M&A - Creating Opportunities and Building Alliances - PART 1
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Scott Schmidt - Vice President, Strategy & Development, Kiewit
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M&A - Creating Opportunities and Building Alliances - PART 1
- 2. Speaker Bio – Sco- Schmidt • Vice President Strategy & Development, Kiewit Corpora@on – Strategic Planning – Mergers & Acquisi@ons – Treasury • Prior to Kiewit – Commercial Banker – Investment Banker – Private Equity
- 3. Kiewit Overview • $10.3 B revenue in 2014 – 3rd largest contractor in US - ENR • 12,000 staff & 21,000 craft – Over 78 M man-hours • 100% owned by current employees – Approx. 3,200 shareholders • Founded in 1884
- 4. Business Segments: Market Focus MINING MINING BUILDING BUILDING OIL, GAS & CHEMICAL POWER ENERGY WATER/WASTEWATER TRANSPORTATION INFRSTRUCTURE KIEWIT CORPORATION • Air • Bridge • Marine and port facili@es • Rail • Roads • Tunnels • Gas • AQCS • Power delivery • Renewables • Nuclear • Upstream — Offshore • Upstream — Oil sands • Midstream • Downstream • Dam • Desalina@on • Water supply • Wastewater • Commercial • Data center/mission cri@cal • Government • Healthcare • Hospitality • Manufacturing/industrial • Mixed use/retail • Sports and entertainment • Transit facili@es • Contract mining • Mine infrastructure • Mine planning • Ore processing • Owned opera@ons
- 5. M&A Criteria • Core competencies • Culture / core values • Access to new market or geography • Business we know and understand • Create value and build sustainable compe@@ve advantage • Strong management team willing to stay post-‐acquisi@on • Appropriate return on capital
- 6. Acquisi@ons 2007 Trois-‐Rivieres, Quebec Industrial construc@on & maintenance – OGC, power, manufacturing 2008 Steamboat Springs, CO Industrial construc@on – power, process, mining 2010 Eden Prairie, MN Mechanical/Industrial contractor – OGC & power
- 7. Organic • Kiewit Offshore Services Ingleside, TX -‐ 2001 • An@cipated increased drilling ac@vity in GOM & deepwater worldwide • Western Australia -‐ Opened office in Perth in 2009 • Capitalize on increasing demand for commodi@es
- 8. Future Plans • Kiewit Midstream – Design, build, own, operate midstream assets – Acquire exis@ng assets and / or companies • Mexico? Other Geographic Markets? – Opening up of Mexican oil and gas market to foreign and private investment for first @me in 75+ years – How to par@cipate?