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B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST) MODERATOR: Axel Christiansen, Vice President - Renaissance Mergers & Acquisitions PANEL: David Allardice, Partner, Miller Titerle & Company Rick Gendemann, Partner, Manning Elliot LLP James Knight, Director – Transaction Advisory, RSM Canada Michal Pisarek, Co-founder, Dynamic Owl Consulting Gary Powroznik, Managing Director, G-Force Group Sponsored by

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Page 1: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

MODERATOR:Axel Christiansen, Vice President - Renaissance Mergers & Acquisitions

PANEL:David Allardice, Partner, Miller Titerle & Company

Rick Gendemann, Partner, Manning Elliot LLP

James Knight, Director – Transaction Advisory, RSM Canada

Michal Pisarek, Co-founder, Dynamic Owl Consulting

Gary Powroznik, Managing Director, G-Force Group Sponsored by

Page 2: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

[email protected] [email protected]

[email protected]

[email protected]

Axel Christiansen

James Knight

David Allardice

Michal Pisarek

Rick Gendemann

[email protected]

Gary Powroznik

Page 3: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

Who Should Be On Your Exit Team?…and what do they do?

Page 4: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

Weakening Performance

OperationalDifficulties

Profitability Issues

FinancialDifficulties

Distress/Insolvency

• Strategic acquisition• Revenue enhancement

Normal Course of Business

Advisors

Restructuring&Turnarounds

Restructuring& Recovery

Underperforming/Troubled Businesses,Real Estate Projects & Investments

Insolvent Businesses & Problem Real Estate Projects

Proposal under BIA/CCAA

ForeclosureReceivershipBankruptcy

Stabilize SituationRecovery Solutions

RecoverySolutions

LiquidityIssues

Increase Value

Enhancing Performance

Growth

Page 5: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

Recognizing Distressed M&A Situations

• Does not fit normal desired M&A target by private equity

• Current or looming liquidity problems

• Chronically weak operating results

• Lack of markets

• Lack of capital

• Inattentive or weak management

• Lack of exit plan

Page 6: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

Source of Information, Advice and Wisdom for Developing

Business & Capital Decisions

6

• M&A and Capital Market specialists

• Industry specialists

• New Management expertise

• Professionals: law, banking, risk management…

• Existing team analysis

• Self analysis/mentor

Page 7: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

Distressed M&A – Core Team1. Emergency room/acute care experience in successfully:

• Managing an overall exit strategy

• Improving operating results/Unlocking asset values

• Attracting strategic buyers/investors

2. Key operational management & support

3. Outside professionals: legal, accounting, insolvency,

industry specialists as needed

4. Personal advisor/mentor (crucial)

Page 8: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

How Do You Find and Select Exit Advisors?

Page 9: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)
Page 10: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

10

Distressed M&A - Recovery Solution Framework

Business & Restructuring

Solution

RealizationSolution Recovery

Legal Framework

Transaction

Process

Page 11: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

Who Is In Charge?

Page 12: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

Distressed M&A – Typical Wins For an Owner

1. Recover Value & Shift Risk to Strategic Buyer/Investor• Get multiple on earnings improvement• Obtain value from non-core assets• Share in the future: management, earnings

2. Reduce/Eliminate Risk• Avoid throwing good money after bad• Eliminate personal guarantees• Recover shareholder loans• Relieve the burden and get on with your life!

Page 13: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

Fees:How Much Is This Going to Cost?

Page 14: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

Distressed M&A – Typical Wins For an Owner

1. Recover Value & Shift Risk to Strategic Buyer/Investor• Get multiple on earnings improvement• Obtain value from non-core assets• Share in the future: management, earnings

2. Reduce/Eliminate Risk• Avoid throwing good money after bad• Eliminate personal guarantees• Recover shareholder loans• Relieve the burden and get on with your life!

Page 15: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)
Page 16: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

Horror Stories

Page 17: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

Questions For The Panel?

Page 18: B2: HOW TO BUILD THE BEST EXIT TEAM (& WHAT IT WILL COST)

Thank You To OurSession Sponsor


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