2018+1 612 371 6542 [email protected] Healthcare Michael Wiggins, Group Head Pharma Distribution...
Transcript of 2018+1 612 371 6542 [email protected] Healthcare Michael Wiggins, Group Head Pharma Distribution...
2018YEAR IN REVIEWMiddle Market Advisory Update
“We believe good advice starts with listening. We focus on delivering solutions that are
tailored to our clients’ needs, by bringing deep sector expertise, global relationships, and
senior-level attention to every assignment.”
ROBERT D. FROSTCEO, Lazard Middle Market
Dear Friends,
As we look back on 2018, we express our appreciation to our clients for the opportunity to be your trusted advisor. We are proud of what we have accomplished together and treasure these relationships.
A STRONG YEARLazard’s middle market advisory practice experienced a strong year in 2018. The firm completed 180 middle market¹ transactions worldwide, of which 81 had at least one counter-party in North America. These global middle market transactions had an aggregate value of more than $31 billion in disclosed value. In 2018, Lazard ranked #3 based on number of middle market deals, and is consistently ranked one of the top five financial advisors.
TRANSACTION MIXMergers and acquisitions comprised 149 of our middle market transactions, including 88 sell-side, 53 buy-side, and 8 strategic advisory assignments. Corporate finance advisory completed 17 transactions, representing a growing segment of our middle market practice. Our restructuring team was involved in 14 assignments.
CROSS-BORDER POWERHOUSELazard’s global presence is unmatched. With 43 offices in 27 countries, we access corporate decision makers directly through Lazard’s global team. In 2018, 33 percent of our global sell-side transactions were cross-border.
NEW MANAGING DIRECTORS• Matt Dalton was promoted to Managing Director, focusing on building products and metals
within our Industrials group in Minneapolis.• Ryan Hays was promoted to Managing Director, focusing on e-commerce, specialty retail, and
direct marketing within our Consumer, Food & Retail group in New York.• Jason Hutchinson joined the firm as a Managing Director, focusing on software infrastructure,
data networking, semiconductors, and internet/social media within our Telecom, Media & Technology group in San Francisco.
• Dimitar Karaivanov joined the firm as a Managing Director, focusing on specialty finance, depositories, trust and custody, and payments within our Financial Institutions group.
• David Parker joined the firm as a Managing Director, focusing on data infrastructure, cable, and diversified telecom within our Telecom, Media & Technology group.
• Adam Wieden was promoted to Managing Director, focusing on food and agriculture within our Consumer, Food & Retail group.
ADDITIONAL PROMOTIONSWe are pleased to announce the following promotions, reflecting our commitment to developing exceptional professionals:• Kosta Bourlas, Director - Business Services & Education (Chicago)• Bill Scheuerer, Director - Corporate Finance Advisory (New York)• Jon Tenan, Director - Consumer, Food & Retail (New York)• Sam Alexander, Vice President - Consumer, Food & Retail (New York)• Scott Ames, Vice President - Financial Sponsors (Minneapolis)• George Fisher, Vice President - Industrials (Houston)• Ken Kantowitz, Vice President - Corporate Finance Advisory (New York)• Joe Stormont, Vice President - Industrials (Minneapolis)• Parth Talati, Vice President - Healthcare (New York)
Best wishes to you for a successful 2019. We look forward to working with you this year.
Sincerely,
Mergers &Acquisitions
Corporate Finance
Restructuring
83%
9% 8%
$31 billiondisclosed value globally
Lazard completed
transactions in the middle market¹
Mergers & Acquisitions is our core focus.
Corporate Finance represents a growing
segment of our practice. Our Restructuringgroup brings world-
leading expertise to themiddle market.
StrategicFinancial 54%46%
A higher percentage of our sell-side clients are sold to strategic buyers
Lazard’s middle market advisory practice provides
customized advice on mergers and acquisitions,
debt and equity recapitalizations, and
financial restructurings to mid-sized companies across a broad range of
industries.
180Worldwide
81North American
2018 Highlights
0 5 10 15 20 25 30 35
33%23%
13%10%9%
6%6%
Industrials
Healthcare
Business Services & Education
Other
Consumer, Food & Retail
Telecom, Media & Technology
Financial Institutions
Lazard is consistently ranked one of the top advisors for deals under $1 billion in value based on number of transactions.
2018Middle Market Global Ranking
Leading Middle Market Advisor
Middle Market Deals by Sector
2018 Highlights Global Expertise
THOMSON3
Buyer Nations
33%Cross-border sell-side advisory transactions
2018 Select Middle Market Transactions
Leading global middle market advisor offering a wide array of financial
advisory services to mid-sized clients around the world
2018 Select Middle Market Transactions
17 14149Corporate Finance
RestructuringMergers & Acquisitions
Deep Sector Expertise
Robert Frost, Group Co-HeadChief Executive Officer+1 612 371 [email protected]
Jim Conniff, Group Co-HeadEngineered IndustrialsIndustrial Products & Services+1 312 928 [email protected]
John BresnahanOilfield Products & Services +1 713 423 [email protected]
Jeff ChenChemicalsPackaging & Plastics+1 612 371 [email protected]
Matt DaltonBuilding Products & Metals+1 612 371 [email protected]
Dave HallettTransportation, Logistics & DistributionPackaging & Plastics+1 612 371 [email protected]
Jim ReillyAutomotive AftermarketIndustrial Products & Services+1 612 371 [email protected]
George FisherOilfield Products & Services+1 713 423 [email protected]
Alex GrimstadIndustrial Products & ServicesTransportation, Logistics & Distribution+1 612 371 [email protected]
Joe StormontIndustrial Products & Services+1 612 371 [email protected]
Doug Fordyce²Oilfield Products & Services+1 713 236 [email protected]
Austin Harbour²Oilfield Products & Services+1 713 236 [email protected]
Michael Richter, Group Head²Aerospace & Defense+1 310 601 [email protected]
Stephen Henry²Aerospace & Defense+1 310 601 [email protected]
IndustrialsBusinessServices & EducationEd King, Group Co-HeadTech-Enabled Services & BPOEducation Services+1 312 928 [email protected]
John Lonnquist, Group Co-HeadTech-Enabled Services & BPOFacilities ManagementHuman Capital Management+1 612 371 [email protected]
Joseph ConteFacilities ManagementMarketing & Media Services+1 212 418 [email protected]
Kosta BourlasEducation Services+1 312 928 [email protected]
Mark NoelTech-Enabled Services & BPOInformation & IT Services+1 612 371 [email protected]
Healthcare
Michael Wiggins, Group HeadPharma Distribution & Outsourcing+1 212 418 [email protected]
Jeff SaxtonManaged Care Services +1 704 719 [email protected]
Antoine FarrisPharma Distribution & Outsourcing +1 212 418 [email protected]
Parth TalatiPharma Distribution & Outsourcing +1 212 418 [email protected]
FinancialInstitutions
Dimitar Karaivanov+1 6467 949 [email protected]
$
Deep Sector Expertise
Restructuring
Jason Cohen, Group Co-Head +1 212 418 [email protected]
Andrew Torgove, Group Co-HeadChief Operating Officer+1 212 418 [email protected]
Dermott O’Flanagan +1 212 418 [email protected]
Stephen Golmont +1 212 418 [email protected]
FinancialSponsors
Steven Tipler, Group Head+1 612 371 [email protected]
David Santoni+1 612 371 [email protected]
Scott Ames+1 612 371 [email protected]
Daniel Gajewski+1 212 418 [email protected]
Austin Bogestad+1 612 371 [email protected]
Consumer, Food & RetailDavid Iverson, Group Head+1 612 339 [email protected]
Sean DaughertyConsumer+1 312 928 [email protected]
Ryan HaysDirect Marketing & Retail+1 212 418 [email protected]
David SolomonConsumer & Retail+1 312 928 [email protected]
Adam WiedenFood & Agriculture+1 612 371 [email protected]
Alejandro ColaFood & Agriculture+1 612 371 [email protected]
Harsh Singh Consumer, Food & Retail+1 612 371 [email protected]
Jon TenanConsumer, Food & Retail+1 212 418 [email protected]
Sam AlexanderConsumer, Food & Retail+1 646 949 [email protected]
Telecom, Media& TechnologyGarrett Baker, Group HeadTelecom & Digital Media+1 212 418 [email protected]
Jason HutchinsonTechnology & Software+1 628 263 [email protected]
David ParkerCommunications & Broadband Infrastructure+1 646 949 [email protected]
Marshall PhelpsSports/Entertainment Media & Services+1 212 418 [email protected]
CorporateFinance
Michael Schwartz, Group Head+1 212 418 [email protected]
Bill Scheuerer+1 212 418 [email protected]
Ken Kantowitz+1 212 418 [email protected]
Our professionals bring to every assignment:
• Senior-level attention
• Deep industry sector expertise• Global access to C-level relationships
• Strategic insights and transaction judgment• Cross-functional approach with the right combination
of industry, product, and geographic expertise
43global offices
27countries
Our Differentiated Strategy
¹ The middle market is defined as transactions less than $1 billion.² Employees of Lazard Frères & Co. Other bankers named are employees of Lazard Middle Market LLC.References to “Lazard” include Lazard Middle Market LLC, Lazard Frères & Co. LLC and other subsidiaries of Lazard Ltd.
Global Reach and Strategic Access
MINNEAPOLIS80 South Eighth StreetSuite 2700Minneapolis, MN 55402+1 612 339 0500
CHICAGO300 North LaSalle StreetSuite 2300Chicago, IL 60654+1 312 928 0760
HOUSTONJPMorgan Chase Tower600 Travis StreetSuite 3300Houston, TX 77002+1 713 423 8600
NEW YORK600 Fifth AvenueSuite 800New York, NY 10020+1 212 758 8575
SAN FRANCISCO4 Embarcadero Center24th FloorSan Francisco CA 94111+1 415 281 4500
CHARLOTTE227 West Trade StreetSuite 1900Charlotte, NC 28202+1 704 208 5820
Middle Market Offices