CEDARBRIDGE PARTNERS CORPORATE PRESENTATION 2019
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CedarBridge Partners Corporate Presentation 2019
CedarBridge Partners - Overview
Who We Are
CedarBridge Partners invests in solid and promising companies and management teams. We partner with and support
our portfolio companies both financially and operationally to achieve exceptional growth
Investment Vehicles
CedarBridge High Growth 1 CedarBridge High Growth 2 Co-investment Vehicles
Invested $1 to $10mn in operating Currently investing $2 to $20mn per Customized and flexible co-investment
companies in MENA that combine both transaction in Education, Healthcare, vehicles for our investors and partners to
growth and cash flow generation and Retail Services invest in selected opportunities
alongside CedarBridge
2
Sector Focus with Strong Industry Expertise
Education Healthcare Retail and Consumer
Nurseries Laboratory Chains Restaurants
K-12 Schools Clinics Coffee Shops
Universities & Colleges Pharma Distributors
Spas
Areas of
Training Academies Cosmetic Centers
Investment
Beauty Salons
Equipment Maintenance
Test Centers
Day Surgery Centers Sports Shops
Content Development
(mainly Digital) Radiology Centers Cosmetics
Investee
Companies
3
Geographical Focus
CedarBridge team has demonstrated a hands-on ability to grow businesses across the GCC, United Kingdom, Egypt,
Cyprus and the Levant while having significant investment knowledge of Turkey, East Africa, Morocco and Tunisia
Turkey
United
Kingdom
Cyprus
Lebanon
Tunisia
Kuwait
Morocco
Qatar
Egypt UAE
Saudi Arabia
Oman
Kenya
Very Familiar Invested
4
Investment Style
Operationally Savvy & Innovative and Independent
Resourceful Thinkers
Deep Sector Knowledge Strict Investment Discipline
Operational Expertise Best Global Practices
Seasoned Investment Team & Well-versed with MENA region
Advisory Board
Proprietary Deal Flow Focus on Returns, not Size
Deep Networks in Focus Sectors Focus on Investor Returns
Access to Proprietary Deals Long-term Buy and Build Strategy
for small, promising companies
5
Three-pronged Unique Strategy
Buy solid businesses
at reasonable multiples
Expand business lines or Maintain positive operating
geographic footprint while cash flow from the
controlling cost and capital businesses
expenditure
Distributions in the short-term and Capital gains in the long-term
6
Core Strengths
>12 years 20+ >$1bn 45+ years
of Managing Directors working deals done of cumulative AUM in cumulative experience
together prior experience in investing
Well-rounded, International
Flat Structure
Experienced Team Expertise
Private Equity and Venture Capital Three Managing Directors Managing Directors with
SME / Entrepreneurial covering all aspects of the deal experience in multiple geographies
particularly in Europe and MENA
IT Sourcing
Consulting Due diligence
Industrial Closure
Multinationals Post-acquisition monitoring
Family Businesses Value creation
7
Experienced Leadership Team with an Impeccable Track Record
(1/3)
Imad Ghandour
Co-Founder & Managing Director
A well recognized regional Private Equity investor, Imad Ghandour, co-founded CedarBridge Partners. He is also a member of its
Investment Committee
Mr. Ghandour is a board member of the MENA Private Equity Association (MPEA). He is also the Editor-in-chief of MPEA’s
Annual Report since 2006
Mr. Ghandour represents CedarBridge in Advanced Laboratory Services (now exited), a leading provider of isometric medical
testing in Saudi Arabia; CIRA, the largest education company in Egypt, and Kids First Group, the largest chain of nurseries in
GCC. He co-leads all transactions, and continues to monitor investments. He also leads the acquisition program of Kids First
Group which has closed 5 acquisitions to date
Prior to CedarBridge, Mr. Ghandour was an Executive Director- Private Equity at Gulf Capital based in the UAE. Prior to Gulf
Capital, he was an Independent Consultant for 12 years, working with several regional and international organizations on
investment and market research assignments
He has successfully invested over $220mn throughout the MENA region in strategic sectors including Healthcare, Education,
and Utilities
Mr. Ghandour also holds directorships in Ma’arif Education and Training Holding; Metito Holding Ltd; and TechnoScan
Investment Holding
Graduated in Computer Engineering from American University of Beirut, Mr. Ghandour holds an MBA from University of
Wisconsin. He was also awarded with the prestigious Private Equity Man of the Year Merit Award in 2011
8
Experienced Leadership Team with an Impeccable Track Record
(2/3)
Magellan Makhlouf
Co-Founder & Managing Director
Magellan Makhlouf is a seasoned Business and Private Equity leader. His international experience has developed through
multiple postings, board positions and leadership roles, across numerous industries
Prior to CedarBridge Partners, Mr. Makhlouf was the MD, Private Equity at Gulf Capital based in the UAE
Mr. Makhlouf’s extensive Board experience includes Ma’arif Education and Training Holding; Metito Holding Ltd; Gulf Marine
Services; and Techno Group
Prior to working in the UAE, Mr. Makhlouf worked for Johnson Controls in Brussels, Belgium for 5 years, most recently as
Director of Marketing, Service and Solutions - EMEA
Prior to Johnson Controls, Mr. Makhlouf was at General Electric (GE) for 8 years in various business units and leadership roles
in North America and Europe. During his stint at GE, and in addition to his business roles, he also won numerous management
leadership awards and taught GE’s Executive Training Program
Graduated with a BSBA from the University of Windsor in Ontario, Canada from GE’s Executive Financial Management Program,
Mr. Makhlouf is also a certified six-sigma black belt
9
Experienced Leadership Team with an Impeccable Track Record
(3/3)
Mohamed Sharara
Managing Director
Prior to joining CedarBridge Partners, Mohamed Sharara served as Managing Director-Investments at the Bahamdan Group
Mr. Sharara served on the senior management committee and as board director and executive committee member for a number
of companies, including Tas’helat, Sahl Retail, Sahl Transport and Sara Business Solutions, and closely advised on Aluminum
Products Company, Health Water Bottling, Farabi Petrochemicals and the Economic Cities of Saudi Arabia
Prior to Bahamdan Group, Mr. Sharara served as an Executive Director - Private Equity at Gulf Capital in the UAE for 5 years,
focusing on proprietary sourcing, origination and execution of Private Equity transactions, with particular emphasis on F&B
industrial and retail, as well as on fund raising and investor relations
Before moving to the UAE, Mr. Sharara was Vice President at JPMorgan Investment Banking M&A as well as in Wealth
Management, based out of London and Geneva offices. He was a member of the JPMorgan team advising Saudi Aramco on the
Natural Gas Initiative
Previously, Mr. Sharara was based in the United States (Boston and Washington DC) with the BV Group (Safanad) where he
assessed and closed VC transactions in the US and led work on international business development
Mr. Sharara holds a Bachelor of Science and a Master of Science in Manufacturing Engineering with a Concentration in
Operations Management from Boston University where he graduated Summa Cum Laude, and an MBA from INSEAD
10Recognized Thought Leaders in Private Equity
The firm was currently
positive on businesses
correlated to government
budget spending, which
included infrastructure,
education and healthcare,
said Magellan Makhlouf
11Financial & Operating Advisory Board
Financial Advisory
Board
James Zenni Amaury Junior David Lin
Founder, Z Capital Founding Partner Managing Director
and Black Diamond Capital, USA Vision Brazil Investments, Brazil Primavera Capital, China
Operating Advisory Board
Wallace Doolin Ralph Tabberer Dr. Hamad Al-Omar
Ex-CEO, TGI Fridays, USA CB MA D.Ed FRSA, UK Founder mHealth Company, Saudi
Arabia
Guy Sauvage Tarek Antrazi Elias Monem
Chief Executive Officer, Al Meera, Founder Mars Media Services, Ex CEO, Agility MENA, Saudi Arabia
Qatar COO Starcom Mediavest Europe,
UAE
12Past Investments
13Past Investments
The Company Investment Terms Returns Summary
Kids First Group
CedarBridge co-founded KFG in
(KFG) – UAE & Exit in July 2018
Qatar 2011 along with Kamil Najjar who
served as the CEO Owned a large minority of KFG
KFG has grown into a regional Representation on the Board of
leader in the early childhood sector, Directors and Executive Committee MoM of 6.5x Invested Capital
and one of the largest operators of IRR on Exit: 36%
nurseries in the MENA region
Cairo For
Investment & CIRA is the largest operator of K-12 Exit in 2015
In 2012, CedarBridge invested into
Real Estate schools in Egypt with 21 operating
a minority equity stake in a
(CIRA) - Egypt schools all around Egypt and
coordinated effort with the IFC
17,000 enrolled students IRR on Exit: 28% in US
Representation on the Board of Dollars; 46% in Egyptian
CIRA also owns and operates Badr
Directors Pounds
University in Cairo
Advanced
Laboratory
Exit in December 2012
Services (ALS)-
ALS is the leader in Saudi Arabia in
Saudi Arabia
advanced medical diagnostic, with In 2011, CedarBridge acquired 51%
70% market share and offices in of ALS
Riyadh, Jeddah and Dammam IRR on Exit: 35%
14Current Investments
15I. Education
16Eton Institute - UAE
About the Company Investment Terms
Established in 2006 and headquartered in Dubai Knowledge Village, % Acquired: 100%
Eton Institute provides languages and professional skill solutions in the
Year of Investment: June 2018
UAE
Investment Strategy: Working closely with the management team to
Eton operates out of two locations in Dubai and Abu Dhabi where it
grow the business
offers a set of learning programs for various age groups and
professions including individuals, government entities and corporates
Eton Institute is accredited by EAQUALS (the evaluation and
accreditation of quality in language services)
17SAE Institute - UAE
About the Company Investment Terms
SAE Dubai was founded in 2005 as a branch campus of the % Acquired: 100%
world's largest media education provider SAE Institute ($130+mn
Year of Investment: 76% in H2 2015 and 100% acquisition in
revenues, 58 institutes in 27 countries, part of Navitas Group)
2017
SAE has a unique offering with no direct competitor in the UAE;
Investment Strategy: Supporting management in expanding SAE
offers bachelor degrees in film, audio, gaming, multimedia, and
business and operation
animation, in addition to short-term courses under the same topics
SAE degree graduates receive accredited Australian degrees
18II. Retail and Consumer
19Costa Coffee - Cyprus
About the Company
Costa Coffee, founded by Sergio and Bruno Costa, in 1971 in London,
UK, offers handmade Italian coffee to customers
Costa Coffee is recognized as a leading coffee brand and has developed
a strong footprint in Europe and internationally
Established in 2004 with its first store in Nicosia (2005), Symeonides
Coffee Cyprus Limited (Costa Coffee Cyprus), is the sole Costa Coffee
Franchise in Cyprus; currently operates 23 stores on the Island
Investment Terms
% Acquired: 70%
Year of Investment: 2018
Investment Strategy: Actively supporting the company in its strategic
expansion plans in Cyprus
20Sisters Beauty Lounge (SBL) – UAE
About the Company
Founded in 2004, Sisters Beauty Lounge (SBL) is currently
positioned as a premium female beauty lounge, providing full
range of hair, nail and body treatments
Operates through its 7 owned centres in Dubai and Abu Dhabi
with presence in all the large malls of Dubai including The Dubai
Mall, Mall of the Emirates, and Mirdif City Centre
SBL is considered the second largest chain of female grooming
services in UAE
Investment Terms
% Acquired: 100%
Year of Investment: 2015
Investment Strategy: Significant expansion of business in the UAE
21The Grooming Company (TGC) - UAE
About the Company
Founded in 2001 in Dubai, The Grooming Company (TGC) is
the parent company of three grooming/beauty brands
The Company started as a nail bar in Jumeirah area called
“N.Bar”, followed by male grooming lounge “1847” in 2004,
and wash and blow dry concept hair care lounge “JetSet” in
2005
Investment Terms
% Acquired: 100%
Year of Investment: 2015 acquisition of 51% followed by
the acquisition of the remaining 49% in 2017
Investment Strategy: Actively supporting the company in its
strategic expansion plans both in the UAE and abroad
22Trevor Sorbie (TSI) – UK
About the Company
Founded in 1979 Trevor Sorbie International (“TSI”) is
a leading chain of hair salons in the UK that is
continually ranked among the top hair salon brand
TSI operates 6 salons in the UK and one flagship store
in Dubai Mall. In addition, TSI distributes a range of
retail and professional products under the brand name
“Trevor Sorbie”, both in the UK and internationally
Investment Terms
% Acquired: 100%
Year of Investment: 2017
Investment Strategy: Actively supporting the company in its
strategic expansion plans both in the UK, UAE and other
international markets
23Stripwax - UK
About the Company
Founded in 2005 by sisters Danielle and Maria-Louise
Strip owns and operates a chain of 6 beauty salons
mainly focusing on waxing services and laser hair
removal
Strip boasts many celebrities amongst its clients
Investment Terms
% Acquired: 100%
Year of Investment: 2018
Investment Strategy: Actively supporting the company
in its expansion plans in the UK
24Dreamworks Spa – UAE
About the Company
Dreamworks Spa (DWS) was established
in 2007 and is the largest chain of
wellness centres in Dubai, operating 22
centres in standalone locations, inside
hotels, and in shopping centres
DWS plans to maintain its leadership in
the wellness sector and to expand its
footprint into more 5 star hotel locations
Investment Terms
% Acquired: 100%
Year of Investment: In 2013,
CedarBridge acquired 75% of DWS, and
has since acquired the remaining 25% to
fully own the company
Investment Strategy: Supporting the
company’s expansion in the UAE and into
new attractive services
25Zen Yoga (ZY) – UAE
Investment Terms
About the Company
% Acquired: 100%
Zen Yoga was founded in 2006 to spread awareness of yoga and its benefits, and is the
Year of Investment: 2014
first yoga centre in Dubai
Investment Strategy: Focused on
Zen Yoga now operates 3 studios and is one of the best known yoga chains in Dubai
enhancing operational efficiency
It also offers corporate yoga services, yoga excursions, and other yoga teacher training and expand the network
26Surge Ventures Inc. (SHEDUL) – UAE
About the Company
Launched in Dubai in 2015, Surge Ventures Inc. provides cloud
software solutions targeting the Wellness and Beauty industry
Through its main offerings Schedul and Fresha, it provides venue
management software and an integrated booking platform
connecting Spa and Salon businesses with consumers online
The Company has been experiencing fast exponential organic
growth with currently thousands of businesses using its services
globally and millions of online appointment bookings since inception
Investment Terms
% Acquired: In 2015, CedarBridge acquired a minority stake in
Surge Ventures and increased its investment in 2016
Year of Investment: 2015 & 2016
Investment Strategy: Support the growth of the Company through
expanding its retail channels in the wellness industry
27III. Healthcare
28Al Shams Laboratories (Shams) – Egypt
About the Company Investment Terms
Al Shams Laboratories (Shams) was % Acquired: Minority Stake
founded in 2012 by Dr. Ahmed Al
Year of Investment: 2015
Safi, founder of Al Borg Lab and
other partners Investment Strategy: Supporting
the owners in strategic decisions,
Shams has successfully opened 62
international linkages, and financial
branches throughout Egypt in a short
organization
span of 3 years, making it the second
largest branch network in Egypt
Shams operates 3 highly accredited
central laboratories to service its
network
29F O R M O R E I N F O R M AT I O N
I N F O @ C E D A R - B R I D G E . C O M
W W W. C E DA R - B R I D G E . C O M Founding Member of Member of
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