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Preparing & Executing the Perfect Exit MODERATOR: Michal Karwacki Partner Squire Patton Boggs 10:30-11:30

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Page 1: Ppec exit panel presentation

Preparing & Executing the Perfect Exit

MODERATOR:

Michal KarwackiPartnerSquire Patton Boggs

10:30-11:30

Page 2: Ppec exit panel presentation

PARTICIPANTS Preparing & Executing the Perfect Exit

Witold RadwanskiManaging PartnerKrokus Private Equity

Sylwester JanikSenior PartnerMCI Capital

Bill WatsonManaging PartnerValue 4 Capital

Malgorzata Bobrowska-JarzabekCo-Founder & PartnerResource Partners

Tomasz StamirowskiManaging PartnerAvallon

MODERATOR:Michal KarwackiPartnerSquire Patton Boggs

Resource Partners Exit - Good Food (rice waffles producer)

Transformation Transformation of Company from local player to top 3 European producer

Return on investment

3.0x

Company almost doubled income since Fund’s investmentIncome

http://www.resourcepartners.eu/
Page 3: Ppec exit panel presentation

PARTICIPANTS Preparing & Executing the Perfect Exit

Witold RadwanskiManaging PartnerKrokus Private Equity

Sylwester JanikSenior PartnerMCI Capital

Bill WatsonManaging PartnerValue 4 Capital

Malgorzata Bobrowska-JarzabekCo-Founder & PartnerResource Partners

Tomasz StamirowskiManaging PartnerAvallon

MODERATOR:Michal KarwackiPartnerSquire Patton Boggs

MCI Exit - Invia/Travelplanet (No. 1 e-travel agent in CEE)

Return on investment

Benchmark

Exit value EUR 76M

Enterprise value = EBITDA 11.7x vs benchmark EBTIDA 10.3x

11x (on primary investment) and 3.5x (on secondary investment)

Page 4: Ppec exit panel presentation

PARTICIPANTS Preparing & Executing the Perfect Exit

Witold RadwanskiManaging PartnerKrokus Private Equity

Sylwester JanikSenior PartnerMCI Capital

Bill WatsonManaging PartnerValue 4 Capital

Malgorzata Bobrowska-JarzabekCo-Founder & PartnerResource Partners

Tomasz StamirowskiManaging PartnerAvallon

MODERATOR:Michal KarwackiPartnerSquire Patton Boggs

Avallon Exit - Organic Farma Zdrowia (healthy food stores)

Return on investment

Transformation

Growth

Company almost tripled revenues since Fund’s investment

2.0x

Sale at early growth stage forced by Fund cycle

Page 5: Ppec exit panel presentation

PARTICIPANTS Preparing & Executing the Perfect Exit

Witold RadwanskiManaging PartnerKrokus Private Equity

Sylwester JanikSenior PartnerMCI Capital

Bill WatsonManaging PartnerValue 4 Capital

Malgorzata Bobrowska-JarzabekCo-Founder & PartnerResource Partners

Tomasz StamirowskiManaging PartnerAvallon

MODERATOR:Michal KarwackiPartnerSquire Patton Boggs

Krokus PE Exit – Polwax (industrial paraffins producer)

Return on investment

IRR

Exit route The Polish Stock Exchange continues to be a viable alternative exit route

45%

3.5x

Page 6: Ppec exit panel presentation

PARTICIPANTS Preparing & Executing the Perfect Exit

Witold RadwanskiManaging PartnerKrokus Private Equity

Sylwester JanikSenior PartnerMCI Capital

Bill WatsonManaging PartnerValue 4 Capital

Malgorzata Bobrowska-JarzabekCo-Founder & PartnerResource Partners

Tomasz StamirowskiManaging PartnerAvallon

MODERATOR:Michal KarwackiPartnerSquire Patton Boggs

V4C Exit – Home.pl (web hosting provider)

Exit value

Benchmark

Return on investment

Enterprise value = EBITDA 17.3x vs benchmark EBTIDA 11.5x

EUR 155M

3.4x

Page 7: Ppec exit panel presentation

PARTICIPANTS Preparing & Executing the Perfect Exit

Witold RadwanskiManaging PartnerKrokus Private Equity

Sylwester JanikSenior PartnerMCI Capital

Bill WatsonManaging PartnerValue 4 Capital

Malgorzata Bobrowska-JarzabekCo-Founder & PartnerResource Partners

Tomasz StamirowskiManaging PartnerAvallon

MODERATOR:Michal KarwackiPartnerSquire Patton Boggs

PE exits – key success factors

Timing

Preparatory

Alternatives

Advisors

Page 8: Ppec exit panel presentation

PARTICIPANTS Preparing & Executing the Perfect Exit

Witold RadwanskiManaging PartnerKrokus Private Equity

Sylwester JanikSenior PartnerMCI Capital

Bill WatsonManaging PartnerValue 4 Capital

Malgorzata Bobrowska-JarzabekCo-Founder & PartnerResource Partners

Tomasz StamirowskiManaging PartnerAvallon

MODERATOR:Michal KarwackiPartnerSquire Patton Boggs

PE exits – key risk factors

Regulatory

Macroeconomic

Management Board attitiude

Timing


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