2. Introduction
Meridian Corporate Finance LLP (“Meridian”) established in 2002
Based in Southampton - with global reach and experience
ICAEW authorised and a member of the BVCA
CF specialists – no DD / Financial Assistance / Tax / Audit
Manage Meridian Growth Capital LLP
As a result we have more deal experience than our competitors
20 plus deals in the last 36 months. Range currently c.£5m-c.£50m
2
3. Directors
MICHAEL BARCIA
Michael is a Chartered Accountant and became a corporate finance advisor in 1996, establishing
the forerunner of Meridian Corporate Finance LLP in 2002. Michael holds the Corporate Finance
qualification and is retained by a number of companies in a strategic financial capacity.
He has experience in over 150 deals and is a Chartered Accountant and holder of the CF
qualification.
DARREN THOMPSON
Darren joined Meridian as Director in 2003. With 20 years experience in banking and venture
capital, Darren served on the boards of a number of companies and was a member of the British
Venture Capital Association Hi-Tech Committee. Darren has specific technology deal and
operational experience.
Fellow of the Chartered Institute of Bankers, holder of the CF qualification and a member of the IT
Non-Executive Directors Association. He currently holds non-executive directorships with a
number of IT related businesses.
3
4. Who We Are
JAMES ELLIS
Associate
Joined Meridian October 2008
Ex PWC
Background in accountancy
Managing transactions <£5m
KELLY CHEALES
Office Manager
Joined Meridian September 2007
First point of contact with clients
Assist in research into sectors and
potential acquirers
Support role for Directors and
Associates
MATHEW WILSON
Associate
Joined Meridian June 2010
Solicitor on secondment from Blake
Lapthorn
Supporting the directors on transactions
PHILIPPA ROBINSON
Associate
Joined Meridian August 2010
Ex KPMG
Background in Accountancy
10 years experience in Corporate
Finance
Managing transactions
4
5. Services
We are
‘Strategic Advisers’
to companies in
relation to:
Mergers & Acquisitions – identification of targets, production of IM/Financial
Forecasts and leading negotiations
Disposals – researching acquirers and approaching the market. “Rifle-shot not scatter
gun”
Raising Finance – expansion capital, MBO’s and MBI’s
Ongoing Advisory work & strategic support – non-executive directorships, bid support
work for VC’s, business planning and forecasting, contract and licensing and
negotiations
We provide our ongoing clients with VC like executive advice
6. Our Role
We act as lead advisors on transactions:
Disposals
Management Buy Outs (MBOs) and Management Buy Ins (MBIs)
Fund raising
Acquisition searches
We provide strategic advice
We drive the process in negotiating price or terms with potential acquiror/
funders
We project manage the deal process and take the responsibility for managing the
deal so that there is minimum interference with day to day running of the
business
We produce high quality financials that will stand up to due diligence
We facilitate the transaction in all aspects and make sure the deal completes
“We were certainly able to gain
access to a number of highly
credible potential investors in a
relatively short space of time
with the minimum of disruption
to the business.”
Simon Hancock
FD and Co Founder
Control Circle Limited
7. Our Approach
Meridian’s approach is driven by accounting / venture capital / industry
best practice
We aim to “operationally” understand the following (as this is what the
investor will base their decision on);
The calibre of the management team and the scale of the
opportunity
The business model / financial forecasts vs. finance requirements
Channels to market, supplier relationships, competitive landscape
and pricing pressures
Return on investment, risk analysis, structuring and exit
In addition to experience, we run Meridian Growth Capital LLP and
understand what an investor looks for.
We very quickly understand where the “strategic premium” is within the
investment proposition and present this to the investment community to
yield optimum results. 7
“The Meridian team fully
immersed themselves into the
business and we were impressed
with their thorough and
professional approach, leaving no
stone unturned. They developed a
very detailed understanding of
the commercial and financial
workings of our business very
quickly and there is no doubt that
we would not have been able to
achieve the deal price and
structure without this approach.”
Russell Merry
Former Director of Hot Wheels
8. Areas of Expertise
FAST MOVING CONSUMER GOODS
TELECOMMUNICATIONSINSURANCE
BIOTECHNOLOGY
AEROSPACE & DEFENCE
TECHNOLOGY & IT
OIL & GAS
8
9. Sample Transactions
PRIVATE EQUITY
TRANSACTION
Datacentre and hosting specialists.
Quinetiq angle. Recurrent revenue
& IP led disposal. P/E 24x.
Transaction value £21m.
Completed 2010
DISPOSAL TO ATMEL Inc
Capacitive touch sense specialist.
Strategic Premium - IP led disposal.
P/E 65x.
Transaction value $130m.
Completed 2008
DISPOSAL TO CONNAUGHT
PLC
Compliance software within local
government supply chain. Strategic
acquisition. P/E 22x. Transaction
value £5.4m.
Completed 2010
9
10. Sample Transactions
BUY BACK FROM 3i
Solutions in engineering and design
and composites. Military and
commercial suppliers. Acoustic
experts.
Completed 2008
DISPOSAL TO DOREL Inc,
CANADA
UK’s largest distributor of Dorel
and own brand cycles.
Completed 2009
10
PURCHASE BY MBO TEAM
UPS and power generation
suppliers.
Military and corporate applications.
Completed 2009
11. Summary
We have a proven track record of comparable transactions, in terms of:
Sector focus
Cross-boarder capability
We provide a highly personalised Corporate Finance service that provides
a tailored and innovative approach to problem solving to ensure we meet
your requirements
We uniquely see issues from a funders/ buyers perspective; experienced
in dealing with complex propositions;
We can work with you to decide on the best strategic options available,
using our expertise to ensure you get the best value
Dealing with investors with a “hands on” boutique approach and the
people you meet are the people you deal with.
11
“The Meridian team’s advice
and experience were truly
magnificent, and without
whom this deal would never
have initiated or been valued
as high as it was.
Truly, in my entire career, I
have never seen such a terrific,
awesomely professional, hard
working team of people in my
life.”
Hal Philipp
former CEO of
Quantum Research Group Ltd.
12. Contact
Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities.
Member of the British Venture Capital Association.
Registered Number: OC313418
Registered Office: The Coach House, Rownhams House, Rownhams, Southampton, Hampshire SO16 8LS. 12
The Coach House
Rownhams House
Rownhams
Southampton
Hampshire
SO16 8LS
Tel: +44 (0)844 225 8800
Email: info@meridiancf.com
Website: www.meridiancf.com