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SPB Infrastructure Presentation
- 2. Integrated Approach SPB INFRASTRUCTURE Assembled group of strategic partners to acquire, manage & finance central utility plants & energy efficiency retrofits SYNERMETRIX VEOLIA ENERGY Provider of energy efficiency & Owns largest portfolio of Property optimization services, green building central heating & cooling systems Owner certification & renewable & in US alternative energy solutions QUALITY MECHANICAL Largest design-build, fabrication & installation mechanical contractors in Nevada
- 3. Integrated Solution Liquidity Through Lease Back Reduced Energy Costs Reduced Operating Costs Long-Term Capital Reduced Carbon Emissions Enhanced Employee Career Path Market Based Terms Extended Equipment Life Cycle Improved Systems Reliability Improved Financial Metrics Improved Building Valuation Focus on Core Business
- 4. SPB Infrastructure • SPB Infrastructure, LLC is a controlled entity of SPB Capital Partners that provides a “turnkey” solution to acquire, improve and manage infrastructure assets • SPB Infrastructure has assembled a group of strategic partners that include: – Synermetrix, LLC – Quality Mechanical Contractors, LLC – Veolia Energy – Houlihan Lokey • SPB Infrastructure is one of several entities in the SPB Capital Partners family of investments that incorporates regional and institutional capital partners with strategic operating experts • SPB Capital Partners is a Las Vegas and Los Angeles based private equity platform drawing on the successful experience of its team, strong relationships and disciplined investment approach
- 5. Synermetrix Relationship-focused professional servicesfirm that provides commercial property owners, government agencies and other large organizations world-wide with a comprehensive suite of cost-effective turn-key energy efficiency, renewable energy and green building solutions from concept to completion inclusive of analysis, feasibility, incentives, financing, design, engineering, construction, validation and certification Synermetrix’s major services include: – Energy Efficiency and Optimization Services – Preconstruction Services for Sustainable Buildings – MEP Project Management (Mechanical / Electrical / Plumbing) – Green Building Certification – Renewable and Alternative Energy Solutions – Carbon Management and Reduction Strategies
- 6. Quality Mechanical The largestmechanical contractor in Nevada Founded in 1971, Quality Mechanical enjoys continued success with a core group of employee-owners, some who have been with the company since its inception Quality Mechanical has worked on some of the largest projects in North America in the most aggressive construction schedules. As a result, Quality Mechanical has become one of the most sophisticated and experienced design-build contractors in the United States. We have the most state-of-the-art fabrication facility available. Quality’s blend of skills and experience provide a truly unique level of service. – Design Build – Sheet Metal Fabrication – Piping Fabrication – Quality Installation
- 7. Veolia Environnement Veolia Environnement(NYSE:VE) is a leading provider of services related to the design, construction and management of infrastructure systems for energy, water and wastewater, environmental and transportation; these combined businesses had nearly $50 billion in 2009 revenues Veolia Energy is a leading international provider of custom, sustainable energy and facility operations and management solutions relating to heating and cooling networks, decentralized energy production, thermal and multi-technical systems, industrial utilities, renewable energy, and integrated facilities management Veolia Energy North America provides sustainable energy and facility operations and management solutions to more than 1,200 customers across a wide range of industries, including education and research, government, healthcare, housing, industry, office buildings, retail, gaming, hotels and leisure, transport and telecommunication
- 8. Veolia Energy Global Presence in 41 Countries HOUSING INDUSTRIAL Nearly 5.7 million housing units 4,200 facilities NETWORKS EDUCATION & RESEARCH 682 district and local heating Nearly 11,600 facilities and cooling networks SPORTS, CULTURE & LEISURE COMMERCIAL & OFFICES Nearly 6,600 facilities 90,000 facilities HEALTHCARE TELECOM More than 450,000 beds in 5,130 facilities 18,000 facilities Nearly 112,000 Energy Facilities Managed
- 9. Our Process –Acquire Working with its partners, SPB Infrastructure can offer a one-stop solution for infrastructure improvement, cost-efficient management and sale leaseback transactions A variety of commercial leasing options can be structured with flexible terms and at reasonable rates Operating Leases Capital Leases • Infrastructure sold off the balance • On balance sheet obligation of sheet of Property Owner Property Owner • Potential Tax Advantages • Asset reverts to Property Owner at the • 5-10 year terms end of the term • Purchase and Replacement Options • 7-10 year terms
- 10. Our Process –Acquire Houlihan Lokey: Advising SPB Infrastructure and Partners No. 1 M&A Advisor for U.S. Transactions Under $3 Billion in 2009 Raised Approximately $20 Billion of Capital Over the Past Five Years No. 1 Investment Banking Restructuring Advisor 14 offices globally Ranked Among the Top 10 U.S. M&A Advisors for Ten Straight Years Over 800 employees Over 550 investment bankers No. 1 M&A Fairness Opinion Advisor 2009 Investment Banking Currently Retained on Over 175 M&A Transactions Firm of The Year (The M&A Advisor) Currently Retained on 23 Financings Totaling Over $3 Billion Sources: Thomson Financial Securities Data, Mergers & Acquisitions Journal, TheDeal.com’s Bankruptcy Insider
- 11. Our Process –Improve Synermetrix and Veolia will perform an initial assessment of each facility to identify opportunities to reduce energy costs and improve operations through equipment and infrastructure optimization, upgrades and retrofits Initial Improvements Future Costs & Residual Benefits (Financed as part of infrastructure acquisition) • Conformance with state specific • Energy efficiency improvements financial and tax incentives • LEED Green Building Operations and • LEED Green Building Operations and Maintenance Certification Maintenance Recertification (Optional) • Aggressive payback on future costs Financial & Tax Incentives Savings & Benefits (Immediate and ongoing) (Immediate and ongoing) • State specific financial and tax • Reduced operating and energy costs incentives • Extended equipment life cycle • Federal §179D Tax Credit • Reduced carbon emissions • Federal R&D Tax Credit • Improved building valuation • Improved systems reliability
- 12. Our Process –Manage Program Implementation Steam Production Property Owner/Site Condenser Building Water Automation Agreement on Key Performance Indicators In-Building (KPIs) Switchgear HVAC Systems COMPLETE O&M PROGRAM for Site Domestic Hot Pool Systems Water Electricity Chilled Water Generation/ Standby Heating Hot Water
- 13. Property OwnerBenefits Concentrate on Core Business Activities Enhanced Employee Competitively Priced Career Development Long-term Capital Property Owner Improve Key Liquidity through Financial Metrics Lease Back Reduced Operating Cost per Facility
- 14. Timeline Data Request Update data request and submit to Property Owner Diligence Review SPB Infrastructure reviews data received from Q&A SPB Infrastructure follows-up with management regarding data received SPB Infrastructure submits to Property Owner a comprehensive proposal to Proposal include (i) sale leaseback transaction, (ii) improvement of asset(s) and (iii) infrastructure management Negotiate Negotiate and accept the proposal Documents Draft definitive documents Close Close and fund Integration & Transition To Be Determined Implementation & To Be Determined Facility Upgrades Monitor & Manage Key To Be Determined Performance Indicators
- 15. Questions? For more informationcontact: Roger Bulloch SPB Infrastructure, LLC 10091 Park Run Drive, Suite 190 Las Vegas, NV 89145 P: 702.212.1157