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C ontents2 Who we are
2 What we do
2 Where we operate
3 Who we work with
4 Detailed description of our services
10 Our experience across sectors and geographies
12 Our networks
14 Meet the team
Mergers & Acquisitions Services
Acquisition & Disposal Advisory
Capital Raising
Transaction Services
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We are sector-agnostic and have successfully completed
mandates in multiple sectors from Agriculture to FMCG to
Real Estate to Technology. For a complete list of our sector
experience, please see page 10.
We work on both the buy-side and sell-side of transactions.
Our clients include private businesses, family investment
offices, multi-nationals, private equity, insurance and pension
funds.
Who we areHorizon Africa Capital is a boutique financial
advisory firm based in Nairobi, Kenya.
Our range of services are
covered in four broad areas:
From our offices in Nairobi, we offer our services
to clients across the East and Southern African
region.
We have successfully completed assignments across
Kenya, Uganda, Tanzania, Rwanda and Democratic
Republic of Congo.
Our client focus is on
businesses that are
shaping the economies
of the countries in
which we operate.
Who we work with
What we do
Where we operate
M & AServices
CapitalRaising
Acquisition& DisposalAdvisory
TransactionServices
fivefour
Acquisition &
Disposal Advisory
Capital Raising
TransactionServices
Detailed description of our services
M & A Services
• Business review and planning
• Corporate strategy
• Market research on sectors and regions
• Determine optimal capital structure(s)
• Use our network to identify potential investors
• Prepare an info memorandum for marketing
• Negotiate terms and recommend the best offer
• Identify potential buyers & targets
• Organise, supervise & manage the deal process
• Transaction structuring
• Capital and balance sheet restructuring
• On and off-shore structuring
• Financial Due Diligence
• Financial Modelling
• Valuation Analysis
Evaluate the direction to
drive your business towards:
Should you grow organically
or via acquisitions? Does it
make sense to diversify into
new markets or expand the
existing product range?
We are able to provide
clients with a clear
understanding of the
opportunities and threats
present when considering
market entry into new
sectors or geographies.
Corporatestrategy
Market
research on
sectors and regions
Mergers &Acquisitions
ServicesHow are you measuring
business performance? Need
to prepare realistic budgets
and forecasts? We can work
with you to put together a
robust business plan and
financial model.
Business
review
and planning
six seven
Whatever your requirement for obtaining funds, we are able to provide a systematic approach to raising capital.
Capital RaisingAcquisition & Disposal AdvisoryWhether buying or selling, we have the ability to tap in to our broad and deep network of financial and strategic
investors to match the right partner for the transaction. Our versatility to tailor our advice extends to the type of
transactions that we have experience in.
Size and Type of Companies we work with
Family-run businessesLocal diversified
groups
Acquisition
finance
Asset
finance
Bridge
financing
Corporate
finance
Dividend
recapitalisation
Growth
capital
Partial
exits
Project
finance
Structured
finance
solutions
Working
capital and
trade finance
Subsidiaries of foreign-owned
businesses and multinationals
At the outset, we get an understanding of the optimal capital structure for the business /
project.
This lays the foundation for the type and amount of funding sources that would beconsidered most appropriate and could include any combination of debt, mezzanine finance
and/or equity.
Our team includes a number of experienced bankers which, together with our track record at
Horizon, gives us an edge in crafting bankable proposals for marketing our clients’ fundraising
requirements effectively.
Situations we advise in
• Mergers & acquisitions
• Leveraged / management buy outs
• Divestitures / spin offs
• Joint ventures
• Public private partnerships
Investment companies
including pension funds,
insurance companies and
private equity
Transaction Services
We also offer stand-alone solutions to help transform your business. These include:
Capital and Balance Sheet Restructuring
Balancing the right amount of debt and equity in the business can improve the growth rate, reduce the overall cost
of funding and make the working capital cycle more efficient.
On and off-shore Structuring
For companies looking to expand geographically or setup mergers and/or JVs with third-parties, organising the group
structure can provide tax efficiencies and clean exit mechanisms.
Financial Due Diligence
When deciding to buy a company, we can perform rigorous analysis of the financial state of the target that would
cover quality of earnings to key accounting policies to balance sheet reviews.
If you are considering selling part or whole of your company, we work with you to identify and clean up areas of
concern prior to marketing the business for sale.
Financial Modelling
From cost-benefit analyses to investment appraisals to in-depth business plans, we have the right set of tools to
deliver a customised, user-friendly and fit-for-purpose financial model.
Valuation Analysis
Obtaining an independent third-party opinion on the valuation of a business is advisable in a variety of situations
including transaction negotiations to legal disputes. We overlay our technical skills with commercial knowledge to
provide a range of realistic and fair values for businesses or divisions of a business across all sectors.
eight nine
ten eleven
Sectors we have proven experience in Our experience across the geographies
Real Estate
FMCG
Agriculture
Oil & Gas
Mining
Manufacturing
Power & Infrastructure
Transport & Logistics
Telecoms & media
UgandaAgriculture
Manufacturing
FMCG
Real Estate
Rwanda & BurundiReal Estate
TanzaniaAgriculture
FMCG
Oil & Gas
Real Estate
DemocraticRepublic ofCongoAgriculture
Mining
Real Estate
KenyaAgriculture
FMCG
Manufacturing
Oil & Gas
Power
Real Estate
Technology
Transport
From late 2014, our coverage will include Ethiopia and Zambia.
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Our Networks
Global M&A is one of the world’s leading associations of independent
mid-tier M&A advisory firms with an international presence in over 50
countries. Through this network, we are able to tap into a broad and deep
database of investors and targets and are able to offer an international
presence with local expertise.
The Africa Legal Network is an alliance of 12 of the leading top-tier
law firms across sub-Saharan Africa with affiliates in UAE and South
Africa. We are able to leverage this relationship by developing
common knowledge sharing platforms and enhancing our capability
to service both domestic and international corporate finance work
across the sub-Saharan Africa region.
Our value proposition is
enhanced by the strength and
breadth of our relationships
that includes Global M&A and
the African Legal Network.
“
”
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Meet the team
Charles OmangaManaging Principal
Shanif DewanyManaging Principal
Background: Shanif is a seasoned
investment banker with an established track
record in structuring and advising on complex
M&A transactions and capital raising across
East and sub-Saharan Africa. Before joining
Horizon, Shanif held senior positions in the
Corporate & Investment Banking arms of
Barclays Bank Kenya and Citibank NA mainly
covering Kenya and the East African region.
Academics: Shanif holds an MBA from the
University of Chicago’s Booth School of
Business.
Sector Coverage: Agro-processing, FMCG,
Heavy & Light Manufacturing, Real Estate.
Service Coverage: M&A, Capital Raising,
Capital / Tax Structuring.
Background: Charles is a career corporate
and investment banker with proven
experience and capability in driving businesses’
profitability, executing complex corporate and
project finance transactions across several
multi-national banking institutions. During his
time at Horizon, Charles has executed
transactions in Power, Oil & Gas, Real Estate
and FMCG businesses. Charles has significant
experience in Corporate & Project Finance
having served as Head of Corporate Banking
at CFC Stanbic Bank as well as Head of Public
Sector & Trade Finance Barclays Bank Kenya.
Academics: Charles holds an MBA from the
University of Leicester.
Sector Coverage: All sector coverage.
Service Coverage: Structured Debt &
M&A Advisory.
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Pareet ShahAssociate Principal
Nyokabi ManguyuAssociate Principal
Background: Nyokabi was previously an
Associate with Goldman Sachs in New York
where she worked in a team focused on
valuation, revenue and balance sheet
substantiation and reporting, as well as
accounting policy for private equity.
Academics: Nyokabi graduated magna cum
laude with a BSc. in Applied Economics from
Ithaca College, New York.
Sector Coverage: FMCG, Manufacturing,
Real Estate.
Service Coverage: M&A, Corporate
Finance Advisory, Equity Raising.
Background: Since joining Horizon in 2010,
Pareet has advised clients on the structuring
and execution of complex corporate finance
and project finance transactions. He has also
worked on M&A deals. Prior to Horizon,
Pareet worked within Corporate and
Investment Banking at CfC Stanbic Bank.
Academics: Pareet graduated with a BSc.
(Hons) in Mathematics, Operational Research,
Statistics and Economics (MORSE) from the
University of Warwick and is a member of
ACCA.
Sector Coverage: Agro-processing,
Energy, Manufacturing & Industrials, Mining,
Real Estate.
Service Coverage: Debt Advisory & Re-
structuring, Capital Raising.
Hursh ShahManager
Andrew ThinguriAssociate
Background: Andrew previously worked as
a Research and Corporate Finance Analyst at
Faida Investment Bank. His responsibilities
included conducting investment analysis
on listed instruments and providing
macroeconomic forecasts.
Academics: Andrew has a BA in Economics
and Mathematics from the University of
Nairobi and an MA in Economics from
Kenyatta University. He is also a CFA®
Charterholder.
Sector Coverage: Manufacturing, Logistics,
Oil & Gas, Power, Real Estate.
Service Coverage: Capital Raising,
Valuation Analysis, Corporate Finance, Training.
Background: Hursh was previously a
Manager within Transaction Services at PwC
UK. His deal experience includes buy-side and
sell-side advisory of banking assets across
Europe. He was also responsible for valuing
private equity investments in infrastructure,
manufacturing, oil & gas, real estate and
telecoms across several emerging markets.
Academics: Hursh is a Chartered
Accountant (ICAEW) and has completed
Level II of the CFA® Program. He graduated
with a BSc. (Hons) in Mathematics,
Operational Research, Statistics and
Economics from the University of Warwick.
Sector Coverage: Financial Services,
Manufacturing, Real Estate, Technology.
Service Coverage: Capital Raising, Due
Diligence, Financial Modelling, M&A, Valuation.
Mweso SichaleSenior Analyst
Azra MeraliAnalyst
Background: Before joining Horizon, Azra
worked within a Private Equity Audit role at
KPMG in London. Responsibilities included fair
value and impairment advisory for client
portfolios, across the spectrum of asset class,
including mezzanine loans and equity as well
as advising on new investment and accounting
regulatory impacts.
Academics: Graduated from the London
School of Economics with a BSc (Hons) in
Accounting and Finance. Azra is a Chartered
Accountant (ICAEW).
Sector Coverage: All sector coverage.
Service Coverage: All service coverage.
Background: Before joining Horizon Africa
Capital, Mweso was a Senior Investment
Analyst at Britam Asset Managers. His primary
responsibility was the assessment of real
estate projects through financial modeling and
capital structuring. He also conducted research
on regional macro-economic trends and
covered listed companies within the financial
services sector.
Academics: Mweso graduated with an LLB
(Hons) in Law from the University of Leeds
and has completed Level II of the CFA®
Program.
Sector Coverage: All sector coverage.
Service Coverage: All service coverage.
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GlossaryAcquisition finance Debt funding provided to buyers during a leveraged buy-out
Bridge finance A short-term loan that is used until a company secures permanent financing or
removes an existing obligation
Divestiture The partial or full disposal of assets or a business unit through sale, exchange,
closure or bankruptcy
Dividend recapitalisation A dividend payment to shareholders by raising new debt rather than pay from
retained earnings
FMCG Fast Moving Consumer Goods
Leveraged buy out A transaction where the buyer purchases a company, its assets or a single asset
using significant amounts of borrowed money
Partial exits Payment made to existing shareholders by new investors to sell a part of their
shares while retaining an on-going interest
Spin off The creation of an independent company through the sale or distribution of new
shares of an existing business/division of a parent company
Structured finance Involves complex tailor-made solutions including tax / off-shore structuring for
companies with very unique financing needs
Kenrick KamboAnalyst
Background: Prior to Joining Horizon,
Kenrick worked in the Consulting department
at PKF East Africa as a Corporate Finance
Analyst. His roles and responsibilities included
developing business plans, conducting feasibility
studies, due diligence, financial modelling and
valuation advisory.
Academics: Kenrick has an MSc. in
Accounting and Financial Management from
Henley Business School, The University of
Reading and a BSc. (Hons) in Financial
Mathematics from Coventry University.
Sector Coverage: All sector coverage.
Service Coverage: All service coverage.
Horizon Africa Capital Limited
Apollo Centre, 2nd Floor, Wing A, Ring Road Parklands
P.O. Box 103646 - 00101, Nairobi, Kenya
Tel: +254 (20) 3742614 / 5
www.horizonafrica.com
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