Investor Presentaiton
Current Portfolio of Investments [2/5]
tempo
participações
GP Investments
➤Current Total Equity Value $184.4 m (1)
➤ Ownership of Total Capital 27.2% (2)
•
Tempo is the result of a merger between IHH and USS. The
company is the leader in the Brazilian healthcare and insurance
services industry.
• GP envisioned and structured the merger and is now having an
active role in the integration process.
>Total Cost
•GPCP3
•Co-investors
$53.1m
$39.6m
$13.5m
•
The company performed an IPO on December, 2007 raising R$394
million in primary proceeds. The IPO price implied a valuation
equivalent to 3.5x its initial cost.
BRProperties
➤Current Total Equity Value $318.8 m (3)
➤ Ownership of Total Capital 79.04% (2)
➤Total Initial Cost
•GPCP3
$153.0m
$45.0m
•Co-investors
$108.0m
• Established with the purpose of investing in commercial real estate
assets in Brazil, with a primary focus on office buildings,
warehouses, and retail locations. The company's pipeline amounts
to over $1 billion. Leverage is normally two thirds of the total
acquisition price.
•
The company has recently raised additional US$149 million from
investors through a private round to fund the company's expansion
plan. Pre-money valuation of the company was US$262 million,
which implies 1.6 x cash-on-cash multiple in 12 months.
(m
Magnesita S.A.
➤Current Total Equity Value $630.5 m (1)
➤ Ownership of Total Capital 50.4% (2)
>Total Cost
➤GPCP3
$1,019.6m
•GPCP4
$ 53.1m
$204.0m
•Co-investors
$316.6m
•Debt
$445.9m
⚫ With the acquisition of the German LWB Refractories, Magnesita is
already the third largest refractory company in the global refractories
industry.
• The ongoing process of controlling expenses and improving
efficiency resulted in an EBITDA growth of 60.3% from the third
quarter of 2007 and an EBITDA margin of 29.1%, an increase of 7.3
percentage points.
(1) Market Cap as of December 31, 2008
(2) Including Co-Investors
(3) Valuation after the private round of investments
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