Malibu Boats, Inc. · NASDAQ:MBUU
Malibu Boats — Merger or Acquisition (January 2021)
11 slides from Malibu Boats's merger presentation, Jan 5, 2021
Slide 1: Acquisition of Maverick Boat Group
1 ACQUISITION OF MAVERICK BOAT GROUP January 2021
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS 2 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 3 Closed acquisition of Maverick Boat Group, a strong player in the attractive center console and bay boat space Highly complements Pursuit, expanding Malibu’s saltwater outboard offerings with four strong brands Increases production opportunity for a high-turn busin
Slide 4: Maverick Boat Group at a Glance
MAVERICK BOAT GROUP AT A GLANCE 4 A leader in the center console and bay boat categories Pioneer in flats and bay boats Diverse product offering in terms of both footage and price Loyal customer base Historically high growth market with momentum Opportunities for growth and profitability enhancement
Slide 5: Diverse Product Offering
DIVERSE PRODUCT OFFERING 5 FY 2020 Sales by Brand 13 models 9 models 20-35ft 20-27ft 54.3% 26.8% 6 models 17-21ft 18.9%
Slide 6: Maverick Boat Group Evolution
MAVERICK BOAT GROUP EVOLUTION 6 Key Statistics Company / Facilities Overview 28 # of Boat Models • Founded in 1984; Family / founder run • Designs and manufactures center console, dual console, bay and flats boats • A strong player in the center console and bay boats segments with a 70+ # of Dealers
Slide 7: Complementary Product Portfolio
COMPLEMENTARY PRODUCT PORTFOLIO 7 Domestic Registrations by Foot Length for Center Console and Dual Console 90% 80% 70% 60% • Pursuit also has a much 50% 40% higher average length 30% 20% • A combined Cobia/Pursuit 10% center console portfolio has 0% Pursuit Maverick Pro Forma MBUU Market similariti
Slide 8: A Portfolio of Leading Brands
A PORTFOLIO OF LEADING BRANDS 8 Cruising and sport, bay, and flats Boat Categories Served Performance sport boats Sterndrive and outboard Cruising and sport fishing boats fishing boats Center console: #8 Center console: #15 Category Position (a)(b) Dual console: #6 Performance sport boats: #1 Sternd
Slide 9: Financial Summary
FINANCIAL SUMMARY Gg PURSUIT Four Iconic Brands, One Great Company natiow <=XIS
Slide 10: Financial Summary
FINANCIAL SUMMARY 10 PURCHASE PRICE • Acquired the stock of MBG for $150 million • Anticipated to be accretive to EPS in FY2021, excluding EARNINGS purchase accounting, acquisition costs • Funded with cash on hand and through borrowings under FUNDING incremental loan facilities entered into in conne
Slide 11: Closing Comments
CLOSING COMMENTS 11 • Premium brand in a historically high-growth market with momentum • Highly complementary to Pursuit’s product models • Further enhances and diversifies Malibu’s product offerings • Probable synergies and opportunities between Pursuit and Maverick dealer platforms • Consistent wi