Capability Statement - Portrait - New - 2022

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Company Profile

OCTOBER 2021

The information contained herein must be treated in a confidential manner and may not be
reproduced, used or disclosed, in whole or in part for any other purpose, without the prior written
consent of Brickstone.

9A Ibeju Lekki Street | Dolphin Estate, Ikoyi | P.O.Box 50939 Ikoyi, Lagos
Tel: +234-08051262691, 08036713949 Email: hello@brickstone.africa
GENERAL INFORMATION Page 2

General Information

Our Promise,
Our Promise, Our Seal
Our Seal

• To put you ,our customer first always


• To tailor our services to your needs
• To think innovatively, but act practically
• To deliver results above and beyond your expectations

Contact www.brickstone.com.ng
Information

KEY CONTACTS

Brickstone Project Limited


9A Ibeju Lekki Stree
Dolhin Estate, Ikoyi
P.O.Box 50939
Ikoyi, Lagos

Tel: +234-08051262691, 08036713949


Email: hello@brickstone.africa

CAPABILITY STATEMENT
TABLE OF CONTENT Page 3

Table of Content

Table of Section 01 About Us


Content
Section 02 Our Sector Focus

Section 03 Our Team

Section 04 Our Experience

CAPABILITY STATEMENT
Section 01

About Us
What we all
About
Our aim is to be the Africa’s most admired and successful
benchmark in executing early stage large scale infrastructure
and industrial projects.

We are driven by our passion, creativity and collaboration to


understand and anticipate our customers’ changing needs
ABOUT US Page 6

Who we Are

Brickstone is a Project Accelerator firm with strong


competence in early-stage project development for
large industrial and infrastructure projects.

In executing our advisory process Brickstone combines investment


acceleration, capacity building and hands-on advisory skills to navigate
the complex structures which characterize today’s financial markets and
an unsurpassed creative approach that differs from the traditional
consulting firm.

Our Goal at Brickstone is to be Africa’s Infrastructure Catalyst

Brickstone believes Africa presents an attractive investment opportunity for


investors seeking attractive and long-term risk adjusted returns. Despite the Energy,
Infrastructure and Real Estate markets in Africa having high and stable returns, only
a few institutional advisors under this risk and ability to mitigate them.

Brickstone is the “catalyst” Africa has been looking in quicken its gap in its
infrastructure deficit, while providing the quality project development and
acceleration service

CAPABILITY STATEMENT
ABOUT US Page 7

Our Approach

We strive to be known as "the quality" driven development advisory


practice. We focus on creating distinctive, eminent assets that fuse
functionality with strong commercial considerations

Key Elements of Our Approach

Reflection
We start from the vision and local needs, so as to identify and design the
optimal solution. We pro-actively engages with local stakeholders to identify
the critical needs.

Passion
We have a passion for excellence that drives every stage of a project, from
design conception to the daily use of our completed projects. We are
motivated by delivering outstanding buildings that are both sustainable and
inspiring for many years to come.

Pragmatic solutions
We provide real solutions that covers all the technical and commercial
aspects and a team that guarantees optimal implementation. This approach
greatly facilitates the decision-making process and enables a much shorter
planning phase

CAPABILITY STATEMENT
ABOUT US Page 8

Our Aspirations

"Brickstone is right at the heart of the great African Infrastructure growth


story of our time – and playing a critical role.

Satisfying the Africa's escalating needs for Infrastructure over the next few decades
will continue to be a momentous challenge. Our objective is to help investors, lenders
and governments by providing them with the commercial, strategic and financial
insights they need to make value-creating decisions to close the infrastructure gap".

CAPABILITY STATEMENT
ABOUT US Page 9

Our Value Add

In Africa it is becoming clear that the reasons for the shortage of infrastructure
investment go beyond the need for policy and governance reforms. But the key
problem is not a lack of funding, as might be expected. Instead, it is the lack of
well packaged, bankable projects. This must be addressed through increased
attention to project preparation and execution.

In filling this gap Brickstone intends to make a real and lasting impact on the
development of sub-Saharan Africa’s Energy, Infrastructure and Real Estate
Sectors. The Brickstone Team have over 50 years of extensive experience in
commercial advisory, transaction structuring and development management and
have been able to perform some of the most innovative and market-leading
projects.

Our Service is offered in 3 distinct themes

1 Appraise 2 Advise 3 Accelerate

1. Project Appraisal 1. Project Finance 1. Development


Advisory Planning
2. Cost Estimation
2. Corporate Finance 2. Contract and Cost
3. Financial Modelling Programming
Advisory
3. Secure Asset 3. Development Co-
Advisory ordination &
Support

Our aim is to be the Africa’s most admired and successful benchmark


in executing early stage large scale infrastructure and industrial
projects.

We are driven by our passion, creativity and collaboration to


understand and anticipate our customers’ changing needs

CAPABILITY STATEMENT
ABOUT US Page 10

Appraise

Our Appraisal services is data driven through models and


analysis

We use state-of-the-art analysis and modelling tools to assess market demand and to
perform detailed evaluations of cost estimates of proposed investments and end up
with a business case. Our mission is to protect and promote the interests of making
Infrastructure happen in Africa. In order to achieve its mission, Brickstone Africa
undertake policy intelligence activities with a view to promote trade and investment
within the built and natural infrastructure space.

Financial Modelling Estimation & Cost Feasibility Business Case

Infrastructure Financial Modelling Estimation and Cost Research Projects will only deliver their
is used to assess the risk-reward services are for various clients intended outputs
of lending to and investing in any which include project and benefits if they are properly
commercial project. The project’s promoters, sponsors and other scoped, planned and cost justified
debt capacity, valuation and project consultants. from the outset.
financial feasibility depend on
expected future cash flows Our primary goal is to provide Preparing a Project Business Case
generated by the project itself and the best possible services provides decision makers and
a financial model is built to analyze resulting in a finished project stakeholders with a proven
this. that is completed both on time framework for structured ‘thinking’
and within budget and which and assurance that the project:
At Brickstone we understand that exceeds the client’s
every project is unique and factors requirements.
that affect project outcomes can
change quickly.

CAPABILITY STATEMENT
ABOUT US Page 11

Advise

Our Transaction Advisory services are embedded in our


commitment to excellence, our creativity, and ability to deliver
results.
We assist clients to optimise their capital structure and ensure sufficient liquidity to
allow business units and projects to operate freely. We do this by devising innovative
structured financing solutions that enable clients to capture new investment and
business opportunities or support growing operational needs, we act to create a
financial profile consistent with corporate aims and objectives.

Project Finance Advisory Corporate Finance Advisory Capital Placement

Project Finance Structuring Our M&A services include: Our Placement services include:
▪ Viability & risk analysis
▪ Project Bankability ▪ Sell-side & Buy-Side advisory ▪ We Serve as placement agent
▪ Modelling services for private debt/equity offerings
▪ Commercial terms ▪ Comprehensive services for sell- ▪ Prepare marketing materials for
▪ Debt strategy side acquisitions, divestitures potential investors
▪ Credit structure and other exit strategies ▪ Identify and evaluate potential
▪ Explore, analyze and advise on capital partners
Documentation strategic alternatives
▪ Information memoranda ▪ Assist in negotiations with
▪ Provide judgment on valuation investors
▪ Financial terms sheet and transaction structure
▪ Closing Documentation ▪ Identify and evaluate potential
acquirers

CAPABILITY STATEMENT
ABOUT US Page 12

Accelerate

Our goal is to Accelerate a new set of Africa Infrapreneurs


who understand the process of sustainable infrastructure
development and investing
This is a specialist service where we advise, lead and manage all aspects of
development, from inception, acquisition and design, through planning, financing and
fund raising, commercial issues, and implementation.

We do this by devising innovative project life management solutions that enable


clients to save cost and enhance opportunities or support growing development.

Planning & Asset Delivery Contract and Cost Programming Asset Management

In planning and asset delivery we Contract and Cost Programming Typically Asset managers focus on the
incorporate detailed ingredients for Infrastructure Construction projects longer-term, strategic big vision of
commercial success to achieve are complex enough without added maximizing the value of the assets and
construction delivery. These include stress from cost management issues. realizing the highest return on
detailed cost planning and revenue investment (ROI) for the
forecasting, anticipating and At Brickstone, our cost consultants do owner/investors.
incorporating reasonable risks and everything possible to keep projects
market requirements. on-track and within budget. We take responsibility as the owner’s
representative in order to maximize
Planning and Asset Delivery the Asset’s financial performance
encompasses the services that include
(1) Planning ( from Pre-contract to
Contact) and (2) Asset Delivery ( from
Contract to Commissioning)

CAPABILITY STATEMENT
Page 13

Section 02

Sector Focus

CAPABILITY STATEMENT
The Sectors we
focus upon

1 Transport Infrastructure
These includes projects Airports, Railways, Roads and Highways,
Ports and Marine Infrastructure

2
Natural Resources & Heavy Industries
These include projects Oil and Gas (Upstream, Mid-stream,
Downstream) as well as Solid Minerals & Extractive Industries
including Process Industries

3
Real Estate & Hospitality
We focus on Grade A Offices, Retail Malls and Industrial Space and
Hotels, Resorts & Tourism and Leisure as well as Student Housing

4
Industrial based Agriculture
These are resources for increasing farmers’ incomes through the
development of yield enabling infrastructure such as Agriculture storage,
processing, irrigation and power which can be financed through
contracted revenue arrangements

5 Power & Renewables


These include Hydro/Gas based and Renewable Power and well as
Transmission Grid Infrastructure

6 Technology Infrastructure
They are very capital-intensive technology equipment's used in the
Telecoms, Cloud, Media and Healthcare Space which can be
financed through contracted revenue arrangements
SECTOR FOCUS Page 15

Transport Infrastrcuture

Transport infrastructure is a key driver


for economic development/growth in the
West Africa sub-region. The unlocking
of the development of transport
infrastructure through a number of
options such as appropriate legal &
regulatory framework, private sector
participation and long term financing.
We understand the drivers that impact
the industry from the farm gate, along
the supply chain, to the end processors.

Land Transportation

Road | Rail | Highway | Transportation Nodes

Our services in this business sector are mainly related to assisting sponsors and
governments in delivering major infrastructure projects in the transportation such as
Railways, Roads and Highways Transpotation Infrastructure.

Water & Air Transportation

Sea Ports | Inland Waterways | Airports

PFI/PPP schemes are becoming increasingly common in Africa in the Water and
Transportation Sectors. We assist sponsors in project conception and traffic modelling, to
management of construction and subsequent operation; we deliver the highest level of
professional excellence in transport services.

Case Study:
Development Pre-Feasibility,
New Standard Gauge
The objective of the study is to examine the feasibility
of New Standard Gauge Route for a proposed route in
Nigeria. The consultancy is intended to establish the
technical, economic, and financial Viability of
implementing the identified project as PPP project,
through the generation of an Outline Business Case
(OBC) in accordance with Nigeria’s National PPP
policy.
Client Name: AXIM Partners
Contact: Mr. George Aku
Email: georgeaku@ymail.com

CAPABILITY STATEMENT
SECTOR FOCUS Page 16

Natural Resources & Heavy Industries

Our Energy & Natural Resources practice


specializes in advising companies seeking to
finance the development of Energy and
Natural Resources assets. We assist clients
in formulating a project financial plan and
provide advice and assistance in securing
project debt financing and strategic partners.

Natural Resources

Oil and Gas | Mineral Exploration | Processing


We provide financial, commercial and strategic services for the different stages of
exploration, production, storage and shipping, refining and marketing.

Heavy Industries

Manufacturing | Fabrication | Galvanizing | Fertilizer

Our services in this business sector are mainly related to assisting sponsors and
governments in delivering major project in Heavy Industries. We utilise our integrated
skills to coordinate the deliverables of specialist advisors and consultants. Our focus is to
bring about consistent, understandable and integrated documents reflecting the optimum
solution between finance, operations, maintenance and production objectives.

Case Study:
LPG Storage, Calabar Port
To take advantage of emerging opportunities in the
LP gas sub-sector of the Nigerian oil & gas industry,
Daddo-Gas Limited, an investment holding company
based in Lagos intends to establish LP Storage
Infrastructure in Calabar. We provided fund raising
documentation to make this a reality (these includes
Information Memorandum, Financial Model and Term
Sheets)

Client Name: Daddo Group


Contact: Mr. Dayo Balogun
Email: dayobalogun@daddogroup.com

CAPABILITY STATEMENT
SECTOR FOCUS Page 17

Real Estate & Hospitality

We Advise, Structure and


Execute transactions for–
Occupiers, Developers,
Landlords and Investors–to
optimize their financial and
strategic goals for their
Buildings and Infrastructure

Commercial Real Estate


Offices | Retail | Industrial | Warehouses
We assist owners, investors, lenders, individual and corporate owners of Property and
Infrastructure to develop and execute sophisticated financial strategies aimed at improving
operations, unlocking value or minimizing risk. Our Approach to Appraisal helps in strategic
planning and due diligence, property acquisition, asset sale, new and redevelopment
projects, "work outs" of distressed properties, project financing, and deal structuring.

Hospitality & Leisure


Hotels | Student Housing | Leisure | Resorts
The hospitality and tourism industry has a highly capital intensive nature and offers much
of both associated risks and rewards, and for this reason our specialist hospitality and
student housing consulting skills are often required by our clients to conduct a market and
financial hotel feasibility study

PPP Based Developments


Urban Renewal | Healthcare | Education | Prisons
We create specialized economic development strategies for properties having complex
development needs using Private Public Partnerships including Healthcare, Education
and Properties with significant environmental remediation needs.

Case Study:
Multi level CarPark, Marina
The objective of this study was to prepare an highest and best
use analysis for the identified properties to determine their
viability and optimal use. AG Leventis Nigeria Plc desired that
their property at Marina be analyzed for optimal returns. We
evaluated market conditions for each identified potential use,
including such indicators as rent rates, vacancy, and absorption.
Based on the market research, we reached conclusions about
uses that have the best market potential
Client Name: New Nigeria Development Company
Contact: Mr. Shehu Mai-Bornu
Email: mai.bornu@gmail.com

CAPABILITY STATEMENT
SECTOR FOCUS Page 18

Industrial based Agriculture

Our agribusiness professionals have


extensive experience in assisting
participants — from stakeholders of
small to medium domestic
agribusinesses to large multinational
organizations — to address feasibility
issues. We understand the drivers that
impact the industry from the farm gate,
along the supply chain, to the end
processors.

Agro-Industrials

Oil Palm Processing | Irrigation | Milling Plants | Agro-Processing

Our Agriculture business specialist provides advisory, management services to a select


clientele in Agribusiness projects. We manage the feasibility studies and programme
interfaces, drawing on our industry experience of the contractual, commercial and
technical issues in financing agriculture.

Heavy Industries

Manufacturing | Fabrication | Galvanizing | Fertilizer

Our services in this business sector are mainly related to assisting sponsors and
governments in delivering major project in Heavy Industries. We utilise our integrated
skills to coordinate the deliverables of specialist advisors and consultants. Our focus is to
bring about consistent, understandable and integrated documents reflecting the optimum
solution between finance, operations, maintenance and production objectives.

Case Study:
Tesco Elipizo Farms, Delta State
Project Involves (a) Oil Palm Cultivation & Cassava
Cultivation- Inter cropping Cultivation of Cassava and Oil
Palm via a Farm Co-operative of over 650 Ha of Land ,
secure working capital financing from the banks via FGN
backed AgroFund Scheme (b) Oil Palm Milling & Starch
Milling - Installation of a Capacity of 65 tons of fresh cassava
annually for the Starch Milling plant in collaboration with input
produced from the co-operative. ( c) Installation of a 10,000
kg/hr Capacity Oil Milling plant in collaboration with input
produced from the co-operative. (d) Poultry Farming
Installation of a 35,000 Capacity Poultry Farm.

Client Name: Tesco Elpizo Farms


Contact: Mr. Ken Odogwu
Email: odogwu@yahoo.com

CAPABILITY STATEMENT
SECTOR FOCUS Page 19

Power & Renewables

We provide power and renewable energy advisory, development and asset


management to support public and private clients throughout their project
lifecycle. The resources that generate our Renewable Energy stems from
solar, wind, geothermal, biomass, and also low-impact hydro facilities.
Conventional power generation, based on the combustion of fossil fuels
such as Gas.
We have a team of development advisory specialist supporting public and private clients
throughout the project lifecycle of Conventional Power, Solar and Wind projects; from
concept, feasibility and planning, through due diligence, analysis, and environmental &
social services to performance optimization and energy management.

Natural Resources

We provide financial, commercial and


strategic services for the different stages of
exploration, production, storage and
shipping, refining and marketing.

Renewable Energy
We project specialist supporting public and
private clients throughout the project
lifecycle of Solar and Winds based power
projects; from concept, feasibility and
planning, through due diligence, analysis
and financial closure.

Transmission & Grids

We assist clients in formulating a project


financial plan and provide advice in the
developments of Mini-Grids and
Transmission Infrastructure

CAPABILITY STATEMENT
SECTOR FOCUS Page 20

Technology Infrastructure

They are very capital-intensive IT


hardware assets that can be shared
amongst multiple users such as
Fintech, Banks, Media and Broadcast
as well as Healthcare.

Their bankability is typically driven by


Contracted Revenues with
Creditworthy third parties.

Data Centers
Theses are Managed Service Providers – Provision of space, power, security & IT
systems, multiple tenants, with contracts terms (3-5 years), shared facility or Co-location
Providers – with longer contracts (5-10 years), typically investment grade /corporate
customers, known revenues & costs.

Media & Broadcast Centres

Key participants include local independent film makers, production studios looking for
Managed Service Providers – Provision of space, power, security & Filming systems
under a revenue contracts terms for the shared Broadcast Facility

Healthcare Infrastructure

These include Managed Healthcare Infrastructure Service Providers – Provision of space,


power, security, medical scanning systems with contracted revenue for terms (3-5 years),
shared facility for HMOs or Hospitals

CAPABILITY STATEMENT
Page 21

Section 03

Our Founder

CAPABILITY STATEMENT
Our
People
A Strong Culture to Drive Our Success

WE STRIVE FOR

01 EXCELLENCE
We differentiate ourselves every day by providing a truly global service
with excellence in execution

WE ARE

02 COLLEGIAL
We want to be the company where people feel empowered to satisfy
their client’s expectations with the help of the firms leadership

03 WE ARE
ENTREPRENURIAL
We are fortunate to be nimble in our
ability to recognize new opportunities and to take calculated risks,
as we aggressively pursue our clients’ interests.

04 WE
WORK HARD
As a small firm, we do not have many of the advantages (or
disadvantages) of our larger competition. We work harder and smarter,
harnessing opportunities to build our expertise and skills and we always make
the extra effort for our clients and our business.

WE OPERATE WITH

05 INTEGRITY
From the types of clients we represent to the quality of our research and
the people we hire, we must always operate with strength of character and
integrity.
OUR TEAM Page 23

Our Founder

FEMI AWOFALA Femi is a Founder of Brickstone and has over a decade of experience
Managing Director
advising companies and governments on private investments in energy, real
estate and infrastructure. His past experience in the capital markets includes
structuring and executing project/structured financings and M&A transactions.
He leads Brickstone’s Origination & Commercial advisory team in Energy,
Infrastructure and Real Estate where his key activities include;

EDUCATION ▪ Establishing relationships with clients through Origination initiatives with


the aim of identifying business and partnership opportunities especially in
B.Sc, Geology ,
energy and infrastructure sector;
University of Ibadan
▪ Developing PPP feasibility studies, specifically the financial models
MBA, Lagos Business thereof, to test affordability, value-for-money and appropriate risk allocation
School, Pan-African for governments.
University
▪ Developing financial models and valuations for various companies towards
MEMBERSHIP coordinating potential investments and re-financing for energy and
infrastructure based transactions;
Nigerian Economic Summit
▪ Assisting and supporting institutions to draft Terms of Reference for PPP
Group
procurement
▪ Providing strategic input on policy guidance on infrastructure, construction
procurement and policy.

Femi was an investment banking professional with Vetiva Capital


Management Limited where he lead teams on several M&A transactions,
capital raisings programmes as well as structured/project financings of over
$500 million. Prior to joining Vetiva Capital Management Limited, he was at
the ARM Investment Managers and was part of the private equity real estate
team and he assessed potential real estate investment opportunities,
prepared detailed financial models and valuations and oversaw property
development, construction management, coordinated marketing, contract
negotiations and closings for a real estate developments.

**Career Experience

CAPABILITY STATEMENT
OUR TEAM Page 24

Our Founder

F EMI A W OFALA
Managing Director Project Worked Upon**

▪ PPP Infrastructure advisory for Cross River State Government in


respect of the concessioning of the N5 billion (US$33 Million) Calabar
Central Market (Jun. 2009) to Bluewater Development Company
Limited.

▪ Financial advisory and debt capital raising N75 billion (US$ 500 million)
bond offering by Nigeria’s foremost integrated Aluminum Canning
Industry company,(2010);

▪ Financial advisory and equity capital raising N9 billion (US$ 40 million)


convertible loan stock for the largest urea producer in Sub-Sahara
Africa,(2010);

▪ Corporate restructuring advisory for an independent downstream


company for the debt restructuring of N62 billion (US$413 Million)
accumulated short term borrowing into a 5 year Syndicated Medium
Term Credit Facility involving a syndicate of 7 Nigerian Banks,(2010);

▪ Sell Side M&A Advisory for Skye Bank Plc in respect of its N5 billion
(US$33 Million) divestment from a Major CDMA Telecoms Firm,(Mar.
2009);

▪ M&A Advisory for Royal Exchange Plc towards its Scheme of


Arrangement involving Royal Exchange Plc, Royal Prudential Plc and
Royal General Insurance Limited, (Apr. 2008);

▪ Advisory and equity capital raising for Diamond Bank Plc in respect of
the N75 billion (US$500 Million) Global Depositary Receipts Offering,
(Jan. 2008);

▪ Advisory and equity capital raising for Skye Bank Plc in respect of the
N56 billion (US$370 Million) Hybrid Equity Offering, (Dec. 2007);

▪ Property development and construction management for a $150


million 4-star 200room hotel in Lekki , Lagos in which ARM Investment
Managers has 30% equity holding;

**Career Experience

CAPABILITY STATEMENT
Page 25

Section 05

Our Experience

CAPABILITY STATEMENT
Our
Experience

Our Promise, Our Seal

• To put you ,our customer first always


• To tailor our services to your needs
• To think innovatively, but act practically
• To deliver results above and beyond your expectations
OUR PROJECT ADVISORY EXPERIENCE Page 27

Heavy Industries & Agriculture

CAPABILITY STATEMENT
OUR PROJECT ADVISORY EXPERIENCE Page 28

Energy & Natural Resources

CAPABILITY STATEMENT
OUR PROJECT ADVISORY EXPERIENCE Page 29

Real Estate & Hospitality

CAPABILITY STATEMENT
OUR PROJECT ADVISORY EXPERIENCE Page 30

Real Estate & Hospitality

CAPABILITY STATEMENT
OUR PROJECT ADVISORY EXPERIENCE Page 31

Real Estate & Hospitality

CAPABILITY STATEMENT
Contact Information
Direct Line: +234-814 990 6488
Email: hello@brickstone.africa

Address

9A Ibeju Lekki Street, Midel Center ,


Dolphin Estate Plot 14,Off Oladipo Diya Way,
P.O.Box 50939 Sector Centre D, Gudu
Ikoyi Lagos District Abuja

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