TZL 1229

BUSINESS NEWS JACOBS NAMED LEAD ARCHITECT FOR MAJOR REDEVELOPMENT OF SYDNEY’S CONCORD HOSPITAL Jacobs Engineering Group Inc. has been appointed by New South Wales Health Infrastructure as lead architect for the $270 million redevelopment of Sydney’s Concord Hospital. The redevelopment will involve the delivery of a new comprehensive cancer center, additional inpatient capacity, enhanced ambulatory care services, and Australia’s first comprehensive care center for retired service men, women, and their families – the Rusty Priest Centre for Rehabilitation and Aged Care. “This win reinforces our global reputation as a leader in healthcare facility design,” said Jacobs Buildings and Infrastructure Asia Pacific Senior Vice President Patrick Hill. “Concord has a long history of caring for veterans and their families, and we look forward to leveraging our health infrastructure knowledge in developing a facility that acknowledges their contribution and provides the patient care they need.” This facility will provide specialist services including substance and alcohol abuse programs, and services for mild traumatic

brain injury, specialist pain management, psychological well-being, rehabilitation, and family support. Jacobs was previously selected by New South Wales Health Infrastructure to carry out all the architectural work for Sydney’s Blacktown Hospital, which received three awards at the 2017 Design & Health International Academy Awards, including the prize for Best International Health Project Under 40,000 Square Meters. Jacobs is one of the world’s largest and most diverse providers of full-spectrum technical, professional and construction services for industrial, commercial and government organizations globally. The company employs over 54,000 people and operates in more than 25 countries around the world. KBR AWARDED PROJECT MANAGEMENT SERVICES CONTRACT FOR AUSTRALIA’S LARGEST UNDEVELOPED COPPER PROJECT KBR, Inc. announced it has been awarded a contract by OZ Minerals for project management services for the development of its Carrapateena copper-gold project located in South Australia. Under the contract, KBR will provide professional services for the execution phase

of the project as part of an integrated project team. KBR had previously been supporting OZ Minerals to finalize its early contractor involvement strategy and associated feasibility study activities. “We are excited to be working with OZ Minerals on the Carrapateena mine development to progress Australia’s largest undeveloped copper project,” said Greg Conlon, president Asia Pacific. “With an operating life of at least 20 years, Carrapateena represents a major growth opportunity for South Australia with around 1,000 jobs created from construction through to production and longer term business and employment opportunities for communities in the region.” “KBR brings decades of global project management experience to Carrapateena and we look forward to continuing our involvement in this landmark project,” added Conlon. Expected revenue from the contract will be included in KBR’s fourth quarter 2017 backlog of unfilled orders for its engineering and construction business line.

NOAH HUNT, from page 9

With a carefully crafted CIM, you can accomplish the equivalent of these conference calls, phone calls, and emails with one document. Once a prospective buyer reviews the CIM, they can quickly determine if they want to pass or move to the next stage in the deal process. Buyers will always want to speak with firm management over the phone, visit the firm in-person, meet the team, and tour facilities to get a clear picture of the firm. But the CIM should set the tone for all discussions and set expectations for the transition. Areas that should be discussed in detail include: ❚ ❚ Client diversification ❚ ❚ Ability and plan to achieve future projections ❚ ❚ Future growth opportunities ❚ ❚ Strength of management team ❚ ❚ Scalability of operations It is hard to believe, but I know plenty of business brokers who think that a CIM is too much work or that less information to the buyers is best. In my opinion, selling a firm without a CIM is a formula for frustration and, most likely, failure. Business brokers who rush to market and skip such a vital step will probably disappoint their clients. If you are considering selling your firm, I urge you to hire an M&A advisor who will invest the time to present your firm in a professional manner which you and your shareholders deserve. NOAH HUNT is a consultant with Zweig Group’s merger and acquisition services. Contact him at nhunt@zweiggroup.com or at 479.856.6244

❚ ❚ Professional services/capabilities and sample projects ❚ ❚ Management team structure ❚ ❚ Growth opportunities ❚ ❚ Competitive landscape or industry outlook ❚ ❚ High-level financials (five years of historical data and projec- tions, if available) “The CIM is one of the most important documents prepared in the sales process, because it explains the intricacies of the firm being sold and provides a prospective buyer with the necessary information to generate an initial offer. This is different from a ‘teaser’ because it contains detailed confidential information.” Apart from initial screening, a carefully prepared CIM will save you time in a number of ways. Imagine you approach 30 targeted potential buyers. Fifteen of the buyers express a preliminary level of interest, sign an NDA, and request additional information. Without having a prepared CIM, the next step would include participating in 15 separate conference calls, in which you would certainly need to answer the exact same questions again and again. The conference calls would lead to more one-off phone calls and emails leading to lost time and more costs for your firm.

THE ZWEIG LETTER January 1, 2018, ISSUE 1229

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