Nibe Industrier Ab Class B · OMXSTO:NIBE_B
Nibe Industrier Ab Class B — Merger or Acquisition (June 2014)
13 slides from Nibe Industrier Ab Class B's merger presentation, Jun 23, 2014
Slide 1: NIBE to acquire WaterFurnace
NIBE to acquire WaterFurnace NIBE CEO Gerteric Lindquist/WaterFurnace CEO Tom Huntington Markaryd (SE)/Fort Wayne (USA) – June 23, 2014
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements made pursuant to the Safe Harbor provisions of the United States Private Securities Litigation Reform Act of 1995 and “forward looking information” within the meaning of Canadian /Securities laws that are based on management
Slide 3: Our vision
Our vision To create world-class solutions in sustainable energy 3
Slide 4: Transaction Highlights (1)
Transaction Highlights 1 (2) • WaterFurnace Renewable Energy, Inc. – A market leader of the U.S. residential geothermal heat pump heating and cooling solutions market – Company’s offering: geothermal heat pump heating, Select Key Products cooling, hot water, and control systems for residential, comm
Slide 5: Transaction Highlights (2)
Transaction Highlights 2 (2) • Creating a global leader in sustainable energy solutions – Enhanced market leadership and growth platform – Complementary operations – EPS accretive in year one • NIBE to acquire WaterFurnace in recommended all-cash deal – WaterFurnace Renewable Energy, Inc. – listed o
Slide 6: WaterFurnace profile: Unique go-to market strategy
WaterFurnace profile 1 (4) • Unique go-to market strategy Dealers Dealers Distributors Distribution Manufacturer’s Rep Manufacturer’s Rep OEM Network of premier Sell through Important channel Contract dealers across North distributors to for commercial manufacturing America ensure wider prod
Slide 7: WaterFurnace profile: Proven multi-channel strategy
WaterFurnace profile 2 (4) • Proven multi-channel strategy Dealer Network Approximately 3,000 dealers strategically 47 located throughout the United States 27 21 1 46 22 30 66 62 141 68 29 33 distributors in 22 states 10 13 65 168 46 5 19 4 55 57 104 388 233 11 97 11 Strong Manufacturer's Rep
Slide 8: WaterFurnace profile: Portfolio of market-leading branded products
WaterFurnace profile 3 (4) • Portfolio of well respected, market-leading branded products Inception in 1983 Exclusive brand for Australia-based JV in China distribution Over 373,000 Designs and Waterfurnace network systems installed manufactures line Shenglong HVACR Balanced approach
Slide 9: WaterFurnace profile: Sales by Segment and Region
WaterFurnace profile 4 (4) Sales by Segment Sales by Region (2013) (2013) International Commercial Canada 10% 3% 30% 70% 87% Residential United States 9
Slide 10: Transaction Effects: NIBE Pro forma Sales and EBIT
Transaction Effects 1 (2) NIBE Pro forma Sales NIBE Pro forma EBIT (2013 basis) (2013 basis) WaterFurnace WaterFurnace 8% 10% 92% 90% NIBE NIBE 10 Note: WaterFurnace sales and EBIT converted to SEK at a SEK/USD exchange rate of 6.73
Slide 11: Transaction Effects: NIBE Pro forma effects
Transaction Effects 2 (2) • NIBE Pro forma effects – Offer: Equity value of C$378 million (US$351 million or SEK 2,365 million) – Financing: Cash payment through existing credit facilities – Net debt/EBITDA*: 3.10 times (pro forma LTM basis as at December 31, 2013) – Pro forma 2013: net sales SEK 10
Slide 12: Summary Rationale
Summary Rationale 1. Creating a true global market leader – strengthened competitive industry position 2. North America platform – geographic expansion & diversification of growth potential 3. Access to valuable competencies and new technologies – leverage across NIBE Group 4. Strong brand, offering
Slide 13: To create world-class solutions in sustainable energy
To create world-class solutions in sustainable energy 13