Gentrack Group Ltd · NZX:GTK
Gentrack — Merger or Acquisition (March 2017)
10 slides from Gentrack's merger presentation, Mar 29, 2017
Slide 1: Acquisition of Junifer
For personal use only G E N T R AC K G RO U P LT D ( GT K ) ACQ U I S I T I O N O F J U N I F E R 28 MARCH 2017 www.gentrack.com
Slide 2: Important Notice
For personal use only IMPORTANT NOTICE This announcement contains forward-looking statements. All forward looking statements reflect views only as at the date of this announcement, and should not be taken to be forecasts or predictions that those events will occur. Forward-looking statements often i
Slide 3: Transaction Overview
TRANSACTION OVERVIEW_ For personal use only • Gentrack has entered an unconditional agreement to acquire Junifer Systems Ltd ("Junifer") for an Enterprise Value of NZ$74.6m (£42.0m) • Junifer is a market leading utility Customer Information and Billing system provider for energy retailers in the UK
Slide 4: Overview of Junifer Systems
OVERVIEW OF JUNIFER SYSTEMS_ For personal use only • Market leading provider of customer information and billing software to utilities in the UK • Since going live with its first energy supplier in 2012, Junifer has grown its customer base to 25 utility customers • Junifer's technology provides new
Slide 5: Junifer Utility Life-Cycle Management Solution
JUNIFER UTILITY LIFE-CYCLE MANAGEMENT For personal use only SOLUTION_ 5
Slide 6: Strategic Rationale
STRATEGIC RATIONALE_ For personal use only • This acquisition positions Gentrack as a leader in the UK for utility billing and customer information systems – Junifer has grown rapidly to establish itself as a leading solution for start up utilities in the UK – Combined with Gentrack, the Group has 3
Slide 7: Financial Impact
FINANCIAL IMPACT_ For personal use only • Junifer is forecast to achieve revenue of £10.8m and EBITDA of £4.2m in the 2017 calendar year 1 • Junifer will contribute approximately six months earnings to Gentrack in FY2017 – acquisition settlement is expected to occur on 1 April 2017 • Gentrack expect
Slide 8: Transaction Financing
TRANSACTION FINANCING_ For personal use only • Enterprise value of NZ$74.6m (£42.0m) represents 10x EV / CY2017 EBITDA2 Enterprise value £42.0m / NZ$74.6m Purchase price4 £44.0m / NZ$78.1m • The Junifer acquisition will be funded by: Sources – a placement of NZ$35.5m to HgCapital at NZ$3.72 per shar
Slide 9: Overview of HgCapital
OVERVIEW OF HgCAPITAL_ For personal use only • HgCapital is a leading global investor in application software businesses, with c. £9bn in funds under management • It has invested in more than 25 "platform" software businesses and more than 200 "bolt-on" acquisitions over the last 20 years • It has d
Slide 10: Timetable
TIMETABLE_ For personal use only Announcement 28 March 2017 HgCapital placement settlement 30 March 2017 Junifer vendor placement settlement 1 April 2017 Junifer acquisition settlement 1 April 2017 • The Junifer vendors have agreed to a 24-month voluntary escrow arrangement which restricts them from