Ats Corporation · TSX:ATS
Ats — ATS Automation — Merger or Acquisition (April 2021)
11 slides from Ats's merger presentation, Apr 14, 2021
Slide 1: BioDot, Inc. Acquisition
BioDot, Inc. ACQUISITION TSX: ATA April 14th, 2021
Slide 2: Forward Looking Statements & Non-IFRS Measures
Forward Looking Statements & Non-IFRS Measures This presentation and the oral statements made during this meeting contain certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such forward-looking statements in
Slide 3: ATS to Acquire BioDot for US$84mm
ATS to Acquire BioDot for US$84mm ▪ Global manufacturer of precise, low volume fluid dispensing systems with proprietary technology and deep customer relationships ▪ Expands ATS Life Sciences offerings in existing and adjacent markets through the addition of an extensive product portfolio ▪ Strongly
Slide 4: Transaction Highlights
Transaction Highlights ▪ Purchase Price: US$84mm (~C$106mm) ─ 9.7x FY2022 expected EBITDA (8.4x including Year 3 synergies)(1) Transaction ─ 5.6x FY2020 EBITDA of US$15mm Details ▪ Funding: Debt (revolving credit facility) ▪ Pro-forma Leverage: 2.1x Net Debt / LTM EBITDA ▪ Estimated Close: Calendar
Slide 5: BioDot Overview
BioDot Overview ▪ Founded in 1994 and based in Irvine, California Attractive Financial Profile Figures in US$ Millions (1) ▪ Manufacturer of mission-critical, ultra-low volume, premium, non-contact and quantitative fluid $36.1 ATS Outlook FY2022+ dispensing and lab automation systems Market Growth →
Slide 6: BioDot Market Opportunity
BioDot Market Opportunity Core Emerging Lateral Flow Biochips Clinical Life Sciences & Genomics (Point-of-Care) (Point-of-Care) 2020-24 ~US$500mm ~US$160mm ~US$265mm ~US$1.2bn TAM (1) 2020-24 Mid-single Digit Double Digit High-single Digit Double Digit CAGR (1) BioDot’s • Products used to place • Pr
Slide 7: Strategic Rationale
Strategic Rationale ▪ Addition of premium & proprietary product Selected Synergy Opportunities portfolio in fluid dispending technology • Leverage early customer ─ ~20 patents entry point to provide Commercial turnkey automation ▪ Increases penetration in growing PoC and solutions clinical diagnosti
Slide 8: Application of the ATS M&A Playbook
Application of the ATS M&A Playbook What We Look For ▪ US$925mm addressable market with upside from ▪ Growth oriented emerging end markets Attractive Markets ▪ ▪ Low cyclicality Regulated spaces ✔ ▪ Well-positioned to capitalize on transition towards near-patient and at-home testing ▪ Strict industr
Slide 9: On the Move to Higher Value and Higher Growth
On the Move to Higher Value and Higher Growth 2013 (1) 2016 (1) Pro-Forma Today (1) Figures in Millions Figures in Millions Figures in Millions Energy Energy Food & Beverage $47 $174 $419 Consumer Life Sciences $92 $415 Life Sciences Consumer Energy $820 $685 Life Sciences $138 $1,011 $1,852 $289 $1
Slide 10: Key Takeaways
Key Takeaways Attractive industry fundamentals with BioDot holding a leading position in its ✔ key end markets Transaction broadens ATS Life Sciences offerings through the addition of a ✔ differentiated product portfolio Strong margin profile & compelling recurring revenue opportunity driven by ✔ co
Slide 11: ATS Automation TSX:ATA
ATS AUTOMATION | TSX:ATA