Reprinted with permission.
Guest lecture Operational Turnaround –Focus on Working Capital and Supply Chain by Igor Zax CFA, founder of Tenzor Ltd as part of a course “Mergers, MBOs and Other Corporate Reorganisations” by professor Paolo Volpin at London Business School 23 March 2012.
The lecture covers principles of distressed investments, corporate turnaround and operational due diligence. It also focuses on supply chain and working capital implications, use of asset backed lending, vertical integration and business model re-design.
Slides for the presentation can be seen by clicking the link below:
Operational Turnaround –Focus on Working Capital and Supply Chain
The article focuses on both buyer-centric and seller centric (such as distribution finance) models from risk, route to market, impact on the supply chain structure and systems/process points of view.
Igor Zax, founder of Tenzor Ltd, delivered a masterclass on “Special Situations and Distress-Driven M&A:What Does it Take to Conduct a Successful Accelerated M&A Process” 28 September 2011 in Moscow, as part of C5 conference on M&A in Russia and CIS.
The masterclass was attended by senior M&A professionals of major Russian and CIS banks and industrial groups.
For link to English version of the presentation please click the title above.
Igor Zax, CFA founder of Tenzor Ltd, presented a guest lecture Operational Due Diligence -Key to M&A Success as part of a course “Mergers, MBOs and Other Corporate Reorganisations” by professor Paolo Volpin at London Business School 11 June 2011.
This interactive working session will identify core issues that an
investor in a distressed company has to deal with at every stage:
pre-transaction, during deal structuring and post deal. Attendees
will receive ‘nuts & bolts’ guidance on strategic and operational aspects of distressed M&A deals, an analysis of the different objectives and approaches of participants (banks, private equity houses, corporate buyers and sellers, hedge
funds, etc.). The workshop is specifically designed to help you navigate the maze of operational due diligence, turnaround and exit strategies for distressed investments.
• Types of and reasons for distressed investment
• Practical techniques of operational due diligence
for distressed investments and their importance
• Pricing and evaluating distressed companies and their assets
• Capitalising on discounted price offerings
• Practical considerations in distressed M&A deal structuring
Supply Chain Finance- is there mid-market opportunity for factors? -new article published be Igor Zax, in BCR Factorscan.
Opportunities in Supply Chain Finance for mid market sector, roots to market (both buyer centric and seller driven) and the role that factoring companies can play in this segment.
The article discussed the nature of trade receivables risks, its difference from other type of credit risk, its relationship to corporate strategy and approaches to design of optimal credit policy.
Igor Zax, Managing Director of Tenzor ltd., presented at a panel on Corporate turnaround and stakeholder management strategies at European Investment in Distressed Debt Forum in London 27-th October 2010
While actual presentation was in a form of live discussion between Igor Zax and Warwick Ley, partner of Endless LLP without slides (that was a preference of both panellists), Igor Zax slides prepared for the presentation are avalible here: Corporate Turnaround –thinking beyond capital structures
Igor Zax, founder and MD of Tenzor Ltd, presented onValuations – Practical Questions for PE Investor and moderated a panel at a conference “Private Equity in Central and Eastern Europe”, London, 15 October 2010, organised by C5. The presenation focuses on shortcomings of traditional valuation techniques, exit strategies, criteria and motivations of investors.