Management Consultancy Services - Fortman Cline

AC Health has acquired a majority stake in Cebu Velez General Hospital (CVGH), a 200-bed Level 3 hospital in Cebu City, marking a significant expansion of its nationwide healthcare network.

The deal comes after Singapore-based ABC Impact invested in AC Health, taking a 16% minority stake. With the fresh capital, AC Health plans to expand to at least 10 hospitals, 300 clinics, and 1,150 pharmacies by 2027.

James Velez Ting, assistant administrator of CVGH, said the partnership would strengthen the hospital’s legacy while broadening its reach and capabilities. “Partnering with AC Health allows us to strengthen this legacy while expanding our reach and capabilities,” he said. “We are excited to be part of AC Health’s growing network and to serve our patients and communities in new and meaningful ways.”

CVGH, founded as a small clinic in 1947, has grown into one of Cebu’s most reputable hospitals, known for its roster of medical professionals and commitment to patient care.

AC Health president and CEO Paolo Borromeo highlighted Cebu as a key market and said the acquisition advances the company’s mission of providing integrated healthcare nationwide.

Jimmy Ysmael, CEO of Healthway Medical Network, said the integration would enhance referral systems and access to broader services for patients.

Fortman Cline Capital Markets served as financial advisor to CVGH and its shareholders.

Source: Bilyonaryo

Fortman Cline Capital Markets (FCCM) has been named the “Best M&A Boutique Firm in Southeast Asia” at the Global Brand Frontier Awards 2024 by Boston Brand Research & Media. This follows its recognition last year as the “Best M&A Advisory Team in Southeast Asia” by UK-based Capital Finance Awards. These consecutive wins highlight the firm’s ongoing success in providing top-tier financial advice to conglomerates and entrepreneurs across the region.

The Boston-based Global Brand Frontier Awards celebrate brands that have shown excellence, innovation, leadership, and dedication on a global scale. As a benchmark for international success, these awards spotlight companies that are setting new standards in their respective industries.

This year’s awards saw a competitive field of nominees, with Fortman Cline emerging as the standout in the M&A boutique category for Southeast Asia. Other prominent winners from the region include Krungthai Bank PLC, Alveo Land, and more, showcasing Southeast Asia’s thriving business landscape and commitment to excellence.

Fortman Cline’s back-to-back achievements underscore its unwavering commitment to delivering exceptional M&A solutions and driving transformative business strategies. In addition to last year’s Capital Finance Award, the firm was also recognized in past years as the “Most Innovative Financial Solutions Provider” at the International Finance Awards (2019) and Best M&A Firm in Southeast Asia by Capital Finance, UK (2019).

This latest recognition from the Global Brand Frontier Awards, along with its previous accolades, is a testament to Fortman Cline’s profound influence on the M&A landscape, particularly in the Philippines. The firm has consistently executed high-value transactions that have reshaped critical industries in the country.

FCCM’s deep understanding of the local market enables it to deliver tailored advisory services, facilitating transformative deals that have significantly contributed to the Philippines’ economic progress. As Southeast Asia continues to be a hotspot for investment and growth, the firm remains at the forefront of transformative deals that create value for their clients while contributing to the broader economic development of the region.

In 2023, Fortman Cline launched its Management Consulting arm, Fortman Cline Management Services (FCMS), to provide pre- and post-deal strategic advisory services. Fortman Cline’s role in fostering innovation, sustainability, and economic development affirms its standing as the go-to M&A advisory firm in Southeast Asia.

Fortman Cline is also playing a pivotal role in the consolidation of the logistics, healthcare, and retail sectors, where the integration of offline and online platforms is gaining momentum. The firm also has a strong pipeline of deals in renewable energy and data centers, with more cross-border transactions within the ASEAN region.

Source: Bilyonaryo.com

BOSTON, Aug. 22, 2024 /PRNewswire/ — Fortman Cline Capital Markets has clinched the Best M&A Boutique Firm – Southeast Asia, 2024 award at the Global Brand Frontier Awards 2024 hosted by Boston Brand Research & Media. The recognition underscores the firm’s exceptional ability to deliver innovative and impactful M&A solutions across Southeast Asia. Known for its sharp execution and strategic advisory services, Fortman Cline has established itself as a go-to partner in navigating complex transactions and driving significant value for its diverse client base.

“Fortman Cline Capital Markets exemplifies the qualities we look for in a Global Brand Frontier Award winner,” said Shivakumar Vijay Shankar, President & CEO of Boston Brand Research & Media. “Their dedication to innovation, strategic thinking, and client-centricity sets them apart in the highly competitive M&A landscape. The firm’s ability to consistently deliver transformative solutions, particularly in the fast-evolving Southeast Asian market, speaks volumes about their leadership and expertise. Fortman Cline’s recent achievements not only demonstrate their capacity to handle complex, high-impact transactions but also their vision in shaping the future of the industries they engage with. It is this blend of foresight and execution that makes them truly deserving of the Best M&A Boutique Firm award.”

Mr. Daniel Ibasco, President of Fortman Cline Capital Markets said, “This recognition underscores FCCM’s unwavering commitment to excellence in customer service and our dedication to empowering entrepreneurs. Our advocacy for the entrepreneurial segment of the market, combined with the transformative and impactful nature of our transactions, is a true differentiator for us. We collaborate with industry thought leaders and executives to provide our clients not just with standard financial advice, but with commercial insights that are integral to every strategic deal we undertake.”

He continued, “This year, Fortman Cline has achieved significant milestones, further cementing our position as an industry leader. Notable transactions include raising close to US$100 million in debt and equity for Buskowitz Energy Inc., a leading solar rooftop player in the Philippines, which will transform into a 200MW company within a few years. FCCM is also driving consolidation in the logistics, healthcare, and retail industries, where offline and online platforms are beginning to converge. Additionally, FCCM has been very active in the infrastructure space, recently serving as the financial advisor to San Miguel Holdings Corporation on its successful bid for the 25-year concession contract to rehabilitate and operate the Ninoy Aquino International Airport (NAIA). FCCM also has a significant pipeline of transactions involving renewable energy and hyperscale data centers, and we are beginning to see more cross-border transactions within ASEAN.”

This accolade highlights Fortman Cline’s critical role in the Southeast Asian M&A landscape, where it has consistently leveraged its deep market knowledge, strategic insights, and robust relationships to deliver successful outcomes for clients.

About Fortman Cline Capital Markets (FCCM)

Fortman Cline Capital Markets (FCCM), with offices in Hong Kong, Singapore, and Manila, specializes in providing strategic advisory services to emerging conglomerates and owner-managers across Southeast Asia. With expertise in sectors such as power and energy, healthcare, transport infrastructure, logistics, consumer products, natural resources, and technology, Fortman Cline has closed over US$20 billion in M&A and fundraising transactions. The firm is renowned for its deep industry knowledge, exceptional client service, and cross-border capabilities.

Recently, FCCM established a management consulting arm, Fortman Cline Management Services (FCMS), to offer strategic guidance and industry expertise to clients both pre-and post-transaction. This includes post-integration work after an acquisition and strategic planning.

About Boston Brand Research & Media

Boston Brand Research & Media is a premier global consulting and media organization, renowned for its innovative research and comprehensive branding solutions. The company has also established itself as a leader in delivering insightful news, perspectives, and analyses on brands that are shaping the future of their industries. The organization provides its audience with up-to-date information on the world’s top brands, highlighting those that set the standard in innovation, service excellence, and consumer-centric solutions. Each year, Boston Brand Research & Media honors companies that excel through their visionary leadership, exceptional offerings, and industry-defining innovations, reinforcing its reputation as a trusted authority in recognizing global excellence across diverse sectors.

About the Global Brand Frontier Awards

The Global Brand Frontier Awards, established by Boston Brand Research & Media, recognizes and celebrates the world’s most dynamic brands across various industries. The awards highlight companies that demonstrate extraordinary innovation, leadership, and a commitment to delivering excellence globally. The awards are a benchmark for global success, identifying brands that are setting the standard in their industries.

This year’s awards saw a competitive field of nominees, with Fortman Cline emerging as the standout in the M&A boutique category for Southeast Asia. Other prominent winners from Southeast Asia include Krungthai Bank PLC, Alveo Land, and more, showcasing the region’s thriving business landscape and commitment to excellence.

Fortman Cline Capital Markets (FCCM) was recently named the Best Mergers and Acquisitions (M&A) Boutique Firm in Southeast Asia 2024 by US-based Boston Brand Research & Media.

The Global Brand Frontier (GBF) Awards highlights companies as well as individuals that have shown excellence and innovation while expanding their influence and impact on a global scale.  The GBF Awards are composed of a wide range of categories that showcase the various facets of successful global initiatives, such as cross-cultural engagement, marketing, leadership, innovation, and sustainability and social responsibility. Among this year’s awardees include JPMorgan (Global Banking Leader of the Year), Morgan Stanley (Outstanding Investment Banking Services in North America), and McKinsey & Company (Best in Strategic Business Consulting in the United States).

This recognition highlights FCCM’s unwavering commitment to outstanding customer service and dedication to empowering entrepreneurs by providing strategic advisory services, raising growth capital, or developing strategic partnerships. The award is a testament to the firm’s over 18 years of continued support to firms in the Philippines and in Southeast Asia.

Fortman Cline has developed specialized practices in M&A and management consulting, covering industries such as renewable energy, infrastructure, retail, healthcare, consumer, finance, and logistics.

FCCM advised Buskowitz Energy Inc. in securing a syndicated USD 36 million term loan facility from the Asian Development Bank and Philippine National Bank to fund the solar rooftop pipeline of Buskowitz.

FCCM served as the financial advisor to San Miguel Holdings Corporation on its successful bid for the 25-year concession contract to rehabilitate and operate the Ninoy Aquino International Airport (NAIA).

MANILA, Philippines – Fortman Cline Capital Markets (FCCM) was recently named the Best Mergers and Acquisitions (M&A) Advisory Team in Southeast Asia for 2023 by Capital Finance International (CFI), a premier London-based print journal and online resource for business, economics, and finance.

In recognition of FCCM’s work as a corporate finance advisory and consulting firm, CFI wrote that the firm has “demonstrated a track record on assisting entrepreneurs and family businesses achieve transformational growth via joint ventures, external fund-raising placements, and inorganic acquisitions.”

“In addition, it has assisted a number of entrepreneurs monetize their businesses via strategic transactions with responsible partners that could transform businesses towards a larger scale.

The team has also developed specialized practices in healthcare, consumer businesses, infrastructure, and logistics. It has complemented its workforce with industry professionals,” CFI further said.

The CFI award programme aims to demonstrate “the many ways in which the economies of the world are converging” and the awards are given to individuals and organizations “that truly add value.”

This is the second time that CFI has bestowed the recognition to FCCM. The first time was in 2019. That same year, FCCM was also given the Most Innovative Solutions Provider Award from International Finance, Inc.

FCCM has been ranked as one of the top M&A firms in the Philippines by Bloomberg and in Southeast Asia by Thomson Reuters.

“Having meaningful dialogues with our clients over a company’s lifecycle is very important. This develops customer loyalty, and annuity like revenue streams vis-à-vis a transaction-oriented approach to business,” said FCCM president and co-founder Daniel D. Ibasco.

A History of Successful Transactions

FCCM acted as one of the two financial advisers of Professional Services Inc. (PSI), the company that owns The Medical City (TMC), as it recently sealed the deal with Luxembourg-based CVC Capital Partners. The deal will involve a control entry by CVC over the hospital’s Philippine assets and operations through a combination of convertible notes and secondary share purchases via an ongoing tender offer.

FCCM has also assisted PSI in refinancing US$146 million worth of guaranteed obligations of its subsidiary in Guam with non-recourse long-term debt from a syndicate of South Korean lenders. FCCM has assisted TMC grow into one of the largest healthcare networks in the Philippines through a series of multiple transactions performed for TMC over the last 10 years.

In November 2022, FCCM advised TMC on the issuance of up to Php12.7 billion of convertible notes to Universal Healthcare Services, Pte., Ltd., which is managed by CVC. The move is part of the hospital’s recapitalization program.

“The current industry environment is ripe with opportunity driven by a demand for quality healthcare services, an increase in healthcare spending, and a growing middle class population,” Ibasco said.

Prior to the CVC-TMC deal, FCCM advised Mang Inasal Philippines Inc. on its sale of a 70% stake to Jollibee Foods Corporation, and All First Equity Holdings on its acquisition of a 60% equity
stake in Philippine Geothermal Production Company, Inc. from Chevron Geothermal Philippines Holdings, LLC (USA).

The firm was also the financial advisor of San Miguel Corporation’s acquisition of Citra Tollways’ interest in the Southern Luzon Expressway, the sale of Air 21 Group to AC Logistics Holdings Corporation, the sale of 51% of The Generics Pharmacy to Robinson Retail Holdings, Inc., Bounty Fresh Food Inc.’s US$300 million acquisition of Tegel Foods Ltd. in New Zealand, Fernwood Holdings, Inc.’s acquisition of a 100% stake in Liquigaz Philippine Corporation, and more.

An Experienced Team of Financial and Business Experts

Before founding FCCM along with Gary P. Cheng in 2007, Ibasco headed Asian Capital Markets and Southeast Asian Investment Banking for Bear Stearns and Co. in Singapore and Hong Kong. He has over 30 years of experience in investment banking, debt and equity capital markets, private and venture equity and special situations, specializing in emerging markets and Southeast Asia.

Cheng, on the other hand, is currently the Managing Director of FCCM. He was the president and CEO of Amalgamated Investment Bancorporation and has worked with J.P. Morgan in New York, Hong Kong, and London.

Ibasco and Cheng are joined in the top executive positions by Clarisse T. Tan and Michael C. Tiutan, Executive Directors for the Investment Banking Group. Earlier in the year, FCCM established a management consulting arm, Fortman Cline Management Services (FCMS), which offers strategic guidance and industry expertise pre- and post-M&A to help clients achieve sustainable growth, navigate change, capitalize on new business opportunities, and enhance their competitive position.

Source: Fortman Cline Declared Best M&A Advisory Team in Southeast Asia (bilyonaryo.com)

FCCM acted as co-advisor on the control sale of the Philippine operations of The Medical City to CVC Capital Partners. CVC’s entry will be by way of a tender offer of secondary shares and a recapitalization of The Medical City via the subscription to notes convertible to newly issued shares of Professional Services, Inc. (PSI), the legal entity that owns The Medical City.

Source: The Medical City Poised For Renewed Growth, Welcomes CVC Capital Partners Asia V as New Investor

FCCM assisted GHDI in securing a US$146mm refinancing facility from a syndicate of Korean lenders. The refinancing package allowed GHDI with more term payments and did not require the guarantee of its Philippine parent, Professional Services, Inc. (PSI).

Partly true, of course, but the infrastructure behind the larger banks has pushed fundraising and M&A activity to unprecedented volumes. Apart from market forces, deal velocity has become crucial to cover these overheads — as has the need to report revenue growth quarter-over-quarter.

So, what has happened to the quality of deals on a post-transaction basis? Have some prospered? Was value really created years after a deal had been done?

Fortman Cline Capital Markets Ltd (FCCM), a boutique advisory firm covering Southeast Asia, has decided to pursue a low-volume, high-margin approach.

It has established a management consultancy to help clients prepare for sale or assist clients with integration and strategy implementation once a deal is consummated. In other cases, it has advised clients on strategy and internal restructuring before a sale is finalized. Engaging industry professionals in key verticals such as healthcare, consumer businesses, and infrastructure services has allowed FCCM to perform well in a very competitive environment. It highlighted the firm’s strategic and commercial expertise and took it far beyond the role of ordinary financial advisors.

It has established a management consultancy to help clients prepare for sale or assist clients with integration and strategy implementation once a deal is consummated. In other cases, it has advised clients on strategy and internal restructuring before a sale is finalized. Engaging industry professionals in key verticals such as healthcare, consumer businesses, and infrastructure services has allowed FCCM to perform well in a very competitive environment. It highlighted the firm’s strategic and commercial expertise and took it far beyond the role of ordinary financial advisors.

“Having meaningful dialogues with clients over a company’s lifecycle is very important,” says Daniel Ibasco, FCCM’s CEO and co-founder. “This develops customer loyalty, and annuity-like revenue streams vis-à-vis a transaction-oriented approach to business.” Taking a holistic approach to clients’ individual situations has improved the quality of deal execution. A focused strategy on these verticals also creates discipline and focus for originating business.

Ibasco says we need to understand “the ecosystem, the key players, (and) the unmet nets in the sector” when originating transactions or mandates.

This article appeared on cfi.co Summer 2023 edition.