Upload
ledat
View
213
Download
1
Embed Size (px)
Citation preview
1.7x
1.3x
1.0x
0.8x 0.7x
—0.2x0.4x0.6x0.8x1.0x1.2x1.4x1.6x1.8x
Facilities Industrial Staffing Logistics BPO
LTM
Deb
t / E
BITD
A
5.2%
12.1%
6.8% 5.5%
9.2%
—
2%
4%
6%
8%
10%
12%
14%
Facilities Industrial Staffing Logistics BPO
1-Ye
ar R
even
ue G
row
th
Leverage Multiples Gross & EBITDA Margins
1-Year Revenue Growth1-Year Stock Returns
18.2%
13.8%
22.1% 23.0%
30.2%
6.1% 6.1% 5.1%
13.9% 13.3%
0%
5%
10%
15%
20%
25%
30%
35%
—
5%
10%
15%
20%
25%
30%
35%
Facilities Industrial Staffing Logistics BPO
LTM EBITD
A M
arginLTM
Gro
ss M
argi
n
Target Acquiror Acquisition Synopsis
Faci
litie
s •
•
GI Partners, a San Francisco-based PE firm, acquired KBS, a leading provider of cleaning and janitorial services to 15,000+ customers in North America; KBS was previously a portfolio company of Kohlberg & Co.GI believes KBS is poised for strong growth given its nationwide presence, hybrid delivery model, data-driven orientation and significant expansion opportunities in new markets and service lines
Indu
stri
al •
•
TRC, a leading engineering, consulting and construction firm in the energy and environmental sectors, acquired NOVA Safety & Environmental, a provider of oil spill remediation and safety training servicesNOVA's 60+ employees and footprint in the Permian Basin enhance TRC's position in the rapidly expanding market for oil and gas environmental consulting
Staf
fing •
•
Addison Group, a professional staffing firm and portfolio company of Trilantic Capital Partners, acquired CVPartners, a staffing firm that specializes in executive search services for F&A, IT and HR job functionsWith offices in Seattle and San Francisco, CVPartners provides a West Coast presence that complements Addison's existing ten locations throughout the Midwest, South, Mid-Atlantic and Northeast regions
Logi
stic
s •
•
Radiant, a provider of non-asset based transportation and logistics services, acquired Trans-NET, a US-based provider of customized logistics solutions with significant operations in Russia's oil and gas industryRadiant will utilize Trans-NET's Russian affiliate, TNIL, to facilitate Eastern European market expansion, providing integrated logistics solutions to several key industrial sectors
BPO
•
••
Sodexo, a global facilities services firm, will acquire Motivcom, a 3rd party provider of incentive and loyalty programs; Sodexo plans to integrate the Company into its employee benefits and rewards subsidiarySodexo will pay approximately $59 million (or 8.0x LTM EBITDA) for the CompanyMotivcom's incentive program expertise in the UK can be leveraged across Sodexo's global customer base
Tab - 1. Headline Transactions Page 1
Business Services MonthlySeptember 2014 in Review
Business Services Headline Transactions
7.9%
-3.4% -3.8%
15.1%
10.0%
(10%)
(5%)
—
5%
10%
15%
20%
25%
Facilities Industrial Staffing Logistics BPO
1-Ye
ar S
tock
Ret
urn S&P 500 Return
TM Capital’s Business Services Contacts
Celebrating our 25th Anniversary in 2014, TM Capital Corp. is a partner-owned investment banking firm based in New York, Boston and Atlanta, which has completed over 250 transactions with a combined value in excess of $16 billion. Since 1989, we have advised clients navigating a full range of critical transactions, including complex mergers, acquisitions, debt and equity financings, minority and majority recapitalizations, restructurings, and advisory services including takeover defense, fairness and solvency opinions, valuations, as well as litigation support. We have built deep industry expertise in key sectors and our team regularly publishes research highlighting current and emerging trends in targeted industries and markets. TM Capital is a member firm of M&A International Inc., the world’s leading alliance of mid-market investment banks with over 600 M&A professionals in 40 countries. Members have closed over 1,300 transactions totaling more than $75 billion in value over the past five years. For more information, visit www.tmcapital.com.
James S. Grien President and CEO
[email protected] 404-350-7943
Jarrad S. Zalkin Managing Director
[email protected] 617-259-2207
Michael P. Locker Managing Director
[email protected] 404-995-6252
Facilities Services Transactions (Sept. 2014) Industrial Services Transactions (Sept. 2014)
Staffing Services Transactions (Sept. 2014) Distribution & Logistics Transactions (Sept. 2014)
BPO Services Transactions (Sept. 2014)Target Acquiror Target Description
Benefits Resource LLC
Digital Benefit Advisors Inc
Operates as an employee benefits brokerage andconsulting company in the Southern California region
Everett James Inc Arthur J Gallagher & Co Provides management and employee benefitsconsulting services
Throgmorton UK Ltd
Capita Asset Services Ltd Provides financial and administrative outsourcingservices for the financial services sector in the US andUK
The File Annex Inc Access Information Management Shared Services
Provides records management services includingstorage, retrieval and delivery and electronic imagingconversion for paper documents
4. Transactions (for PDF)
Target Acquiror Target Description
Axeo LLC The Fahrenheit Group LLC
Operates as a professional services company thatprovides HR management effectiveness andoutsourced recruitment services
Redwood Global Inc S.I. Systems Ltd Offers contract staffing, permanent placement andcontract to permanent placement services
Kwik Jobs Inc Labor Smart Inc Provides temporary skilled and unskilled workers forgeneral contractors and related companies
Synergy Seven LLC Xtreme Consulting Group Inc
Provides contract technical placement, direct hiringand HR services in Arizona
4. Transactions (for PDF)
Target Acquiror Target Description
ISS Facility Services GmbH (Security Services Assets)
KÖTTER GmbH & Co Comprises security service contracts and assignmentsfor manned security services including static guardand patrol services
Sun & Sun Industries Inc
Eco-Shift Power Corp Provides energy efficient lighting services includingrelamping and retrofit services for businesses andgovernment facilities in the US
Svensk Bevaknings-Tjänst AB
Nokas AS Operates as a security company in Sweden thatprovides remote monitoring services and patrolling /stationary guarding
Groupe Cameron Inc
Terminix International Provides pest management services for a range ofindustries in Canada and internationally
4. Transactions (for PDF)
Target Acquiror Target Description
Natural Resource Group LLC
Environmental Resources Management Ltd
Provides environmental consulting services for energyprojects in the areas of feasibility, permitting and fieldsurveys and compliance
SABRE Health & Safety LLC
SafeBridge Consultants Inc (Sub. of Trinity Consultants)
Provider of full service health and safety consultingservices including chemical exposure assessment andindoor air quality testing
Muskeg Environmental Consulting Ltd
Gemini Corp Provides soil handling and reclamation services inCanada
Navus Environmental Inc
Vertex Resource Group Ltd
Provides environmental consulting services toupstream oil and gas, coal mining and governmentindustries in Canada
4. Transactions (for PDF)
Target Acquiror Target Description
CTL Logistics PKP Cargo Provides rail and intermodal transportation servicesin Poland and internationally
Advanced World Transport
PKP Cargo Provides transportation and logistics servicesprimarily in Europe and the Middle East
Imperial Tankers Ltd
Suttons Transport Group Ltd
Provides transportation services for manufacturersand distributors, engaging in bulk road transport ofchemicals, gases and oils
Interlog USA Inc Network F.O.B. Inc Provides international and domestic transportationand shipping services
4. Transactions (for PDF)
EBITDA Multiples Over Time
9.6x
8.5x
10.7x
10.8x
9.5x
5.0x
6.0x
7.0x
8.0x
9.0x
10.0x
11.0x
12.0x
13.0x
14.0x
Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12 Q4 '12 Q1 '13 Q2 '13 Q3 '13 Q4 '13 Q1 '14 Q2 '14 Q3 '14
TEV
/ EBI
TDA
Facilities
Industrial
Staffing
Logistics
BPO
www.tmcapital.com
New York641 Lexington Avenue30th FloorNew York, NY 10022Tel: 212.809.1360
Boston200 Clarendon Street25th FloorBoston, MA 02116Tel: 617.259.2200
Atlanta15 Piedmont Center NE Suite 1010Atlanta, GA 30305 Tel: 404.995.6230