Malibu Boats, Inc. · NASDAQ:MBUU
Malibu Boats — Merger or Acquisition (August 2018)
11 slides from Malibu Boats's merger presentation, Aug 22, 2018
Slide 1: Malibu Boats, Inc. Acquisition of Pursuit Boats
Exhibit 99.2 MALIBU BOATS, INC. ACQUISITION OF PURSUIT BOATS OUR MISSION: AT MALIBU BOATS WE CREATE THE ULTIMATE ON THE WATER LIFESTYLE. 1Exhibit 99.2 MALIBU BOATS, INC. ACQUISITION OF PURSUIT BOATS OUR MISSION: AT MALIBU BOATS WE CREATE THE ULTIMATE ON THE WATER LIFESTYLE. 1
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation includes forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Forward-looking statements can be identified by such words and phrases as “believes,” “anticipates,” “expects,” “intends,” “estimates,”
Slide 3: Transaction Announcement Summary
TRANSACTION ANNOUNCEMENT SUMMARY Acquire the assets of Pursuit Boats for $100 million Entry into one of the largest and fastest growing segments in the marine industry with a premium, proven brand Anticipated to be immediately accretive to FY19 (1) earnings per share (1) Excluding purchase accountin
Slide 4: Compelling Investment Thesis
COMPELLING INVESTMENT THESIS Strategic transaction expands Malibu’s premium brand offering into the saltwater outboard fishing market Saltwater outboard fishing market is one of the largest and fastest growing segments in the marine industry Broadens Malibu’s breadth of boat offerings, diversifies e
Slide 5: Pursuit Boats at a Glance
PURSUIT BOATS AT A GLANCE A Leader in the Saltwater Outboard Fishing Boat Market Proven Product Design Expertise Strong Reputation for Innovation and Quality High Growth Market with Momentum Numerous Opportunities for Growth and Profitability Enhancement Maintains a Loyal Customer Base THREE ICONIC
Slide 6: Pursuit Evolution
PURSUIT EVOLUTION Key Statistics ($MM) Product Offering Company Overview TTM June 2018 • 1974: S2 Yachts, Inc. (“S2”), parent company, is $124 Net Sales founded o Privately-owned manufacturer of luxury # of Boat powerboats, including inboard power yachts, 15 cruising and sport fishing boats Models •
Slide 7: Robust Product Offering
ROBUST PRODUCT OFFERING Center Console / Sport Dual Console • Central helm and open hull provide 360-degree • Superior seating on both sides of the boat provide access to the water comfortable lounge areas for many people • Ideal for fishing as anglers can walk from bow to • Versatile design ideal f
Slide 8: A Portfolio of Market Leading Brands
A PORTFOLIO OF MARKET LEADING BRANDS Saltwater outboard fishing Performance sport boats Sterndrive and outboard Boat Segments Served boats Dual console: #4 Market Position Performance sport boats: #1 Center console (24’ – 43’): #15 Sterndrive (24’ – 29’): #1 (2017) Offshore: #2 Dual console: (+7%) O
Slide 9: Financial Summary
9 FINANCIAL SUMMARY 99 FINANCIAL SUMMARY 9
Slide 10: Financial Summary
FINANCIAL SUMMARY • Acquiring the assets of Pursuit Boats for $100 million PURCHASE PRICE • Attractive purchase price multiple of ~6.5x EBITDA • Accretive to EPS in FY2019, excluding purchase accounting, acquisition costs EARNINGS • Impact to FY2019 depends on closing date, expected to close in the
Slide 11: Closing Comments
CLOSING COMMENTS • Acquisition of meaningful scale and opportunity • Premium brand in a large and fast-growing market segment • Consistent with our stated strategic acquisition approach • Further enhances and diversifies Malibu’s product offerings • Similar business model allows us to use our well d