investing in distressed businesses. ben shapiro oxford university: ppe strategy consultancy, pe...

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Post on 26-Dec-2015




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  • Ben Shapiro Oxford University: PPE Strategy Consultancy, PE Commercial Due Diligence NTL Inc: Strategic projects, portfolio management & post Chpt 11 restructuring Hilco UK Investment Director - Distressed acquisition and restructuring: Founding partner of b7 Ventures PERSONAL INTRODUCTION
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  • b7 Ventures targets investments within the FMCG supply chain, from manufacturing and wholesale to retail and ecommerce. Specialist corporate, financial and operational experience of its founding partners. Combined with resources, infrastructure and expertise offered through our partnership with 151 Products Limited. b7 VENTURES
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  • Distressed and turnaround transactions Buy-out opportunities Venture deals where existing investors are seeking a partner for the commercialisation of innovative consumer products. DEAL TYPES
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  • THE INVESTMENT DECISION Not for love Act fast Approach with caution Secure a back-up plan
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  • VALUING THE ASSETS/OPPORTUNITY Added value strategic or asset based? B7s strategic value for FMCG deals Channels to market Marketing and design Compliance and regulation Logistics Sourcing with confidence Other perspectives
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  • SECURING THIS VALUE Timing Fixed vs Floating Priority Security Control
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  • HYPOTHESIS BASED DECISIONS Set your hypothesis Set the rules of engagement Test the hypothesis Be scientific, detached and cautiousuntil you fall in love !
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  • DOFF CASE STUDY 4 weeks DD Hypothesis re: CVA & Brand value Secure Brand Test hypothesis post acquisition: Brand value Management Creditor appetite Bank support Falling in love expensive but worth it!
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  • THAMES CASE STUDY 5 days DD Hypothesis re: Vertical integration Secure Assets Test hypothesis: Management Market Falling out of love, but a happy ending!