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What positions/jobs helped prepare you for your current role as the GC of the BELFOR USA Group? On one hand, all of my prior jobs prepared me, but on the other hand, none of my jobs prepared me for this role. Working in a law firm helped me build solid legal knowledge, skills, and mentorship, while subsequent in-house roles allowed me to expand on those skills and work directly with business teams. However, BELFOR is a truly unique company. These experiences, while valuable, did not fully prepare me for the role of general counsel of the largest disaster recovery and property restoration company in the United States. How have you changed/grown since you took over the role of GC? In addition to experiencing tremendous personal growth, I have learned that it is not about me – it is about my team. I built our team in the legal department from the ground up. The success of my department rises and falls with my team members. Each team member's growth is vital, and I believe it to be my responsibility to ensure they develop and establish personal relationships not only within the legal department, but also within BELFOR's extended network. When building the team, it took me some time to figure out the right mix of legal skills needed to address BELFOR's legal needs. I am proud to say that we have an incredible group of people who are committed to each other and to BELFOR's mission. What are the personality/character traits that have contributed the most to your success? I would say (1) discipline, (2) creative thinking, (3) confident decision-making, and (4) effective delegating. I didn't always have these qualities; these are areas I have slowly built and worked on over the years to develop. What is the best part of your job? My team. We have built a tremendous team, and I am so proud of them. Everyone shows up and contributes. Our legal department is highly regarded at BELFOR because we are truly about teamwork – we all help each other and pitch in. What part(s) of your job is/are the most difficult or challenging? My biggest challenges are (1) delivering results and meeting demands with the resources I've been given and (2) helping team members get comfortable working within our existing framework without becoming overwhelmed or overcome by certain situations or limitations that are outside of our control. What qualities/attributes do you look for when hiring in-house counsel for your team? Outside counsel? My hiring criteria have changed over time. With a core contracts and core litigation team, I specifically look for great communication skills, creative thinking, good judgment, a basic knowledge of the law, strong work ethic, and the ability to work independently. What is one thing you can't live without? My husband and my three children. How do you clear your mind/unwind after a bad/difficult day? If I've had a hard day, I may go for a bike ride with my family or sit on the porch in a rocking chair and relax.

Q&A with Rachel Manos, General Counsel, BELFOR USA GROUP, Inc.

La firma española de capital riesgo (private equity) Portobello Capital , ha adquirido una participación mayoritaria en USA Group , compañía familiar industrial de nicho dedicada a la fabricación de piezas metálicas de precisión principalmente para el sector de la automoción. En la operación ha participado también la sociedad de capital privado vasco Easo Ventures . USA Group, con sede en Mallabia (Vizcaya) diseña, fabrica y comercializa pequeñas piezas metálicas de precisión principalmente para el sector de la automoción, donde la Compañía es proveedor Tier 2 y Tier 3. En concreto, la Compañía está especializada en piezas relacionadas con sistemas de seguridad y control, mayoritariamente sensores para diversas aplicaciones en vehículos. Tras la adquisición, Portobello Capital ostentará una participación mayoritaria en la Compañía. Mikel Uribe, su Director General, mantiene su participación en la compañía y entran como minoritarios Easo Ventures y otros socios. De la mano de Portobello Capital y sus coinversores, USA Group, apuesta por su actual gestión, y tiene previsto potenciar el desarrollo internacional, impulsar fuertemente la actividad comercial e incrementar el nivel de inversión en capacidad productiva. Todo ello, sobre una organización fuertemente consolidada gracias a la labor realizada en los últimos años, tanto por los antiguos accionistas, como por Mikel Uribe, con más de 15 años de trayectoria en la compañía. an Luis Ramírez, Socio de Portobello Capital, declaró: “Estamos encantados de entrar en una compañía industrial de nicho con la calidad de diseño, ingeniería y producto de USA Group. Vemos mucho valor en la compañía, así como gran potencial de crecimiento orgánico, impulsando la actividad comercial, e inorgánico, con oportunidades muy interesantes para consolidar el mercado”. Mikel Uribe, Director General de USA Group, comentó: “Incorporar a Portobello Capital y sus coinversores, en este momento de la organización, nos refuerza y ayuda a afrontar los retos y oportunidades que nos presentan nuestros clientes y mercados”. Pedro Muñoz-Baroja, Director de Easo Ventures, declaró: “USA Group es un claro ejemplo de empresa industrial vasca, con un alto nivel tecnológico y de calidad, gestionada de una manera eficiente y con un claro potencial de crecimiento. Esta operación va a permitir a la empresa abordar un proceso de crecimiento global que permita su consolidación en el territorio. Desde el inicio consideramos que Portobello es el socio ideal para acometer este reto”. Acerca de Portobello Capital
Fundada en 2010, Portobello Capital es una de las principales gestoras independientes de capital privado del middle market con inversiones en el sur de Europa y sede en España. Cuenta con 1.300 millones de euros de activos gestionados, un equipo de veintisiete profesionales y dieciséis empresas en su cartera. Portobello Capital gestiona dos fondos primarios. El Fondo III se cerró en 375 millones de euros en agosto de 2014 y está totalmente invertido, mientras que el Fondo IV de 600 millones de euros se cerró en febrero de 2018 y se encuentra actualmente en fase de inversión. Portobello Capital también gestiona un vehículo secundario de 300 millones de euros. En paralelo, Portobello Capital se encuentra en proceso de fundraising para su primer fondo especializado en partnerships estructurados y minorías, con el objetivo de recaudar compromisos por valor de hasta 300 millones de euros. Asesores y financiación
Portobello Capital ha sido asesorada en esta operación por Norgestión (asesor de M&A), EY (due diligence), Arthur D. Little (estrategia y mercado) y King & Wood Mallesons (asesor legal). Los vendedores han sido asesorados por Alantra (asesor de M&A), Deloitte (due diligence) y BSK Legal & Fiscal (asesor legal). La operación ha sido financiada por el Banco Santander.

Portobello Capital compra el fabricante vasco USA Group. Participa también Easo Ventures

Portobello Capital compra el fabricante vasco USA Group
Inversores de Capital Riesgo en sector Automoción, Industria y Robótica
La firma española de capital privado ha adquirido una participación mayoritaria en USA Group, compañía familiar industrial de nicho dedicada a la fabricación de piezas metálicas de precisión principalmente para el sector de la automoción. En la operación ha participado también la sociedad de capital privado vasco Easo Ventures. USA Group, con sede en Mallabia (Vizcaya) diseña, fabrica y comercializa pequeñas piezas metálicas de precisión principalmente para el sector de la automoción, donde la Compañía es proveedor Tier 2 y Tier 3. En concreto, la Compañía está especializada en piezas relacionadas con sistemas de seguridad y control, mayoritariamente sensores para diversas aplicaciones en vehículos. Tras la adquisición, Portobello Capital ostentará una participación mayoritaria en la Compañía. Mikel Uribe, su Director General, mantiene su participación en la compañía y entran como minoritarios Easo Ventures y otros socios. De la mano de Portobello Capital y sus coinversores, USA Group, apuesta por su actual gestión, y tiene previsto potenciar el desarrollo internacional, impulsar fuertemente la actividad comercial e incrementar el nivel de inversión en capacidad productiva. Todo ello, sobre una organización fuertemente consolidada gracias a la labor realizada en los últimos años, tanto por los antiguos accionistas, como por Mikel Uribe, con más de 15 años de trayectoria en la compañía. Juan Luis Ramírez, Socio de Portobello Capital, declaró: “Estamos encantados de entrar en una compañía industrial de nicho con la calidad de diseño, ingeniería y producto de USA Group. Vemos mucho valor en la compañía, así como gran potencial de crecimiento orgánico, impulsando la actividad comercial, e inorgánico, con oportunidades muy interesantes para consolidar el mercado”. Mikel Uribe, Director General de USA Group, comentó: “Incorporar a Portobello Capital y sus coinversores, en este momento de la organización, nos refuerza y ayuda a afrontar los retos y oportunidades que nos presentan nuestros clientes y mercados”. Pedro Muñoz-Baroja, Director de Easo Ventures, declaró: “USA Group es un claro ejemplo de empresa industrial vasca, con un alto nivel tecnológico y de calidad, gestionada de una manera eficiente y con un claro potencial de crecimiento. Esta operación va a permitir a la empresa abordar un proceso de crecimiento global que permita su consolidación en el territorio. Desde el inicio consideramos que Portobello es el socio ideal para acometer este reto”. Acerca de Portobello Capital
Fundada en 2010, Portobello Capital es una de las principales gestoras independientes de capital privado del middle market con inversiones en el sur de Europa y sede en España. Cuenta con 1.300 millones de euros de activos gestionados, un equipo de veintisiete profesionales y dieciséis empresas en su cartera. Portobello Capital gestiona dos fondos primarios. El Fondo III se cerró en 375 millones de euros en agosto de 2014 y está totalmente invertido, mientras que el Fondo IV de 600 millones de euros se cerró en febrero de 2018 y se encuentra actualmente en fase de inversión. Portobello Capital también gestiona un vehículo secundario de 300 millones de euros. En paralelo, Portobello Capital se encuentra en proceso de fundraising para su primer fondo especializado en partnerships estructurados y minorías, con el objetivo de recaudar compromisos por valor de hasta 300 millones de euros. Asesores y financiación
Portobello Capital ha sido asesorada en esta operación por Norgestión (asesor de M&A), EY (due diligence), Arthur D. Little (estrategia y mercado) y King & Wood Mallesons (asesor legal). Los vendedores han sido asesorados por Alantra (asesor de M&A), Deloitte (due diligence) y BSK Legal & Fiscal (asesor legal). La operación ha sido financiada por el Banco Santander.

Portobello Capital compra el fabricante vasco USA Group

Sallie Mae to Acquire Student-Loan Rival
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June 16, 2000
Sallie Mae, the giant Reston-based student-loan and education-finance company, said yesterday that it has agreed to buy one of the largest independent players in the student-loan industry, the nonprofit USA Group, for $770 million in stock and cash. The deal brings Sallie Mae close to the complete vertical integration of student-loan services its management has sought since the company agreed in the late 1990s to surrender its federal charter and become a fully private company. The company will be able to fund the original loan, process the paperwork, hold the loan itself or turn it into a security, and "service" it, meaning collect the payments from borrowers. It will also be able to provide loan guarantee services, which include such things as working with troubled borrowers to head off default. Sallie Mae had already acquired or developed the capacity to do most of those things, but the addition of Indianapolis-based USA Group's guarantee services adds one of the final pieces to the puzzle, officials said. Since USA Group is a nonprofit company, Sallie Mae's payment will go to the USA Group Foundation, which funds research, scholarships and education-related philanthropy. Much of USA Group's approximately $450 million in annual revenue comes from fees, so the merger will lessen Sallie Mae's dependence on interest income. Such income is a function of the difference between the rates at which Sallie Mae can borrow money and the rates it can obtain on student loans. Those "spreads" come under heavy pressure periodically, though the company reported $500 million in profits last year. "It would be very difficult to overstate the significance of this transaction" to the company, its shareholders and clientele, Albert L. Lord, chief executive of Sallie Mae, said in a call with analysts and reporters. "I view this transaction as virtually a perfect match. It completes the Sallie Mae product picture. It completes our transition from solely a secondary market to a complete provider of educational financial services," Lord said. The merged company will change its name from SLM Holding Corp. to USA Education Inc. and its headquarters will remain in Reston, while its operations will be centered in Indianapolis, Lord said. Officials said the company will continue to be referred to as Sallie Mae. Sallie Mae will acquire all of USA Group except its guarantee agency, an entity that reviews and guarantees federally insured student loans and that by statute must remain separate from the lenders. The guarantee agency provides financial backing for the government loan program; the guarantee services acquired by Sallie Mae are back-office and loan-counseling operations for guarantee agencies. The deal will result in a company with some 6,500 employees and about $1.4 billion in annual revenue. Officials said there will be some reductions in the staff to eliminate overlaps but said they hoped to accomplish much of that through attrition. Lord and USA Group chief executive James C. Lintzenich said the merger of their organizations will benefit students by making delivery loans through their schools as "seamless" as possible. Since loan rates are set by a statutory formula, consolidation will not affect costs to students. But some critics would like students to have more of a say in who owns and services their loan when they leave school. Today lenders compete to get on individual schools' lists of preferred lenders but then can sell the loan to whomever they wish. "There's not enough consumer choice in the student-loan program anyway," said Ivan Frishberg of U.S. Public Interest Research Group, an advocacy organization. Competitors, especially smaller banks, complain that they are being squeezed out of the student-lending business. On one side, the government itself has been making loans since the mid-'90s; on the other side, giants like Sallie Mae and some large banks dominate the market for government-guaranteed private loans. Lord shrugged off those complaints. "Like every other industry, this industry is highly competitive, with narrower and narrower margins, and is to some extent Darwinian. The strong will survive, and to some extent this transaction reflects that," he said. The deal is indicative of trends in the national economy. First, in student lending, as in financial services generally, a wave of consolidation is underway. Large lenders that can afford technology to process and service large numbers of loans efficiently are able to profit even on thin margins. Second, in the era of size, many nonprofit entities are finding it difficult to compete. This is particularly visible in health care, as nonprofit hospitals sell out to for-profit companies. Federal tax law requires that proceeds from such sales be channeled back into the community--in exchange for the establishments going untaxed in the past. That has resulted in the establishment of a new wave of foundations. The deal is Sallie Mae's third and largest acquisition in the past year. In May 1999 it bought Nellie Mae, a New England student financial-services firm, for $320 million. Last month it bought Cincinnati-based Student Loan Funding Resources Inc. for $117.3 million. Both were all-cash deals.

Sallie Mae to Acquire Student-Loan Rival - The Washington Post

Hawaiian Dredging Construction Company
With our legacy dating back to 1902, Hawaiian Dredging Construction Company, Inc. (Hawaiian Dredging) has played an integral role in building the face of Hawaii. Starting with our humble beginnings in dredging Pearl Harbor’s main channel, and constructing the Ala Wai Canal to enable the development of one of the world’s most well-known tourist destinations, Waikiki, Hawaiian Dredging is truly a part of Hawaii history. Hawaiian Dredging is also among the state’s most diversified general contractors comprising five major divisions:  1) Building, 2) Commercial, 3) Heavy Civil, 4) Power & Industrial, and 5) Waterfront & Foundation. With our diverse and collective experience, resources and expertise, Hawaiian Dredging has continued to lead the industry in a comprehensive array of construction services on projects ranging from hospitality, commercial, residential, institutional and healthcare, as well as major infrastructure and utilities work. President:

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