Why Ten Oaks Group Providing flexibility, speed and certainty for corporate sellers Ten Oaks was born out of the frustration of the antiquated and monolithic approach to corporate carve-outs. Mike Hahn and Matt Magan, from different backgrounds had both seen the following common issues of corporate carve-outs and formed Ten Oaks to provide the flexibility, speed and certainty that corporate sellers are looking for in a transaction partner. Antiquated Buyer Approach Ten Oaks Approach BAD ACTORS Buyers who agree to various deal points with the intention of proposing adjustments usually during elongated exclusivity periods TRUSTED PARTNER Ten Oaks puts forth bid proposals with terms that we can execute upon, not just attractive terms that look good and get us to the next stage LENGTHY DILIGENCE AND CLOSE PROCESS Longer than six-month timeline to get from LOI to close with a “bottom of the barrel” approach that turns over every stone HIGHLY EXPEDITED AND TARGETED 30-day closing timeline with a sole focus on critical path diligence items reduces the pre-closing burden on corporate seller FULSOME REPS AND WARRANTIES Require fulsome list of representations and warranties, potentially exposing corporate seller to large liabilities over lengthy time periods LIMITED REPS AND WARRANTIES Very targeted and bounded indemnification provisions, generally just focused on core fundamental indemnification COOKIE CUTTER APPROACH Most buyers have raised a fund and have committed to LPs a narrow investment mandate PERSONALIZED APPROACH Our first step in the transaction process is to understand what an ideal outcome looks like for our corporate seller transaction partner, and then build a bespoke approach to the transaction structure accordingly LACK OF CARVE-OUT EXPERIENCE Most buyers focus on acquiring standalone businesses with limited corporate carve-out experience EXPERIENCED ACROSS ALL FUNCTIONAL AREAS We solely focus on corporate carve-outs and have equity partnerships with our advisors and third-party providers across each separation and operational functional area SLOW DECISION MAKING Most buyers convene Investment Committee weekly, so when new information is learned, a common theme across most carve-out processes, buyers are extremely slow to respond RESPONSIVE DECISION MAKING Our founders have 100% discretion over our investments, so we can react to new information in hours, rather than weeks or months FIXED MINDSET Buyers simply focused on expense levers, mainly human capital oriented as the path to investment realization GROWTH MINDSET Through our sales operating partner and sales re-hydration strategy, we invest in revenue drivers as opposed to a sole focus on cost levers We are extremely proud of our group and our approach and are happy to provide references upon request that can speak to our prior transactions. © Copyright 2021, Ten Oaks Group. All Rights Reserved. Contact Us: info@tenoaksgroup.com