Manpowergroup · NYSE:MAN
Manpowergroup — Merger or Acquisition (August 2021)
9 slides from Manpowergroup's merger presentation, Aug 24, 2021
Slide 1: Acquisition of ettain group
August 24, 2021 Acquisition of ettain group Exhibit 99.2
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains statements, including without limitation statements regarding anticipated timing and completion of the proposed transaction, anticipated results of the proposed transaction and the impact on our future financial and operating performance, the exp
Slide 3: Strategic Rationale
Strategic Rationale ManpowerGroup to acquire ettain group (ettain), one of the largest privately held IT resourcing and services providers in North America Will increase capability to provide IT resourcing and services across expanded industry verticals Will improve gross profit and EBITA margin pro
Slide 4: Acceleration of our Diversification, Digitization and Innovation (DDI) Strategy
Acceleration of our Diversification, Digitization and Innovation (DDI) Strategy Our Diversification strategy focuses on accelerated growth of higher margin businesses Our Experis brand revenues will move from $3.8 billion to $4.5 billion following this acquisition Global IT staffing market of $76 bi
Slide 5: ettain group Overview
ettain group Overview ettain Industry Vertical Composition IT Resourcing & Services 1 1 Pro forma results assume businesses ettain acquired occurred at the beginning of the period. $724 million in revenues, $75 million EBITDA for the twelve months ended June 30, 2021 on a pro forma basis National fo
Slide 6: Experis Revenues Post-acquisition
Experis Revenues Post-acquisition Combined Experis Business Will combine two leading IT professional services providers to offer clients a more integrated suite of IT and workforce solutions Will be integrated into Experis brand, ManpowerGroup’s business specializing in IT resourcing and services Cu
Slide 7: Acquisition Summary
Acquisition Summary Purchase price of $925 million in cash – no debt assumed ManpowerGroup funding with existing cash plus approximately $150 million from its revolving credit facility; intend to repay over 12 months On a tax basis, transaction will be primarily an asset acquisition with a tax basis
Slide 8: Acquisition Summary
Acquisition Summary Expected to be immediately accretive to EPS, excluding one time and integration costs (+10 cents Q4 2021, +50 cents in 2022) Cost synergies estimated at $10 million beginning in 2023 Transaction costs estimated at $15 million Integration costs estimated at $20 million during firs
Slide 9: Key Take Aways
Significantly advances our business mix diversification Acquiring a leader in IT resourcing and services to expand our capabilities Increases our presence in North America – the largest IT resourcing and services market in the world Improved mix of business will benefit from higher growth opportunit