Wendel Se · EURONEXT:MF
Wendel — Merger or Acquisition (November 2011)
6 slides from Wendel's merger presentation, Nov 30, 2011
Slide 1: Wendel grants exclusivity to TE Connectivity for the sale of Deutsch
Wendel grants exclusivity to TE Connectivity for the sale of Deutsch November 30, 2011
Slide 2: Deutsch sale project
Deutsch sale project* Exclusive talks with TE Connectivity • TE Connectivity approached Wendel to make a firm offer for Deutsch • Wendel and the Painvin family have decided to enter into an exclusivity period to finalise the transaction project Context • TE Connectivity would acquire 100% of the sha
Slide 3: Deutsch in a nutshell
Deutsch in a nutshell Sales breakdown Present in over 25 countries Offshore 1% 9 factories worldwide 3,600 employees worldwide Industrial Aerospace & defense Division 43% 56% ~80% of connectors custom-made A world leader in harsh environments connectors Based on H1 2011 400 90 Half-year sales 350 80
Slide 4: TE Connectivity: An industrial buyer
TE Connectivity An industrial buyer • World leader in connectivity • $14.3 billion revenues • 18% EBITDA margin • Headcount : 95,000 people • Balanced geographic presence and strong distribution network • A diversified group with 3 main segments serving large attractive markets • Located near custom
Slide 5: Deutsch and TE Connectivity: A new development phase for Deutsch
Deutsch and TE Connectivity A new development phase for Deutsch Wendel acquisition of Deutsch • Acquisition to Carl Deutsch, Founder’ son, in June 2006 2006 • Wendel initial investment of $378 millions with the management ($42 m) • Acquisition multiple of 9.2x EBITDA (LTM) Business developments • Ne
Slide 6: Sale of Deutsch: A project strengthening Wendel's strategy
Sale of Deutsch A project strengthening Wendel’s strategy This project gives Wendel additional means to: • Accelerate the investment strategy • Pursue the deleveraging 2 key strengths in the current economic context November 30, 2011 6