Auctus Industries

TERRY TWIGGER VALERIO MASSIMO di ROCCASECCA BRIAN WILLIAMS EDWARD SPENCER CHURCHILL KONSTANTIN SIVOKHIN CHLOE METSON ALEKSANDRA MYŚLIWIEC

TERRY TWIGGER

Chairman & Co‐Founder
Location: London

Terry Twigger joined Meggitt plc in 1993, becoming CFO in 1995 and held the position of Chief Executive Officer of Meggitt plc from 2001 through to 1 May 2013. During that period, revenues grew from approximately £400 million to approximately £1.6 billion, representing a compound annual growth rate (CAGR) of 12.6% and net income during the same period grew from approximately £30 million to approximately £240 million (a CAGR of 19.7%).

The market capitalisation of Meggitt plc grew from approximately £600 million in January 2001 to approximately £4 billion in May 2013 (a CAGR of 20.1%) and earnings per share grew from 11.9 pence to 31.1 pence (a CAGR of 9.1%), with Meggitt plc entering the FTSE 100 in October 2011. During the same period, the share price for Meggitt plc outperformed the FTSE All Share Index by 100.6% and a consistent dividend policy was maintained throughout.

Terry presided over numerous small and a number of major successful acquisitions in Europe and the US during his tenure as CEO, including the acquisition of Dunlop Standard Aerospace Group in 2004 for £417 million, the acquisition of K&F Industries Holdings for £912 million in 2007 and the acquisition of Pacific Science Aerospace for approximately £429 million in 2011.

Terry co‐led the acquisition of Shimtech and is Chairman.

Terry co‐founded Auctus Industries with Valerio Massimo di Roccasecca and Edward Spencer Churchill in 2013

Terry is a Chartered Accountant and obtained a 2:1 in Economics and Accountancy from Bristol University.

Contact Terry: tt@auctusindustries.com

VALERIO MASSIMO di ROCCASECCA

Co‐Founder
Location: London & Los Angeles

Valerio is an experienced private equity executive with significant transaction and aerospace sector experience.

He started his career at McKinsey & Co in 1997 before leaving to join eVentures (where he was a Principal) and then Reed Elsevier Ventures (where he was a Founding Partner with Diana Noble), both late stage growth venture capital firms. Valerio then moved into buyouts in 2002 and in 2004 to Cinven, the pan‐European buyout firm.

Valerio has completed a number of deals across a range of sectors, including consumer, media, healthcare and industrials and key deals include Pizza Express/Ask Central (c. £500 million EV, 77.5% IRR, 6x MM), Eutelsat (€4 billion EV, 100% IRR, 4x MM), Smurfit‐Kappa merger (c. €5 billion EV), and Avio (€2.57 billion EV, over €1 billion capital gain with a further €300 ‐ 400 million to be realised from the sale of Avio's Space business unit).

Avio SpA is Italy's second largest aerospace company and Valerio co‐led its acquisition for Cinven in 2006 from Carlyle and he has been involved in the aerospace sector since 2005. He led the development of the original Avio investment thesis, managed the overall due diligence process, and co‐led negotiations to acquire the business. He was involved in a wide range of areas such as the implementation of a firm‐wide operational efficiency programme, strategy reviews, liaising with LPs, debt holder and equity investors, changes to management reporting, budgeting, and 5‐year planning. Valerio served on Avio's main Board from 2006 to 2010. Avio's EBITDA grew from €275 million at the time of the deal in 2006, to over €430 million when it as sold to General Electric in 2012, and €460m in 2013.

Valerio co‐founded SCM Capital Partners with Edward Spencer Churchill in 2011 and Auctus Industries in 2013.

Valerio sourced Shimtech, co‐led the acquisition in a proprietary/bilateral 'off market' transaction, and sits on its Board of Directors.

Valerio was educated at King's College, Cambridge University where he received an MA Starred First in Social and Political Sciences in 1996, and at the London School of Economics, where he received an MSc with High Distinction in the History of International Relations in 1997.

Contact Valerio: vm@auctusindustries.com

BRIAN WILLIAMS

Partner
Location: Los Angeles

Brian Williams is an experienced aerospace executive with over 35 years in the aerospace industry.

Brian joined Hughes Aircraft in 1991, becoming Director of the Traveling Wave Tube Amplifier product line in 1994. During that period, Brian pioneered cellular manufacturing and led business development efforts that established significant backlog and tripled product line revenue. After Boeing acquired Hughes in 2000, Brian became the Director of Satellite Payload Electronics, where he turned around a troubled unit and led technology and product development efforts that leapfrogged competition and achieved a sustainable competitive advantage.

In 2006, Brian became President and CEO of Arrowhead Products (aerospace ducting and air management systems) where he brought in significant new aircraft development programs and grew company revenue and profitability by almost 70% during his tenure.

In 2012, Brian joined American Industrial Partners (AIP) as CEO of AIP Aerospace and acquired a group of 2 composite manufacturers and 3 tooling companies via carve‐out from a UK public company. He developed the aerospace composite business through significant backlog expansion in U.S. and Europe, deeper penetration into the ceramic matrix composites niche, operational efficiency improvements, facility expansion and talent upgrades. The business was sold to PCC in 2015, resulting in a double‐digit MOIC. Brian re‐branded the aerospace tooling companies (formerly competitors) as Ascent Aerospace and merged them using common manufacturing and business processes, strong financial incentives, leadership development, and smart bidding and capacity management strategies. He added automation and integration capability to Ascent through a number of greenfield start‐ups and key acquisitions in Seattle, Michigan, France, Spain, Germany and the UK. As a result, transformed Ascent from a US‐focused tooling‐only business (short backlog/capital intensive) into a global provider of assembly‐line integration services and automation products with highly differentiated tooling capabilities that advantage the integration business. Under Brian's leadership, Ascent's EBITDA grew by 5 times.

Brian joined Auctus in 2017 and is based in Southern California.

Brian has a Bachelor Degree in Mechanical Engineering and an MBA from Brigham Young University.

Contact Brian: bw@auctusindustries.com

EDWARD SPENCER CHURCHILL

Co‐Founder
Location: London

Edward is a serial entrepreneur with significant transaction and operating experience.

He started his career at Bain & Company before leaving to join Punch Taverns as Group Commercial Director. At Punch, Edward was one of 6 executive directors who grew Punch from 1,500 pubs to almost 7,000 pubs when he stepped down as an executive in early 2002. Responsible for IT, regulatory, gaming, marketing and supply chain. During his tenure he reduced the size of his departments by about 50% significantly reducing overheads and improving effectiveness. He also oversaw renegotiation of supply contracts saving the company over £50 million per annum.

In 2002, he co‐founded Sun Capital Partners with Hugh Osmond and others. The Sun team has generated an IRR of over 60% on their investments. At Sun, Edward co‐led the acquisition of CenterParcs properties for £480 million in 2002, which was sold to RBS for over £800 million in 2006. He also led the internal review process at Pearl which resulted in the £486 million outsourcing deal to Tata Consultancy Services in 2005 as well as the overhead and cost reduction programme when Pearl acquired Resolution in 2007/8. In addition, he sourced and led the £500 million reverse of Pearl Group into Liberty, a €600 million cash shell in 2009.

Edward is an investor / founder in a number of smaller companies, co‐founded SCM Capital Partners with Valerio Massimo di Roccasecca in 2011 and Auctus Industries in 2013.

Edward played a key role in the acquisition of Shimtech and sits on its Board of Directors.

Edward was educated at Pembroke College, Cambridge University where he graduated with an MA in Economics in 1996.

Email Edward: esc@auctusindustries.com

KONSTANTIN SIVOKHIN

Principal
Location: London

Konstantin is a private equity professional with significant transaction experience.

He started his career in 2004 in KPMG where he worked initially in audit and then in transaction services. He performed buy‐side and sell‐side due diligence on numerous deals in the financial, industrial and business services sectors in the UK and continental Europe.

After KPMG, Konstantin spent 3 years in the investment banking division of RBC Capital Markets in London. He worked on a number of M&A and equity capital markets deals in Europe and the US. The IPO of ING US (c. $6bn) was one of his key transactions.

Konstantin joined Auctus shortly after its founding and played a key role in the acquisition of Shimtech.

Konstantin was educated at International Christian University in Kiev, Ukraine where he received a Bachelor of Business Administration degree in 2004. He is also a fellow member of the ACCA.

Contact Konstantin: ks@auctusindustries.com

CHLOE METSON

Executive Assistant
Location: London

Chloe joined Auctus in December 2015 after spending 2 years at Morgan Stanley, where she was Personal Assistant to 3 Managing Directors, including the Global Head of E-Commerce and Head of Institutional Sales.

Prior to that Chloe held a number of other support and administrative roles and has an Executive Assistant qualification from Quest Professional.

Contact Chloe: chloe.metson@auctusindustries.com

ALEKSANDRA MYŚLIWIEC

Research analyst
Location: London

Aleksandra joined Auctus in August 2017 after studying Law at the London School of Economics. Her previous experience includes covering syndicated loans for Thomson Reuters, research for St. James’s Place Wealth Management and Mizuho International.