|
|
Preliminary Agenda
Day One: Thursday, October 18
|
| 8:15 – 8:30 |
Chairman’s welcome
|
8:30 – 9:30
|
Expert Panel: Operating partner team models
• What are the different organizational structures PE firms use to effect operational improvement?
• Is there a trend towards industry standardization – a small dedicated in-house operating partner group with strategic use of hand-picked consultants?
• How will the addition of an operating partner group impact the firm culture?
• How to distinguish the best model for your firm?
• What constitutes successful execution and what can you do to foster collaboration between operating partners and deal professionals?
Moderator: Jon Weber, Managing Director, Portfolio Group, Anchorage Capital Group, LLC
Panel Members:
Miles Graham, President and COO, John Hardy and Former Head of Active Partnership, 3i Plc
Geoff Greulich, Managing Director, Oaktree Capital
Brandt McKee, Senior Managing Director, Portfolio Operations, Centerbridge Partners
|
9:30 – 10:15
|
Keynote Interview
John Castle, Chairman & CEO, Castle Harlan, Inc.
Interviewed by Philip Borel, Editorial Director, PEI Media
|
| 10:15 – 10:45 |
Networking Coffee Break |
| | | | 10:45 – 11:15 | Keynote interview
AG Lafley, Senior Advisor, Clayton Dubilier & Rice
Interviewed by Sam Sutton, Staff Writer, PEI Media
| | 11:15 – 11:35 | Deal Mechanic: Case Study I
Court Square was fortunate to acquire a majority equity position in a founder built technology company that was on a successful revenue and EBITDA growth trajectory. Transforming an exciting business like this from 100% entrepreneurial culture to the right blend of public company standard and entrepreneurship, presented unique opportunities during the first 36 months of ownership while on a acqusitive pace.
Presenter:
Doron Grosman, Operating Partner, Court Square Capital Partners
|
| 11:35 – 12:30 |
Panel: Maximizing the value of the operating partner during the due diligence phase
• Assessing the potential to realize and achieve key operational improvements
• Identify operational risk and earning potential of acquisition candidates
• Analyzing the risk and impediments to growth
• Using due diligence to feed into developing the 100- day plan
Moderator: Tom Taylor, Private Equity Services, Ernst & Young LLP
Panel Members:
Cory A. Eaves, Managing Director, Head of Resource Group, General Atlantic LLC
Greg Hughes, Director, Silver Lake
Steve Stubitz, Operating Partner, The Riverside Company
| | 12:30 – 2:00 |
Luncheon |
| 2:00 – 3:00 |
Workshops A & B |
| |
Workshop A: Working with under performing portfolio companies
• What are the key areas that will have maximum impact in the shortest time frame?
• Making critical decisions with less than perfect information
• Developing a critical path for improvements
• Extracting value from distressed and turnaround situations
• Protecting your firm against liabilities
Participants:
Edward T. Hightower, Managing Director, Motoring Ventures LLC
Paul de Janosi, President and Global Head of Mergers & Acquisitions and Private Equity, Celerant Consulting
Christopher J. Kipley, Senior Managing Director, Z Capital Partners
|
| |
Workshop B: Leveraging procurement to drive EBITDA improvement - Lessons from the field
• Different Paths to Success—A Review of the Structural Options
• Selecting the Optimal Strategy
• Case Study: The Right Model for TH Lee
• Cross-Portfolio Programs—Challenges and Keys to Success
Participants:
Tom Beaty, President & CEO, Insight Sourcing Group
Doug Vandenberg, Director, Strategic Resources Group, Thomas H. Lee Partners
|
|
|
| 3:00 – 3:15 |
Coffee and networking break |
| 3:15 – 4:15 |
Workshops C & D
|
| |
Workshop C: Case studies of carve-outs
• Keeping the portfolio company management team focused on critical tasks during transition period
• Creating value from cost synergies
• Managing staffing changes
• Getting IT right
Participants:
Tom Byrne, Director, Performance Improvement Consulting Services, McGladrey LLP
David Noonan, Vice President of Business Development, itelligence, Inc.
Shahriyar Rahmati, Vice President, Finance, The Gores Group
John Stewart, Principal, Monomoy Capital Partners
| | |
Workshop D: Transformational ownership: moving beyond 100-day plans
• What do we mean by “transformational ownership”?
• What role do 100 day plans play in transformational ownership?
• Who leads the process, the Operating Partner or the CEO?
• How is transformational ownership different in a growth situation versus distressed?
• What role do service providers play in transformational ownership?
Moderator: John Dupuy, Chief Executive Officer, AirNet
Participants:
Rob Ospalik, Partner & Director of Portfolio Management, Baird Private Equity
David Pate, Global Client Manager, TBM Consulting Group, Inc.
Doug Schrock, Principal, Advisory Services, Crowe Horwath LLP
| | 4:15 – 4:35 | Deal Mechanic Case study II
The Houghton story is one of an industry leader and consolidator in a highly fragmented specialty chemical segment. AEA Investors, Houghton International and Celerant talk about their experiences of leading the transformation of a 140-year family owned business into a profitable, contemporary enterprise with modern business processes and practices. The complexity of the transformation was magnified by the economic downturn and global recession of 2009 in which the business met its stakeholder expectations and continued to implement its growth vision. The panel will discuss the importance of building a strong financial platform, leading change with organizational effectiveness, enterprise-wide business process upgrade and cost restructuring through Operational Excellence, successful integration of two very different acquisitions (one a stand-alone competitor and other a carve-out from big oil company) and long-term sustainability through organic growth strategy and platform.
Panel Members:
Gary Cappeline, Operating Partner, AEA Investors LP
Paul de Janosi, President and Global Head of Mergers & Acquisitions and Private Equity, Celerant Consulting
Paul DeVivo, Chief Executive Officer, Houghton International
|
4:35 – 5:30
|
A view from the portfolio company CEOs
• Management autonomy and sponsor inclusion – striking the right balance
• Using private equity involvement as an effective agent for change
• Managing transitions – the first 100 days, and the last 100 days
• Engaging with the GP over the life of the transaction
Moderator: Melissa A. Henderson, President & CEO, Summit Executive Resources
Panel Members: Peter F. DiGiammarino, Chief Executive Officer, IntelliVen
Miles Graham, President and COO, John Hardy and Former Head of Active Partnership, 3i Plc
Sean Harrigan, President & CEO, B&B Electronics
| | 5:30 – 7:00 |
Cocktail Reception and end of day one |
| |
|
| Back to top |
|
Day Two: Friday. October 19
|
| 8:00 – 8:50 |
Operating Partners Think Tank (Invitation only)
This closed door session will allow Operating Partners to speak candidly about the issues impacting their role. Attendees can benchmark ideas and share best practices
to help you gain solutions for common value creation concerns.
Doron Grosman, Operating Partner, Court Square Capital Partners
Shahriyar Rahmati, Vice President, Finance, The Gores Group
|
| 8:00 – 9:00 | Continental breakfast |
| 9:00 – 9:05 | Chairman's welcome
|
9:05 – 9:30
|
Compensation survey results
Interactive survey benchmarking compensation structures for operating partners as well as defining scope of responsibilities, performance metrics, reporting lines.
Heather Hammond, Managing Director, Russell Reynolds
Gary Matthews, Managing Director & Operating Partner, Morgan Stanley Private Equity
| 9:30 – 10:15
|
Panel: Portfolio company CEO assessment and talent management
• CEO compensation models
• Frequency of review
• Succession planning in portfolio companies
• Having an orientation around getting all of the best people to work together
Moderator: Michael Feiner, Head of Human Capital / Senior Managing Director, Irving Place Capital
Panel Members:
Heather Hammond, Managing Director, Russell Reynolds
Joelle Marquis, Partner, Arsenal Capital Partners
Gary Matthews,Managing Director & Operating Partner, Morgan Stanley Private Equity
| | 10:15 – 11:00 | Panel: Corporate governance
• Board charter and expectations
• Constitution of the board, external vs. internal
• Leveraging the board to recruit and assess management
• Compensation committees on boards
• The accountability question - what decisions are made by the board and what decisions are made by management?
• Who takes responsibility if things don't go as planned?
Moderator: William Ramsey, Operating Partner, Wellspring Capital Management, LLC
Panel Members:
Eric Becker, Senior Managing Director, Sterling Partners
Richard Leonard, Managing Director, Angelo Gordon & Co.
Greg J. Pappas, Operating Partner, Portfolio Support, Berkshire Partners
| | 11:00 – 11:20 |
Networking coffee break |
11:20 – 11:50
|
LP Interview: What should an investor be looking for in their GPs?
• Measuring value creation capabilities and validating attribution analysis
• Who is the real deal, who is window-dressing and how to tell?
• Measuring the impact at exit
• Understanding sector differencesDavid C. Turner, Managing Director, Head of Private Equity, The Guardian Life Insurance Company of America
Interviewed by Christopher Witkowsky, Editor, Private Equity International
|
| 11:50 – 12:20 |
Panel: Managing and monitoring your portfolio companies effectively
• Monitoring techniques for businesses with high leverage
• Managing companies with low leverage levels
• Covenant monitoring
• Measuring sales growth
• Using dashboard tools and customized software to extract data and analyze performance
Moderator: Scott Glickman, Senior Operating Partner, Graham Partners Operating Company
Panel Members:
Hilary Gosher, Managing Director, Insight Venture Partners
Stan Mork, National Leader – IT Transaction Advisory Services, McGladrey LLP
Jill Yankaskas, Director, Goldman Sachs Special Situations Group
|
| 12:20 – 1:00 |
Selling well and the role of the operating partner in exit readiness
• Making sure the company is fine tuned
• Transitioning of the management team
• Giving buyers confidence that business performance is not just financial smoke and mirrors
Moderator: Marc Rabinowitz, Partner, Divestiture Advisory Services, Ernst & Young LLP
Panel Members:
Steven Brody, Operating Executive and Head of FP&A, Cerberus Operations and Advisory Company
Michel Lagarde, Managing Director, JLL Partners
John McGuire, Managing Director of Operations, Lone Star Investment Advisors
Steve Stubitz, Operating Partner, The Riverside Company
|
| 1:00 – 2:00 |
Closing remarks and buffet luncheon |
| |
End of conference | | Back to top |
|
|