Wendel Se · EURONEXT:MF
Wendel — Merger or Acquisition (January 2022)
15 slides from Wendel's merger presentation, Jan 24, 2022
Slide 1: Acquisition of ACAMS
Acquisition of ACAMS 24 January 2022 2022 1
Slide 2: Transaction overview (1/2)
Transaction overview (1/2) On January 24, Wendel signed a binding commitment to acquire ACAMS, (Association of Certified Anti- Money Laundering Specialists or the "Company"), the global leader in training and certifications for anti- money laundering and financial crimes prevention professionals • O
Slide 3: A primary situation and corporate carve-out
Transaction overview (2/2) A primary situation and corporate carve-out Investment’s key characteristics • On January 24, Wendel announced an agreement with Colibri to acquire the Financial Services segment of Adtalem Global Education (NYSE: ATGE) for $1 billion • Upon closing, Wendel will acquire AC
Slide 4: ACAMS fits Wendel's 2024 capital deployment roadmap
ACAMS fits Wendel’s 2024 capital deployment roadmap Growing, resilient business with potential value creation related to ESG P A market-leading businesses with pricing power, barriers to entry and attractive long-term growth prospects P Value creation opportunity from organic growth and profitabilit
Slide 5: Largest international membership organization for Anti-Financial Crime professionals
Largest international membership organization for Anti-Financial Crime professionals ACAMS supports individuals and organizations who are dedicated to ending financial crime through thought leadership, continuing professional education, and its best-in-class peer network. The Company derives revenue
Slide 6: Investment Rationale
Investment Rationale Global leader with long established relationships in rapidly developing industry Long-term growth supported by mega trends of increasing regulation and spending on certifications and training (e.g. AML, cryptocurrency), and rising geographic penetration Attractive business model
Slide 7: A compelling financial profile
A compelling financial profile Expected performance LTM Sept 2021 High Revenue $83 million organic CAGR Expected Standalone EBITDA (1) $18 million (1) >20% EBITDA margin EBITDA to CF conversion ratio (2) : >75% Value creation anticipated from (i) long-term global growth in anti-money laundering comp
Slide 8: Good Resilience During the Pandemic, Accelerating Rebound
Good Resilience During the Pandemic, Accelerating Rebound Revenue (FY ending June 30), with 2018 as a reference year (100 index) (1) Pandemic -2.5% +9.4% +7.7% 139 +20.6% 121 127 117 Base: 100 Conference revenue 20% 19% (%) 14% 7% 10% 2018 2019 2020 2021 LTM Sept. 2021 8
Slide 9: The Anti-Money Laundering Environment
The Anti-Money Laundering Environnement Given the vast amounts being laundered every year, Anti-Money Laundering has become an increasingly prevalent matter that governments and large institutions have been keen to address Banks and other regulated institutions operate in complex regulatory environm
Slide 10: ACAMS has a Broad Global Footprint with Room for Further Penetration
ACAMS has a Broad Global Footprint with Room for Further Penetration Global Presence •ACAMS has a large, global membership base with >90,000 members across 175 countries •c. 60% of sales made out of the US •No single customer accounted for more than •Top 10 countries account for 71% 6% of revenue in
Slide 11: Wendel will help manage this transition to standalone business
Wendel will help manage this transition to standalone business ACAMS leadership and organization to remain in place No disruption to customer relationships or member engagement Wendel to support ACAMS’ development to a stand-alone business over first 12 months Certain administrative services to be p
Slide 12: A mission-driven company, fitting with Wendel's values
A mission-driven company, fitting with Wendel’s values A mission-driven, ESG-impactful business that provides training to help individuals and corporations identify and prevent money laundering, bribery, cyber crime, sanctions evasion, and other financial crimes A key player in fighting against pote
Slide 13: Wendel – Investing for the long term
Ny WENDEL ’ Investing for the long term Tr. ax . a ry, 4 bn I 4° = ACAMS»® 5 Ke @ . A) A global community ; ” dedicated to ending Got 2 financial crime > 7 ai
Slide 14: Reminder: NAV methodology since Dec. 31, 2020
Reminder: NAV methodology since Dec. 31, 2020 2021 main updates regarding unlisted assets Primarily valued with peers multiples sample, reviewed annually Transaction multiples and purchase offers may be used with application periods amended/ shortened in 2020 Valuation of a new acquisition, standsti
Slide 15: Disclaimer
Disclaimer • This document has been prepared by Wendel S.E. and its affiliates (“Wendel”) solely for use of this presentation, to be held on January 24, 2022. This document must be treated confidentially by attendees at such presentation or any other recipients and may not be reproduced or redistrib