Id Logistics Group · EURONEXT:IDL
Id Logistics — Merger or Acquisition (June 2013)
12 slides from Id Logistics's merger presentation, Jun 13, 2013
Slide 1: Acquisition of CEPL by ID Logistics
Acquisition of CEPL by ID Logistics 13 June 2013
Slide 2: Preliminary agreement signed to acquire CEPL
Preliminary agreement signed to acquire CEPL > ID Logistics signed a preliminary agreement on 12 June 2013 with CEPL’s shareholders and creditors to buy all of its shares > This acquisition is now subject to clearance by the French competition authorities > A closing date in July 2013 is anticipated
Slide 3: ID Logistics
ID LOGISTICS Present in 2012 rev. 12 countries €560m 10,000 2,600,000 permanent employees m² in warehouse space Revenues (€ m) 560 462 Organic 60% Retail growth 36% p.a. 310 386 35% Industry facilities in international France facilities 5% e-commerce 18 2001 2009 2010 2011 2012 3
Slide 4: CEPL – A major French player in contract logistics
CEPL – A major French player in contract logistics > Revenue of €180m1 > 27 sites > Present in 4 countries > 2,200 employees > 600,000m² operated incl. 332,000m² wholly-owned 1 2013 estimate 4 Acquisition of CEPL - June 2013
Slide 5: CEPL – A prestigious portfolio of customers
CEPL – A prestigious portfolio of customers > French specialist in highly- automated solutions for retail order fulfilment > A prestigious portfolio of customers in fragrances, textiles, electronics and home entertainment goods: Sony, Bouygues Telecom, Givenchy, Guerlain, Yves Rocher, Elizabeth Arde
Slide 6: ID Logistics/CEPL – Convergence, complementarity, differences
ID Logistics/CEPL – Convergence, complementarity, differences Convergence Complementarity Differences Complementary customer Low “asset-light” model Pure player in contract portfolio (only one (around 50% of property is logistics customer in common) wholly-owned) Contracts are long term Significant
Slide 7: ID Logistics + CEPL: many benefits for our customers
↗ ID LOGISTICS + CEPL: MANY BENEFITS FOR OUR CUSTOMERS A leader “pure player” in its Broader service offering with market tier-1 customers – Over €800m in 2013 pro forma revenues – From traditional logistics to highly technical and – 12,500 employees specialised logistics. – 168 facilities – A custo
Slide 8: A compelling value
A compelling value > The amount of the acquisition takes into account: – An equity value of €95.5m – A net operational debt of €20.0m primarily property leases > The enterprise value breaks down into: – €50.0m in operational activities – €65.5m in property assets representing 332,000m² in wholly-own
Slide 9: A balanced financing of the acquisition
A balanced financing of the acquisition > The acquisition is funded by: – €75m in bank debt repayable over 6 years – €4m in payments in new shares, i.e. 2% of ID Logistics’ share capital – €16.5m in ID Logistics’ available cash 9 Acquisition of CEPL - June 2013
Slide 10: Value-creating synergies
Value-creating synergies > Revenue synergies – CEPL’s momentum to be revitalised by ID Logistics’ sales and marketing efficiency – Ability to support CEPL’s customers outside Europe – Access for ID Logistics to new sectors of activity > Cost savings – Implement ID Logistics’ management processes – I
Slide 11: A tightly controlled and relutive deal
A tightly controlled and relutive deal > Operational integration capabilities – 85% of the facilities are located in France and Spain where ID Logistics’ teams are experienced in integrating new customers and new teams – Autonomous subsidiaries in Germany and the Netherlands with a solid management
Slide 12: Strategic benefits for ID Logistics
Strategic benefits for ID Logistics > French leadership in contract logistics extended > Expertise in the high-potential segment of retail order fulfilment solutions strengthened > Continued pursuit of a bold “pure player” strategy focused on international expansion and innovation. 12 Acquisition of