DEALMAKING EXCELLENCE W W W. ZE TR A- I NTER N ATION A L.COM

Transcription

1 DEALMAKING EXCELLENCE W W W. ZE TR A- I NTER N ATION A L.COM W W W. ZE TR A- I NTER N ATION A L.COM 4 3

2 MANIFESTO ZETRA stands for dealmaking excellence in corporate finance. By mandating us, our clients place high trust in our abilities. There is always a lot at stake and ZETRA has a key role to play. ZETRA partners up with its customers and is entirely dedicated to their projects. We exclusively represent our client s interests and are ready to go (or run) the extra mile, no matter how complex the task at hand may be. ZETRA s most valuable assets are its extensive experience, top network, outstanding employees, and its dealmaker s cleverness. ZETRA s competitive edge builds on its strong internationality and its core competencies in M&A, real estate, restructuring, and financing. ZETRA is an independent consulting firm, allowing us to pursue our projects free of any conflicts of interest. ZETRA s activities are limited to our advisory services. We do not invest in companies or real estate. 4 3

3 CONTENT MERGERS & ACQUISITIONS Lead dealmaker, sell and buy side M&A mandates. Consulting services to prepare clients for M&A projects. REAL ESTATE Lead dealmaker in the sale of real estate objects and companies (complex or high-volume transactions) as well as in the acquisition of special purpose objects. Consulting services to optimize decision-making in real estate RESTRUCTURING FINANCING Comprehensive advisory services in the planning and subsequent implementation of restructuring efforts. Lead dealmaker for divestitures of companies and real estate objects as well as refinancings/raisings of capital. 08 Lead intermediary for capital procurement in M&A financing, real estate transactions, or growth financing. Consulting services for debt structuring and optimization as well as for IPO preparations. 09 OUR SERVICES DEALMAKING EXCELLENCE POWER TEAM NETWORK Cleverness, experience, network, internationality and specialization. Being globally active in the mid-market segment requires local presence. ZETRA is part of the Global M&A network and has access to country-specific expertise all over the world REFERENCES Our mandates almost always originate in recommendations from successfully completed projects. Thoroughly satisfied customers are the basis of these recommendations. 26 4

4 SERVICES MERGERS & ACQUISITIONS SERVICES REAL ESTATE The dealmakers of ZETRA have closed approximately 200 M&A transactions with an aggregate deal volume of CHF 6.6 bn. Our team has extensive experience in successful cross-border transactions. The main success factors are the right positioning of the case, a maximized sales price (or minimized purchase price), bulletproof contracts, as well as a discreet and professional deal execution. The real estate experts at ZETRA have a proven track record in generating value for real estate owners. This includes the realization of real estate transactions as well as the conversion and development of property. In total, ZETRA has completed over 50 real estate projects, including 20 real estate transactions with an accumulated deal volume of CHF 440 mm. Access to suitable partners is key; experience, creativity, and commitment are equally critical for success. Transactions Cross-border transactions Transactions Divestiture and acquisition of companies as lead advisor Management buy-out and buy-in In order to successfully close international M&A projects, local market knowledge and access to trustworthy partners such 189 Divestiture of real estate objects (incl. sale and leaseback) Divestiture of real estate companies 51 (MBO / MBI) as lawyers, tax consultants, and investors is CLOSED TRANSACTIONS Acquisition of special objects CLOSED PROJECTS Mergers required. As a founding member of Global PPP public private partnership Spin-offs and carve-outs M&A Partners, ZETRA is connected to Collective investments more than 200 professionals in over 50 Consulting Company valuation Business planning, financial modeling countries worldwide. 6.6 Consulting Real estate financial planning and valuation 440 Fit for sale Shareholder strategies, M&A strategy, CHF BN. ACCUMULATED TRANSACTION VOLUME Conversion concepts and real estate development CHF MM. ACCUMULATED TRANSACTION VOLUME succession planning Fit for sale Legal and tax structure Real estate strategy, portfolio strategy, and succession planning Legal and tax structure CHF MM. TRANSACTION SIZE RANGE CHF MM. TRANSACTION SIZE RANGE 6 7

5 SERVICES RESTRUCTURING SERVICES FINANCING ZETRA guides companies through complex corporate restructurings and turnarounds, with the clear objective to develop and execute value maximizing solutions for all stakeholders. Such efforts require extensive experience in dealing with the obstacles and challenges that tend to arise throughout the process. Our experts have successfully completed approximately 100 restructuring projects with an accumulated turnover of more than CHF 9.5 bn. ZETRA has profound experience in raising capital and optimizing capital structures a domain in which the potential for unlocking value can be substantial. In total, ZETRA has completed 46 financing projects with a cumulative volume of more than CHF 1.8 bn. Transactions In order to succeed in restructuring projects, Transactions ZETRA s financing projects are all M&A capital free-up Real estate capital free-up Refinancing / raising capital negotiations involving a wide range of stakeholders need to be conducted. This requires a robust foundation for financial 100 Debt, equity and mezzanine capital for M&A transaction financing Real estate financing characterized by the wealth of experience and the broad set of tools and methods ZETRA brings 46 and operational decision-making. Examples CLOSED PROJECTS Growth financing to the table. Additionally, ZETRA CLOSED PROJECTS Consulting thereof include ROCE analyses, profit center has access to databases containing Restructuring and turnaround concept analyses, integrated financial plans, liquidity Consulting relevant and up-to-date market data. Short-term stabilization plans, currency analyses and detailed costing. Financial structuring Implementation support ZETRA has extensive know-how and experience in the successful implementation 9.5 Cost of financing Interest rates, currencies, collateral and maturities 1.8 of restructuring projects. The strong in-house team is complemented by a broad and CHF BN. ACCUMULATED REVENUES Scenario analysis IPO preparation CHF BN. ACCUMULATED TRANSACTION VOLUME established network of temporary managers, legal and tax consultants, auditors, industry specialists, banks and investors CHF MM. REVENUE RANGE CHF MM. TRANSACTION SIZE RANGE 8 9

6 ZETRA FACTS & FIGURES 395 CLOSED PROJECTS 395 CLOSED PROJECTS Nr. 1 > 250 SWISS MID-MARKET M&A ADVISOR CLOSED TRANSACTIONS 16 > 8 YEARS TRACK RECORD CHF BN. ACCUMULATED TRANSACTION VOLUME > 20 2 PROFESSIONALS OFFICES IN ZURICH AND BASEL > YEARS OF EXPERIENCE PARTNER FIRMS GLOBALLY 10 11

7 ACCESS TO INVESTORS DIRECT AND BROAD ACCESS TO INVESTORS AND CAPITAL ZETRA has a broad network of reputable investors and financial institutions relevant for M&A, real estate, restructuring, and financing. Strategic buyers Typically direct access, internationally through our Global M&A partners. Use of various, partly exclusive databases for a focused identification. Private investors / family offices Access to private investors with an entrepreneurial interest or a real estate focus (own database of potential buyers). Various contacts to leading family offices in Germany, Austria, and Switzerland. Institutional investors Well-established contacts with leading institutional investors (real estate funds, real estate corporations, insurances, pension funds) and over 300 private equity investors. ZETRA continuously screens the investment criteria and capital allocation strategies of relevant players in order to stay up to date on potential opportunities. Financial institutions Direct and personal access to decision makers within the most important Swiss financial institutions. ZETRA is recognized as a reliable and trustworthy partner and has extensive experience in financial structuring Private equity investors 13

8 OUR VALUES WE ACT AS IF THE CLIENT S COMPANY WAS OUR OWN RELENTLESS FOCUS ON RESULTS COMMITMENT AND ENTREPRENEURIAL SPIRIT TRUTHFUL COMMUNICATION PURSUIT OF EXCELLENCE ENTRUSTED INFORMATION STAYS CONFIDENTIAL INTERNATIONAL MINDSET NO CONFLICTS OF INTEREST HIGH INTEGRITY 14 15

9 ZETRA POWER TEAM 260 YEARS OF EXPERIENCE Cleverness, experience, network, internationality and specialization RALF HERMANN Partner Dr. oec. HSG, 30 years of experience in corporate finance (M&A, real estate, complex restructurings and financings) LUKAS G. RASCHLE Partner Banking and Finance graduate, 35 years of experience in M&A, complex restructurings and credit risk management CLAUDIO A. STEFFENONI Partner lic. iur. University of Zurich, AZEK, 26 years of experience in M&A, financings (IPOs, capital increases, etc.), debt advisory and corporate finance projects FRÉDÉRIC DE BOER Partner MBA Insead, lic. oec. HSG, 30 years of experience in M&A, financing, turnarounds (planning and execution) and complex restructurings KAREL STRUB Partner lic. oec. HSG, 22 years of experience in M&A, complex restructurings and turnarounds (planning and execution) MICHAEL MÄRKI Partner Dr. oec. publ., GMP Harvard Business School, 17 years of experience in M&A, private placements, financings and restructurings 16 17

10 ZETRA POWER TEAM MATTHIAS NIESS Director Economist HWV, 31 years of experience as CFO and turnaround expert as well as in M&A projects (specifically due diligence) HANNES CAJ Director Head of Basel Office - M.A. Vienna College, 10 years of experience in M&A projects and corporate restructurings FREDRIK ISLER Manager M.A. HSG, CEMS MIM, 5 years of experience in M&A, corporate finance and consulting projects FLORIAN HUNKELER Manager M.A. University of Zurich, CFA Charterholder, 7 years of experience in M&A, financing, financial restructuring and corporate finance projects SABINE HORISBERGER Senior Manager lic. oec. HSG, dipl. arch. ETH/SIA, 20 years of experience in the Swiss real estate market with comprehensive expertise in complex real estate transactions (sell and buy side) incl. collective investment schemes TOBIAS GUTZWILLER Manager M.A. HSG, 5 years of experience in M&A, consulting and private equity projects GABRIEL GRÄNICHER Senior Consultant M.A. HSG, 4 years of experience in M&A, restructuring and corporate finance projects MARCO GUSTINETTI Consultant MSc University of Basel, 2 years of experience in M&A and management consulting 18 19

11 ZETRA POWER TEAM MARTIN BURTSCHER Consultant MSc Lund University, 1 year of experience in corporate finance projects and business development PHIL MERBECKS Consultant MSc Nottingham University, 1 year of experience in corporate finance and real estate projects NATALIE BÖSCH Consultant M.A. HSG, 1 year of experience in M&A and corporate finance projects FABIAN STUDACH Consultant BSc ZHAW, 2 years of experience in corporate finance projects and institutional client advisory NATHALIE BAUMANN Consultant B.A. University of Bern, 1 year of experience in real estate projects CORNELIA BOSSI Office Manager Swiss Certified Specialist in Management Assistance, many years of experience in back office and senior management support in retail and financial services SEVERIN REICHENBACH Consultant MSc Cass Business School, 1 year of experience in M&A and corporate finance projects 20 21

12 NETWORK ZETRA HAS A GLOBAL NETWORK A selection of cross-border transactions with Global M&A partners SWITZERLAND / GREAT BRITAIN Pinova SWITZERLAND / NORWAY Bauwerk, Parkett SWITZERLAND / SWEDEN Oetiker, Connecting Technology SWITZERLAND / FRANCE de Grisogono SWITZERLAND / GERMANY Mageba SWITZERLAND / JAPAN TEL Solar SWITZERLAND / USA Fomo Products Inc. SWITZERLAND / JAPAN Lonstroff SWITZERLAND / USA Boards & More SWITZERLAND / USA Oetiker, Connecting Technology SWITZERLAND / TURKEY Oetiker, Connecting Technology SWITZERLAND / MEXICO Precious Woods SWITZERLAND / ITALY Hatebur 22 23

13 NETWORK GLOBAL M&A PARTNERS (ESTD. 1999): LEADING ADVISOR IN THE MID-MARKET 32 leading and independent M&A firms around the world 200+ M&A advisors 100+ analysts and researchers Transnational industry expert teams, central research infrastructure More than closed transactions in the past 5 years (aggregate transaction volume of 42 bn.) Professional organizational structure & management ZETRA is a founding shareholder of Global M&A Partners and part of the executive committee 24 25

14 REFERENCES OUR SUCCESSFULLY CLOSED DEALS

15 REFERENCES MERGERS & ACQUISITIONS Comprehensive assistance in the sale and acquisition of companies Target: MF Group Factoring AG Buyer: Arvato Financial Solutions E-commerce factoring Target: bb trading werbeartikel ag Buyer: Investnet AG Promotional goods Target: Fomo Products Buyer: ICP Adhesives and Sealants Polyurethane applications Target: Musik Hug AG Buyer: Musikpunkt Holding AG Retail Target: Robert Spleiss AG Buyer: Corti Holding AG Construction Target: AG Cellere Buyer: Luce Beteiligungen AG Civil engineering ACQUISITION Target: Jiffy-tite Group Buyer: Oetiker Group Fluid connection parts ACQUISITION Target: Carlo Salvi S.p.A Buyer: Hatebur Umformmaschinen Cold forming machinery ACQUISITION Target: Double Check AG Buyer: The Kusnacht Practice AG Medical treatment services Target: FLAWA Consumer Buyer: U.S. Cotton Personal hygiene products Target: Aerni Fenster AG Buyer: Daniel Ruchti AG Window manufacturing Target: vonroll itec ag Buyer: Auctus Private Equity Information technology Target: Jakob Schlaepfer Buyer: Forster Rohner Group Luxury textiles Target: Wirz Group Buyer: Albin Borer AG Highway engineering Target: Transco Group Logistics Target: Musica Viva AG Buyer: AVA Verlagsauslieferung AG Publishing Target: Baitella Holding AG Buyer: Investnet AG Med-tech Target: Swisspower Energy AG Buyer: EBM Utilities BUY-OUT Target: Minority shareholder Buyer: Majority shareholder Healthcare industry Target: IT security integrator Information technology Target: mageba Holding AG Buyer: Deutsche Beteiligungs AG Structural protection 28 29

16 Target: H+S Unit Composites Buyer: Connova AG Composites Target: Hofstetter + Co. AG Buyer: Transfreight AG Logistics CARVE-OUT and MBO Target: Prevanto AG Actuarial services Target: Lonstroff Holding AG Buyer: Sumitomo rubber industries Elastomer components Target: Hofstetter + Co. AG Logistics ACQUISITION Target: Rheinburg-Klinik Buyer: Kliniken Valens Rehabilitation clinics Target: Transco Logistik GmbH Buyer: LTG Landauer Logistics Target: TEL Mechatronics AG Buyer: VDL Groep Mechatronic systems Target: Asurem SA Buyer: BCI-Blösch Corporation Watch components Target: Ernst Keller & Co. AG Buyer: Asahi Glassplant Inc. High-quality glassware ACQUISITION Target: Levi Peterson Group Buyer: Oetiker Group Fastening devices Target: CBVR Holding AG Buyer: Investnet AG VAT refund company Target: Raststätte Knonaueramt Buyer: International investors led by Real MGT Highway rest areas Target: Sihldruck AG Media production Target: Obstkühlhaus St.Margrethen AG Buyer: Gefrierhaus AG Food logistics Target: Kneipp-Hof Dussnang AG Buyer: VAMED Rehabilitation clinics Target: FLAWA AG Buyer: NÖLKEN Hygiene Products Personal hygiene products Target: COTTA Collection AG Buyer: AFINUM Management AG Upholstered furniture Private Investor 2014 Target: Felina International AG Buyer: palero invest S.à.r.l Lingerine manufacturer Target: Tyrol Air Ambulance & Welcome Air Buyer: Kevin Walls Aviation industry Target: Matti Technology AG Buyer: Private investor - MBI Digital printing equipment Target: Kies & Recycling Group Buyer: Bax Capital Advisors AG Logistics Target: Swisstex AG Buyer: Trützschler Schweiz AG Spinning systems ACQUISITION Target: Contractplan AG & Etzel Immobilien AG Buyer: Private investor Real estate 30 31

17 Target: Oesch & Co. AG Landscape contracting Target: Boards & More Group Buyer: Emeram Capital Partners Watersports equipment Target: gb consult AG Buyer: Rapp Group Building services Target: Soutec AG Buyer: Andritz Group Welding systems Target: Namics AG E-Commerce Target: Venenklinik Luzern Buyer: Dr. Hermanns & Dr. Waldhausen Vascular surgery clinics MEDETA Holding AG ACQUISITION Target: MF Group AG Buyer: MF Group Factoring AG Customer financing JOINT VENTURE Target: Bielomatik Leuze GmbH & Co. KG Buyer: Matti Technology AG Printing industry ACQUISITION Target: MIE Marine and Industry Equipment AG & MIE Service GmbH Buyer: MEDETA Holding AG Industrial engines MANAGEMENT BUY-IN Target: Confidential Natural gum producer Target: Almatec Holding AG Buyer: KNILL Energy Holding GmbH Cooling systems CAPITAL INCREASE Target: de Grisogono Holding SA Buyer: Strategic investors Luxury jewelry and watches Target: MEWAG AG Buyer: MDC Daetwyler AG Tube machinery MERGER Target: Bauwerk Parkett AG Buyer: Boen AS Parquet flooring Target: Chemspeed Technologies Buyer: Investnet AG Laboratory automation Target: Precious Woods Holding AG Buyer: Shareholders Teak plantation Target: Pinova AG Buyer: CPS Color Colorants Target: ZfU International Business School AG Buyer: WEKA Holding GmbH & Co. KG Management education Target: mimacom group Software integration Target: Oetiker Group Buyer: TST Tamsan Couplings ACQUISITION Target: Charles Füglister AG Buyer: Tobi Seeobst AG Food trading Target: BIRO Edwin Bischof AG Buyer: SIKA AG Injection moulding Target: Casty Bau AG Buyer: Hüppi Holding AG Construction Target: Schiess Wohntextil AG Interior decoration 32 33

18 Target: Krämer AG St. Gallen Buyer: Morant & Cellere Road construction Target: Habegger AG Buyer: DialogFeld & Management team Live communication Target: Huber+Suhner AG Buyer: Rosenberger RF connectors Target: Köpfli & Partner AG Buyer: Bequista Holding AG Graphic arts MANAGEMENT BUY-IN Target: Confidential Electronic retail Target: PADI Europe AG Buyer: PADI International Ltd. Scuba diving training MANAGEMENT BUY-IN Target: Elektrizitäts AG EAGB Electrical engineering Target: Furrer-Jacot Group Buyer: Private investor Luxury jewelry Target: Jet Set Group Buyer: Gaydoul Group Luxury sportswear Target: Schönenberger AG Buyer: Schreinerei Fust Wood processing MERGER Target: MDC Daetwyler Buyer: Hell Gravure Systems Digital gravure systems Target: Tobi Seeobst AG Buyer: Tobi Beteiligungs AG Food & beverage Target: EUROGREEN Gruppe Buyer: BayWa AG Lawn care Target: Cargolux Airlines International Buyer: Luxembourg State, Luxair, BCEE, SNCI Cargo airlines CAPITAL INCREASE Target: Thurella AG Buyer: Food & beverage Target: Rufener Events Ltd. Buyer: Messe Schweiz AG Event agency BUY-OUT Target: Minority shareholder Buyer: Majority shareholders Construction industry MANAGEMENT BUY-IN Target: Hugelshofer Holding AG Logistics & transportation IS HOLDING AG Target: Outline PWT AG Buyer: B-Source AG Transactional printing Target: Beglinger Gartenbau AG & Beglinger Grünplanungs AG Buyer: IS Holding AG Landscaping Target: Group Worldspan AG Buyer: MIGROS M-Travel Tourism Target: Almatec AG Buyer: Mechatronics Group Light metals MANAGEMENT BUY-IN Target: Transco Group Buyer: Sagall AG Logistics & transportation Target: Swissstarfenster AG Buyer: Biberbau AG PVC windows 34 35

19 ACQUISITION Target: Cinergy AG Buyer: Tom Talent Holding AG Crossmedia DEMERGER Target: L. Oberholzer AG Buyer: Kaufmann Holzbau AG Wood processing Target: Regia HighPack AG Buyer: Lande-Langenbach-Gruppe Cardboard & paper Target: Charles Hasler AG Buyer: Beijer Ref AB, sub. of Walter Meier Holding Refrigeration and A/C MERGER Target: Tobi Tafelobst AG Buyer: See-Obst AG Fruit trading Target: Confidential Buyer: Private investor Home decoration ASH AVIATION SERVICES HOLDING LTD Target: Zürcher Freilager AG Buyer: Cargologic AG Logistics Target: Unitpool Ltd. Buyer: ASH Aviation Services Aircraft containers MERGER Target: Tobi Seeobst AG Buyer: Landwirtschaftliche Genossenschaft Neukirch Food trading Target: PSA Paul Schilling AG Buyer: Rheintal Assets AG Precision mechanics Target: Confidential Buyer: Private Equity Company Confidential Target: Peak Technologies Inc. Buyer: Zetes Group System integration Target: Confidential Buyer: Private investor Construction materials Target: jobs.ch Buyer: Tiger Global Management Online job portal Target: Alu Menziken Holding AG Buyer: Montana Tech Components Aluminum profiles ACQUISITION Target: Serimo Immobiliendienste Buyer: Bilfinger Berger AG Facility management Target: Crossrail AG Buyer: Babcock & Brown Freight carrier Target: TELAG Communications AG Buyer: Cyberline AG Call center MANAGEMENT BUY-IN Target: Ludwig AG Ablauftechnik Buyer: Private investor Cleaning equipment Target: JobOne SA Buyer: Randstad Holding Staffing Target: Züllig AG Buyer: Danaher Corporation Water testing instruments Target: Alu Menziken Gruppe Buyer: Debrunner Koenig Holding Metal services Target: Transco Süd GmbH Buyer: Sagall AG Logistics & transportation Target: Peyer + Co. AG Buyer: COP AG Print finishing 36 37

20 DEMERGER Target: BBA AG Buyer: BBA Innova AG Magnet systems Target: Schlegel Swiss Standard Buyer: Stadler Rail Group Passenger rail carriage Target: Schlatter Holding AG Buyer: Zurmont Finanz AG Welding systems Target: North Sports Inc. Water-sports Target: Boards and More AG Buyer: Private investors Water- and snow sports Target: Robert Aebi AG Heavy machinery ACQUISITION Target: Confidential Buyer: Private equity company Crossmedia Target: Egolf Bauunternehmungen Buyer: Strabag Bauholding SE Construction industry MERGER Target: Mageba SA Buyer: Proceq SA Construction industry Target: Eduard Vogt AG Buyer: Galenica AG Personal hygiene products Target: Kürzi AG Buyer: LZ Medien Holding AG Print activities Target: Aismalibar S.A. Buyer: Private investors Copper-clad laminates Target: Injecta Druckguss AG Buyer: Arcrim Holding AG Die casting Target: Panetta Holding AG Buyer: Herbert Ospelt Anstalt Convenience food Target: Marty Wohnbau AG Buyer: Management & private investor Prefabricated houses Target: Reisebüro Mittelthurgau AG Buyer: Mittelthurgaubahn AG Railway activities Target: Mittelthurgaubahn AG Buyer: SBB Railway activities Target: Mittelthurgaubahn AG Buyer: Twerenbold Reisen AG River cruise Target: Frey Unternehmensgruppe Buyer: Swiss Prime Site AG Real estate Target: SIHL Buyer: Diatec International S.A. Digital imaging Target: Rutishauser Weinkellerei Buyer: Private investors Winery 38 39

21 REFERENCES REAL ESTATE Comprehensive assistance during all phases of real estate transactions, conversion concepts and real estate development: a selection of references. DIVESTITURE ADVISORY MANDATE Nursing home (SG) High-end castle hotel (HUN) ADVISORY MANDATE AND DIVESTITURE Large former industrial area (ZH) VALUATION ADVISORY MANDATE DIVESTITURE SEARCH FOR INVESTORS SEARCH FOR END USER DIVESTITURE Real estate portfolio (ZH) yearly Football stadium (ZH) Specialist retailer (SG) Office buildings (FR) Specialist retailer (SG) Industrial buildings (SG) FINANCING SOLUTION CONSTRUCTION RIGHT ADVISORY SEARCH FOR INVESTORS ADVISORY MANDATE DIVESTITURE DIVESTITURE Residential area (SG) Cantonal development plot (BE) Development site tramdepot (BE) NZZ printing plant area (ZH) Rehabilitation clinic (TG) 2014 Development plot with lake access (TG) DIVESTITURE OWNER REPRESENTATION ADVISORY MANDATE DIVESTITURE DIVESTITURE ACQUISITION AND LEASE BACK Hotel Alexandra in Lech a.a. (AT) Immobilie im Gewerbepark Neuhausen o.e. (GER) Development project residential area (ZH) 4*-hotel (ZH) 2012 Swiss hotel school (GR) 2011 Seiler Hotels Zermatt (VS)

22 REFERENCES FINANCING Comprehensive assistance in capital procurement: a selection of references. FURNITURE INDUSTRY Transaction financing Vol. (mm. CHF): 30 SPINNING SERVICE INDUSTRY Refinancing Vol. (mm. CHF): 40 LUXURY WATCHES AND JEWELERY Refinancing Vol. (mm. CHF): FOOD INDUSTRY HEALTH CARE INDUSTRY CHARITABLE FOUNDATION INJECTION MOLDING SHIPPING INDUSTRY ELECTRICAL ENGINEERING Growth financing Vol. (mm. CHF): Transaction financing Vol. (mm. CHF): 50 Real estate financing Vol. (mm. CHF): 35 Refinancing Vol. (mm. CHF): Refinancing Vol. (mm. CHF): Transaction financing Vol. (mm. CHF): MACHINE INDUSTRY E-COMMERCE FACTORING CONSUMER FINANCE FOOD AND BEVERAGE INDUSTRY TRANSPORT AND LOGISTICS CONSUMER GOODS WHOLESALE Transaction financing Vol. (mm. CHF): 20 Growth financing Vol. (mm. CHF): 20 Growth financing Vol. (mm. CHF): 35 Refinancing Vol. (mm. CHF): 20 Growth financing Vol. (mm. CHF): Growth financing Vol. (mm. CHF): 300 RETIREMENT HOMES REAL ESTATE REHABILITATION CLINICS CONVENIENCE FOOD AVIATION INDUSTRY PASSENGER RAIL CARRIAGE Real estate financing Vol. (mm. CHF): 25 Real estate financing Vol. (mm. CHF): Transaction financing Vol. (mm. CHF): Refinancing Vol. (mm. CHF): 20 Refinancing Vol. (mm. CHF): Growth financing Vol. (mm. CHF):

23 REFERENCES ZETRA IS RANKED THE NR. 1 MID-MARKET M&A ADVISOR IN SWITZERLAND Number of deals: ZETRA / GLOBAL M&A 53 REFERENCES CLIENT SATISFACTION «ZETRA advised us in selling our «We are very happy with US subsidiary Fomo Products, Inc. the way ZETRA executed ZETRA was able to structure and the sale of our company. implement a highly professional They managed to find a sales process in an international buyer who not only met environment by systematically our expectations from an involving their Global M&A economic perspective but partner firm in the US. The also in terms of personal interests of the sell-side were and cultural fit. With the represented in an ambitious help of ZETRA, we could setup and excellent results were successfully realize our achieved for all parties involved.» succession plan.» PWC THE CORPORATE FINANCE GROUP STEFAN MICZKA CHAIRMAN FLM HOLDING AND FORMER DR. RETO BAITELLA FORMER MAIN SHAREHOLDER AND CHAIRMAN FOMO PRODUCTS, INC. PRESIDENT OF BAITELLA HOLDING AG Source: Mergermarket s M&A League Table includes announced transactions between and with a Swiss target and a deal volume up to CHF 500 mm. 49 UBS INVESTMENT BANK 34 KPMG 47 EY CREDIT SUISSE GCA ALTIUM 46 BDO 29 OAKLINS «ZETRA developed and implemented an excellent solution for all involved parties in an efficient and very competent manner.» VALENTIN VOGT PRESIDENT SWISS EMPLOYERS CONFEDERATION 44 45

24 «We are very satisfied with the professional service from ZETRA throughout this project. ZETRA advised TEL Solar in the divestiture of TEL Mechatronics AG to VDL Group from the Netherlands. ZETRA s extensive experience in cross-border divestment processes and complex negotiations contributed to the successful closure of the transaction.» KEN SATO PRESIDENT OF TEL SOLAR AG, AN AFFILIATE OF TEL TOKYO «By dividing the sales process into three sub-processes, operating real estate, operating business and non-operating real estate and finding separate buyers for each part, ZETRA found a value maximizing solution in a complex transaction and significantly exceeded our expectations.» SR. ANNA-RITA JÖRGER PRIORESS AND SR. SIMONE BUCHS, ECONOMIST, KLOSTER HEILIGKREUZ CHAM, FORMER OWNERS OF KNEIPP-HOF DUSSNANG AG «ZETRA has been advising FLAWA for many years, most recently in the sale of FLAWA Consumer GmbH to the North American market leader U.S. Cotton. Thereby, we were able to strengthen Flawil as a production location and open up new sales, growth and expansion opportunities for FLAWA Consumer. ZETRA supported us across a wide range of tasks with the highest level of expertise, entrepreneurial thinking and personal commitment and achieved outstanding solutions. We look forward to working together on future projects.» «ZETRA has advised the TRANSCO group with its 21 locations for more than 10 years regarding strategy and corporate finance projects. I really appreciate this cooperation both personally and in terms of content» «ZETRA supported us in selling our pneumatic clutch division. Thanks to ZETRA s deep expertise and international setup we were able to realize the transaction with TST Tamsan (Turkey) within only a few months.» CHRISTIAN BÜCHELER CEO AND SHAREHOLDER TRANSCO GROUP «The highly successful Robert Spleiss AG was family-owned in the second generation. I have made it my priority to prepare my succession planning early on. It was my goal that the familial company culture is retained. With Philipe Corti, Corti Holding AG, as new owner and sole shareholder, patronal leadership and a continuation of our culture has been secured in the best way possible. ZETRA has not only identified the ideal buyer, but has also carried the transaction in cooperation with myself to closing. I would embark on such a process with ZETRA again without hesitation.» NICOLAS HÄRTSCH CEO AND MEMBER OF THE BOARD OF DIRECTORS FLAWA HOLDING AG THOMAS MEIER-BICKEL CEO OETIKER GROUP CHRISTIAN SPLEISS FORMER SOLE SHAREHOLDER OF ROBERT SPLEISS AG, KÜSNACHT ZH 46 47

25 DEALMAKING EXCELLENCE ZETRA International AG Office Zurich Gottfried Keller-Strasse 5 Stadelhoferplatz CH-8001 Zurich P F Office Basel Gartenstrasse 59 CH-4052 Basel P F