Introduction to Oquendo Corporate
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Introduction to
Oquendo Corporate
Private & confidential 1Introduction to Oquendo Corporate
Introduction
Oquendo Corporate is an independent firm that provides financial advisory
services in mergers and acquisitions and other corporate finance related
Independence transactions. Oquendo also provides financial advisory services in
financing and debt restructuring. Our sole concentration in advisory allows
us to provide our service in an objective way and without conflicts of
interests
Oquendo Corporate has been operating since 2002, when it was founded
Experience by professionals from international investment banks that brought an
extensive experience in institutions such as JP Morgan Chase, Deutsche
Bank and Bankers Trust
Oquendo Corporate provides quality and taylor-made services to each of
its clients:
• To leading family-owned groups in key transactions regarding their
Excellence business development
• To major corporations in growth projects or transactions related to any of
its subsidiaries
• To Private Equity funds in their investment or divestment projects within
the Spanish market
Private & confidential 2Introduction to Oquendo Corporate
Services offered
Oquendo provides a broad range of financial advisory services:
• Advisory in the acquisition of companies or of partial equity stakes, both from the
sell-side and the buy-side
M&A Advisory • Advisory in merger processes
• Divestments from non-core businesses
• Finding new industrial or financial partners
• Analysis and valuation of strategic alliances, including also advisory services in
the establishment of joint-ventures
Financing and debt
restructuring • Leveraged Buyouts (LBOs) and MBO/MBI
• Debt restructuring
Other related • Valuation exercises and fairness opinions
services • Evaluation of new projects and assistance in preparing strategic plans
• Infrastructure projects and public tenders
• Capital markets: advisory in debt issuances, IPOs
Private & confidential 3Introduction to Oquendo Corporate
Experience of Oquendo Corporate
Since its foundation in 2002, Oquendo Oquendo´s position as adviser
Corporate has advised on transactions with a (% of cumulated value of transactions advised by
Oquendo Corporate)
total cumulated value of more than €5,000
million Debt restructuring
The Oquendo Corporate team has deep 10% Sell-side
experience in advising in acquisitions Merger 17% 38%
processes from both the sell-side and the
buy-side
34%
Traditionally, Oquendo Corporate has Buy-side
advised non-financial industrial groups.
However, Private Equity funds or some sort
Deal scope
of institutional financial investor have been
involved in one third of the closed operations (% of transactions advised by
Oquendo Corporate)
in which Oquendo has acted as advisor
Oquendo Corporate provides its advisory Cross-border
services primarily on domestic transactions, 29%
but it has an extensive experience in cross-
71%
border transactions that accounted for a 29%
of the total transactions advised Domestic
Private & confidential 4Introduction to Oquendo Corporate
Sectorial Experience
Oquendo Corporate has provided and continues to provide advisory services in a variety of sectors,
about which Oquendo has gained a deep knowledge that provides an important experience for future
transactions
In most cases, clients have mandated us as advisers in a repeat transaction, having led us also to
other clients within the same industry
Closed deals by sector
Security
Road Passenger Transport
Healthcare 9% 12%
6%
Energy and Environmental
Other Services
9% 14%
15% 11%
Other Industries Telecommunications and Media
3% 11%
10%
Food and Beverage
Technology
Automotive
Private & confidential 5Introduction to Oquendo Corporate
Past clients
Our team benefits from the experience of having worked and keep working with demanding and prestigious clients
Today, Corporate Oquendo is actively involved in many advisory mandates with clients who have requested our
assistance as financial advisor, even from a preliminary stage in which they decide which strategic path to follow
In any case, and regardless of with whom we have worked in the past or we are working at the moment, Oquendo
Corporate maintains a strong long-term commitment with each of our clients, making them our top priority at all times
Some of our clients
International Companies International Private Equity Funds and Financial Investors
Larger Local Companies
Local Private Equity Funds and Financial Investors
Medium-sized and Family-owned Companies
Debt providers
Private & confidential 6Introduction to Oquendo Corporate
Management team
Oquendo’s Manuel de Prado y Eulate Iñaki Salazar
approach Partner Partner
ensures that, for
each customer
• Founding partner since 2002 • Founding partner since 2002
assignment, a
team with the • Manuel de Prado has an extensive experience of more • More than 20 years of relevant M&A experience
required than 30 years in the financial services sector. Manuel having worked in Bankers Trust- Deutsche Bank’s
was Head of Chase Manhattan S.G.I.I.C., covering Madrid office where he was involved in a number
experience and
Private Banking and Asset Management in Spain and of domestic and international projects
capacities is
Portugal. Previously, Manuel had been for over fifteen • He has a BA in Economics from ICADE and a MBA
formed in order years Managing Director at the Chase Manhattan in the Stern School of Business of New York
to serve the best Bank, in charge of Corporate Lending and Investment University
interests of its Banking in Spain and Portugal
customers • Mr. De Prado has a degree from ICADE
In addition,
Oquendo relies
on a network of
specialized Joan Coll Paula Martín-Gromaz
associates that Partner Director
can provide
tailor made
• Partner based in Barcelona • Paula Martín-Gromaz joined Oquendo in 2005,
services for
• Extensive experience in management positions in since joining the firm she has been involved in
specific transactions in the food, internet, parking and
the banking and services sector in general,
assignments road transport passengers sectors, among
highlighting the positions of General Management
of the Paralympics Games in Barcelona 92 and others
General Manager of the FC Barcelona • Ms. Martín-Gromaz holds a degree in Business
Foundation. In recent years he has been focused Administration from Universidad Pontificia
in activities in the financial and real estate sectors Comillas de Madrid (ICADE)
• He has a BA in Law from the Universidad Autónoma de Barcelona and a
MBA in IESE
Private & confidential 7Introduction to Oquendo Corporate
Strategic alliance with Crowe Global
Crowe Global main figures:
Oquendo
Corporate
reached in 2014 Members Firms &
a strategic
Countries Offices Partners Staff Revenue
Business
alliance with Associates
Crowe Global,
by which it 200 130 750 3,500 36,500 US$3,800 M
became the
Corporate
Finance division
of Crowe in
Spain
The strategic
alliance with
Crowe
strengthened
Oquendo
positioning by
providing
access to an
international
network with
presence in 130
countries
Private & confidential 8Introduction to Oquendo Corporate
Recent Transactions
2019 2019 2018
2019
Grupo Amper
has acquired Formecal, Q8 Wizink has acquired
Estrella Galicia
producer of value added has acquired a 100% stake
has acquired a 49% stake
parts for the aeronautic the oil stations network in Aplazame
of the Portuguese
industry of Saras in Spain
Fábrica de Cervejas Portuense
has acted as financial advisor of has acted as financial advisor of has acted as advisor of
has executed an analysis and a valuation the buyer
the selling shareholders the seller
exercise of the Company for the buyer
2018 2017 2017 2017
Gesa Carburantes,
Aqualande owner of a network of 30 Estrella Galicia has acquired
has acquired a 100% stake station services, Tamoin has acquired Carlow Brewing Company,
in Piszolla has been acquired by 100% of Grupo Norton an Irish craft beer producer
Grupo Disa
has acted as advisor of has acted as advisor of has acted as advisor has executed a Company
the seller the seller of the buyer valuation for the buyer
Private & confidential 9Introduction to Oquendo Corporate
Other Transactions
2016 2016 2016 2016
TANKISA
EB Trans, the Belgian
Nazca has acquired Colegio de Huérfanos de multinational corporation, Grupo Seguriber has sold
a controlling stake in Caiba, Hacienda has sold APGISA has acquired Tankisa, its cleaning services division
a leading PET packaging to Grupo Docuworld a logistics company of to Grupo Lacera
producer in Spain
chemical products
transportation
has acted as advisor of has acted as advisor of has acted as advisor of has acted as advisor of
the buyer the seller the sellers Grupo Seguriber
2015 2015 2014 2014
APGISA, a company
controlled by Colegio de EYSA, a portfolio company The Sanchez Ramade Group
FoodBox, a company
Huérfanos de Hacienda, of N+1 Private Equity, has sold Cinesur to the
controlled by Nazca Capital,
has sold Keyfis has acquired SCI French Group MK2
has acquired Papizza
to Wolters Kluwer
has acted as advisor of has acted as advisor of has acted as advisor of has acted as financial adviser of
the seller the buyer the buyer the Sanchez Ramade Group
Private & confidential 10Introduction to Oquendo Corporate
Other Transactions (cont´d)
2014 2014 2013 2012 2012
Company Valuation exercise Company Valuation exercise
and valuation of the and valuation of the
Executives’ Stock Executives’ Stock Option Plan
Option Plan within the capital within the capital increase Grupo Seguriber and Umano
increase by a by a group of investors led have merged to create
Cristian Lay has acquired
group of investors led by by Qualitas Equity Partners a leading group within
a minority stake in
Qualitas Equity Partners Valuation exercise for an the security services
Gas de Extremadura
Impairment Test and Industry in Spain
from ENDESA
Asset Price Allocation
has acted as adviser of has acted as adviser of has acted as adviser of has acted as adviser to has acted as advisor of
the Company the Company the Company the buyer Grupo Seguriber
2012 2012 2011 2010 2010
N+1 and Dinamia Acens, a company controlled
Seguriber Majority have acquired EYSA, Ingenico has acquired by Nazca Capital, has
shareholders have the parking subsidiary of First Data Ibérica acquired Centrodedatos
Valuation Grupo FCC
exercise for an acquired Natixis and
Impairment Test Zurbaran minority stake
in the company
has acted as adviser of has acted as financial advisor of has acted as advisor of has acted as advisor of has acted as advisor of
the Company Grupo Seguriber the acquirer the acquirer the acquirer
Private & confidential 11Introduction to Oquendo Corporate
Other Transactions (cont´d)
2010 2009 2008 2008 2007
MP Corporación Industrial Doughty Hanson has
has reached an industrial Acens, a company acquired CTSA-Portillo from
Grupo Alsa has
agreement with Duplex acquired the 100% of controlled by Nazca FCC and Veolia
MP Corporación Industrial Elevación, which includes Transportes Colectivos Capital, has acquired
has reached an agreement the sale of a portfolio Ferca and Veloxia
to restructure its financial of management
debt contracts in Spain
has acted as advisor of has acted as advisor of has acted as advisor of has acted as advisor of has acted as advisor
MP Corporación MP Corporación the acquirer the acquirer of the acquirer
2007 2007 2007 2007 2007
ENCE Group has sold
Acens, a company Cosalt has acquired SSM, ACE Automotive
Eucalipto de Pontevedra Group has sold a
controlled by Nazca Sistemas de Seguridad
to Nefab minority stake in
Capital, has acquired Marítima
Composite Grupo Risi has
Hostalia acquired Fábrica de
Aerodinamic Group
Patatas
El Castillo
has acted as advisor of has acted as advisor of has acted as advisor of has acted as advisor of has acted as advisor of
the acquirer the seller the acquirer the seller the acquirer
Private & confidential 12Introduction to Oquendo Corporate
Other Transactions (cont´d)
2006 2006 2006 2006 2006
Grupo Alsa has acquired Ticketmaster has
Grupo Fujikura has A consortium of institutions
a minority stake in acquired Tick Tack
acquired a 60% stake in Mercapital has acquired have subscribed a capital
Transportes Colectivos Ticket
ACE Automotive Group a majority stake in increase in Refinería Balboa
Gasmedi
has acted as advisor of has acted as advisor of has acted as advisor of has acted as advisor of has acted as advisor of
the seller Grupo Alsa the seller Mercapital Refinería Balboa
2006 2006 2005 2005 2005
Tarraco Eólica, S.A.
Eolia Mistral de Inversiones,
Shell has become S.C.R. has acquired
the technological partner a minority interest has acquired Grupo Alsa Sacyr Vallehermoso Grupo Alfonso Gallardo
of Refinería Balboa in Tarraco Eólica, S.A. has acquired Sufi, S.A. has acquired the wired rod
activities of Arcelor in Spain
has acted as advisor of has advised the shareholders of has acted as advisor of has advised the seller in its has acted as advisor of
Refinería Balboa Tarraco Eólica the buyer evaluation of the company the buyer
Private & confidential 13Introduction to Oquendo Corporate
Other Transactions (cont´d)
2005 2005 2004 2004 2004
A consortium of savings Comunitel has acquired
The Phone House has
banks have acquired a 100% of the share capital of
Pryconsa has acquired acquired 100% of the
Structuring €318 of senior 20% interest in Group Ola Internet from the
Residencial Valmonte share capital of Xtra
and subordinated debt Antolín through a capital management team and
increase of € 80 mm Telecom
facilities to finance the Service Point Solutions S. A.
acquisition of the wire rod
activities of Arcelor in Spain
has acted as advisor of has acted as advisor has acted as advisor of the has acted as advisor has acted as advisor of
Grupo Alfonso Gallardo of the seller Grupo Antolín of the buyer the sellers
2003 2003 2003 2003 2002
Germinus has sold its 67% Aceros y Forjas de Azkoitia
The management team of
capital interest in (AFORASA), owner of GSB
A group of private Ola Internet has acquired
Tecnipublicaciones to the group, and Corporación
Torreal has acquired a from Service Point Solutions
investors have acquired management team of the Industrial Egaña, have
minority stake in Sufi, S. A. S. A. a 60% of the share
Tick Tack Ticket from company reached an agreement to
Telefónica and BBVA capital of the company merge the companies into a
new company called
has acted as advisor of has acted as advisor of has acted as advisor of has acted as advisor of has acted as advisor of
the buyer the seller the seller the buyer AFORASA
Private & confidential 14Introduction to Oquendo Corporate
Why Choosing a Financial Advisor?
• Both the incorporation of a strategic or financial partner in a midsize company and
Experience the purchase of another company, often has strong implications for shareholders.
This fact, coupled with the complexity of the process, recommends a professional
advice by specialized and daily experience people in similar transactions, to
ensure that the sale is conducted in an orderly and confidential way maximizing
shareholder's value
• The sales processes are often marked by lengthy negotiations and a high
Time and Service consumption of time and resources that can distract shareholders in the
management of the company. The financial advisor's labor is to reduce the time
spent in the transaction, ensuring that it can continue to manage the day to day
business while negotiations take place
Valuation • The application of different valuation techniques require both technical and market
comparison work. Experience shows that an objective valuation work is an
important element of the negotiation towards a possible transaction with a third
• The remuneration of Oquendo as financial adviser is linked to the success of the
Goal Alignment transaction, linking most of our fees to the effective closure of the transaction and
establishing, where appropriate, the same in terms of price obtained for the
management. This ensures a committed attitude to the purposes of the
shareholders
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