Selected Experience - Financial Transactions

Mergers and acquisitions. Supported a variety of bids by corporate and private equity clients, through strategic and commercial due diligence, financial modelling, developing profit improvement plans, and addressing key valuation issues. The bids have been for:

• Two European rail wagon leasing businesses
• A European ferry operator
• A global rail equipment manufacturer
• A UK rail freight operator
• A global shipping services business
• A low cost airline
• The acquisition of a rail franchise

New investment strategy. For a transport operator, developed a strategy to leverage its operating expertise into related equity investments, including acquisition of existing operations in partnership with Infrastructure Funds, asset leasing and newbuild projects.

Investment review. For a private equity firm, advised on a review of selected transport sectors throughout Europe, to identify sectors and specific companies that were attractive investment opportunities and met the PE firm's criteria.

Cross-border leasing. Advised various arrangers on the commercial feasibility of major cross-border leasing arrangements for transport assets in Europe.

Concession bid support. Acted as Bid Director for a transport group's bid for two major train operating concessions in Europe. The 15-man bid team included client managers, consultants and representatives from the joint venture partner.

PPP advice. Advised a bidder for the London Underground infrastructure and rolling stock public-private partnership, including modelling the key cost elements and risk factors in the bid.

Concessioning strategy. Advised the South African Department of Transport on the concessioning of commuter rail services. The work included advising on the structure of the concession, developing a new concessioning contract, and acting as facilitator in negotiations between the government and Metrorail, the operator.