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| END GAMES & EXIT
STRATEGIES |
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Throughout the year the Boston Entrepreneurs' Network described
the major tasks of producing a successful company. We discussed setting of
ideas and business models, researching the market and competition, gaining
financing, planning and executing for growth, developing sales and strategic
alliances. Now we focus on the very major milestones in the continued growth
and success of a company, End Games and Exit Strategies. These are the rewards
for investors, the securing of additional capital for heightened company growth
and the taking care of loyal employees who have worked so hard to get the
company this far. At this, our final meeting of the 2001-2002 year, you are
going to hear from the funding sources and these companies who have also worked
to bring together all the elements into a winning combination. Positioning a
company for a buy out or an IPO.
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| Panel: |
Richard W.
Munkelwitz is Vice President of O'Conor, Wright Wyman, a regional
investment banking firm based in Boston. Founded in 1965, the firm serves
middle market companies in the areas of mergers, acquisitions, divestitures,
valuations and corporate finance. The firm has ten professionals, many with
senior corporate operating experience.
Richard W. Munkelwitz has spent
his career working with emerging and mature technology companies. In addition
to helping Amoco Corporation diversify outside the core oil and gas business,
he headed a number of software product groups in that company, and took this
experience to First Chicago Corporation, where he was responsible for
technology lending and investment. He headed the Boston office of Sanwa Bank, a
multinational bank working to introduce Japanese technology companies to
investment opportunities in the New England market. He founded Crossroads
Ventures, a regional M&A firm, and has worked with O'Conor Wright Wyman on
transactions since 1996. While emerging companies are not the mainstream of his
activity, he acts as advisor, board member and investor in a number of early
stage ventures. He is a graduate of M.I.T. and Columbia University.
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Gregory B.
Sneddon is the Senior Managing Director of Consilium Partners, a
Boston-based boutique investment banking firm. Consilium provides financial
advisory services, including; mergers and acquisitions, sales and divestitures,
leveraged buyouts and recapitalizations, growth and buyout capital needs,
fairness opinions and related corporate advisory services. Founded in 2000 by
senior professionals from FleetBoston Robertson Stephens, Inc., the firm has a
dedicated focus on serving the needs of clients in the middle-market and
emerging growth sectors. The firm's principals have a proven track record of
more than 100 completed transactions with an aggregate transaction value
exceeding $15 billion advising public and private clients, domestically and
internationally across a broad array of strategic and financing transactions
across a broad spectrum of industries including technology, consumer products,
media & telecommunications, business services, publishing, retail &
industrial distribution, energy, real estate and manufacturing
sectors.
Prior to co-founding Consilium Partners, Greg served as
Managing Director and Group Head of the Middle-Market Mergers and Acquisitions
Group at FleetBoston Robertson Stephens Inc. responsible for managing a group
of ten M&A professionals with a focus on transaction sizes ranging from $10
million to $250 million. Previous to joining Fleet, Greg was a Managing
Director in the M&A Group of BancBoston Robertson Stephens, where he
specialized in a range of sell-side and buy-side transactions in the Consumer,
Industrial Growth and Media/Telecom sectors. Greg was previously Director of
Corporate Finance in the Boston office of KPMG, where he originated, directed
and executed strategic advisory and financing transactions for clients
throughout New England. Prior to KPMG, Greg spent ten years in corporate
finance, high technology lending and corporate development positions at
BankBoston. Greg holds an M.B.A. and M.S. in Finance, summa cum laude, from
Boston College, and is Chartered Financial Analyst. Greg is a member of the
Boston Security Analysts' Society and the Association for Investment Management
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Mikko
Suonenlahti is a Director of 3i, a leading international venture capital
company with U.S. offices in Menlo Park, CA and Waltham, MA. Operating since
1945, 3i has invested worldwide over $21 billion, including co-investment
funds, through its 16-country, 3-continent network of 36 offices. 3i leverages
this worldwide presence to add value to its portfolio companies and investment
partners. Outside the USA, 3i invests broadly in private equity and venture
capital. In the United States, 3i concentrates on technology investments in
companies with the potential to be leaders in their markets. Investments
typically range in size from $4m to $15m and further investment amounts over
the life of the company.
Mikko has been with 3i since 1995 and moved to
3i US in 2001. He has been involved as an investor and board member in a
multitude of seed and later stage technology deals in the software and
communications sectors. Mikko's experience also include many aspects of
portfolio management including strategic planning, executing corporate
governance, turn around management and cross border and cross continent
divestments. He currently represents 3i on the Board of Quantiva. Mikko brings
20 years of global management experience in the information technology industry
and a decade of experience in the venture capital industry. Prior to partnering
with 3i, Mikko was a co-founder of the venture capital management firm SFK
Finance. Mikko led and managed seed and later stage investments in Finland,
Denmark and the United Kingdom. In addition to his extensive background in
venture capital, Mikko has also held management positions at Nokia, McKinsey,
Unisys and a venture financed start-up, 3D Computing. Mikko received his MBA
from the Helsinki School of Business. He also holds a BBA from Portland State
University, USA and the University of Copenhagen. Mikko's native language is
Finnish, and he also has a working knowledge of French and Danish.
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| Moderator: |
Larry Grumer,
Chairman, Boston Entrepreneurs' Network & Founder & Managing Director,
Technology Associates & Alliances (TAA), - management advisory and
investment company that commercializes technology for early-stage companies and
corporate spin-outs preparing these businesses for accelerated growth, high
valuations, funding and strategic corporate partnerships and business recovery.
TAA establishes and implements companies' growth strategies through; emerging
markets, corporate partnering, sales and licensing to bring the technology
research and commercial product concepts to manufacturing, and market
realities. Mr. Grumer has held profit & loss management positions a Textron
(Avco), Arthur D. Little, John Brown Group, and Foster-Miller where he helped
effect their business turn-around. He received a BS in Engineering and MBA with
high distinction in International Marketing and Finance concentration from
Northeastern University. He has held a Top Secret clearance. |
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