1 A long established mid-market player Abnex is present on the - - PowerPoint PPT Presentation

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Strictly Confidential

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A long established mid-market player

• Abénex is present on the French Private Equity and LBO market since 1992 and manages

third-party funds since 1998

• In 2008, the Managing Partners of ABN AMRO Capital France achieved their own LBO
• In 2009, Abénex became the first mid-market player to set up a dedicated Operational Team
• Since 2015, Abénex is accredited by the AMF as real-estate investor (“OPCI”)
• We are currently investing Abénex V, a €425m fund raised from French and international

institutionals and private individuals (with additional capabilities available through co-investment)

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successful public-to- private deals

€1.2bn+

invested

24

professionals

67

transactions

€7.0bn

transaction value

135

build-ups

Paris office Lyon office

2018

Lower mid-caps

Private Equity Fund

• f the year (France)

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Our investment strategy

A proven ability to build together the right transaction, understand the company’s environment and adapt to the seller’s objectives (families, founders, managers, large corporates)

• Companies based out of

France, Switzerland or Benelux

• Leaders in sectors with high

barriers to entry

• Growth potential (in France

and internationally)

• Opportunities for market

consolidation and growth through acquisitions

• Potential for operational

improvement Target companies Investment criteria

• Target Enterprise Value:
• Between €30m and €300m
• Equity investment:
• Between €10m and €100m
• Investment horizon:
• Up to 7 years depending on the target’s project
• Majority and minority holdings

50%

transactions with €50m < EV < €200m

30%

transactions with EV < €50m

20%

transactions with EV > €200m

50% / 50%

majority / minority holdings

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Our track record

Buy-in Operational

• ptimization

Majority Buy-out

CONSUMER GOODS & SERVICES INDUSTRIES & BUILDING MATERIALS HEALTHCARE TECHNOLOGY BtoB SERVICES & DISTRIBUTION

Minority Growth

Cross industry / sector expertise

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An operational mindset

• No interference in day-to-day management
• Involvement in strategic decisions
• Active Board member
• Limited number of investments followed by each

professional A PROFESSIONAL PARTNERSHIP BASED ON TRUST A SYNERGISTIC PLATFORM Development of synergies between portfolio companies:

• Creation of a Purchasing Club
• Centralization of non-strategic purchasing volume
• Negotiation of preferential terms

A DEVELOPMENT PROVIDER

• Strong willingness to develop turnover and

profitability through internal or external growth

• Expertise provided to managers to support their

build-ups

• Industrial and financial awareness, sectorial skills
• Proven support to international expansion

A DEDICATED OPERATIONAL TEAM At the request of Management, support in the

• perational implementation of key value-added projects:
• Development (organic and external)
• Cost optimization
• Process improvement
• Key recruitment / reporting

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Abénex REIM – A dedicated real-estate team

• Since 2015, Abénex acts as a real-estate investor
• Real-estate Investment fund management (“OPCI”)
• Set up of two dedicated “OPCI”: acquisition of two retail portfolios of respectively €55m

(27,000 sqm, 14 assets) and €150m (75,000 sqm, 38 assets)

• 2 dedicated professionals

TRACK RECORD Rely on the strong operational knowledge built over the years through buy-out investments in companies with underlying real-estate assets RATIONALE ASSET, PROPERTY & FUND MANAGER APPROVED BY THE AMF

• Diversified real-estate investments (type and risks)
• Equity investments size of €15m to €80m
• Targeted opportunities:

Offices Located in major French cities with a value creation driver Retail Shopping centers, retail parks, independent sites Logistics assets Mainly located in the French logistics corridor Asset portfolio With value creation potential

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A complementary team of 24 professionals

Note: team ages calculated as of January 2018

INVESTMENT REAL ESTATE SUPPORT Alexis Lebailly, 28 Associate Noémie Thorez, 33 Property Accountant MANAGING PARTNERS Hervé Claquin, 68 Managing Partner Olivier Moatti, 49 Managing Partner Patrice Verrier, 49 Managing Partner OPERATIONAL & MONITORING Emmanuel Herbinet, 45 Partner Strategy, Industry Johann Dupont, 42 Partner in charge of Operational team Consulting, Services Sofiane Touhami, 31 Manager Consulting, Industry Laurent Chevreau, 45 CFO, ESG Officer Antoine Bouvatier, 47 General Counsel Vincent Gouedard, 28 Associate Private Equity Julien Keignart, 35 Director Karim Hoebanx, 31 Associate Matthieu Balaÿ, 30 Manager Jérôme Vandermarcq, 38 Director – Lyon Mathieu Mauhourat, 37 Director Antoine Houël, 40 Director Antoine Schouman, 42 Partner Marie Valide, 56 Office Manager Emilie Lhommeau, 31 Support & Communication Carole Bouron, 40 Chief Accountant Edouard Jeandey, 28 Associate – Lyon Eva Haselwander, 29 Associate Caroline Spriet, 26 Analyst

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Our current portfolio

Growth strategy November 2017 Management consulting Growth strategy November 2017 Banking brokerage for individuals Growth strategy April 2017 Professional conference

• rganisation and medical

publishing Operational improvement April 2017 Funeral products and services Growth strategy October 2014 Ophthalmological medical centers Growth strategy June 2013 Anti-counterfeiting and high- security solutions Growth strategy June 2016 Pharma reagents design and manufacturing Growth strategy April 2017 Real-estate development services Operational improvement June 2006 Formworks and services for the construction Growth strategy April 2018 Private education Specialty in beauty and hairstyling Growth strategy April 2017 Fresh products retail

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Details of our portfolio (1/3)

November 2017 OBO SQUARE is a management consulting company with 650 consultants operating in France, Belgium, Luxemburg and Switzerland. The company is active on 3 segments:

(i)

Digital and marketing

(ii)

Process, operations and risk management (regulations, compliance)

(iii)

Strategy and organization SQUARE’s target customers

• perate in Banking, Insurance, TMT,

Energy, Transport and Services. Management consulting €100m in sales November 2017 OBO PREMISTA, created in February 2016 by the merger of Central Finances and Végalis, is involved in banking brokerage. The company is the French leader in debt consolidation for individuals. PREMSITA relies on two distribution channels: (i) a direct channel with clients identified by bank agencies or sourced via internet and (ii) an indirect channel through franchise networks. PREMISTA also manages a network of 80 branches in real- estate loans brokerage. Banking brokerage for individuals €45m in sales March 2011 / April 2017 OBO PROSOL GESTION is specialized in dairy, fish, fruits and vegetables retail, within GRAND FRAIS stores, which also comprises a butcher and a grocer. Based near Lyon, PROSOL created the GRAND FRAIS concept and acts as its main operator. GRAND FRAIS consists of more than 190 stores in France, Belgium and Italy. Fresh products retail €1,200m in sales April 2018 LMBO GROUPE SILVYA TERRADE is the largest network of beauty and hairstyling schools in France, preparing students for a full range

• f qualifications in Beauty,

Cosmetics, Perfumery and Hairstyling. More than 4,800 students are enrolled each year in its 37 colleges, in every region of France and Switzerland. GROUPE SILVYA TERRADE manages a broad network of more than 3,000 professional partners - including brands, institutes and salons - and draws on the skills of 500 educators Private education Specialty in beauty and hairstyling €25m in sales

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Details of our portfolio (2/3)

April 2017 LMBO Founded in 1887, HYGECO is a major international B-to-B distributor and services provider on the funeral market. Benefiting from a broad range of funeral products and post-mortem equipment, the group addresses funeral homes, mortuaries, hospitals and post-mortem medical laboratories in France, Europe and the Middle-East. HYGECO is also the leading French player in embalming care services dedicated to funeral homes. HYGECO has 340 employees. Funeral products and services €35m in sales April 2017 LMBO LP PROMOTION is a residential real-estate developer, leader in the regions of Toulouse and Bordeaux (with over 1 000 lots marketed in 2016). The company primarily addresses buy-to-let investors, owner-

• ccupiers and social sales in bulk.

Home units are distributed through a multi-channel approach including external sales (~20 national/regional selling networks and 500 additional independent CGPs) and an in house teams addressing local customers. LP PROMOTION is a family Group created in 1996. It employs 100 people. Real-estate development services €185m in sales June 2016 LMBO CISBIO designs and manufactures reagents for drug discovery (Life Science) and for in-vitro diagnosis (IVD). Reagents are used during all phases

• f R&D by biopharma companies in
• rder to identify and optimize drug

candidates. CISBIO employs 200 collaborators, has its head office in France and 3 subsidiaries in the US, China and Japan. Pharma reagents design and manufacturing €40m in sales April 2017 OBO EUROPA GROUP is a Professional Conference Organizer (PCO) focused on the medical segment. EUROPA GROUP organizes c. 50 congresses p.a. and offers a large panel of related services incl. hotel booking, publishing and digital services. Based in Toulouse, EUROPA GROUP has offices in Paris Singapore, Johannesburg and Rotterdam and gathers 130 people. In June 2017, EUROPA GROUP acquired Phili@, the French leader in specialized medical publishing. Professional conference

• rganisation and medical publishing

€95m in sales

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Details of our portfolio (3/3)

June 2013 P2P / LMBO SURYS was founded in 1984 and listed on the Paris Stock Exchange in 1998. The group is a worldwide leading supplier of visual and digital security solutions mainly dedicated to governments, fighting against fraud of documents and counterfeited goods. SURYS employs more than 300 people and has several production and commercial subsidiaries in France, Poland and the United States. Anti-counterfeiting and high- security solutions €80m in sales June 2006 LMBO OUTINORD is the worldwide leader in steel formworks for the building industry. OUTINORD is the historical leader in France. It is active in the US, Latin America, Middle East and Asia, and also in Western European countries. Formworks and services for the construction €30m in sales October 2014 Development Thanks to its state-of-the-art network, POINT VISION is able to address the lack of ophthalmology healthcare in France. The concept relies on the delegation

• f part of the ophthalmologists

tasks to paramedical practitioners, combined with the most recent instrumentation. Incepted in 2011, POINT VISION has 25 centers with 300 employees and c. 1 million patients. Ophthalmological medical centers €50m in sales

12 ABÉNEX

Standard: +33 1 53 93 69 00 Fax: +33 1 53 93 69 25 Direct : +33 1 53 93 + Ext. PARIS: 9, Avenue Matignon – 75008 LYON: 63, Rue de la République – 69002 Hervé Claquin

• Ext. – 69 10

Patrice Verrier

• Ext. – 69 16

Olivier Moatti

• Ext. – 69 30

Antoine Schouman

• Ext. – 69 14

Antoine Bouvatier

• Ext. – 69 17

Emmanuel Herbinet

• Ext. – 69 15

Johann Dupont

• Ext. – 69 04

Mathieu Mauhourat

• Ext. – 69 11

Antoine Houël

• Ext. – 69 18

Laurent Chevreau

• Ext. – 69 22

Julien Keignart

• Ext. – 69 28

Jérôme Vandermarcq +33 4 81 65 92 59 Matthieu Balaÿ

• Ext. – 69 08

Sofiane Touhami

• Ext. – 69 39

Vincent Gouédard

• Ext. – 69 06

Karim Hoebanx

• Ext. – 69 24

Alexis Lebailly

• Ext. – 69 02

Eva Haselwander

• Ext. – 69 19

Carole Bouron

• Ext. – 69 05

Caroline Spriet

• Ext. – 69 03

Noémie Thorez

• Ext. – 69 21

Emilie Lhommeau

• Ext. – 69 09