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  1. 1. H OULIHAN L OKEY H OWARD & Z UKIN Investment Banking Services New York  Los Angeles  Chicago  San Francisco  Washington, D.C.  Minneapolis  Dallas  Atlanta  London
  2. 2. I NTRODUCTION TO H OULIHAN L OKEY
  3. 3. I NTRODUCTION TO H OULIHAN L OKEY <ul><li>Founded in 1970, Houlihan Lokey is a major provider of specialized investment banking services worldwide </li></ul><ul><li>Largest Business Valuation Firm in U.S. </li></ul><ul><li>Largest Financial Restructuring Firm in the world </li></ul><ul><li>Largest Middle Market M&A Firm in the U.S. </li></ul><ul><li>Over 500 employees </li></ul><ul><li>Nine offices in the U.S. and the United Kingdom </li></ul>
  4. 4. I NTRODUCTION TO H OULIHAN L OKEY Company History 1970 Business Appraisal Services 1976 Financial Advisory Services 1987 Investment Banking Services 1988 Financial Restructuring Services 1998 Sunrise Capital Partners 1999 Century Park Capital Partners 2002 London Office Opened 1993 Merchant Banking Services
  5. 5. I NTRODUCTION TO H OULIHAN L OKEY Employee Headcount
  6. 6. <ul><li>Houlihan Lokey is a leading investment banking firm providing a broad range of services to our clients. </li></ul>I NTRODUCTION TO H OULIHAN L OKEY #2 Advisor in Transactions Under $1 Billion #1 Advisor in Transaction Under $150 Million #1 Provider of Fairness Opinions Largest Global Restructuring Practice Dedicated Equity Funds Corporate Finance <ul><li>Sell-Side M&A </li></ul><ul><li>Buy-Side M&A </li></ul><ul><li>Strategic Alternative Assessments </li></ul><ul><li>Private Placements </li></ul><ul><li>Leveraged and ESOP Buyouts </li></ul><ul><li>Cross Border Advisory </li></ul>Financial Advisory <ul><li>Fairness Opinions </li></ul><ul><li>Business & Securities Valuation </li></ul><ul><li>Purchase Price Allocation, Intangible Asset Impairment </li></ul><ul><li>Solvency Opinions </li></ul><ul><li>Dispute Analysis & Litigation Support </li></ul><ul><li>Board of Directors Advisory Services </li></ul>Restructuring <ul><li>Chapter 11 Planning </li></ul><ul><li>Restructuring Debt and Equity </li></ul><ul><li>Debtors-In-Possession Financing </li></ul><ul><li>Exchange Offers </li></ul><ul><li>Distressed M&A </li></ul>Merchant Banking <ul><li>Century Park Capital Partners ($100 MM Equity Fund) </li></ul><ul><li>Sunrise Capital Partners L.P. ($200 MM Distressed Equity Fund) </li></ul><ul><li>Direct Principal investing through Houlihan Lokey, LLC </li></ul>
  7. 7. I NTRODUCTION TO H OULIHAN L OKEY Office Locations
  8. 8. I NTRODUCTION TO H OULIHAN L OKEY Organizational Structure Financial Restructuring <ul><li>Chapter 11 Planning </li></ul><ul><li>Restructuring Debt and Equity </li></ul><ul><li>Debtor-in-Possession (“DIP”) Financing </li></ul><ul><li>Exchange Offers </li></ul><ul><li>Plans of Reorganization </li></ul><ul><li>Distressed Mergers and Acquisitions </li></ul>Houlihan Lokey Howard & Zukin Corporate Finance <ul><li>Sellside Transactions </li></ul><ul><li>Buyside Transactions </li></ul><ul><li>Leveraged Transactions </li></ul><ul><li>Corporate Alliances </li></ul><ul><li>Strategic Alternatives Assessment </li></ul>Financial Advisory <ul><li>Fairness Opinions </li></ul><ul><li>Solvency Opinions </li></ul><ul><li>Board of Directors Advisory Services </li></ul><ul><li>Business and Securities Valuations </li></ul><ul><li>Intangible Asset Valuations </li></ul><ul><li>Dispute Analysis and Litigation Support </li></ul>Merchant Banking <ul><li>Direct Principal Investing </li></ul><ul><li>Sunrise Capital Partners, L.P. ($200 Million Distressed Equity Fund) </li></ul><ul><li>Century Park Capital Partners ($100 Million Control and Non-Control Equity Fund) </li></ul>Mergers and Acquisitions Financing <ul><li>Private Debt and Equity Placements </li></ul><ul><li>IPO Advisory </li></ul>
  9. 9. I NTRODUCTION TO H OULIHAN L OKEY Financial Advisory Financial Restructuring Corporate Finance Total New Engagements Touching almost 1000 companies each year
  10. 10. INTRODUCTION TO H OULIHAN L OKEY <ul><li>Houlihan Lokey has served companies in virtually every major industry: </li></ul><ul><li>Agribusiness </li></ul><ul><li>Airlines & Regulated Industries </li></ul><ul><li>Amusement & Recreation </li></ul><ul><li>Automotive </li></ul><ul><li>Biotech </li></ul><ul><li>Consulting Services </li></ul><ul><li>Defense & Government Technology Services </li></ul><ul><li>Electronics </li></ul><ul><li>Energy & Utilities </li></ul><ul><li>Engineering & Construction </li></ul><ul><li>Facility Services & Security Industries </li></ul><ul><li>Financial Services </li></ul><ul><li>Franchisors </li></ul><ul><li>Gaming </li></ul><ul><li>Healthcare </li></ul><ul><li>Hotels & Resorts </li></ul><ul><li>Insurance </li></ul><ul><li>Jewelry Industry </li></ul><ul><li>Management Consulting </li></ul><ul><li>Manufacturing </li></ul><ul><li>Media, Entertainment & Communications </li></ul><ul><li>Metals </li></ul><ul><li>Packaging </li></ul><ul><li>Paper Products & Containers </li></ul><ul><li>Pharmaceutical </li></ul><ul><li>Plastics </li></ul><ul><li>Printing & Publishing </li></ul><ul><li>Professional Sports Economics </li></ul><ul><li>Real Estate </li></ul><ul><li>Restaurants & Food </li></ul><ul><li>Retail </li></ul><ul><li>Shipbuilding & Ocean Freight </li></ul><ul><li>Technology, Internet Services & Software </li></ul><ul><li>Telecommunications </li></ul><ul><li>Textiles & Apparel </li></ul><ul><li>Toy, Gift & Hobby Goods </li></ul><ul><li>Vineyards & Wineries </li></ul><ul><li>Waste Management </li></ul><ul><li>Wholesale </li></ul><ul><li>Wood Products </li></ul>
  11. 11. H OULIHAN L OKEY S ERVICES
  12. 12. F INANCING <ul><li>Private Debt and Equity Placements </li></ul><ul><li>Initial Public Offering Advisory </li></ul><ul><li>Merchant Banking </li></ul><ul><li>Over $7.3 Billion of Capital Raised Since 1995 </li></ul><ul><li>Currently retained on active engagements totaling over $500 million in capital raised or needed </li></ul><ul><li>In the last 18 months, completed over 50 placements of debt and equity capital to finance strategic acquisitions, industry roll-ups, growth, management buyouts and other leveraged transactions </li></ul>
  13. 13. M ERGERS AND A CQUISITIONS <ul><li>Sellside Transactions </li></ul><ul><li>Buy-side Transactions </li></ul><ul><li>Leveraged Transactions </li></ul><ul><li>Currently retained by approximately 70 companies for M&A advisory services </li></ul><ul><li>Ranked among the top 20 investment banks in dollar value of M&A transactions for the last ten years </li></ul>
  14. 14. M&A R ANKINGS <ul><li>Ranked in the top 20 M&A Advisors in North America for Nine Consecutive Years </li></ul>According to Securities Data Company Ranked #23 Ranked #18 Ranked #18 Ranked #17 Ranked #13 $3.9 Bil. 14 Transactions $7.7 Bil. 23 Transactions $11.1 Bil. 28 Transactions $11.7 Bil. 39 Transactions $34.2 Bil. 64 Transactions $33.3 Bil. 81 Transactions Ranked #11 $39.2 Bil. 83 Transactions Ranked #14 $39.2 Bil. 154 Transactions Ranked #7 $13.7 Bil. 148 Transactions Ranked #4 Ranked #3 $10.7 Bil. 115 Transactions
  15. 15. M&A R ANKINGS & F AIRNESS R ANKINGS Under $100 Million Value Under $500 Million Value Fairness Opinions <ul><li>Under $100 million value </li></ul><ul><ul><li>2002 ranked # 1 </li></ul></ul><ul><ul><ul><li>60 deals </li></ul></ul></ul><ul><ul><ul><li>2.5% market share </li></ul></ul></ul><ul><ul><li>2001 ranked #1 </li></ul></ul><ul><ul><ul><li>77 deals </li></ul></ul></ul><ul><ul><ul><li>3.1% market share </li></ul></ul></ul><ul><ul><li>2000 ranked #2 </li></ul></ul><ul><ul><ul><li>66 deals </li></ul></ul></ul><ul><ul><ul><li>1.9% market share </li></ul></ul></ul><ul><li>Under $500 million value </li></ul><ul><ul><li>2002 ranked #2 </li></ul></ul><ul><ul><ul><li>74 deals </li></ul></ul></ul><ul><ul><ul><li>2.5% market share </li></ul></ul></ul><ul><ul><li>2001 ranked #2 </li></ul></ul><ul><ul><ul><li>97 deals </li></ul></ul></ul><ul><ul><ul><li>3.2% market share </li></ul></ul></ul><ul><ul><li>2000 ranked #3 </li></ul></ul><ul><ul><ul><li>104 deals </li></ul></ul></ul><ul><ul><ul><li>2.4% market share </li></ul></ul></ul><ul><li>Fairness opinions </li></ul><ul><ul><li>2002 ranked #1 </li></ul></ul><ul><ul><ul><li>45 deals </li></ul></ul></ul><ul><ul><li>2001 ranked #1 </li></ul></ul><ul><ul><ul><li>85 deals </li></ul></ul></ul><ul><ul><li>2000 ranked #1 </li></ul></ul><ul><ul><ul><li>110 deals </li></ul></ul></ul>
  16. 16. F INANCIAL O PINIONS AND A DVISORY S ERVICES <ul><li>Fairness Opinions </li></ul><ul><li>Board of Directors Advisory Services </li></ul><ul><li>Valuation Opinions </li></ul><ul><li>Financial Instruments and Securities Valuations </li></ul><ul><li>Equity Incentive Plans </li></ul><ul><li>Dispute Analysis and Litigation Support </li></ul><ul><li>Intangible Asset Valuation </li></ul><ul><li>Goodwill Impairment </li></ul>
  17. 17. F INANCIAL R ESTRUCTURING (“FRG”) <ul><li>Representing Company/Creditors in Out-of-Court and Chapter 11 Restructuring Transactions </li></ul><ul><li>Restructuring Existing Debt and Equity Securities </li></ul><ul><li>Structuring and Negotiating Exchange Offers, Prepackaged and Pre-negotiated Plans of Reorganization </li></ul><ul><li>Distressed M&A Advisory Services </li></ul><ul><li>During the last decade, FRG has facilitated over $30 billion of transactions for more than 300 distressed companies </li></ul><ul><li>FRG clients include both large public companies as well as middle market distressed companies </li></ul>
  18. 18. M ERCHANT B ANKING <ul><li>Century Park Capital Partners, L.P. — A Houlihan Lokey-affiliated private investment fund that engages in long-term, $5-15 million private equity investments in middle-market companies, primarily through recapitalizations, management buyouts, later-stage growth financings and ESOP transactions. In each of these transactions, Century Park is committed to incorporating equity participation and direct investment opportunities for key management, and has the flexibility to assume control or non-control positions. </li></ul><ul><li>Sunrise Capital Partners, L.P. — A private equity fund affiliated with Houlihan Lokey that is focused on acquiring controlling interests in middle market companies undergoing financial distress or related special circumstances. With over $200 million in committed capital, Sunrise Capital seeks to preserve value by funding a company safely through the period of distress, and to enhance value through the commitment of capital and operational resources. </li></ul>H OULIHAN L OKEY H OWARD & Z UKIN I NVESTMENT F UND
  19. 19. Financial Analyst Program
  20. 20. F INANCIAL A NALYST P ROGRAM <ul><li>Generalist focus: Both in terms of industry exposure and Houlihan Lokey service offerings </li></ul><ul><li>Small deal teams normally comprised of an Analyst, Associate and two or three Senior Bankers </li></ul><ul><li>Exposure to Senior Officers and clients </li></ul><ul><li>Significant growth provides expanded responsibilities </li></ul><ul><li>Opportunity to travel domestically and internationally </li></ul><ul><li>Formal off site 3-week training program </li></ul><ul><li>Naturally hedged business model </li></ul>
  21. 21. R OLE OF A F INANCIAL A NALYST <ul><li>Analyze financial conditions of companies </li></ul><ul><li>Write general economic and industry specific reviews </li></ul><ul><li>Analyze mergers and acquisitions of publicly traded and privately held securities </li></ul><ul><li>Assist in writing offering memorandums, presentations and new business pitch books </li></ul><ul><li>Assist in the valuation of privately held companies </li></ul><ul><li>Develop complex modeling and financial analysis skills </li></ul>

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