Suburban Propane Partners, L.p. · NYSE:SPH
Suburban Propane Partners, L.p — IPO Roadshow (April 2012)
21 slides from Suburban Propane Partners, L.p's IPO roadshow presentation, Apr 27, 2012
Slide 1: Presentation to Investors & Analysts: Acquisition of Inergy Propane
engi SE Suburban Propane Presentation to Investors & Analysts. ‘Acquisition of Inergy Propane
Slide 2: Presentation to Investors & Analysts Acquisition of Inergy Propane April 26, 2012
Presentation to Investors & Analysts Acquisition of Inergy Propane April 26, 2012
Slide 3: Forward-Looking Statements
Forward-Looking Statements 3 The following information contains "forward-looking statements," relating to our future business expectations and predictions and financial conditions and results of the operations. Some of these statements can be identified by the use of forward-looking terminology such
Slide 4: Introduction
Introduction Michael J. Dunn, Jr. President & Chief Executive Officer Michael A. Stivala Chief Financial Officer A. Davin D'Ambrosio Vice President & Treasurer 3
Slide 5: Agenda
Transaction Overview Overview of Suburban Overview of Opportunity Conclusion Questions & Answers Agenda 1
Slide 6: Transaction Overview
Suburban Propane Transaction Overview Sa
Slide 7: Overview of Transaction
Overview of Transaction Suburban Propane Partners, L.P. ("SPH") will acquire Inergy Propane, LLC and certain assets of Inergy Sales & Service Inc. ("Inergy Sales") (collectively, "Inergy Propane"), which together constitute the retail propane business of Inergy, L.P. ("NRGY") $1.8 billion, comprised
Slide 8: Contemplated Transaction Structure
Inergy Propane, LLC Interests Contemplated Transaction Structure 4 100% SPH Unit Distribution $600MM SPH Units Inergy Sales Retail Propane Assets Exchange NRGY Notes for newly issued SPH Notes and Cash Inergy, L.P. Inergy Midstream, L.P. Remaining Midstream Assets and Wholesale Propane Retail Propan
Slide 9: Strategic Rationale
Strategic Rationale Unique operating philosophy and platform well equipped to optimize integration and synergy opportunities Proven track record of managing cost structure and driving operating efficiencies Advanced systems platform that is stable and scalable Experienced and proven management team
Slide 10: Overview of Suburban
Suburban Propane Overview of Suburban Sa
Slide 11: Focused Business Strategy
Focused Business Strategy Driving operational efficiencies Streamlining/right-sizing our cost structure Enhancing the customer mix Maximizing customer growth and retention Internal Growth External Growth To deliver increasing value to investors through initiatives, both internal and external, that a
Slide 12: In 2005, Suburban set out to overhaul the way propane companies have done business
In 2005, Suburban set out to overhaul the way propane companies have traditionally done business Optimized the Operating Footprint Built economies of scale Rationalized assets and activities Streamlined regional & operational management structure Upgraded field management Leveraged IT Infrastructure
Slide 13: In 2011, Suburban embarked on "Project Focus"
In 2011, Suburban embarked on the next evolution of organizational change through "Project Focus" Further Refined the Operating Model Better Aligned for Customer Growth Leverage strengths to increase market share Realigned and refocused the regional sales force Clear delineation of responsibilities
Slide 14: Overview of Opportunity
Suburban Propane Overview of Opportunity
Slide 15: Expanded Operating Footprint
Combined Propane Customers (1) Managed Locations (1) Retail Propane Gallons Sold (1) States with Locations (1) Vehicles (1) Employees (1) 608,000 123 298,902 30 1,622 2,385 604,000 338 325,623 33 2,436 2,293 1,212,000 461 624,525 41 4,058 4,678 Expanded Operating Footprint 15 Inergy Propane Location
Slide 16: Estimated Impact of Inergy Propane Acquisition
Estimated Impact of Inergy Propane Acquisition Propane Industry Market Share (1) Pro Forma Propane Gallons by Region (1) Pro Forma Propane Gallons by Customer Type (1) Pro Forma Gross Margin by Segment (1) 17 As of fiscal year ended September 2011. $ in thousands
Slide 17: Significant Cost Savings Opportunities
Significant Cost Savings Opportunities Estimated Significant geographic overlap within existing Suburban footprint Deploy Suburban systems platform for enhanced routing, forecasting and customer relationship management Opportunity for more centralized approach for certain back office functions Lever
Slide 18: Conclusion
Suburban Propane Conclusion Sa
Slide 19: Conclusion
Conclusion 5 Unique operating philosophy and platform well equipped to optimize integration and synergy opportunities Proven track record of managing cost structure and driving operating efficiencies Advanced systems platform that is stable and scalable Experienced and proven management team Increas
Slide 20: Q&A
Suburban Propane Q&A
Slide 21: Unitholders and investors are urged to read the registration statement on Form S-1
21 Unitholders and investors are urged to read the Company's registration statement on Form S-1, along with any amendments or supplements thereto, when they become available, because they will contain important information about Suburban and the transaction with Inergy. You may obtain a free copy of
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