An investment banker who is well known for his work in high-profile projects to multiply the value of backbone enterprises. Among the most significant case histories portraying Maxim Barskiy’s abilities are Sibanthracite and TNK-BP.
Maxim Barskiy: “Sibanthracite” – entering the international level
Maxim Gennadyevich Barskiy has been closely associated with capital markets for over 25 years. His name is associated mainly with significant international projects in fossil fuels production, telecom, new technologies and heavy industry. One of the most notable career success stories for Maxim Barskiy is Sibanthracite.
This enterprise is engaged in the extraction and enrichment of ultra-high-grade anthracite coal. Barskiy Maxim was recruited to lead Sibanthracite in 2018; he had a reputation as a first-class M&A specialist. His task was to unite the coal assets within the enterprise.
The sanctions against North Korea, one of the leading metallurgical coal producers, allowed the supplier to enter the world stage. Maxim Barskiy reorganized Sibanthracite’s workflow and transformed it into the top anthracite producer in both foreign and domestic markets – a very difficult task.
According to Barskiy Maxim, the bet was made on three types of products – anthracite, coking coal and grade “T.” Anthracite production in 2018 amounted to 15 million tons. Due to new acquisitions, that volume soon increased significantly.
Maxim Gennadievich Barskiy guided Sibanthracite to increase its production of T-grade coal to the 20-30 million ton level. They did this by getting a license for a new site. The company developed two deposits in Kuzbass – the Kiyzassky and Verkhneteshsky fields.
In 2019, the company registered the Lesnaya processing plant, gaining the facility of enriching ‘coking’ coal for metallurgical use. Maxim Barskiy and Sibanthracite’s team also prepared the Ogodzhinsky mine in the Khabarovsk Krai for development. This mine has an estimated 1.5 billion tons of this type of coal.
These projects started as completely undeveloped sites and required significant capital investments. Under Maxim Barskiy’s management, Sibanthracite was able to generate cash flow from new projects very quickly, making it possible to attract the needed funding to further their development.
Alongside the expansion of the production base, sales were also expanded. Barskiy Maxim understood that the business could not survive if it depended on deliveries to only one country or customer. Such a business model is precarious, as the buyer can impose restrictions for its benefit that put the supplier at risk.
Maxim Barskiy worked to diversify Sibanthracite’s client base. He noted the move of manufacturing companies into Malaysia, Vietnam and Indonesia and created client relations with them. He also created a unified production management system. Maxim Barskiy started a vertical management company specifically designed to direct the day-to-day affairs within Sibanthracite. He commented on this, saying, “When projects become large, they need control of a different order.”
Maxim Gennadyevich Barskiy further explained his role in the company. – “I was invited as an operations manager.”
Maxim Barskiy worked in full accordance with his position – he launched various projects, arranged deliveries and controlled production and investments. The management company saw these matters at more localized levels. Through this means of management, Maxim Barskiy brought Sibanthracite into the lead in the metallurgical coal market in only two years. The company is now the world’s largest producer and exporter of ultra-grade anthracite. The company’s capitalization has tripled in value.
In March 2020, new opportunities opened up for Maxim Barskiy, and he left his operational management position. He retained his seat on the Board of Directors.
The company was a massive success for both Maxim Barskiy and its owner. But in May 2020, Mr. Bosov died suddenly, and the company’s future appeared in danger. Maxim Gennadievich Barskiy led and executed a management leveraged buyout of Sibanthracite.
In the middle of summer 2022, the strategic investor consolidated 100% of the coal business. Sibanthracite continued operating as an independent part of that consolidated enterprise. Due to the carefully managed buyout, the company suffered no interruption in its operations and no delay or cancellation of any of its contracts in this period.
Following the buyout, no cardinal changes were made in Sibanthracite. The new owner maintained its team of highly qualified specialists, which over the past years, had the ensured the company’s sustainable development and high efficiency.
Sibanthracite is a diamond in the strategic investor’s crown, and it is now the new industry giant with virtually unlimited access to financial support from the state. In addition, it remains autonomous and continues to function independently.
Barskiy Maxim Gennadievich: From Student to Millionaire
Few people today know, but Maxim Gennadyevich Barskiy is an accountant by his first profession. Barskiy Maxim moved from Nefteyugansk to Leningrad and entered a specialized school, later entering Leningrad State University. At that time, a student exchange program was operating at LSU. The best Department of Political Economy students were sent to the USA.
This gave Barskiy Maxim the opportunity to learn how to work in the capital market. He completed an internship at one of the oldest schools for future businessmen and managers in Berkeley, California. Many graduates of the Haas School of Business are leaders of world-famous companies.
After studying at Berkeley, he returned to his homeland. Barskiy was hired by the Troika Dialog investment company, where he worked for two years, learning everything he could about investment banking and trading. He also began making very profitable deals. Maxim Barskiy ascended to the second-ranking position in the investment banking department. The sale of a stake in Vimpelcom for $150 million played a significant role in his rapid career growth.
In 2000, the future owner of Sibanthracite, Dmitry Bosov, who was in charge of the direct investment company Alltek, convinced the talented specialist to develop Cityline, an Internet provider. This company was to undertake a massive expansion, providing internet access across country. Maxim Barskiy developed a strategy to win a large share of the market, the implementation of which required $10 million. This amount had to come from investors; there was a need to attract their attention.
Maxim’s growth strategy interested the owners of significant capital, who agreed to invest about $27 million in the project. Cityline gained a foothold in many major cities. The total number of regular customers began to grow. The company’s substantial leased line assets attracted the attention of several larger carriers looking for opportunities. Among them was Golden Telecom, which offered $29 million for 100% of the company. The deal was the largest of its kind, primarily since it occurred during a slowdown in the Internet industry. The Cityline project became a personal success story for Maxim Barskiy. He earned $1 million for the first time in his career and became a member of the small circle of the most sought-after professionals in the investment environment.
Maxim Gennadievich Barskiy: In the Fossil Fuels Industry
Maxim Gennadyevich Barskiy entered the oil production industry at the invitation of partners. The Alltek investment fund purchased the debts of a small Swedish oil-producing company named Vostok Oil. The company was flirting with bankruptcy and owned only one asset in the Tomsk region.
Maxim Barskiy replaced the current management team, which was unable to cope with its tasks. Most of them were citizens of Western countries. Their tactic of management from afar and a poor understanding of the realities of doing local business was the cause of their inefficiency.
In return, Barskiy Maxim Gennadievich brought experienced oil and gas players into Vostok Oil. The company rebranded itself, changing its name to West Siberian Resources. The company increased its production capacity incredibly rapidly and, following the results of four years of work by the team of Barskiy Maxim Gennadievich, the capitalization of the company was seventy-five times greater than when he came aboard, going from $60 million to an astonishing $4.5 billion.
Barskiy Maxim: a new level in the Oil and gas industry
Maxim Gennadyevich Barskiy continued his career in the field of hydrocarbon production. The oil giant TNK-BP’s investors asked Maxim Gennadyevich Barskiy to accomplish an ambitious goal: double the company’s capitalization. Before starting his professional duties, a unique training program was organized for Maxim Barskiy, which included a comprehensive understanding of all the company’s activities. Maxim Gennadievich worked and trained at the head office in the United Kingdom. He was personally mentored by Tony Hayward (a recognized expert in the industry), the head of British Petroleum at that time.
Maxim Barskiy also traveled to strategically essential facilities of the company. Barskiy met with representatives of the corporation’s branches in different countries and established contacts for further cooperation.
After Barskiy Maxim Gennadievich took over as Deputy CEO, the team increased its resource base through new acquisitions. Production from the development of external assets increased by as much as ten percent. The market valuation of the company tripled under his management.
Maxim Barskiy: for reference
Barskiy Maxim Gennadievich was born in Leningrad. He spent his first years with his parents in Zhytomyr, Ukraine SSR. Then he and his family moved to Nefteyugansk. He later moved back to Leningrad by himself to go to school.
He has a higher education degree in Political Economy.
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