Acrow Limited · ASX:ACF
Acrow — Acrow Formwork & Construction Services — Merger or Acquisition (October 2019)
9 slides from Acrow's merger presentation, Oct 17, 2019
Slide 1: Acquisition of Uni-span Australia Pty Ltd
For personal use only Acrow Formwork & Construction Services Limited Acquisition of Uni-span Australia Pty Ltd 17 October 2019
Slide 2: Important Notice
Important Notice This presentation is provided for information purposes only. The information in this presentation is in a summary form, does not purport to be complete and is not intended to be relied upon as advice to investors or other For personal use only persons. The information contained in t
Slide 3: Acquisition Overview
Acquisition Overview ▪ Acrow to acquire Uni-span Australia Pty Limited (“Uni-span”) for $21.25m (pre- For personal use only earnouts), representing a multiple of 4.4x normalised FY19 EBITDA ▪ To be funded from expanded finance facilities with Westpac. Completion is expected on 31 October 2019 ▪ Earn
Slide 4: Business Strategy: Acquisition Meets Strategic Vision
Business Strategy Acquisition Meets Strategic Vision For personal use only Vision of becoming Earnings accretive the leading Recruit train and Organic Acquisitions Engineered retain the best Growth primarily across Formwork management and opportunities formwork solutions Hire engineering across Stat
Slide 5: Overview of Uni-span business
Overview of Uni-span business Uni-span is an Australian owned and operated Company, founded in Uni-span Revenue by Segment For personal use only Queensland in 2002 The Company is a leading provider of engineered formwork systems servicing primarily the Civil Infrastructure market and scaffold hi
Slide 6: Strategic Rationale
Strategic Rationale For personal use only New Products/Services New Clients/Markets Scale Benefits ULMA Industrial - shutdown Expanded revenue base Industrial scaffold Mining Amortise fixed costs over larger business Industrial labour hire Uni-mesh National Presence Value-driven offering Synergies F
Slide 7: Key Terms & Metrics
Key Terms & Metrics ▪ Consideration of $21.25m (pre-earnouts), representing 4.4x FY19 normalised EBITDA multiple For personal use only o An initial consideration of $16.25m, comprising cash of $12.75m and shares of $3.5m (10m shares issued at 35 cents per share1. escrowed for 12 months); and o A def
Slide 8: Financial Metrics
Financial Metrics FY19 Pro-forma Profit & Loss (‘000) Commentary For personal use only Year ended 30 June Acrow Uni-span Adjust. Combined Pro-forma Profit & Loss Revenue 70,010 34,400 104,410 EBITDA 11,550 4,800 16,350 • Uni-span FY19 revenue of $34.4m and normalised EBITDA of $4.8m Margin % 16.5% 1
Slide 9: Thank you
For personal use only Thank you
Acrow Formwork & Construction Services — Merger or Acquisition (October 2019) on 6ix