|
Aegis was established
to assist companies in maximizing value in strategic transactions.
Whether developing basic strategies, pursuing corporate acquisitions
or divesting non-core assets, companies can only be assured
of achieving optimal results if they work with advisors that
have extensive transactional, commercial and technical expertise
to thoroughly address the issues that impact a business or arise
in course of transactions.
The full scope of Aegis’ services and activities is set
forth in the summary below.
|
|
» |
Comparative Business Analysis: evaluating
a company’s financial and/or operating performance
against its competitors |
» |
Competitive Assessments: evaluating
a company or group of companies strengths, weakness,
opportunities and threats. |
» |
Industry Strategic Perspectives: reviewing
the key forces driving the economics of a business,
including an analysis of the key business sub-segments |
» |
Market Supply/Demand Dynamics: assessing
the direction of market supply and demand dynamics
by business segment and/or region |
» |
Topical Analyses: studies of specific
business areas - Examples |
|
· |
Determinants of
gasoline demand |
|
· |
Impact of hypermarkets on gasoline
retailing |
|
· |
OPEC production strategies |
|
· |
Liquid Pipeline Master Limited
Partnership (MLP) Profiles |
|
· |
Retail Marketing consolidation |
|
· |
Impact of low sulfur fuels on
refining |
|
· |
Transaction structuring options
|
» |
Equity Market Valuation: relative
market valuations within and among industry segments |
|
[^] Back to top |
|
|
» |
Transaction Value Deconstructions:
analyses of the underlying economic assumptions,
valuation metrics, and IRRs of announced transactions |
» |
Business and Asset Valuations: valuations
based on comparable companies, comparable transactions
and rigorous discounted cash flow (DCF) analyses |
|
· |
using detailed technical
and commercial expertise |
|
· |
proprietary financial models |
|
· |
appropiate scenario and sensitivity
analysis |
|
[^] Back to top |
|
|
» |
Divestitures |
|
· |
Analysis and valuation of asset or
business |
|
· |
Preparation of marketing materials,
confidential memoranda, virtual and physical data
rooms. etc. |
|
· |
Identification, quantification and
characterization of buyer universe |
|
· |
Development of marketing strategy |
|
· |
Solicitation of buyer interest |
|
· |
Process management |
|
· |
Negotiation and documentation |
» |
Acquisitions |
|
· |
Target identification,
assessment, valuation and ranking |
|
· |
Development of competitive
bidding strategy |
|
· |
Bid formulation and design |
|
|
· |
Cash |
|
|
· |
Equity |
|
|
· |
Other |
|
· |
Negotiation |
|
|
· |
Transaction structure |
» |
Corporate
Transactions |
|
· |
Mergers |
|
|
· |
Pro forma financial
analyses of business combinations |
|
|
· |
Accretion/Dilution
analyses |
|
· |
Minority Closeouts (Going
Private Transactions) |
|
· |
Fairness Opinions |
|
[^] Back to top |
|
|
» |
Transaction Databases: summaries of
historical transactions reflecting customary valuation
metrics, including estimated IRRs |
|
· |
Refineries |
|
· |
Terminals |
|
· |
C-stores,
gasoline retailing |
» |
Financial Models |
|
· |
Refining |
|
|
i. |
Linear Program (PIMS®,
licensed by Muse Stancil) |
|
|
ii. |
complex spreadsheet model |
|
|
|
1) coking vs. cracking |
|
|
|
2) cash flows by individual
product and crude |
|
|
iii. |
simple spreadsheet model |
|
|
|
1) simple margin estimator |
|
|
|
2) estimates dixed and variable
costs |
|
|
|
3) incorporates sustaining and
mandated capex |
|
|
|
4) fully tax effected |
|
· |
Terminaling |
|
· |
Retailing |
|
· |
Pipelines |
|
· |
Upstream Disclosure
Reconciliation Model: translates SEC disclosure
of upstream segment into estimated decline curves,
which can be used as proxies for reserve reports |
|
[^] Back to top |
|
|
» |
Annual Downstream Retainer |
» |
Strategic Audit |
» |
Transaction Deconstruction |
» |
Net Profits Interest |
|
[^] Back to top |
|
|
|