Independent investment banking advisory focused on
the decarbonization of hard to abate industries
Global Perspective | World Class Execution
About Us
We are a senior team of investment banking professionals with a long and successful track record of executing complex advisory assignments in the global industrials sector including steel, mining, aluminum, materials, cement and building products among others.
We have decades of experience having held senior roles at leading global investment banks, including Evercore, Lazard, Credit Suisse, Blackstone and Lehman Brothers.
We provide differentiated and bespoke advice relying on deep industry expertise, an extensive international network and significant cross-border experience.
Our Approach
The global drive towards decarbonization has the generation of sufficient clean energy at its core. However, so called “hard to abate” sectors including steel, cement, chemicals and mining account for more than 50% of CO2 emissions which are primarily derived from production processes. The decarbonization of these industries is attracting significant focus, resources, and capital as in many specific cases, the optimal path to decarbonize has yet to be developed or commercially proven.
Our approach involves treating industrial decarbonization as a sector unto itself. An ecosystem is rapidly emerging around companies that develop decarbonization focused technology, products and services. This ecosystem also includes: (i) blue-chip sector companies that are both customers and investors for decarbonization companies; (ii) private capital funds with a decarbonization led investment mandate; and (iii) government entities providing policy and financing support for decarbonization.
Sector participants are pursuing four main pathways as part of their decarbonization strategies:
1. Process Transformation
New technology / process delivering a comparable outcome at lower carbon intensity
e.g.- Green H2 based steelmaking, Electric or Fuel cell powered cars / trucks, Direct lithium extraction
2. Clean Energy Source
Enabling migration to a CO2-free energy
e.g.- Battery storage, Electricity grid upgrades, Sustainable Aviation Fuel, H2 fuel cells
3. Optimize Material Use
Lowering of CO2 footprint in value chain via increased circularity, building supply chains for new raw materials
e.g.- Green H2 infra, Increased steel / aluminum / plastics recycling, , Bio feedstock for chemical
4. Carbon Capture Utilization and Storage
CO2 capture from emissions intensive sites and convert for industrial use / sequestration
e.g.- Retrofit of cement / chemicals / alumina plants, Direct air capture for offsetting aviation / maritime emissions
Services
We provide a full spectrum of strategic and financial advisory services to institutional clients on a global basis.
Our advice is differenciated via the following:
Specialized Sector Knowledge
Client Driven Long-term Perspective
Global Focus / Cross Border Expertise
Independent and Conflicts Free
Senior Team with Deep Track Record
Mergers and Acquisitions
Sell Side / Buy Side
Mergers / Joint Ventures
Corporate Divestitures
Spin-Offs / Carve-outs
Transformational M&A
Capital Raising Advisory
Strategic / Institutional Equity
Debt Structuring / Coordination
Balance Sheet Advisory
Strategic Advisory
Strategic Reviews
Corp. Development / Strategic Partnerships
Board of Directors Advisory
Takeover Defense
Activist Advisory
Senior Team
Sale of ArcelorMittal's US long products business
Severstal's exit from the US via a series of transactions totalling more than $3.6bn in value, including the sales of Columbus / Dearborn to Steel Dynamics / AK Steel and Warren, Wheeling and Sparrows Point to RenCo
Empresas Copec's (Alxar) acquisition of a 40% stake in the $1.6bn Mina Justa greenfield copper project in Peru
$1.1bn debt restructuring of Algoma Steel under CCAA
Jose Miguel Smith
Managing Partner
Jose Miguel Smith has over 25 years of international investment banking advisory experience primarily in the global metals, mining and materials sector where he has led many of the industry’s landmark transactions.
Prior to Andina, Jose Miguel was Global Head of Metals, Mining and Materials at Evercore. He held prior senior roles at Lazard Frères and Credit Suisse First Boston in New York and London.
Selected transaction experience includes:
Bio
Empresas Copec's (Alxar) acquisition of a 40% stake in the $1.6bn Mina Justa greenfield copper project in Peru
$1.1bn debt restructuring of Algoma Steel under CCAA
Oerlikon's $1.1bn purchase of Sulzer's Metco coating materials business
Thompson Creek Metals' C$650m acquisition of Terrane Metals, owner of the Mount Milligan copper-gold project
Noble Group's sale of its stake in the Middlemount coking coal project in Australia to Gloucester Coal
Akshay Natarajan
Partner
Akshay Natarajan has more than 15 years of investment banking advisory experience, mainly focused on executing complex transactions in the global metals, mining and materials sector.
Prior to Andina, Akshay was a director in the metals, mining and material team of Evercore. He previously held positions at Blackstone Advisory Partners and Lehman Brothers in London and Hong Kong.
Selected transaction experience includes:
Bio
Gary Cullen
Senior Advisor
Gary Cullen has more than 35 years experience as a corporate finance lawyer and an investor across a variety of industry sectors.
Mr. Cullen spent more than 30 years, including 23 as a Partner, at Skadden, Arps, Slate, Meagher & Flom LLP. He focused on M&A, financings and other transactional and board-level corporate matters.
Since retiring in 2016, Mr. Cullen has been active as a private investor via his firm GPC Ventures LLC. He is currently serving as a principal at Natural Science, LLC (oil spill remediation) and Carbon Science Solutions LLC (spirits / carbon materials).
Bio
John Elmore
Senior Advisor
John Elmore has a long and accomplished track record of leadership within the global steel and industrial manufacturing sectors.
Mr. Elmore's experience includes senior roles at Commercial Metals Company (SVP & President, International Division), Jindal Steel and Power India (Group Director, Strategy & Business Coordination), Minnesota Steel (President and CEO), Austeel (CEO) and Ryerson Tull (Vice President, Asian Operations).
Mr. Elmore currently advises companies and investors in the sector, including most recently as a board member at Martinez Steel, a US-based steel rebar fabrication company owned by New State Capital.
Bio
Marcelo Slonimsky
Senior Advisor
Marcelo Slonimsky has over 25 years of experience as a corporate finance lawyer in Latin America advising US and European clients, many of them publicly listed companies, on cross border mergers & acquisitions and other projects. He is also an independent Board member at several companies.
Currently, Mr. Slonimsky is a Partner at Bourel & Paris-Laplace, a law firm based in Buenos Aires, Argentina.
Before joining BPL, Mr. Slonimsky was a Partner at the Buenos Aires office of Baker & McKenzie (1994-2010) where he advised international clients on multi-jurisdiction deals and corporate matters. He was also an Associate at the London office of Baker & McKenzie (2002-2004)
Bio
Gonzalo Cuadra
Senior Advisor
Gonzalo Cuadra has over 3 decades of experience in the metals market, working at Codelco, one of the world's largest copper mining companies.
Prior to his recent retirement from Codelco, Mr. Cuadra served as Managing Director and CEO of the company's European trading business, based in London. Mr. Cuadra has also previously served as Copper Sales Manager for Shell / Billiton and as European Regional Sales Manager for SQM.
Mr. Cuadra is currently a member of the Board of Directors of La Farga, a private manufacturer of semi-finished copper products in Spain.
Bio
Contact
Andina Partners International LLP
167-169 Great Portland Street, 5th Floor
London, W1W 5PF
Tel: +44 (0)208 1333 798
