PASSION  FOR  ENTREPRENEURIAL  COMPANIES  

having  the  desire  to  challenge  themselves  and  grow.  

E q u i t y t o I n n o v a t e

CONTENT: ü  ExecSumry ü  Values ü  Track Record ü  Strategy / Approach ü  Network /Expertise ü  Portfolio ü  Inv. Partners

E q u i t y 2 I n n o v a t e

A bit about … us

o  ArvenAa  invests  equity  capital  in  small  and  medium  enterprises  (SMEs)  since  2012  (www.arvenAa.com);  

o  part  of  MCP  Group,  founded  in  2006  by  Gian  Maurizio  Argenziano  (www.gianmaurizioargenziano.com);  

 o  focus  on  SMEs  facing  change  (strategy,  operaAon,  ownership….)  to  foster  long  term  

growth;  

o  holdings  in  healtcare,  medical  devices,  mechanical  engeenering;  

o  Network/experAse  result  of  founder’s  25  years  Track  Record  (>  80  managed  cos  /  >  3  bn  invested)  

MCP  Group  delivers   private   office   services   and   strategy&opera8onal   services   (arv&associa8);   it   holds   interests   in  hea l t h ca r e   (www.effeemme . com) ,   med i c a l   d e v i c e s   (www.d i anax . com)   and   mechan i c a l  engineering  (www.nadella.com)  

EXECSUMRY

MANAGEMENT  TEAMS  

 

 OPERATING  ADVISORS  

 

OPERATING  PARTNERS  

OUR  TRACK  RECORD  

OVER  25  YEARS  

OVER  80  PORTFOLIO  COMPANIES  

GLOBAL  ESPERIENCE  /  EU  FOCUS  

MULTI-­‐INDUSTRY/SEGMENT  EXPERTISE  

SUPERIOR  PERFORMANCE  

ASSESSED  BY  E&Y    

…  delivering  value  to  our  companies  

….  our people

Over  30  acAve  Partners    

E q u i t y 2 I n n o v a t e

…  based  in  the  EU  …  each  focused  on    specific  segments  

Passion  for  SMEs   …  with  domain  exper3se  in  specific  segments  

EXECSUMRY

MANAGEMENT  TEAM  

OPERATING  ADVISORS  

 

OPERATING  PARTNERS  

 

CHANGE  (IE.  TECH/DIGITALIZATION)    

NEW  MARKET  OPPORTUNITIES  

PRODUCT  TRANSITION  

OPERATIONAL  EFFICIENCY  

MANAGEMENT  TEAM  BUILDING  

STRATEGIC  REPOSITIONING  

INDUSTRY  CONSOLIDATION  

…  to  enhance  long  term  business  growth.  Focusing  on    business  strategy  and  operaAonal  excellence,  we  exploit  our  network  of  resources  to  support  management  in  building  value  for  customers,  employees,  and  shareholders.      

...our approach

AcAve  across    some  industries  /  segments  

E q u i t y 2 I n n o v a t e

…  with  a  broad    network  of  resources    

…  focused  on    an3cipa3ng  change  

partnership with entrepreneurial management

HEALTH  CARE  

MEDICAL  DEVICES  

MECHANICAL  ENGINEERING  

HARDWARE  /  INDUSTRIAL  

COMMUNICATIONS  

SECURITY  /  SYSTEMS  

LUXURY  /BRANDING  

EXECSUMRY

OVER  80  

PORTFOLIO  COMPANIES  

WITH    

HIGH  FOLLOW-­‐ON  ACQUISITION  

RATIO    

GROWTH  EQUITY  

FAMILY  BUSINESS  SUCCESSION  

BUYING  FROM  FOUNDERS  

UNDERPERFORMING  OPERATIONS    

DIVISIONAL  CARVE  OUT  

EARLY  STAGES  

CORPORATE  DEVELOPMENT  

JV  /  ACQUISITIONS  

GLOBAL  EXPERIENCE  

…  customized  to  each  specific  situaAon  §  a  wide  range  of  transacAon  types  /  business  stages    §  transacAon  range  value  from  €  1million  to  €  200  million  

…  our capital

nearly  €  3  billion  managed  to  date    

E q u i t y 2 I n n o v a t e

...  invested  strategically    over  Ame  

…  with  a  flexible    investment  approach  

over  Euro  3  billion  of  capital  managed  to  date…    

EXECSUMRY

E q u i t y 2 I n n o v a t e

Values  

CONTENT: ü  Executive Summary ü  Values ü  Track Record ü  Strategy / Approach ü  Network / Expertise ü  Portfolio ü  Inv. Partners

NETWORK (Expertise)

STRATEGY & APPROACH

VALUE IN OUR COMPANIES (PORTFOLIO)

INV. PARTNERS PERFORMANCE

TRACK RECORD

E q u i t y 2 I n n o v a t e

Our  Values  

Integrity  Independence  Excellence  (dedica3on  to….)  Accountability  Transparency  Cordiality  

..    .    

 ……….  values  are  frequently  declared  in  markeAng.  How  to  figure  out  Values    are  True  and  Fundamental  ?        Why  are  we  different  ?  

 

Our  Values  are  more  about  ….  consciousness  and  awareness…  

Social  Responsibility    

Being   passive   in   socially   risky  situaAons   equates   to   cooperate/sustain  these  situaAons  (M.L.King).  

We   choose   clear   and   transparent  acAons   in   unclear   situaAons.   We  experienced   defending   moral   causes  knowing   there  were  personal   causes  or  risk  (Case  Studies).    

Long  standing  relaAonships                                          

Sha r i ng   common   Va lues  permits  easiness/deligheulness;  it   helps   avoiding   conflicts   even  in  difficult  situaAons.  

Bu i l d i n g   l o ng   s t a nd i n g  relaAonships  mager  to  us;  We   share   same   Fundamental  Values  with  our  Partner..s  

Preserving  Freedom  

True   Values   prevail   on  hunger   for   money,   thus  someAmes   preserving  individual  freedom.      

Our   Values   preserve   our  Freedom.  

ü Values

E q u i t y 2 I n n o v a t e

NETWORK (Expertise)

STRATEGY & APPROACH

VALUE IN OUR COMPANIES (PORTFOLIO)

INV. PARTNERS PERFORMANCE

TRACK RECORD

ü  ExecSumry ü  Values ü  Track Record ü  Network / Expertise ü  Strategy / Approach ü  Portfolio ü  Inv. Partners

Values  

E q u i t y 2 I n n o v a t e

OVER  25  YEARS  

NEARLY  €  3  BILLION    MANAGED  TO  DATE…    

OVER  80  PORTFOLIO  COMPANIES  

GLOBAL  EXPERIENCE  /EUROPEAN  FOCUS  

MULTI  -­‐  INDUSTRY/SEGMENT  EXPERTISE  

SUPERIOR  PERFORMANCE  (PWC  BENCHMARK)  

E&Y    ASSESSMENT  REPORT    

MULTI-­‐INDUSTRY/SEGMENTS  HEALTH  CARE  MEDICAL  DEVICES  MECHANICAL  ENGINEERING  HARDWARE  /  INDUSTRIAL  COMMUNICATIONS  SECURITY  /  SYSTEMS  LUXURY  /BRANDING  …OTHERS  

ANTICIPATING  CHANGE    

NEW  MARKET  OPPORTUNITIES  PRODUCT  TRANSITION  

OPERATIONAL  EFFICIENCY  

MANAGEMENT  TEAM  BUILDING  

STRATEGIC  REPOSITIONING  

INDUSTRY  CONSOLIDATION  

HIGLY  SCALABLE  DIGITALIZATION  

FLEXIBLE  APPROACH  GROWTH  EQUITY  FAMILY  BUSINESS  SUCCESSION  BUYING  FROM  FOUNDERS  UNDERPERFORMING  OPERATIONS    DIVISIONAL  CARVE  OUT  EARLY  STAGES  CORPORATE  DEVELOPMENT  JV  /  ACQUISITIONS  GLOBAL  EXPERIENCE  

OVER  80  

PORTFOLIO  COMPANIES  

 

PLUS  SEVERAL  FOLLOW-­‐ON  ACQUISITIONS  

A bit about our…..

3  BILLION  

HEALTH  CARE  MEDICAL  DEVICES  INDUSTRIAL    ENGINEERING/PROCESSING  COSMETICS  LOGISTIC  SISTEM  INTEGRATION  /  SOFTWARE  LEISURE  CHEMICAL,  PACKAGINE  MATERIALS  MEDIA  6  TELECOM,  PUBLISHING  FFOD,  FOOD  PROCESSING  TRAVEL,  CLEANING  SERVICES    VENDING  MACHINES  GARDEN  VEHICLES/EQUIPMENT  HARDWARE  /  INDUSTRIAL  COMMUNICATIONS  /COMM.  MNGMT  SECURITY  /  SYSTEMS  LUXURY  /BRANDING  OTHERS  

track record  

track record  

E q u i t y 2 I n n o v a t e

STATEMENT  We  have  analyzed  the  Track  Record  –  All  Private  Equity  Deals  (79  ndr.)  ….  -­‐  as  agachment  B  to  this  report  (“Track  Record”),  on  the  basis  of  the  Methodological  AssumAons  presented  ….  We   confirm   that  all   transacAons   included   in   the  Track  Record  have  been  managed  or  have   fallen  under   the   responsibility/management  of  Gian  Maurizio  Argenziano  as  …….    We  have  analyzed  the  return  achieved  on  30  Track  Record  transacAons  included  in  the  agachment  A  “Analyzed  Track  Record”  to  this  report.  From  the  analysis  performed  we  confirm  the  following:  The   return   on   23   divestments   included   in   the   Track   Record,   for   which   we   were   able   to   complete   the   agreed   analysis  (agachment  A)  resulted  in  an  average  Money  MulAple  Cash-­‐on-­‐Cash  of  3.0X,  equal  to  a  42.5%  non  weighted  average  IRR  and  with  an  average  investment  lenght  of  about  3.4  years  (…  with  a  maximum  of  6.5  years)  ….…  We  have  receied  confirmaAon  about  the  return  achieved  on  a  furter  7  transacAons  in  Annex  A…..      Source:  E&Y.  Analysis  of  the  Track  record  of  Gian  Maurizio  Argenziano,  12  January  2012              

see  enAre  EY  report,  list  of  companies  and  industries  on  www.arvenAa.com  

track record  

E q u i t y 2 I n n o v a t e

OVER  25  YEARS  

NEARLY  EURO  3  BN  MANAGED  

OVER  80  PORTFOLIO  COMPANIES  

SUPERIOR  PERFORMANCE  (PWC  BCMRK)  

GLOBAL,  EUROPEAN      

INDUSTRY/SEGMENT  DIVERSIFIED  

ASSESSED  BY  E&Y  

 TRACK RECORD

Since  1989,  including  founder’S  TR  

7  porlolios  for  6  global/na8onal  Funds/InvCos  

EV  range  30  to  100  Mn  (Min/Max  .5  Mn  to  1  Bn)  

all  stages  included  (growth  capital  and  buy-­‐outs  mainly)  

E&Y  Performance  Report:  20  years  ending  2011  

Benchmark:  PWC  PE  perf.  report  20  years  ending  2011  

HEALTH  CARE  

MEDICAL  DEVICES  

INDUSTRIAL    ENGINEERING/PROCESSING  

COSMETICS  

LOGISTIC  

SISTEM  INTEGRATION  /  SOFTWARE  

LEISURE  

CHEMICAL,  PACKAGINE  MATERIALS  

MEDIA  6  TELECOM,  PUBLISHING  

FOOD,  FOOD  PROCESSING  

TRAVEL,  CLEANING  SERVICES    

VENDING  MACHINES  

GARDEN  VEHICLES/EQUIPMENT  

HARDWARE  /  INDUSTRIAL  

COMMUNICATIONS  /COMM.  MNGMT  

SECURITY  /  SYSTEMS  

LUXURY  /BRANDING  

OTHERS  

track record  

E q u i t y 2 I n n o v a t e

CONTENT: ü  ExecSumry ü  Values ü  Track Record ü  Network /Expertise ü  Strategy / Approach ü  Portfolio ü  Inv. Partners

Values  

Strategy  /  Approach  

NETWORK (Expertise)

STRATEGY & APPROACH

VALUE IN OUR COMPANIES (PORTFOLIO)

INV. PARTNERS PERFORMANCE

TRACK RECORD

E q u i t y 2 I n n o v a t e

Our  Partners  are  oten  investors  in  our  companies;  we  line  up  their  interest  with  ours  as  investors,  also  by  means  of  appropriate,  performance-­‐based  remuneraAon  and  equity  parAcipaAon.    

…   the   result   of   25   years   track  record   of   inves3ng   alongside  management   teams   and   then  working  with  them  as  partners.  

Our Partners Network…

ENHANCING   SMES’s   VALUE   IN   THE  LONG  TERM  HORIZON    

F O S T E R I N G   G R O W T H   A N D  OPERATIONAL  EXCELLENCE  

SETTING   THE   MOST   APPROPRIATE  COURSES   OF   ACT ION   IN   OUR  COMPANIES    

S E A R C H I N G   F O R   T H E   R I G H T  BUSINESSES  THAT  WILL  BENEFIT  FROM  THESE  OPPORTUNITIES  

UNDERSTANDING   CHANGE   AND   THE  RESULTING  OPPORTUNITIES   ANTICIPATING  CHANGE    

NEW  MARKET  OPPORTUNITIES  

PRODUCT  TRANSITION  

OPERATIONAL  EXCELLENCE  

STRATEGIC  REPOSITIONING  

MANAGEMENT  TEAM  BUILDING  

INDUSTRY  CONSOLIDATION  

HIGHLY  SCALABLE  DIGITALIZATION  

Network  /  Exper8se  

E q u i t y 2 I n n o v a t e

,     …   the   result   of   25   years   track   record  of   invesAng   alongside   management  teams   and   then   working   with   them  as  partners.  

Our  Partnrs  are  oten   investors   in  our  companies;  we   line  up  their   interest  with  ours   as   investors,   also   by   means   of   appropriate,   performance-­‐based  remuneraAon  and  equity  parAcipaAon.    

MANAGEMENT  TEAM  

OPERATING  ADVISORS  

 

OPERATING  PARTNERS  

 

Our   partners   hold   the   management   experience   relevant   to   the   companies   in  which  we  invest.  o  Management   Team   members   (Managing   Partners,   MPs)   are   the   top  

execuAves  (c.e.o.,  c.o.o.,  c.m.o.  and  c.f.o.)  responsible  of  a  poreolio  company  or  experienced  managers  in  charge  of  a  company  specific  operaAon.    

o  OperaAng   Partners   (OPs)   are   former   MPs   in   companies   in   which   we   held  interest,  though  not  necessarily.  OP  supports  MPs  by  conAbuAng  network  and  experience   in   a   specific   industry/segment   or   by   assuming   temporary   direct  management   responsibiliAes   as   providing   technical   experAse/support   in  operaAons  where  change  must  happen  in  given  Ameframe.  

o  OperaAng   Advisors   (OA)   are   professionals   with   deep   experAse   in   specific  areas  which  have  proven  to  be  effecAve  in  backing  MPs  in  our  companies    

Our Partners Network …

Network  /  Exper8se  

E q u i t y 2 I n n o v a t e

TARGET    SMES  WITH  STRONG  ENTREPRENEURIAL        FLAVOR  FOR  GROWTH  

TGT  STAGE    AVAILING  OF  CHANGE  OPPORTUNITIES    

INDUSTRY  CERTAIN  INDUSTRIES/SEGMENTS  

INVESTMENT  PRIVATE  (PE&VC)  AND  PUBLIC  (PIPE)  EQUITY;        SMES  PORTFOLIO  MANAGEMENT  (PMS)  

INV.  STAGE  MOST        

INDUSTRIES/SEGMENTS  OF  INTEREST  HEALTH  CARE  MEDICAL  DEVICES  MECHANICAL  ENGINEERING  HARDWARE  /  INDUSTRIAL  COMMUNICATION  MANAGEMENT  SECURITY  /  SYSTEMS  LUXURY  /BRANDING  …OTHERS  

ANTICIPATING  CHANGE    NEW  MARKET  OPPORTUNITIES  PRODUCT  TRANSITION  

OPERATIONAL  EXCELLENCE  

MANAGEMENT  TEAM  BUILDING  

STRATEGIC  REPOSITIONING  

INDUSTRY  CONSOLIDATION  

HIGLY  SCALABLE  DIGITALIZATION  

TARGET    CRITERIA  

EV  VALUE  .5  TO  200  EURO  MN  

TUTNOVER  10  TO  300  EURO  MN  

VALE  CHAIN:  MANUFACTURING  TO  RETALING  

FORESEABLE  BUSINESS  MODEL  

GLOBAL  EXPERIENCE  

INVESTMENT  STAGES  GROWTH  EQUITY  FAMILY  BUSINESS  SUCCESSION  BUYING  FROM  FOUNDERS  UNDERPERFORMING  OPERATIONS    DIVISIONAL  CARVE  OUT  CORPORATE  DEVELOPMENT  EARLY  STAGES  TURNAROUND  JV  /  ACQUISITIONS  

Flexibility;   our   (network)   experience   gives   us   access   to  opportuniAes   across   a   range   of   business   stages   and   industries   with  customized  investments.  

Our Strategy

strategy  

E q u i t y 2 I n n o v a t e

Partnerships  with  

entrepreneurs  

Backing  management  

Ac3ng  as  General  Partner  

We   have   a   history   of   success   in   partnering   with   entrepreneurial   management  teams.  Our   partners   hold   the   experience   relevant   to   the   companies   in  which  we  invest  (though  not  necessarily  currently  managing  them)  

our   broad   network   of   relevant   contacts   includes     professionals   who   served   as  managers   and   directors   in   our   poreolio   companies.   It   helps   to   improve  performance  in  most  areas,  parAcularly  those  where  SMEs  are  weaker.  

ownership   stability   magers   as   management   independence   does.   We   ensure  clear   guidance   in   ownership  and  we  always     line  up  management   interests  with  those  of  investors.    

our approach

Approach  

E q u i t y 2 I n n o v a t e

Flexibility.  we  customize  our  approach  by  adopAng  the  most  appropriate  soluAon  to  each  specific  sutuaAon  across  a  range  of  business  stages:      

Professional   Decision   making   based   on   relevant   infos   and   DDs.   No  complex  responsibility  limitaAon  formal  requirements  ensure  rapidity.  

….to  ensure  rapid  and  effecAve  results.   In  certain  cases,  as  turnarounds,  we  adopt  a  temporary  “short  term  -­‐  objecAve  driven”  strategy  to  improve  cash  generaAon  as  a  first  stage  preluding  a  “value”  strategy.    

Flexible  Strategy  

Professional  Decision  making  

Efficient  execu3on  process  …  

GROWTH  EQUITY  

FAMILY  BUSINESS  SUCCESSION  

BUYING  FROM  FOUNDERS  

UNDERPERFORMING  OPERATIONS    

DIVISIONAL  CARVE  OUT  

EARLY  STAGES  

CORPORATE  DEVELOPMENT  

TURNAROUND  

JV  /  ACQUISITIONS  

our approach

Approach  

E q u i t y 2 I n n o v a t e        www.arven8a.com/our-­‐porlolio-­‐companies/  

Arven8a    Medical  Devices  

Arven8a  Mechanical  Engineering  

Arven8a          Health  Care  

Arven8a                PIPE   CONTENT:

ü  ExecSumry ü  Values ü  Track Record ü  Strategy / Approach ü  Network /Expertise ü  Portfolio ü  Inv. Partners

PorAolio  

E q u i t y 2 I n n o v a t e

Business  Founders  (and/or  their  families)  facing  new  business  stages  and  having  decided  partnering  up  with  us  to  fullfill  the  potenAal  they  have  created.      

Entrepreneurial  Partners,  former  owners  of  businesses  we  have  bought/shared    in  the  past,  our  OperaAng  Parners  and  our  Managing  Partners.    

LPs,   private   offices,   high   networth   individuals   and   insAtuAons   which   have   parAcipated   in     previous   ArvenAa  investments  and  have  demostrated  to  share  our  same  long  horizon  investment  philosophy.  

Tier  One  Ins3tu3onal  Cluster”  (TOIC),  5  insAtuAons  already  investors  in  our  companies,  having    demonstrated  to  be  reliable  and  to  share  our  long  term  horizon.    

Ins3tu3onal  Investors,  customers  of  MCP  Group  having  Poreolio  Management  Services  agreements  in  place.  

Investors   relevant   to   the   specific   company,   sharing   our   Values   and     having   the   potenAal   to   add   value   to   the  acquired  business.  When  our  co-­‐investors  hold  potenAal  to  support  to  our  companies,  we  always  ensure  lining  up  of  interests  is  in  place.    

When  we  share  ownership,  our  most  frequent  investment  partners  are:  

Our  EVCA-­‐code  compliant  governance  allows  priority  ordered  co-­‐investment  rights  to  our  LPs,  preven8ng    poten8al  conflict  of  interest.  our  co-­‐investors  hold  competence/poten8al  to  contribute  specific  know-­‐how  and  support  to  our  companies..    

Our… Investors

Arven3a  invests  its  own  capital  in  partnerships  with  entrepreneurs  

Inv.  Partners  

M C P G r o u p

private  office  services  MidCapitalPartners

A s s o c i a t i

OUR  Group  …      Partners&Customers  

SMEs  porlolio  management  and  strategy&opera8onal  services  

Overseas  Industries  SpA