Bird Construction Inc. · TSX:BDT
Bird Construction — Merger or Acquisition (June 2024)
22 slides from Bird Construction's merger presentation, Jun 10, 2024
Slide 1: Bird Acquisition Overview
Bird Acquisition Overview June 10, 2024 Bird Construction Inc. (TSX:BDT) Jacob Bros Acquisition Investor Presentation
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements and information (“forward-looking statements”) within the meaning of applicable Canadian securities laws. The forward-looking statements contained in this presentation are based on the expectations, estimates and projections of managem
Slide 3: Disclaimer: Terminology and Non-GAAP & Other Financial Measures
Disclaimer TERMINOLOGY AND NON-GAAP & OTHER FINANCIAL MEASURES Throughout this presentation, management uses certain terminology and financial measures that do not have standard meanings under IFRS and are considered specified financial measures. These include non-GAAP financial measures, non-GAAP
Slide 4: Unlocking Shareholder Value
Unlocking Shareholder Value Positioned to drive Trusted reputation with clients and partners TSX: BDT growth and Diverse services and self-perform scopes for profitability through complex projects with improving margins 5,000+ Team 2024 and beyond. Disciplined organic and acquisitive growth st
Slide 5: Significant Demand Trends in British Columbia for Public and Private Clients
Significant Demand Trends in British Columbia for Public and Private Clients Private and Government Investment BC Provincial $43.3B+ capital spending planned over next three years in BC Budget 2024, which includes investments in transportation, health, education, and housing Spending infrastructure
Slide 6: Jacob Bros Construction: At A Glance
Jacob Bros Construction: At A Glance Workforce of Robust talent Strong safety Proven commitment Durable and 350 salaried, hourly development track record to Indigenous diversified and craft program relationships client base Civil Special Projects Infrastructure • Focus on smaller, specialized projec
Slide 7: Jacob Bros Alignment with Infrastructure Spending in the BC Market
Jacob Bros Alignment with Infrastructure Spending in the BC Market The following slides highlight Jacob Bros work across key sectors, all of which have a significant outlook for public and private infrastructure investment. Jacob Bros Acquisition Investor Presentation 6
Slide 8: Transportation: Highways, Bridges and Structures
Transportation: Highways, Bridges and Structures BC 2024 Budget allocates $15.5 billion over the next three years for enhancing and redeveloping transportation networks. Hwy 1 Interchange Highway 1 - 264th Admirals & McKenzie Interchange Project • Excavation & demolition of • A component of the $2.3
Slide 9: Transportation: Airport Infrastructure
Transportation: Airport Infrastructure YVR 20-year capital plan worth $9.1B to expand and upgrade facilities to enhance capacity. YVR South Airport South Airfield Cargo Project Pavement Rehab • Part of a 5-yr realignment to • Concrete demolition & a cargo facility at YVR excavation • New taxiway & a
Slide 10: Ports & Ferry Terminals
Ports & Ferry Terminals Broad BC-wide strategy to increase port capacity and improve trade infrastructure. Centerm Expansion BC Ferries Project Maintenance Facility • 4-yr port expansion project to • Partnership with Bird on the expand handling capacity at Facility Redevelopment to expand Canada’s m
Slide 11: O&G, Mining & Aggregates
O&G, Mining & Aggregates Significant spending and expansion plans for major critical mineral mining and LNG development. Woodfibre LNG Hartland Landfill • Clearing and site prep Aggregate Production • Removal of existing infrastructure • Victoria, BC & concrete foundations • Heavy earth moving and b
Slide 12: Hydroelectric Power
Hydroelectric Power In 2024, BC Hydro announced a revised 10-year capital plan, increasing investments to $36B from $24B. BC Hydro Box Canyon Hydro Infrastructure Electric • Upgrades to existing 500kV • Run-of-river hydroelectric project transmission lines cross the Fraser • Multiple intake structur
Slide 13: Healthcare
Healthcare The BC 2024 budget allocates significant spending for healthcare, including $1.62 billion for expanded health services, $270 million for cancer care, and $354 million for senior care over three years. St. Paul’s Hospital New Surrey Early Works Hospital and BC • A $2.1B redevelopment to C
Slide 14: Upgrading Aging Utilities
Upgrading Aging Utilities Metro Vancouver budget >3.6B over 3 years to support restoration of utilities due to aging and capacity demands from the growing population. Oak Street Sewer Gilbert Trunk Upgrade Sewer, Richmond • Replacing aged sewer • Upgrading and twinning the infrastructure with new se
Slide 15: Special Projects
Special Projects Outlook for the construction sector remains positive through 2032, driven by energy transition, population growth, and infrastructure modernization demands. Canada Place Local Rail Yard Roofing Project • EV charging pads • Retrofitting the roofing • Reefer & substation pads structur
Slide 16: Transaction Overview
Transaction Overview Purchase Price and Financial Impact • Estimated aggregate consideration of $135M • For full year 2024, Jacob Bros is expected to generate approximately $300M of revenue and $37M of Adjusted EBITDA (1) • Existing Backlog(2) of approximately $350M • Expected to be accretive to Bir
Slide 17: Advancing Bird's Strategy to Build Out a National Full-service Infrastructure Vertical
Advancing Bird’s Strategy to Build Out a National Full-service Infrastructure Vertical Acquisition aligns with Bird’s M&A strategy • Jacob Bros is a full-service, self-perform civil contractor primarily serving BC with full-year revenues of approximately Provides Immediate $300M, robust project back
Slide 18: Combined Operations Overview
Combined Operations Overview In the past 5+ years, Bird has diversified its revenue building a Pro-forma 2023 Revenue Breakdown incl. Jacob Bros portfolio of complex projects FY2023 Revenue ~$2.8B, plus ~$300M Expected FY2024 Jacob Bros Revenue across industrial, buildings, and Industrial Buildings
Slide 19: A Highly Complementary Business Combination
A Highly Complementary Business Combination Full-Year 2024 Revenue ($B) Key Benefits 2024 Full Year Estimates(3) $3.5 • Jacob Bros is expected to $3.2 Adj. Adj. generate approximately $300M of Revenue EBITDA EBITDA revenue and $37M of Adjusted +9% BDT.TO ($M) ($M) Margin EBITDA(1) in full-year 2024
Slide 20: Acquisition Clearly Aligned with Bird's M&A Criteria
Acquisition Clearly Aligned with Bird’s M&A Criteria Strategic Criteria Achieves sector & geographic growth Infrastructure market in BC Enhances presence and capabilities in an existing geography New offerings complement Bird’s existing buildings business Cultural fit/leadership retention Stro
Slide 21: Key Takeaways
Key Takeaways Highly strategic, complementary acquisition aligned with Bird’s M&A criteria that 1 establishes the Company in BC’s high-demand infrastructure market and adds a skilled team with significant scale and diversification in the region Increases exposure to key secular tailwinds that positi
Slide 22: Thank you
Thank you Jacob Bros Acquisition Investor Presentation
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