CW Group

CW Advisory is a global consultancy specializing in M&A and transaction advisory, strategic advisory, management and operations consulting. Our deep sector expertise covers industrial, cyclical, utility and infrastructure.

CW Advisory works with boards and senior management addressing the most complex issues, including those in functional areas spanning the value chain, including fuels & energy, logistics, organizational, operational due diligence, feasibility assessments, among others.

CW Advisory is part of the CW Group, a leading advisory, research and media boutique aligned along three pillars: Advisory, Research and Media, with headquarters in Greenwich (CT), USA.

About CW Advisory

The Greenwich, CT USA-headquartered CW Group is a leading advisory, research and media boutique aligned along three pillars: Advisory, Research and Media.

Our Advisory team is supported by a dedicated, in-house Research team responsible for the firm's market, sector and company research as well as data assessments and analytics. Our Media platform extends into fast-moving industry news services, alerts, market intelligence and managed industry meetings and summits.

About CW Group

Overview

Advisory Research

Media

CW Group

CEMENT • CHEMICALS • ENERGY • STEEL • METALS & MINING • PORTS • COMMUNICATIONS • FINANCIAL SERVICES • AGRICULTURE

WE KNOW THE INDUSTRY. LET US GUIDE YOU.

Advisory services

Long-term strategic planning

New business development

Market entry strategies

Market scans and in-depth attractiveness reviews

Techno-commercial feasibility studies

Long-term R&D and innovation planning

Independent board advice

Strategy development

Target screening and evaluation

Transaction management

Commercial due diligence

Technical / operational due diligence

Financial and valuation support

M&A introductions and negotiation support

M&A / transaction support

Logistics optimization and distribution network design

Organizational efficiency and effectiveness programs

Post-merger integration value realization and program management

Operational competitiveness and capability strategy development

Competitive benchmarking

Capability enhancement

CW Group USA • INDIA • BRAZIL • ROMANIA

advisory.cwgrp.com

CW Group Global PresenceCW Group Global Presence

CW Team

CW Associates

New York

Bucharest

MumbaiMiami

Lisbon

Sao Paulo

Manila

Houston

Greenwich

Bucharest

MumbaiMiami

Lisbon

Sao Paulo

Manila

Houston

CEMENT • CHEMICALS • ENERGY • STEEL • METALS & MINING • PORTS • COMMUNICATIONS • FINANCIAL SERVICES • AGRICULTURE

WE KNOW THE INDUSTRY. LET US GUIDE YOU.

Sectors covered

Up-stream building materials (Cement, Lime)

Downstream building materials (Aggregates, Ready-mix, Cementitious - Fly ash, Slag)

Power & Energy

Steel, Minerals & Mining

Agriculture & Commodities

Paper & Pulp

Ports, Logistics & Transportation

Sectors covered

CW Group

advisory.cwgrp.com

USA • INDIA • BRAZIL • ROMANIA

Advisory Leadership

Robert holds an MBA from the Harvard Business School and is a triple-major (Economics, International Relations and Organizational Behavior & Management) Brown University undergraduate.

Robert has extensive functional experience in strategy consulting with Booz & Co where he advised clients across industries on topics including new market entries, innovation, organizational issues, transformation initiatives and efficiency initiatives. He also has experience in investment management with investment fund Arden Asset Management and corporate development / M&A with Citibank where he worked on over $5 billion in transactions across sectors and geographies.

In his capacity as the lead of CW Advisory, he works with senior clients across the world on solving some of their most complex management, strategic and investment issues. Recent projects include advising a Middle East sovereign wealth fund on a major invest-ment in emerging markets, developing a fly ash export business for a European national electrical power generator, creating a corporate energy management capability and strategy / roadmap model for a regional cement group and providing transaction support for an Indian cement group considering an investment in a developed market.

He is a frequent speaker at industry conferences and is the founder of the CW Group. Robert supervises all of CW’s advisory work as well as oversees the management of the company out of Greenwich, CT, USA.

Robert Madeira

Managing Director

CEMENT • CHEMICALS • ENERGY • STEEL • METALS & MINING • PORTS • COMMUNICATIONS • FINANCIAL SERVICES • AGRICULTURE

WE KNOW THE INDUSTRY. LET US GUIDE YOU.

Advisory Board Members

Mr. Sumit Banerjee is former vice chairman of Reliance Cement and CEO of Reliance Infrastructure, and former CEO and Managing Director of ACC Limited, Holcim Group. His career started at L&T in 1979 and during his role as Executive Assistant to a Profit Centre Head in L&T, he had early insights into Management Control Systems. He also spent 17 years in the Aluminium Sector, with Indal/Hindalco.

Sumit Banerjee is a seasoned business leader with a strong background in manufacturing and infrastructure, a professional with a lengthy top-management level exposure to core sector industries such as non-ferrous metals, steel processing, cement and infrastruc-ture. Mr. Sumit Banerjee is a Fellow of the Institute of Engineers, the Founding Chairper-son of CII’s Cement Division, a member on the Managing Committee of Bombay Chamber of Commerce & Industry (BCCI) and a government nominee on the boards of IIM Lucknow and Construction Sector Skills Development Council.

Sumit Banerjee

Advisory Board Member

Mr. Jean Michel Allard is an independent expert in the cement industry. Mr. Allard gained extensive experience during his forty-year tenure with Vicat Group, an International Cement Organisation.

He served as the Deputy CEO of the Vicat Group for twenty-two years and prior to that appointment, he held several managerial positions within the company.

His ancillary assignments included membership on the Board of Directors of Syndicat Français Industrie Ciment (SFIC) and Chairman of the National Commission on Safety for the French Cement Profession.

Jean-Michel Allard

Advisory Board Member

Mr. Arun Bhalla is the former CEO and Director of Jindal Thermal Power, and former Chief Executive in charge of Power Business Development at Shree Cement Power business unit. Between 2006 and 2010 he held the position of Executive Director of PTC India Ltd, and he is currently an independent director and audit committee member on the board of Indotech Transformer (Prolec-GE –India).

Arun Bhalla is a knowledgeable insider of the business community, an experienced professional with over 40 years of activity in the sectors of power and automation, and extensive exposure across the complete value chain. Throughout his lengthy career, Arun Bhalla had management roles at various levels with companies such as BHEL, CGEE-Alst-hom/Cegelec, NELCO, Bells Controls (Foxboro), Tata Honeywell, Hyundai Electrical Trans-mission Co, Maharashtra Power Transmission Co and PTC Energy.

Arun Bhalla

Advisory Board Member

CW Group

advisory.cwgrp.com

USA • INDIA • BRAZIL • ROMANIA

Recent flagship projects

CW Advisory supports Investment Corporation of Dubai on US$300mm

investment in Dangote Cement

investment corporation of dubai

CW Advisory provides commercial, technical / operational evaluation for

acquisition of quicklime manufacturing company

global development bank / investment organization

CW Advisory assists integrated cement manufacturer in

developing long-term strategic vision and options

major regional� cement group

CW Advisory develops overhead efficiency and effectiveness

strategy and operating model

mid-sized cement company

CW Research supports client in developing fly ash export

strategy, go-to-market and business development activity

european national electricity generator

CEMENT • CHEMICALS • ENERGY • STEEL • METALS & MINING • PORTS • COMMUNICATIONS • FINANCIAL SERVICES • AGRICULTURE

WE KNOW THE INDUSTRY. LET US GUIDE YOU.

Recent Advisory projects: Strategy & Markets

Recent Client Engagements

CW Group

advisory.cwgrp.com

USA • INDIA • BRAZIL • ROMANIA

Select project experiences

Industrial equipment market share assessment and forecast

Leading niche mining, minerals and cement equipment supplier

Developed a detailed global market share analysis for major equipment components;

Forecasted demand, market size and probable market shares by type of client and equip-

ment

Latin America Lime Market Assessment

Major lime producer

Assisted the client in conducting an assessment of the lime industry in Latin America,

considering demand, trade flows, end-user segment dynamics, production, evolution/

growth opportunities

Assessment of Middle East Petcoke Markets

Top Saudi Arabian oil company

Developed an in-depth petcoke demand market strategic assessment and market entry

approach of the Middle East markets for a major industrial group

Fly ash growth strategy and go-to-market support

European national power generation company

Build an assessment for fly ash exporting opportunities for a European power genera-

tion operators and supported go-to-market activities

Develop raw material strategy for cement group

Regional cement group with cement, concrete and aggregates businesses

Constructed an integrated policy and strategy for raw materials, including limestone,

aggregates, fly ash, slag, gypsum and other minerals considering production and

competitive demands

Developing a Corporate Energy Strategy

South American cement group

Developed a corporate energy strategy for a energy-intensive manufacturing group,

including energy (coal, petcoke, gas, alternatives) impact model, governance and org

design, sourcing model, risk tools, technical / operational efficiency

Corporate performance management initiative

Americas-based industrial group

Constructed a company-wide performance evaluation and developed an integrated

approach to enabling best-in-class operations

CEMENT • CHEMICALS • ENERGY • STEEL • METALS & MINING • PORTS • COMMUNICATIONS • FINANCIAL SERVICES • AGRICULTURE

WE KNOW THE INDUSTRY. LET US GUIDE YOU.

Select project experiences

Valuation of a Cement Group

Consortium of European banks

Provided an independent valuation assessment of a cement group on behalf of a

consortium of major banks and lenders

Due Diligence Support

Major Indian cement manufacturing group

Supported a South Asian cement group in assessing attractiveness of an international

asset including cement manufacturing, ready-mix and aggregates

Transaction Advisory and Commercial Due Diligence

Middle-Eastern Sovereign Wealth Fund

Supported a major Middle Eastern Sovereign Wealth Fund in evaluating a major invest-

ment into a well-known cement group

Project included valuation and transaction modeling and commercial due diligence,

including demand and price projections

Investment due diligence of quicklime producer

Global non-profit financial lender / bank

Conducted commercial and technical due diligence of lime production unit of major

South American conglomerate

Evaluation of domestic and export markets as well as lime plan, quarries and technical

abilities of the business unit

Investment option articulationfor board of cement producer

Regional vertically integrated cement group in the Americas

Assisted executive management through workshops and studies to articulate long-term

strategic growth options for the corporation, including trade-offs and attractiveness of

expansions, new markets and business opportunities and operational and organization-

al implications

Africa Investment Analysis

Regional cement group in India

Conducted a strategic review of a region in Sub-Saharan Africa for a cement group

considering a $150 million investment in a production unit

Africa cement market investment assessment

Middle Eastern investment group

Prioritization of cement markets in Africa based on their current and projected attrac-

tiveness to pave way for $1bn investment decision on building new production capacity

CW Group

advisory.cwgrp.com

USA • INDIA • BRAZIL • ROMANIA

CW Group inquiries@cwgrp.com • +1-702-866-9474 • PO Box 5263 • Greenwich, CT 06831 • USA

CW Advisory is a global consultancy specializing

in M&A and transaction advisory, strategic advisory,

management and operations consulting. Our deep

sector expertise covers building materials, infrastructure /

ports, energy, metals and mining and other industrial

segments.

CW Advisory works with boards and senior management

addressing the most complex issues, including those in

functional areas spanning the value chain, including fuels &

energy, logistics, organizational, operational due diligence,

feasibility assessments, among others.

CW Advisory is part of the CW Group, a leading advisory,

research and media boutique aligned along three pillars:

Advisory, Research and Media, with headquarters in

Greenwich (CT), USA.

advisory.cwgrp.com