Compass, Inc. · NYSE:COMP
Compass — Merger or Acquisition (December 2024)
11 slides from Compass's merger presentation, Dec 2, 2024
Slide 1: M&A Update - Compass to Acquire Christie's International Real Estate and @properties
M&A Update - Compass to Acquire Christie’s International Real Estate and @properties December 2, 2024
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation includes forward-looking statements, which are statements other than statements of historical facts, and statements in the future tense. These statements include, but are not limited to, statements regarding the proposed transaction, expected timeline, our exp
Slide 3: Projected Financial Information and Non-GAAP Financial Measures
Projected Financial Information This presentation contains certain projected financial information, including @properties’ Expected Year 1 Revenue, Expected Year 1 Pre-synergy Adjusted EBITDA and Expected Year 1 Adjusted EBITDA Margin, as well as Fully synergized Adjusted EBITDA multiple and cost syn
Slide 4: Transaction Overview
Transaction Overview ● Adds New / High-Margin Businesses: ○ Christie's International Real Estate Franchise (“Affiliate”) Business ○ Title & Mortgage operations in key markets Strategic ● Expands Total Addressable Market: Rationale ○ From US only to US & International ○ From serving agents only to serv
Slide 5: Christie's International Real Estate ("CIRE"): An Iconic Brand in Luxury Real Estate
Christie’s International Real Estate (“CIRE”): An Iconic Brand in Luxury Real Estate ● 100+ affiliates with ~30 Domestic and 70+ International affiliates in 50+ of the most desirable luxury markets/territories ● Unlocks International referral opportunities for Compass and CIRE agents *Affiliate geographie
Slide 6: A Best-in Class Owned-Brokerage Operation
A Best-in Class Owned-Brokerage Operation ● Consists of the @properties and Ansley brands ● @properties is the #1 Brokerage in Chicago by sales ● volume1 Ansley is the highest-end luxury brand in Atlanta and #8 ~3,6002 significantly increases Compass’ high-end agent and Owned-Brokerage in the Agents
Slide 7: Title and Mortgage Operation with Attractive Margins and Industry Leading Title Attach
Title and Mortgage Operation with Attractive Margins and Industry Leading Title Attach ● Adds strong integrated services brands in Proper Title & Proper Mortgage to portfolio ● Industry leading Title attach rates and Adj. EBITDA margins accretive to Compass averages ● Enhances Mortgage and Adds to T
Slide 8: A High-Quality Asset with Expected Pre-Synergy & Pre-Mid-cycle Margins of ~9-10%
A High-Quality Asset with Expected Pre-Synergy & Pre-Mid-cycle Margins of ~9-10%1 Financial Metric Owned-Brokerage1 Title1 Affiliate1 Consolidated1 Expected ~$450 ~$25 mln ~$25 mln ~$500 Year 1 Revenue mln mln Expected Year 1 Adj. EBITDA ~6.5-7.5% ~30% ~30-35% ~9-10% Margin (1) Based on Company expect
Slide 9: Transaction and Operational Details
Transaction and Operational Details ● Owned-brokerage & CIRE Affiliate brands to operate independently to Compass Operations ● Core management team to remain in place post-closing ● CIRE brand to be face of franchise operations ● Expected Year 1 Revenue: Approximately $500mln assuming 5.5% market volu
Slide 10: Summary: A Transaction that Creates Compelling Shareholder Value
Summary: A Transaction that Creates Compelling Shareholder Value Adds High-margin & “Sticky” Expands Addressable Market to: Franchise Revenue Stream to P&L 1. International; and 2. Serving Independent Broker Through Franchise Business Accelerates Inventory Strategy, Adds High-margin Integrated Provi
Slide 11: Investor Contact
Investor Contact Soham Bhonsle Investorrelations@compass.com