D'ieteren Group Sa/nv · EURONEXT:DIE
D'ieteren Group Sa/nv — Merger or Acquisition (July 2021)
19 slides from D'ieteren Group Sa/nv's merger presentation, Jul 9, 2021
Slide 1: Acquisition of a 40% stake in TVH Parts
Acquisition of a 40% stake in TVH Parts Partnering to keep clients going & growing 9 July 2021 Change picture
Slide 2: Key highlights
Key highlights • D’Ieteren Group has signed an agreement to acquire a 40% stake in TVH Parts from the Vanhalst family. Closing is subject to customary merger control filings and regulatory approvals, and expected in the course of Q4 2021. • D’Ieteren Group is thus joining the Thermote family, one of
Slide 3: A strong fit
A strong fit D’Ieteren Group purpose TVH Parts attributes TVH Parts purpose 1 Global leader in spare parts distribution and value- “Our purpose is added services for many types of rolling equipment “We are committed Unique operating model driven by intellectual capital to build a family to deliv
Slide 4: Acquisition aligned with D'Ieteren Group's criteria
Acquisition aligned with D’Ieteren Group’s criteria Market Business model Management Deal structure - Large market - Proven and scalable business - Strong, ambitious and - Preference to be lead - Long-term sustainable growth model with global reach purposeful management teams shareholder with like-m
Slide 5: Overview of TVH Parts
Overview of TVH Parts Founded in 1969, TVH Parts is the leading worldwide provider of quality after-market parts for rolling equipment Market presence Geographic exposure Main figures #1 Globally % of sales, 2020 in material 81 branches in 26 countries handling Americas 37% #1 Globally 4,500+ employ
Slide 6: TVH Parts – presence by market segment
TVH Parts – presence by market segment Geography Europe North America APAC LATAM Middle East Africa Vehicle types Forklifts Warehouse MEWPs Telehandlers Tractors & Small earth- Other industrial equipment combines moving equipment1 equipment Customer Sales & service Resellers Rental companies End use
Slide 7: DIG to support TVH Parts' next growth chapter
DIG to support TVH Parts’ next growth chapter Reinforce TVH Preferred choice for customers & employees Parts’ leadership Extend & build global leadership position across existing markets Support new product introductions position Expand to new geographies and equipment segments Support bold
Slide 8: Key investment highlights
Key investment highlights 1 Leading global one-stop-shop for after-market parts of rolling equipment 2 Large, growing and resilient markets 3 Unique operating model and consolidation platform 4 Customer-centric approach with unique pricing intelligence 5 Strong leadership team and culture 6 Attracti
Slide 9: Leading global one-stop-shop
1 Leading global one-stop-shop Differentiated positioning Value-added services Global Global one- stop-shop Technical client support: - Extensive and unique look-up service - Helpdesk Geographic coverage Large OEM International specialist distributors Technical training to customers and employee
Slide 10: Large, growing and resilient markets
2 Large, growing and resilient markets Addressable market development, €bn CAGR Characteristics & trends Growth of underlying ’15-’19 ’19-’25 equipment fleet driven by growth in e-commerce and +4% 19.1 19.2 Tractors ~4% ~4% global material handling flows p.a. (MPA) 18.3 SEM (Small Earth-moving ~4% ~
Slide 11: Unique operating model
3 Unique operating model Ability to source qualitative parts Unmatched SKU availability from global vendor base Significant inventory In-house manufacturing & engineering activities PART AVAILABILITY PART SOURCING LOGISTICS INTELLECTUAL CAPITAL Highly automated Master database including
Slide 12: Customer-centric approach
4 Customer-centric approach TVH Parts value proposition Omnichannel approach Customer buying factors: TVH logo MyTotalSource Digital online 1. Wide assortment IRMN platforms 2. High quality MyBepcoFinder 3. Outstanding technical expertise 4. Enjoyable customer experience 5. Attractive prices I
Slide 13: Strong leadership team and culture
5 Strong leadership team and culture Leadership team with strong track record TVH values: We are One 17 21 5 P Pursue excellence 28 21 13 Dominiek Valcke Kristof Bolle Anne-Marie Rasschaert CEO Senior VP EMEA Chief Corporate Development A Act with joy Officer 3 2 2 20 27 16 Remain open R (-minded) M
Slide 14: Attractive financial profile
6 Attractive financial profile Revenue (€m) Main drivers: 1,213 1. Constantly growing equipment fleet 2. Segment/ geographical expansion LTM-May 3. Market share gains Adjusted EBITDA (€m) 4. M&A 250 5. Operational efficiency 6. Scale economies LTM-May Margin 20.6% Note: Belgian GAAP D’Ieteren Group
Slide 15: ESG: Sustainability is the essence of business
ESG: Sustainability is the essence of business Sustainability impact within the organisation… ... as well as broader impact Implementation of Developing TVH Nudge program university Keep existing machines running longer Fostering gender Reducing water equality in leadership consumption positions Red
Slide 16: Deal structure
Deal structure Offer & transaction details • D’Ieteren Group signed an agreement with the Vanhalst family to acquire a 40% stake in TVH Parts at an enterprise value of €3,650m, while the Thermote family will keep their 60% stake. • D’Ieteren Group equity stake will amount to €1,172m and will be fina
Slide 17: Conclusion
Conclusion Strong fit with D’Ieteren Group’s purpose and mission Aligned with D’Ieteren Group’s investment criteria around market, business model and deal structure Investment thesis relying on organic growth potential, operational improvement and M&A Strong value creation potential for all stakehol
Slide 18: Forward-looking statement
Forward-looking statement “To the extent that any statements made in this presentation contain information that is not historical, these statements are essentially forward-looking. The achievement of forward-looking statements contained in this presentation is subject to risks and uncertainties beca
Slide 19: Contact information
Contact information Investors Press Stéphanie Voisin Anne-Catherine Zoller stephanie.voisin@dieterengroup.com anne-catherine.zoller@dieterengroup.com T. +32 2 536 54 39 T. +32 2 536 55 65 M. +32 478 48 58 71 www.dieterengroup.com D’Ieteren Group Acquisition stake TVH Parts 19