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Service Overview.

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Presentation on theme: "Service Overview."— Presentation transcript:

1 Service Overview

2 Company Summary Our Mission
Notch Partners serves the buyout community exclusively. We enhance investment returns by cultivating client relationships with CEO-level executives whose experience and contacts drive profitable deal activity. Value Proposition Management talent for client deals in-process which lack appropriate leadership Executive expertise for idea vetting, due diligence consulting, boards of directors/advisors, etc. Talent pipeline for existing and future portfolio companies Proprietary deal flow

3 Our Business Through seminars, workshops and proprietary
worktools, Notch identifies and works with “Backable” CEO’s to develop viable deal situations. Deals may be proprietary or part of auction processes. Leveraging our experience with over a hundred PE firms, Notch assists its clients to develop and execute formalized executive programs which are suited to each firm’s unique needs. Notch conducts executive searches for CEO’s, CFO’s and other members of top level management. Typically Notch searches are discreet and completed in far less time than those done by traditional recruiters. Typically within a week’s time, Notch identifies, screens and introduces potential CEO’s, BOD members or consultants who provide valuable insights and angles to Clients on new deal situations.

4 Our Partners Andrew Thompson Mei-Mei Tuan
Managing Director, Primedia Ventures Consultant: McKinsey & Co. Executive/board of several private equity-backed companies HBS, Dartmouth Mei-Mei Tuan Founding Partner, M2 Associates, strategic consultancy for private equity firms and portfolio companies Investment banker: Goldman Sachs, Bank of America COO/CFO of Sierra Club Foundation and S.F. Food Bank HBS, Wellesley

5 Bringing Sponsors and Targets Together
Sponsors need . . . Industry knowledge Backable CEO & team Solid go-forward plan An edge in bidding process Financial Sponsor Target Partners Notch

6 How Notch Clients Benefit
Ability to pursue deals which: Are outside of client’s industry comfort zone have weak incumbent management have planned management turnover Increased due diligence manpower in the form of inexpensive / free input from operating experts Reality-check for analysis and forward projections Proprietary deal flow and/or proprietary angles on auction deals Resource for evaluating deal hypotheses before devoting resources to deal sourcing / evaluation

7 Executive Qualities We Seek
Client-initiated: Deal-capable CEO with “perfect fit” background Industry expert Willing to vet thesis Time/capacity to help source deals Potential CEO Capable of developing well-informed view of the deal after review of OM Available to discuss deal with investor Open-minded w/regard to mgt/board role or consulting Notch-initiated Deal-committed CEO with proprietary deal Appropriate operating background CEO not in “job seeking” mode Thesis is a good match to exec background Proven willingness to approach targets Same Proprietary Deal Investment Thesis Auction

8 Cultivating Executive Relationships
Common Pitfalls: Misdirected activity Poor follow through Misaligned expectations Inadequate understanding of PE firms Establish inv. thesis and identify possible targets Initial contact with private equity firm(s) Follow on meeting(s) usually with other partners Determine relationship parameters Determine potential mutual interest areas Pursue deal opportunities in partnership Notch Involvement with Executives: Meeting logistics Initiate contact Help refine investment thesis Maintain feedback loop Intermediate in negotiations Assist on presentations Provide guidance on interaction Align expectations

9 Notch Partners Core Competencies
Rapid understanding of industries and deal situations Very targeted searches Identification of true “Deal Executives” Development of Deal Executives and compelling deal targets Cultivation of deep executive relationships Execution within tight deal timeframes Bringing knowledge of private equity industry to the executive cultivation process

10 Notch vs. Traditional Search Firms
Work with Job Seekers Several month process Focused on job openings Work on a transactional basis Large retainers Notch Partners Work with Deal Executives Initial exec meetings in ~1 week Focused on enabling deals Work on a relationship basis Success-fee orientation

11 Notch Executives Typical Profile
20-30 years experience in focus industry, with 5-15 years in “chief executive” role Significant operational track record, large P&L M&A, post-merger integration, turnaround and/or PE experience Active in deal flow, with one or more current deals, sometimes proprietary Able to pull together key executives to lead a company post-deal if needed

12 What We Look for in a Client
A mix of opportunism and hypothesis-based deal-sourcing An interest in management/board enhancement as a possible differentiating capability vis-à-vis other investors Willingness to collaborate with a committed Deal Executive to refine concepts and explore targets

13 Starting a Productive Relationship with Notch
Determine initial set of 2-4 hypotheses or industry areas upon which to collaborate, plus opportunistic deal situations as they arise Incorporate Notch into updates on incoming client deal flow Designate a senior team member as primary interface Set aside 30+ minutes for weekly update meeting/call with Notch Deal flow updates – from Notch and from Client Status update on any executive relationships in progress Any evolution in industry focus, investment hypotheses

14 Building the Notch Network
Speaking engagements to executive groups Word of mouth referrals from Notch Network and other executives Referrals from our clients Networking events Ad placements in magazines and trade publications Reaching out on a one-to-one basis Industry databases, and directories

15 Deal Executive Defined
Visionary CEO-level leader Seeking to complete an acquisition and lead the resulting company Desires partnership with a financial sponsor Has a clear sense of how to create value in the sector he or she is targeting Deep experience in industry of target company(ies) Proactively seeking to identify deal opportunities which he/she can bring to the financial sponsor

16 Client Feedback - AEA Investors - Reliant Equity Investors
Working closely with Notch Partners has added a new dimension to our business. We depend on Notch to get an early leg up in deal situations and introduce us to executives who can add value during the pre-and post-acquisition phase. Their executives have helped us get smart on industries, companies, and specific situations, and as a result, we have become more efficient and effective on a wider variety of transactions. - AEA Investors Notch provides a competitive differentiator that few firms have…their timeliness and flexibility are outstanding. Working with Notch has fundamentally changed our approach to the deal business. - Reliant Equity Investors

17 More Client Feedback Notch consistently introduces us to quality, deal-savvy executives to pursue new deal opportunities or to assist in diligencing new industries. They have a feel for which executives are “backable” and provide real value to us in screening qualified individuals. - Cortec Group Their partners’ unique backgrounds equip them to quickly identify and evaluate entrepreneurial executives who can lead a deal to closing. - Harvest Partners

18 Executive Perspectives
“Notch uses their unique insight to harmonize the objectives of private equity with those of executives pursuing and investment thesis, to the benefit of all the parties. I am not aware of another firm that has had the vision to take on this important role.” - Robert Isen, CEO Allied Extruders, Inc. “I have not experienced anything like working with Notch Partners in my entire career. They have a remarkable talent for putting together personality, chemistry, skills, interests, and opportunity to make an extraordinary match; they are not just filling a position. I go out of my way to introduce people to Notch Partners.” - Adam Klein Executive Vice President EMI Music

19 Executive Perspectives
“From conceptualizing an investment thesis and developing value creation strategies to identifying investors raising financing, Notch works closely with executives every step of the way. In today’s tough environment, partnering with Notch significantly increases the probability for an executive to get a deal done with private equity.” - Doug Atkin President and CEO, Majestic Research “Notch offers distinctive value in 3 ways: An unmatched understanding of entrepreneurial operating executives Exceptional insight and competence to define and structure a complex career move A dazzling array of contacts across sectors. They know who to call and who you should call.” - C.J. Kettler CEO Lime Media

20 Active Industry Sectors
Consumer Products Business Services / Outsourcing Media Industrial Manufacturing Financial Services Health Care Retail Specialty Chemical . . . and others

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