Presentation - Leitmotiv Private Equity

PRIVATE EQUITY
LONG-TERM CAPITAL
AND DEVELOPMENT SUPPORT
IN ASIA
www.leitmotiv.hk
303, St. George’s Building
2 Ice House Street
Central, Hong Kong
PRIVATE EQUITY
A FAMILY-OFFICE FOUNDED BY
THREE ENTREPRENEURS
YAN AND GUY D’AURIOL
FRANCOIS TARDAN
Prior to Leitmotiv, they were both executive-directors of
listed global supply chain manager Li & Fung, where
they created and led their cosmetic division LF Beauty.
They had founded CGroup in 1985 – which they grew
over 20 years to become the number one sourcing
company globally servicing the cosmetic industry.
Prior to Leitmotiv, Francois Tardan was Executive Vice President
and Chief Financial Officer of Bureau Veritas, the world’s leading
inspection, testing and verification company. From 1998 to 2011,
Francois was notably in charge of leading the external growth
strategy of the group, with the acquisitions and integrations of
100+ companies, of which a significant part in Asia Pacific. His
management experience also includes the IPO of the group in
2007.
Previously, Yan d’Auriol established L’Oreal in Hong
Kong and supervised the group’s first joint-venture in
China. He remained as General Manager of L’Oreal
Hong Kong until 1985.
Guy d’Auriol had started his career in auditing, working
for a French subsidiary of Deloitte.
Prior to Bureau Veritas, Francois was President and CEO of
Fondasol, a leading European geotechnical engineering firm.
Francois holds an MBA from HEC Paris and graduated from ENA.
THE COMBINED EXPERIENCE OF THE FOUNDERS REPRESENTS OVER 90 YEARS OF SUCCESSFULLY CREATING
AND MANAGING GLOBAL BUSINESSES WITH A STRONG ASIA / CHINA FOCUS
PRIVATE EQUITY
AND SUPPORTED BY TWO
PRIVATE EQUITY PROFESSIONALS
EDWARD LEE
ARNAUD TARDAN
Edward cumulates over 18 years of experience in private equity.
Arnaud cumulates over 7 years of experience in private equity.
Prior to joining Leitmotiv, Edward was an investment director
with Citigroup Venture Capital International where he actively
participated in numerous investments across Asia.
Prior to joining Leitmotiv, Arnaud was an investment professional
in the Midcap buyout team of Ardian (ex-AXA Private Equity),
investing in European companies and actively supporting them in
their global expansion, especially in Asia and in the US.
His earlier career was with KPMG Hong Kong and Deloitte
Singapore performing IT and financial audits.
Edward is a CFA charterholder and a member of the Hong Kong
Institute of Certified Public Accountants.
Edward graduated from the National University of Singapore.
Prior to Ardian, Arnaud was an associate at Montefiore
Investment, a Paris-based LBO fund specialized in the retail
and services industries.
Arnaud graduated from EM Lyon Business School.
PRIVATE EQUITY
OUR INVESTMENT APPROACH
OUR INVESTMENTS TO DATE
WE PARTNER with visionary entrepreneurs who seek capital and
human support to accelerate their international development, in Asia
and beyond.
2011
WE INVEST in fast-growing companies with sales ranging from $5 to
$50m and positive cash flows.
WE FOCUS on projects that can benefit from our expertise in :
2012
− Internationalisation (Asia to Europe, Europe to Asia)
AsiaInspection
Quality control, lab testing and certification
8 Securities
Online investing platform for individuals
TIC
Fintech
− External growth
− Supply chain optimisation
2014
− Organisational improvement
OUR SHAREHOLDING HORIZON is flexible and follows the specific
needs of each investment project.
2015
Native Union
Premium brand for tech accessories
Elan
Wines & spirits in emerging markets
Consumer
Brands
Food &
Beverage
PRIVATE EQUITY
BASED IN HONG-KONG, WE
ACTIVELY SUPPORT DEVELOPMENT
PROJECTS IN ASIA AND BEYOND
6 key operation
centers
2 key operation
centers
3 key operation
centers
9 key operation
centers
Hong-Kong
Ho Chi Minh
Chengdu, Hangzhou, Shenzhen
Hong-Kong
Tokyo
Hong-Kong
Los Angeles
Durban
Guangzhou
Bordeaux
Astana, Almati
St Petersburg, Moscow
Beijing, Chengdu, Shanghai
Seoul
PRIVATE EQUITY
ASIA INSPECTION
www.asiainspection.com
COMPANY DESCRIPTION
SALES DEVELOPMENT • BASE 100
Headquartered in Hong Kong, AI provides quality control
(product inspection and factory audits) and lab testing
services to customers from more than 100 countries
worldwide.
In Dec-2011, AI launched AsiaFoodInspection, a food
inspection agency providing safety and quality control
services in Asia for the food industry.
The company’s strong reputation in delivering quality and
cost-effective solutions rests on its strong IT backbone
(integrating online booking to report delivery), a team of
experienced and reliable inspectors and strong operational
support.
168
198
125
100
2013
2014
2015
2016b
SALES PER GEOGRAPHY
LEITMOTIV INVESTMENT
Investment year : 2011
Operation type: owner buy-out
Investment Thesis :
− Disruptive technology-enabled customer acquisition
model
− Sustained accelerated organic growth
− Strong and stable management team with proven
external growth capabilities
AFRICA &
MIDDLEEAST
15%
ASIA
PACIFIC
21%
NORTH
AMERICA
40%
EUROPE
24%
PRIVATE EQUITY
8 SECURITIES
www.8securities.com
COMPANY DESCRIPTION
8 Securities is a next generation mobile trading &
investing service in Asia. With licensed offices in Hong
Kong and Tokyo, it empowers over 55,000 investors with
online tools such as social trading and automated global
investment portfolios (first mover Robo-Advisor in Asia).
Launched in April 2012, 8 Securities rapidly grew with the
acquisition and integration of a sizeable Japanese online
broker in 2013 and today holds over USD800 million in
customers assets.
LEITMOTIV INVESTMENT
Investment year : 2012
Operation : start-up & build-up financing
Investment Thesis :
− Innovation through asset light technology
− First mover disruptive advantage in Asia
− Seasoned management team
− Hyper growth potential from customer acquisition
funnel
PRIVATE EQUITY
NATIVE UNION
www.nativeunion.com
COMPANY DESCRIPTION
SALES DEVELOPMENT • BASE 100
Native Union is an award-winning design brand bringing
aspirational products to the booming mobile-accessories
market.
Based in Hong Kong and selling its unique products online
and in the finest stores in 60 countries, it is rapidly
consolidating its position as a strategic brand in Apple stores.
308
198
LEITMOTIV INVESTMENT
100
125
03/2014
03/2015
Investment year : 2014
03/2016e
03/2017b
Operation type: capital development
Investment Thesis :
− A focused brand approach with proven creativity
− Unique lifestyle positioning in today’s fastest growing
consumer product category
− Strong online sales traction
SALES PER GEOGRAPHY
ASIA
PACIFIC
14%
OTHER
6%
− Dynamic management team
EUROPE
33%
NORTH
AMERICA
47%
PRIVATE EQUITY
ELAN WINE & SPIRITS
SALES DEVELOPMENT • BASE 100*
COMPANY DESCRIPTION
Elan is a distributor of premium wine and spirits brands in
emerging markets.
Originally focused on the Russian and Kazakh markets, Elan
progressively expanded its network in Asia. Elan is today an
integrated network of fine wine and spirits distribution
companies, with presence in four countries (Russia,
Kazakhstan, China, South Korea), serving premium sales
channels (on-trade and selected retail).
LEITMOTIV INVESTMENT
149
100
110
2014
2015
* At constant exchange rates
Investment year : 2015
Operation type: corporate spin-off
SALES PER GEOGRAPHY
Investment Thesis :
− Established positions in Russia and Kazakhstan with
SOUTH
KOREA 9%
KAZAKHSTAN 42%
room for mix optimization
− Successful
development
in
China
with
roll-over
potential in additional cities
− Ramp-up of South Korean operations; new Asian
countries understudy
− Experienced management team with proven record in
geographical expansion
2016b
RUSSIA
24%
CHINA
25%
PRIVATE EQUITY
OUR CEO PARTNERS ARE OUR BEST
REFERENCES
“In Leitmotiv we have found an entrepreneurial partner who
not only understands our business but also helps us accelerate
our development, thanks to its experienced management team
and its build-up expertise.”
Sébastien Breteau
CEO & Founder of AsiaInspection
“With the support of Leitmotiv, we are reinforcing
our product innovation capabilities,
while reengineering our processes and improving
our supply chain operations.”
Igor Duc & John Brunner
Founders of Native Union
PRIVATE EQUITY
OUR CEO PARTNERS ARE OUR BEST
REFERENCES
“The equity and operational support of Leitmotiv have enabled
us to quickly seize a transformational acquisition in Japan,
while accelerating our ongoing strategy of continued
innovation and customer service improvement.”
Mathias Helleu & Mikaal Abdulla
Founders of 8 Securities
“We are very happy to welcome Leitmotiv as our
new majority shareholder. We will rely on their
intimate knowledge of Asian markets to build
overtime a leading position in China and its
neighboring countries. ”
Thomas Burgelin & Mathieu Bonneville
Managing Directors of Elan