Weststar Industrial Ltd. · ASX:WSI
Weststar Industrial — Merger or Acquisition (November 2019)
21 slides from Weststar Industrial's merger presentation, Nov 26, 2019
Slide 1: Strategic Acquisition of Alltype Engineering
Strategic Acquisition of Alltype Engineering November 2019 (ASX:WSI) Well Positioned for Project & Growth Opportunities Across Key Industrial Markets 1
Slide 2: Introduction
INTRODUCTION WHO WE ARE WestStar is an Australian industrial services company providing engineering, construction and mining services to the resources, energy and infrastructure sectors. WHAT HAVE WE DONE WestStar has delivered sustainable growth with a focus on driving profitability across the grou
Slide 3: WestStar at a Glance - A Success Story
WESTSTAR AT A GLANCE - A SUCCESS STORY March 2017 August 2017 June 2019 November 2019 Establishment of current Acquisition of engineering Revenue reaches $28.6M and Combined FY20 Order Book experienced board and contractor SIMPEC EBITDA of $1.4M of $42M as 31/10/192 management team July 2016 June 20
Slide 4: Synergistic Operating Divisions
ALLTYPE ACQUISITION PROVIDES DIVERSIFICATION AND SCALE Engineering, Construction and Mining Services: SYNERGISTIC ● Structural Mechanical & Piping (SMP) ● Electrical & Instrumentation (E&I) OPERATING ● Civil ● Capital construction project delivery DIVISIONS ● Asset Management Services ● Earthworks ●
Slide 5: SIMPEC Overview - WestStar Current Offering
SIMPEC OVERVIEW - WESTSTAR CURRENT OFFERING Structural – Instrumentation – Mechanical – Piping - Electrical - Civil “Lead positively, create teams and be like no other” Structural, Mechanical, Piping (SMP) Civil, Structural, Mechanical, Piping, Design and Electrical and Instrumentation (E&I) - Tianq
Slide 6: Alltype: A Transformational Acquisition
ALLTYPE: A TRANSFORMATIONAL ACQUISITION Alltype provides workshop fabrication, site installation, construction and maintenance services to the Oil & Gas, Water, Power Generation, Infrastructure, Mining, Resources, Utility, Petrochemical and Defence industries, in both the private and public sectors:
Slide 7: Alltype Engineering: A Western Australian Success Story
ALLTYPE ENGINEERING: A WESTERN AUSTRALIAN SUCCESS STORY ● Since 1985, Alltype has provided workshop fabrication, site installation, construction and maintenance services across almost every industry in Australia. Alltype has a current workforce of around 120 personnel ● Significant steel fabrication
Slide 8: Alltype Manufacturing Facilities
ALLTYPE MANUFACTURING FACILITIES Alltype’s head office and state-of-the-art manufacturing facilities are located in Naval Base, Western Australia, providing excellent proximity to rail, road and port transport infrastructure and ready access to supply chain support and services. ● 23,300m2 site incl
Slide 9: Alltype Brings Diversified Client and New Market Sectors
ALLTYPE BRINGS DIVERSIFIED CLIENT AND NEW MARKET SECTORS FY19 REVENUE (%) Infrastructure Oil & Gas and Water / Petrochemicals Infrastructure 14% 30% 25% Mining & Mining & Minerals Minerals 45% 86% The Alltype acquisition diversifies WSI’s Revenues & Earnings, Expanding its Client Base and Market Seg
Slide 10: Combined Group FY20 Current Order Book Snapshot
COMBINED GROUP FY20 CURRENT ORDER BOOK SNAPSHOT $59M $42M $30M ✔$42M Combined FY20 Orderbook at 31 October 2019 $17M ✔Order Book equal to ~72% of combined FY19 Revenue ✔Order Book doesn’t include work delivered in 1QFY20 $25M $29M 10
Slide 11: Complementary Strengths
COMPLEMENTARY STRENGTHS “The combination of WestStar and Alltype provides for greater diversity in varying disciplines and proven client relationships” - WestStar CEO Robert Spadanuda OPERATIONAL EXCELLENCE DIVERSIFICATION Track-record of delivering National customer base and across a multitude of p
Slide 12: Combined Group Capabilities
COMBINED GROUP CAPABILITIES + NEW MARKETS FOR WESTSTAR NEW CAPABILITIES FOR WESTSTAR TURNKEY PROJECT CAPABILITIES Oil & Gas Processing - Pipe, Plate & Structural Gas Compressor Stations Water Infrastructure Steel Pipeline Offtake Facilities Mining and Minerals Fabrication - Carbon and Stainless Stee
Slide 13: Alltype Experience: Oil & Gas
ALLTYPE EXPERIENCE: OIL & GAS Pluto Compressor Station SMP and E&I Murrin Delivery Station Upgrade Murrin Offtake Station Upgrade Fabrication and Construction Works Project – CSMPEI Works Project – CSMPEI Works Agnew Gas Pipeline Facilities Tanami Gas Pipeline Skid Package Beharra Springs Mercury Fi
Slide 14: Alltype Experience: Petrochemicals, Mining, Water, Transport
ALLTYPE EXPERIENCE: PETROCHEMICALS, MINING, WATER, TRANSPORT Stage 2 Tianqi Lithium Hydroxide Newmont Tanami Expansion Project Desalination Plant - Reverse Osmosis Processing Plant Tankwork Package Tankwork Package Racks Nowergup Maintenance Facility – Woodman Point Wastewater Northlink WA stage 2 P
Slide 15: Alltype: Transaction Summary
ALLTYPE: TRANSACTION SUMMARY Overview: ● Alltype Engineering is a leading Western Australian provider of workshop fabrication, site installation, construction and maintenance services. ● Privately owned and founded in Western Australia in 1985. Transaction Summary: ● WestStar to acquire 100% of the
Slide 16: Pro-Forma Capital Structure
PRO-FORMA CAPITAL STRUCTURE Current Capital Structure Post-Acquisition Capital Structure Share Price1: $0.024 Share Price1: $0.024 Shares on Issue: 615.8M Shares on Issue4: 862.7M Market Capitalisation: $14.8M Market Capitalisation: $20.7M FY19 EBITDA: $1.4M FY19 EBITDA: $3.3M Cash2: $8.9M Cash2: $9
Slide 17: Strengthened Board & Management Team
STRENGTHENED BOARD & MANAGEMENT TEAM Philip Re Bert Mondello LayAnn Ong Robert Spadanuda Non Executive Chairman, Non Executive Director, Non Executive Director, Chief Executive Officer, WSI WSI WSI WSI Director of diverse publicly Over 20 years experience Experienced entrepreneur & Experienced senio
Slide 18: Transaction Indicative Timetable
TRANSACTION INDICATIVE TIMETABLE Event Date ASX announcement of Acquisition 13 November 2019 Despatch of Notice of Meeting for approval of issue of Shares as consideration 22 November 2019 for the Acquisition Meeting of WestStar shareholders to approve the Acquisition 24 December 2019 Satisfaction (
Slide 19: Alltype Engineering
ALLT YR & ENGINEERING
Slide 20: Disclaimer
DISCLAIMER This presentation has been prepared by WestStar Industrial Ltd (ACN 119 047 693) (the Company). It should not be considered as an offer or invitation to subscribe for or purchase any shares in the Company or as an inducement to make an offer or invitation to subscribe for or purchase any
Slide 21: Investor Enquiries / Media Enquiries / Office
Investor Enquiries: Media Enquiries: Office: Philip Re – Chairman Team Corporate Group Suite 1, 437 Roberts Road, E: pre@weststarindustrial.com.au Henry Kinstlinger Subiaco, WA 6008 P: +618 9466 9018 E: wsi@teamcorp.media P: +618 9466 9018 P: +61 418 613 028 E: info@weststarindustrial.com.au Robert
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