Estate• Apparel • Gaming and Lodging• Business Services • Technology• Food • Vitamins and Supplements• Building Products • Publishing• Industrial Manufacturing • Distribution• Media and Telecommunications • Construction
  • 9. Services• Strategic and Pre-Transaction Advisory• Business Valuations• Mergers, Acquisitions and Divestitures• Debt and Equity Financing• Restructuring• Real Estate Solutions• Structured Finance• Cross-Border Advisory
  • 10. Selected Recent Transactions• Independent business valuation in adverse market conditions and under lender pressure• Rendered valuation opinion and advisory to the Board of Directors
  • 11. Selected Recent Transactions• 2010 - toughest market environment in decades• Sale to an East Coast-based strategic acquirer at above-market 7.5x EBITDA• Employment contract and incentive package for seller-owner• Owner continues to run the business for HowardBerger Company
  • 12. Selected Recent Transactions• Distressed company sale to a private equity financial buyer• Strategic deal• Section 363 bankruptcy sale• Transaction completed in record time – 3 months
  • 13. Selected Recent Transactions• Sale to a strategic buyer• Owner continued to run the business for SelectRemedy• “Happy to serve as client reference in a win-win strategic acquisition.” Patty DeDominic Founder and CEO of PDQ Personnel
  • 14. Selected Recent Transactions
  • 15. Selected Recent Transactions
  • 16. Selected Recent Transactions
  • 17. Selected Testimonials“We consider the Convergence team to be thorough, smart andaggressive. Ore Hill will certainly consider you again for futureassignments.” John Irish, Partner/Director of Research Ore Hill Capital“Alex Kasdan stepped into a difficult, time-sensitive and precarioussituation and played a pivotal role in facilitating a transaction thatprovided substantially greater value that any other availablealternative."  David Kupetz, Partner SulmeyerKupetz"On a difficult transaction, Alex Kasdan was creative, thorough andaggressive. He anticipated issues before they arose and was responsive andthere when we needed him. He ran a very successful 363 auction, underextreme time pressure, while managing multiple constituencies. Its hard toimagine anyone doing a better job in the distressed m&a space than Alex.” Jim Baer Partner, Baer & Troff, LLP Responsible Officer, eStyle, Inc.
  • 18. Selected Testimonials (cont.)“Convergence delivered smart, out-of-the-box thinking and flawlessexecution -- from identifying the right funding source to getting thedeal (a complex acquisition and debt/equity financing) closed.  All ofthis in a very challenging market environment.   We would highlyrecommend the Convergence team to other companies for their M&Aand financing advisory needs.”  Ron Vaisbort, CEO Manana Media, Inc.“In fulfilling the engagement in a timely manner Convergencedemonstrated significant expertise in valuing businesses in financialdistress as well as a deep understanding of the industry and marketdynamics. Principals of Convergence are professional, experienced andtenacious. They have consistently provided my firm with the highestquality of work which was thoroughly researched, well documentedand as importantly, delivered on time. Moreover, I found the principalsto be extraordinarily knowledgeable, engaging and helpful.If you are looking for an excellent investment banking firm, I believethat Convergence can provide the service you seek.” Lawrence D. Bain, Chairman ProLink Solutions, LLC
  • 19. Selected Testimonials (cont.)“Happy to serve as client reference in a win-win strategic acquisition. Patty DeDominic Founder and CEO of PDQ Personnel“Alex’s business insight and financial acumen have been of tremendousvalue to APS Assist.  His experience and skills enable him to providecritical insights.” Joe Reyes, Chief Executive Officer, APS Assist, Inc.“Alex undertook a project for a client of ours and did so with thehighest level of professional skill and expertise. Although the projectdid not consummate, for entirely unrelated reasons, I was veryimpressed with the manner in which Alex handled the conceptual,strategic and technical aspects of the project as well as his ability to dealwith challenging client personalities.I consider Alex to be one of the most talented professionals in hisindustry in the Los Angeles area, and I would not hesitate for a momentto continue to refer clients to him.” Tim C. Bruinsma Partner, Fulbright & Jaworski L.L.P
  • 20. Principals’ Backgrounds
  • 21. Alexander B. Kasdan is a Founding Partner of Convergence Capital Partners, LLC and itspredecessor company, ABKC.  He has more than seventeen years of investment banking, real estate,corporate law and corporate strategy experience. Since 1988, Mr. Kasdan has executed over 100domestic and cross-border transactions totaling more than $10 billion in overall volume in a varietyof industries. Prior to founding Alexander B. Kasdan Company Limited, Mr. Kasdan was aninvestment banker at Barrington Associates in Los Angeles, where he headed the restructuringgroup, Peter J. Solomon Company, Credit Suisse First Boston and Merrill Lynch.Mr. Kasdan practiced law with O’Melveny & Myers LLP (formerly O’Sullivan Graev & KarabellLLP) and Paul, Hastings, Janofsky & Walker LLP (formerly Battle Fowler LLP), where hespecialized in mergers and acquisitions, private equity and corporate finance transactions.  Inaddition, Mr. Kasdan served as Corporate Counsel in charge of business development atSchlumberger Ltd., a global oilfield and information services company.Mr. Kasdan graduated magna cum laude from Middlebury College with a B.A. degree in Economicsand Italian and was elected to Phi Beta Kappa during his junior year. In addition, he holds a J.D.degree from Columbia University Law School and has studied at the University of Florence in Italy.Mr. Kasdan is admitted to the Bar in the State of New York.Mr. Kasdan is a Senior Advisor to Governance and Transactions LLC, an advisory firm establishedin 2003 by Mr. James L. Gunderson, former Secretary and General Counsel of SchlumbergerLimited, to assist boards, management and owners with corporate governance, compliance,structuring and strategic transactions.Mr. Kasdan is a frequent speaker on the subject of mergers and acquisitions, corporate finance andrestructuring, including as organizer of the Conference at the Anderson School at UCLA on "Buyingand Selling a Company in a Tough Economy - How to Optimize Price and Liquidity in a BuyersMarket." Mr. Kasdan has published articles on the subjects of mergers and acquisitions andcorporate finance.
  • 22. Howard Liberson is a Senior Advisor to Convergence Capital Partners, LLC.Mr. Liberson has a very broad background in law, finance, accounting, and entrepreneurialventures.  He began his legal career as a post-graduate law clerk to the Honorable James M.Ideman of the U.S. District Court for the Central District of California.  As a law clerk, Mr.Liberson assisted the Judge in all civil trial aspects including review and analysis ofpleadings, motions, and proposed orders, as well as conducting pre-trial settlementconferences and drafting court orders.  Mr. Liberson subsequently worked with the law firmsof Skadden, Arps, Slate, Meagher & Flom LLP and Morrison & Foerster LLP as a corporateattorney and litigator, respectively. After practicing law, Mr. Liberson became an investment banker at Credit Suisse FirstBoston.  Mr. Liberson has extensive experience in several industries, and has advised clientsand executed transactions ranging from mergers, acquisitions, and debt and equity capitalraises to venture capital financings, bank financings, and restructurings.  Mr. Liberson hasworked on over 40 transactions totaling in excess of $25 billion.Most recently, Mr. Liberson was the CFO and a founder of American Discovery – the globalleader of legal document review and research services.  Before practicing law, Mr. Libersonworked as a Certified Public Accountant for an accounting firm in Chicago.Mr. Liberson is a graduate of The Wharton School of Business, University of Pennsylvania(MBA with Honors); Loyola Law School, Los Angeles (Order of the Coif, Dean’s Scholar,Law Review Executive Board member); and UCLA (BA in Economics – Business, Honorsgraduate). He holds Series 7 and 63 licenses from the NASD, is a member of the State Bar ofCalifornia and the Los Angeles County Bar Association, and was previously a member of theAmerican Institute of Certified Public Accountants.
  • 23. James L. Gunderson is a Senior Advisor to Convergence Capital Partners, LLC.Mr. Gunderson is owner and chief executive of Governance and Transactions LLC, an advisory firmhe established in 2003 to assist boards, management and owners with governance and complianceissues, particularly in connection with strategic transactions and industry changes. Typical clients areleading companies in the oil and gas or high technology equipment industries, including companieslisted on the major US and European exchanges, as well as private equity owned businesses.Mr. Gunderson spent 18 years with Schlumberger Limited (www.slb.com), including nine yearsbased in Paris and three years as Secretary and General Counsel. He was actively involved inSchlumberger’s expansion in international drilling in the mid-1980s and subsequent exit of thatbusiness in 1999, and Schlumberger’s exit of high technology manufacturing businesses in the late1980s and 1990s followed by its entry into system integration in 2001. He played a leading role in thestrategic planning, management integration, and changes in governance associated with many ofthose transactions. At Schlumberger Mr. Gunderson was instrumental in implementing best practicesin listed company board governance, corporate social responsibility, and international legalcompliance.Mr. Gunderson subsequently served as General Counsel of Vetco International (www.vetco.com)before its sale to GE in early 2007. While there he focused on pre-IPO private company governanceand foreign corrupt practices act compliance.Mr. Gunderson is Chairman of the National Association of Corporate Directors’ New York Chapter(www.nacdny.org) and co-developed one of the NACD’s national governance courses. He has been a frequentspeaker at national and international governance, law and business conferences, and a guest speaker at law andbusiness schools in various parts of the world. Mr. Gunderson has written extensively on corporate governancefor Oil, Gas and Energy Law Intelligence (www.gasandoil.com/ogel), and other publications. Mr. Gundersonreceived a BA degree in philosophy from the University of California, Santa Cruz, and a JD from theUniversity of California, Hastings College of the Law. He has participated in executive education courses infinance and strategic planning at Insead, NYU and Wharton.
  • 24. Lawrence N. Hurwitz, Senior Advisor, was born in Austin, TX, andattended the University of Texas and Harvard Graduate School,receiving his MBA and matriculating into the doctoral program.After graduate school, Lawrence went to Wall Street and was active ininvestment banking. He also served as CEO of his family business, achain of retail stores.Mr. Hurwitz moved to Los Angeles in 1990 and founded LawrenceFinancial Group, a California investment banking firm. Since itsfounding, Lawrence Financial has provided approximately $7 billion infinancing for several hundred California companies. Loans have beenprovided on accounts receivable, inventory, equipment and real estate.Other areas of specialization have been purchase order financing andraising funds on intellectual properties such as brands and trademarks.Mr. Hurwitz lives in Brentwood and has two children.
  • 25. Anna Spektor is Director of Marketing and Business Development.Ms. Spektor is the Founder of Expert Presence, LLC, a national strategy and businessdevelopment advisory firm that develops and implements specialized and cost-effective programs for professional services firms in law, accounting, financialservices and other fields.Prior to founding Expert Presence, Ms. Spektor served as Director of BusinessDevelopment with Smart Marketing, Inc, an attorney and financial services marketingfirm, and Director of Business Development and Community Relations for Wachbrit& Associates, PC., a Southern California estate planning firm, where she spearheadedmarketing, business development and public relations.Ms. Spektor also held a position of Business Development / Commercial LendingOfficer with National Bank of California.Ms. Spektor received a Bachelor’s Degree in Economics from California StateUniversity-Northridge..
  • 26. ContactConvergence Capital Partners, LLC1801 Century Park East, 24th FloorLos Angeles, CA 90067USA1.310.770.1327 phone1.310.496.2434 faxwww.cvgpartners.cominfo@cvgpartners.com