Imi Plc · LSE:IMI
Imi — Merger or Acquisition (December 2017)
9 slides from Imi's merger presentation, Dec 14, 2017
Slide 1: Acquisition of the Bimba Manufacturing Company
IMI plc | Analyst Pack Acquisition of the Bimba Manufacturing Company
Slide 2: An excellent strategic fit
IMI plc | Acquisition of the Bimba Manufacturing Company An excellent strategic fit ✓ The deal ▶ is perfectly aligned with IMI’s strategic ambitions Increases IMI Group’s US revenue percentage from 20% to 23% ▶ 1 ▶ Consistent with the ambition to expand in Industrial Automation ▶ Timing ideally suit
Slide 3: Bimba Manufacturing Company overview
IMI plc | Acquisition of the Bimba Manufacturing Company Bimba Manufacturing Company overview Sales ($m) ▶ $120m leading North American manufacturer of advanced 140 pneumatic products for Industrial Automation 120 120 111 109 109 ▶ Based in Chicago, Illinois with locations in the USA (7), 100 98 86
Slide 4: Bimba + IMI Precision Engineering – WIN:WIN
IMI plc | Acquisition of the Bimba Manufacturing Company Bimba + IMI Precision Engineering – WIN:WIN Enhanced capabilities & investment to improve WORLD-CLASS CAPABILITY performance LEADING PRODUCTS ▶ IMI operating systems ► Actuators (pneumatic, electric, hydraulic) ► Valves ▶ Lean processes ► Sens
Slide 5: Integration milestones & objectives
IMI plc | Acquisition of the Bimba Manufacturing Company Integration milestones & objectives Projects Deliverables 2018 Timeline Jan Mar Jun Sep Dec Implement ▶ First priority will be to Commercial present a unified Strategy approach to the market ▶ Phase I: ‘Fit for Growth’ Execute ▶ Phase II: Manu
Slide 6: An excellent strategic fit
IMI plc | Acquisition of the Bimba Manufacturing Company An excellent strategic fit ✓ Transforms IMI Precision Engineering’s position in the US Industrial Automation market ✓ Opens access to market-leading distributor network in the US ✓ Extends product portfolio and customer offering with mimimal o
Slide 7: Transaction details
IMI plc | Acquisition of the Bimba Manufacturing Company Transaction details ▶ Purchase consideration US$198m ▶ Cash-free, debt-free after expenses ▶ Estimated 2017 adjusted EBITDA multiple of 12.4x ▶ Funded through existing bank facilities ▶ Cash consideration still leaves strong balance sheet ▶ Es
Slide 8: Financials
IMI plc | Acquisition of the Bimba Manufacturing Company Financials $m FY 2015 Act FY 2016 Act FY 2017(E) Net sales 109.4 109.3 120.0 EBITDA1 13.9 13.3 16.0 EBITDA margin 12.7% 12.2% 13.3% EBITA1 9.4 8.4 10.7 EBITA margin 8.6% 7.7% 8.9% 8 Note 1: Adjusted EBITDA for excess ESOP contributions, ESOP a
Slide 9: IMI
IMI