CedarBridge Partners. Corporate Presentation

Size: px

Start display at page:

Download "CedarBridge Partners. Corporate Presentation"

Jade Miles
5 years ago
Views:

1 CedarBridge Partners Corporate Presentation 2019

2 CedarBridge Partners - Overview Who We Are CedarBridge Partners invests in solid and promising companies and management teams. We partner with and support our portfolio companies both financially and operationally to achieve exceptional growth Investment Vehicles CedarBridge High Growth 1 Invested $1 to $10mn in operating companies in MENA that combine both growth and cash flow generation CedarBridge High Growth 2 Currently investing $2 to $20mn per transaction in Education, Healthcare, and Retail Services Co-investment Vehicles Customized and flexible co-investment vehicles for our investors and partners to invest in selected opportunities alongside CedarBridge 2

3 Sector Focus with Strong Industry Expertise Education Healthcare Retail and Consumer Nurseries Laboratory Chains Restaurants K-12 Schools Clinics Coffee Shops Areas of Investment Universities & Colleges Training Academies Test Centers Content Development (mainly Digital) Pharma Distributors Cosmetic Centers Equipment Maintenance Day Surgery Centers Radiology Centers Spas Beauty Salons Sports Shops Cosmetics Investee Companies 3

4 Geographical Focus CedarBridge team has demonstrated a hands-on ability to grow businesses across the GCC, United Kingdom, Egypt, Cyprus and the Levant while having significant investment knowledge of Turkey, East Africa, Morocco and Tunisia United Kingdom Turkey Cyprus Tunisia Morocco Egypt Lebanon Kuwait Qatar UAE Saudi Arabia Oman Kenya Very Familiar Invested 4

Investment Style Operationally Savvy & Resourceful Deep Sector Knowledge

and Independent Thinkers Strict Investment Discipline Best Global Practices

Sectors Access to Proprietary Deals Focus on Returns, not Size Focus on

5 Investment Style Operationally Savvy & Resourceful Deep Sector Knowledge Operational Expertise Seasoned Investment Team & Advisory Board Innovative and Independent Thinkers Strict Investment Discipline Best Global Practices Well-versed with MENA region Proprietary Deal Flow Deep Networks in Focus Sectors Access to Proprietary Deals Focus on Returns, not Size Focus on Investor Returns Long-term Buy and Build Strategy for small, promising companies 5

6 Three-pronged Unique Strategy Buy solid businesses at reasonable multiples Expand business lines or geographic footprint while controlling cost and capital expenditure Maintain positive operating cash flow from the businesses Distributions in the short-term and Capital gains in the long-term 6

Core Strengths >12 years 20+ >$1bn 45+ years of Managing Directors working together deals done of cumulative AUM in prior experience cumulative experience in investing Well-rounded, Experienced Team

7 Core Strengths >12 years 20+ >$1bn 45+ years of Managing Directors working together deals done of cumulative AUM in prior experience cumulative experience in investing Well-rounded, Experienced Team Flat Structure International Expertise Private Equity and Venture Capital SME / Entrepreneurial IT Consulting Industrial Multinationals Family Businesses Three Managing Directors covering all aspects of the deal Sourcing Due diligence Closure Post-acquisition monitoring Value creation Managing Directors with experience in multiple geographies particularly in Europe and MENA 7

Experienced Leadership Team with an Impeccable Track Record (1/3) Imad Ghandour Co-Founder & Managing Director A well recognized regional Private Equity investor, Imad Ghandour, co-founded

8 Experienced Leadership Team with an Impeccable Track Record (1/3) Imad Ghandour Co-Founder & Managing Director A well recognized regional Private Equity investor, Imad Ghandour, co-founded CedarBridge Partners. He is also a member of its Investment Committee Mr. Ghandour is a board member of the MENA Private Equity Association (MPEA). He is also the Editor-in-chief of MPEA s Annual Report since 2006 Mr. Ghandour represents CedarBridge in Advanced Laboratory Services (now exited), a leading provider of isometric medical testing in Saudi Arabia; CIRA, the largest education company in Egypt, and Kids First Group, the largest chain of nurseries in GCC. He co-leads all transactions, and continues to monitor investments. He also leads the acquisition program of Kids First Group which has closed 5 acquisitions to date Prior to CedarBridge, Mr. Ghandour was an Executive Director- Private Equity at Gulf Capital based in the UAE. Prior to Gulf Capital, he was an Independent Consultant for 12 years, working with several regional and international organizations on investment and market research assignments He has successfully invested over $220mn throughout the MENA region in strategic sectors including Healthcare, Education, and Utilities Mr. Ghandour also holds directorships in Ma arif Education and Training Holding; Metito Holding Ltd; and TechnoScan Investment Holding Graduated in Computer Engineering from American University of Beirut, Mr. Ghandour holds an MBA from University of Wisconsin. He was also awarded with the prestigious Private Equity Man of the Year Merit Award in

Experienced Leadership Team with an Impeccable Track Record (2/3) Magellan Makhlouf Co-Founder & Managing Director Magellan Makhlouf is a seasoned Business and Private Equity leader.

9 Experienced Leadership Team with an Impeccable Track Record (2/3) Magellan Makhlouf Co-Founder & Managing Director Magellan Makhlouf is a seasoned Business and Private Equity leader. His international experience has developed through multiple postings, board positions and leadership roles, across numerous industries Prior to CedarBridge Partners, Mr. Makhlouf was the MD, Private Equity at Gulf Capital based in the UAE Mr. Makhlouf s extensive Board experience includes Ma arif Education and Training Holding; Metito Holding Ltd; Gulf Marine Services; and Techno Group Prior to working in the UAE, Mr. Makhlouf worked for Johnson Controls in Brussels, Belgium for 5 years, most recently as Director of Marketing, Service and Solutions - EMEA Prior to Johnson Controls, Mr. Makhlouf was at General Electric (GE) for 8 years in various business units and leadership roles in North America and Europe. During his stint at GE, and in addition to his business roles, he also won numerous management leadership awards and taught GE s Executive Training Program Graduated with a BSBA from the University of Windsor in Ontario, Canada from GE s Executive Financial Management Program, Mr. Makhlouf is also a certified six-sigma black belt 9

Experienced Leadership Team with an Impeccable Track Record (3/3) Mohamed Sharara Managing Director Prior to joining CedarBridge Partners, Mohamed Sharara served as Managing Director-Investments at

10 Experienced Leadership Team with an Impeccable Track Record (3/3) Mohamed Sharara Managing Director Prior to joining CedarBridge Partners, Mohamed Sharara served as Managing Director-Investments at the Bahamdan Group Mr. Sharara served on the senior management committee and as board director and executive committee member for a number of companies, including Tas helat, Sahl Retail, Sahl Transport and Sara Business Solutions, and closely advised on Aluminum Products Company, Health Water Bottling, Farabi Petrochemicals and the Economic Cities of Saudi Arabia Prior to Bahamdan Group, Mr. Sharara served as an Executive Director - Private Equity at Gulf Capital in the UAE for 5 years, focusing on proprietary sourcing, origination and execution of Private Equity transactions, with particular emphasis on F&B industrial and retail, as well as on fund raising and investor relations Before moving to the UAE, Mr. Sharara was Vice President at JPMorgan Investment Banking M&A as well as in Wealth Management, based out of London and Geneva offices. He was a member of the JPMorgan team advising Saudi Aramco on the Natural Gas Initiative Previously, Mr. Sharara was based in the United States (Boston and Washington DC) with the BV Group (Safanad) where he assessed and closed VC transactions in the US and led work on international business development Mr. Sharara holds a Bachelor of Science and a Master of Science in Manufacturing Engineering with a Concentration in Operations Management from Boston University where he graduated Summa Cum Laude, and an MBA from INSEAD 10

11 Recognized Thought Leaders in Private Equity The firm was currently positive on businesses correlated to government budget spending, which included infrastructure, education and healthcare, said Magellan Makhlouf 11

12 Operating Advisory Board Financial Advisory Board Financial & Operating Advisory Board Founder, Z Capital James Zenni and Black Diamond Capital, USA Amaury Junior Founding Partner Vision Brazil Investments, Brazil Managing Director David Lin Primavera Capital, China Wallace Doolin Ralph Tabberer Dr. Hamad Al-Omar Ex-CEO, TGI Fridays, USA CB MA D.Ed FRSA, UK Founder mhealth Company, Saudi Arabia Guy Sauvage Tarek Antrazi Elias Monem Chief Executive Officer, Al Meera, Qatar Founder Mars Media Services, Ex COO Starcom Mediavest Europe, UAE CEO, Agility MENA, Saudi Arabia 12

13 Past Investments 13

Past Investments The Company Investment Terms Returns Summary Kids First Group (KFG) UAE & Qatar CedarBridge co-founded KFG in 2011 along with

sector, and one of the largest operators of nurseries in the MENA region Representation on the Board of Directors and Executive Committee MoM of

with 21 operating schools all around Egypt and 17,000 enrolled students CIRA also owns and operates Badr University in Cairo In 2012, CedarBridge

in US Dollars; 46% in Egyptian Pounds Advanced Laboratory Services (ALS)- Saudi Arabia ALS is the leader in Saudi Arabia in advanced medical

14 Past Investments The Company Investment Terms Returns Summary Kids First Group (KFG) UAE & Qatar CedarBridge co-founded KFG in 2011 along with Kamil Najjar who served as the CEO Owned a large minority of KFG Exit in July 2018 KFG has grown into a regional leader in the early childhood sector, and one of the largest operators of nurseries in the MENA region Representation on the Board of Directors and Executive Committee MoM of 6.5x Invested Capital IRR on Exit: 36% Cairo For Investment & Real Estate (CIRA) - Egypt CIRA is the largest operator of K-12 schools in Egypt with 21 operating schools all around Egypt and 17,000 enrolled students CIRA also owns and operates Badr University in Cairo In 2012, CedarBridge invested into a minority equity stake in a coordinated effort with the IFC Representation on the Board of Directors Exit in 2015 IRR on Exit: 28% in US Dollars; 46% in Egyptian Pounds Advanced Laboratory Services (ALS)- Saudi Arabia ALS is the leader in Saudi Arabia in advanced medical diagnostic, with 70% market share and offices in Riyadh, Jeddah and Dammam In 2011, CedarBridge acquired 51% of ALS Exit in December 2012 IRR on Exit: 35% 14

15 Current Investments 15

16 I. Education 16

Eton Institute - UAE About the Company Investment Terms Established in 2006 and headquartered in Dubai Knowledge Village, Eton Institute provides languages and

groups and professions including individuals, government entities and corporates % Acquired: 100% Year of Investment: June 2018 Investment Strategy: Working

17 Eton Institute - UAE About the Company Investment Terms Established in 2006 and headquartered in Dubai Knowledge Village, Eton Institute provides languages and professional skill solutions in the UAE Eton operates out of two locations in Dubai and Abu Dhabi where it offers a set of learning programs for various age groups and professions including individuals, government entities and corporates % Acquired: 100% Year of Investment: June 2018 Investment Strategy: Working closely with the management team to grow the business Eton Institute is accredited by EAQUALS (the evaluation and accreditation of quality in language services) 17

SAE Institute - UAE About the Company SAE Dubai was founded in 2005 as a branch

revenues, 58 institutes in 27 countries, part of Navitas Group) SAE has a unique

audio, gaming, multimedia, and animation, in addition to short-term courses under

2015 and 100% acquisition in 2017 Investment Strategy: Supporting management in

18 SAE Institute - UAE About the Company SAE Dubai was founded in 2005 as a branch campus of the world's largest media education provider SAE Institute ($130+mn revenues, 58 institutes in 27 countries, part of Navitas Group) SAE has a unique offering with no direct competitor in the UAE; offers bachelor degrees in film, audio, gaming, multimedia, and animation, in addition to short-term courses under the same topics Investment Terms % Acquired: 100% Year of Investment: 76% in H and 100% acquisition in 2017 Investment Strategy: Supporting management in expanding SAE business and operation SAE degree graduates receive accredited Australian degrees 18

19 II. Retail and Consumer 19

Costa Coffee - Cyprus About the Company Costa Coffee, founded by Sergio and Bruno Costa, in 1971 in London, UK, offers handmade Italian coffee to customers Costa Coffee is recognized as a leading

20 Costa Coffee - Cyprus About the Company Costa Coffee, founded by Sergio and Bruno Costa, in 1971 in London, UK, offers handmade Italian coffee to customers Costa Coffee is recognized as a leading coffee brand and has developed a strong footprint in Europe and internationally Established in 2004 with its first store in Nicosia (2005), Symeonides Coffee Cyprus Limited (Costa Coffee Cyprus), is the sole Costa Coffee Franchise in Cyprus; currently operates 23 stores on the Island Investment Terms % Acquired: 70% Year of Investment: 2018 Investment Strategy: Actively supporting the company in its strategic expansion plans in Cyprus 20

Sisters Beauty Lounge (SBL) UAE About the Company Founded in 2004, Sisters Beauty Lounge (SBL) is

body treatments Operates through its 7 owned centres in Dubai and Abu Dhabi with presence in all

SBL is considered the second largest chain of female grooming services in UAE Investment Terms %

21 Sisters Beauty Lounge (SBL) UAE About the Company Founded in 2004, Sisters Beauty Lounge (SBL) is currently positioned as a premium female beauty lounge, providing full range of hair, nail and body treatments Operates through its 7 owned centres in Dubai and Abu Dhabi with presence in all the large malls of Dubai including The Dubai Mall, Mall of the Emirates, and Mirdif City Centre SBL is considered the second largest chain of female grooming services in UAE Investment Terms % Acquired: 100% Year of Investment: 2015 Investment Strategy: Significant expansion of business in the UAE 21

The Grooming Company (TGC) - UAE About the Company Founded

company of three grooming/beauty brands The Company

Bar, followed by male grooming lounge 1847 in 2004, and

Investment Terms % Acquired: 100% Year of Investment: 2015

remaining 49% in 2017 Investment Strategy: Actively

22 The Grooming Company (TGC) - UAE About the Company Founded in 2001 in Dubai, The Grooming Company (TGC) is the parent company of three grooming/beauty brands The Company started as a nail bar in Jumeirah area called N.Bar, followed by male grooming lounge 1847 in 2004, and wash and blow dry concept hair care lounge JetSet in 2005 Investment Terms % Acquired: 100% Year of Investment: 2015 acquisition of 51% followed by the acquisition of the remaining 49% in 2017 Investment Strategy: Actively supporting the company in its strategic expansion plans both in the UAE and abroad 22

23 Trevor Sorbie (TSI) UK About the Company Founded in 1979 Trevor Sorbie International ( TSI ) is a leading chain of hair salons in the UK that is continually ranked among the top hair salon brand TSI operates 6 salons in the UK and one flagship store in Dubai Mall. In addition, TSI distributes a range of retail and professional products under the brand name Trevor Sorbie, both in the UK and internationally Investment Terms % Acquired: 100% Year of Investment: 2017 Investment Strategy: Actively supporting the company in its strategic expansion plans both in the UK, UAE and other international markets 23

Stripwax - UK About the Company Founded in 2005 by sisters

beauty salons mainly focusing on waxing services and laser hair

Investment Terms % Acquired: 100% Year of Investment: 2018

24 Stripwax - UK About the Company Founded in 2005 by sisters Danielle and Maria-Louise Strip owns and operates a chain of 6 beauty salons mainly focusing on waxing services and laser hair removal Strip boasts many celebrities amongst its clients Investment Terms % Acquired: 100% Year of Investment: 2018 Investment Strategy: Actively supporting the company in its expansion plans in the UK 24

Dreamworks Spa UAE About the Company Dreamworks Spa (DWS) was established in 2007 and is the largest

in shopping centres DWS plans to maintain its leadership in the wellness sector and to expand its

2013, CedarBridge acquired 75% of DWS, and has since acquired the remaining 25% to fully own the

25 Dreamworks Spa UAE About the Company Dreamworks Spa (DWS) was established in 2007 and is the largest chain of wellness centres in Dubai, operating 22 centres in standalone locations, inside hotels, and in shopping centres DWS plans to maintain its leadership in the wellness sector and to expand its footprint into more 5 star hotel locations Investment Terms % Acquired: 100% Year of Investment: In 2013, CedarBridge acquired 75% of DWS, and has since acquired the remaining 25% to fully own the company Investment Strategy: Supporting the company s expansion in the UAE and into new attractive services 25

also offers corporate yoga services, yoga excursions, and other yoga teacher training Investment Terms % Acquired:

26 Zen Yoga (ZY) UAE About the Company Zen Yoga was founded in 2006 to spread awareness of yoga and its benefits, and is the first yoga centre in Dubai Zen Yoga now operates 3 studios and is one of the best known yoga chains in Dubai It also offers corporate yoga services, yoga excursions, and other yoga teacher training Investment Terms % Acquired: 100% Year of Investment: 2014 Investment Strategy: Focused on enhancing operational efficiency and expand the network 26

27 Surge Ventures Inc. (SHEDUL) UAE About the Company Launched in Dubai in 2015, Surge Ventures Inc. provides cloud software solutions targeting the Wellness and Beauty industry Through its main offerings Schedul and Fresha, it provides venue management software and an integrated booking platform connecting Spa and Salon businesses with consumers online The Company has been experiencing fast exponential organic growth with currently thousands of businesses using its services globally and millions of online appointment bookings since inception Investment Terms % Acquired: In 2015, CedarBridge acquired a minority stake in Surge Ventures and increased its investment in 2016 Year of Investment: 2015 & 2016 Investment Strategy: Support the growth of the Company through expanding its retail channels in the wellness industry 27

28 III. Healthcare 28

Al Shams Laboratories (Shams) Egypt About the Company Al Shams Laboratories (Shams) was founded

Ahmed Al Safi, founder of Al Borg Lab and other partners Shams has successfully opened 62

network in Egypt Investment Terms % Acquired: Minority Stake Year of Investment: 2015

29 Al Shams Laboratories (Shams) Egypt About the Company Al Shams Laboratories (Shams) was founded in 2012 by Dr. Ahmed Al Safi, founder of Al Borg Lab and other partners Shams has successfully opened 62 branches throughout Egypt in a short span of 3 years, making it the second largest branch network in Egypt Investment Terms % Acquired: Minority Stake Year of Investment: 2015 Investment Strategy: Supporting the owners in strategic decisions, international linkages, and financial organization Shams operates 3 highly accredited central laboratories to service its network 29

F O R M O R E I N F O R M A T I O N I N F O @ C E D A R - B R I D G E.

30 F O R M O R E I N F O R M A T I O N I N F C E D A R - B R I D G E. C O M W W W. C E D A R - B R I D G E. C O M Founding Member of Member of 30

CORPORATE PRESENTATION

CORPORATE PRESENTATION 2015 CedarBridge invests in solid and promising MENA companies and management teams. We then support them both financially and operationally to achieve exceptional growth CedarBridge