Rb Global, Inc. · TSX:RBA
Rb Global — Ritchie Bros. Auctioneers — Merger or Acquisition (August 2021)
14 slides from Rb Global's merger presentation, Aug 9, 2021
Slide 1: Acquisition of Euro Auctions Investor Presentation
Acquisition of Euro Auctions Investor Presentation
Slide 2: Forward looking statements and non-GAAP measures
Forward looking statements and non - GAAP measures Caution Regarding Forward - Looking Statements This presentation contains forward - looking statements and forward - looking information within the meaning of applicable US and Ca nadian securities legislation (collectively, “forward - looking state
Slide 3: Today's Speakers
Today’s Speakers The trusted global marketplace for insights, services, and transaction solutions for commercial assets. Ann Fandozzi Chief Executive Officer Sharon Driscoll Chief Financial Officer
Slide 4: Ritchie Bros. to Acquire Euro Auctions Financial Terms
Ritchie Bros. to Acquire Euro Auctions Financial Terms ~ £775 mm 2 Enterprise Value • Implied multiple of ~15.3x 2021E EBITDA 3 , including run - rate cost synergies • Meaningful pre - tax gross synergies of ~$13mm expected by end of 2023 • Transaction will be 100% cash and debt - financed with pro
Slide 5: Strategic rationale: customer experience, employee experience, scalable growth
Deliver the best customer experience in the industry Deliver the best employee experience Implement a modern architecture for the business on which we can scale & grow profitably Coordinate growth around a single, integrated inventory management system that is the foundation of our GTM Accelerate gr
Slide 6: Euro Auctions has a Strong Model for Sourcing Inventory
Euro Auctions has a Strong Model for Sourcing Inventory Deals *Approximate; Based on Full Year 2020 % of Equipment Imported into Country of Sale* • Euro Auctions has deep institutional relationships and knowledge on sourcing equipment and directing location of sale for optimal price realization • Co
Slide 7: Euro Auctions Business Overview
United Kingdom 68% Germany 15% Spain 2% United States 10% Dubai 3% Australia 2% Euro Auctions Business Overview Hammer Value: Sector Mix 1 Hammer Value: Geographic Mix 1 Business Description • Euro Auctions primarily operates unreserved auctions through an omnichannel platform in the commercial asse
Slide 8: Euro Auctions Historical Financial Overview
Euro Auctions Historical Financial Overview Hammer Value Total Revenue Sourced Return & Rate* • 2018 and 2019 margins lower due to initiating sourcing efforts in the US • 2020 benefited from strong price realization and demand • Historical growth supported by expansion of online platform auctions an
Slide 9: Combined Company Snapshot
Combined Company Snapshot* 2020 Pro Forma GTV Bridge 60% 26% 14% United States Canada International 55% 23% 22% United States Canada International Ritchie Bros Combined 2020 Pro Forma Revenue Bridge 2020 Pro Forma GTV Geographic Split 2020 Pro Forma Service and Inventory Revenue Split 59% 41% Servic
Slide 10: Financing plan and pro-forma capitalization
Financing plan and pro - forma capitalization *Non - GAAP measure; see appendix for reconciliation Deploying under - levered balance sheet to support growth • Ritchie Bros. has secured financing commitments to fund the acquisition until permanent capital structure can be put in place • Permanent str
Slide 11: Synergies
Synergies Gross Run Rate Synergies (US$ mm) by end of Year 2 Plan to deliver synergy opportunities: • General & Administrative, $10mm – Integration of sales, operations and support functions will reduce and streamline customer touch points and create increased efficiencies for both companies and cus
Slide 12: Excited to Welcome Euro Auctions to the Ritchie Bros. Family
Deliver the best customer experience in the industry Deliver the best employee experience Implement a modern architecture for the business on which we can scale & grow profitably Coordinate growth around a single, integrated inventory management system that is the foundation of our GTM Accelerate gr
Slide 13: Appendix: Reconciliation of Non-GAAP measures
Appendix • US GAAP – Reconciliation of Non - GAAP measures • The following tables reconcile non - GAAP measures referred to in this presentation to the most directly comparable GAAP measure r eflected in the Company’s financial statements.
Slide 14: _Asstandfor he months ended
_Asstandfor he 12 months ended Teneo, December 3, (GaS. Smilions, except percentage) 3021 00 3018 aig 31 ‘Shorten debe 32 a7 199, Bo Ba ‘Long tem debt 663 633 m3. 933 79 Dest oa 602 Tai 685 103 Lees Cash and cash gues as) G8 aD, ary gin ‘Less: Long-tem debtin escrow 555) Adjusted deo 3s 35 os ey D N
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