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2018 Highlights 2018 Year-End Summary the Sun Transformation System 2018 HIGHLIGHTS 2018 YEAR-END SUMMARY THE SUN TRANSFORMATION SYSTEM 2018 came to an end in much the way it began, with a concentrated amount of Sun Capital looks to collaborate with management teams to leverage their deal activity. At the start of 2018, we invested in one new platform investment, experience and uses The Sun Transformation System - a dynamic set of tools – ClearChoice, while successfully exiting Robertshaw, Aclara, and Albéa. These three to help management teams tackle nearly every challenge in a systematic, exits had a combined enterprise value of $3.5 billion and all three were among rigorous, and comprehensive way. our five largest profit dollar exits in our 24+ year history. At the end of 2018, we closed two new platforms: Tier One Relocation and StonePoint Materials, with a DIRECT TOOLS ENABLER TOOLS combined investment of $212.6 million. Our existing portfolio companies also made significant progress last year, and • Superior Product/Service Offerings • Establish Priorities strengthened their business positions through add-on acquisitions and expanding • Pricing Excellence T • Align Team with Priorities R E E E CU A their leadership teams, aligning with their Sun Transformation System objectives • Sales Force Efficiency & Effectiveness H U L M • Culture Building G N T I E U & R H V to facilitate improvement. • Digital Marketing & Selling E E • Project Management Teams R Other highlights for 2018 included: PORTFOLIO COMPANY Completing four platform and ten add-on acquisitions L O C O W T S Realizing ~$1.8 billion of gross proceeds across the portfolio E A S S R E E • Procurement Excellence T R C • Financial Reporting S G O Completing 18 financings for approximately $1.5 billion • Continuous Improvement PR • Value Realization Processes • Facility & Footprint Optimization • Exit Preparation Process Promoting Melissa Klafter and Mark Hajduch to Managing Directors on • Spend Benchmarking & Prioritization • Sun Capital Partners Committees our infrastructure team As we enter 2019, the momentum of our transaction activity continues. Thus far in 2019, we have exited Elix Polymers, generating a gross return of 8.4x MoC Find out more about The Sun Transformation System by watching the video at and returning $218.6 million1 in gross proceeds. We have also completed two new platform acquisitions: Unico Technologies Group, a corporate carve-out www. suncappart.com/transforming-potential-into-results from Regal Beloit, and Simply Beautiful Smiles, a consumer healthcare regional dental service organization (“DSO”). We see many opportunities ahead in 2019, WATCH CASE STUDIES and our teams are eager to continue sourcing high-quality transactions across our targeted sectors. As always, we owe our success to the hard work and commitment of our Aclara colleagues, portfolio company management teams and the support of our https://suncappart.com/aclaracasestudy/ investors and intermediaries. Albéa We thank you for your continued support. https://suncappart.com/albeacasestudy/ Marc and Rodger Robertshaw Co-CEOs https://suncappart.com/robertshawcasestudy/ 1 A portion of the proceeds may have been realized in prior years. 2018 HIGHLIGHTS 1 2018 IN REVIEW 2018 IN REVIEW 4 PLATFORM ACQUISITIONS Company Name: Industry: ClearChoice Healthcare ESIM Chemicals Chemicals PLATFORM StonePoint Materials Building Products ACQUISITIONS » 4 Tier One Relocation Government Services 11 EXITS ADD-ON ACQUISITIONS » 10 Company Name: Industry: Aclara General Industrial CAPITAL Albéa Packaging INVESTED » $600 Million Bundy General Industrial Coveris Americas Packaging Coveris Rigid Packaging Demilec Building Products EXITS Flavor 1st Food & Beverage » 11 Heartland Automotive Services General Industrial Kraco Automotive Robertshaw General Industrial REALIZED Rowe General Consumer GROSS » Billion PROCEEDS $1.8 10 ADD-ON ACQUISITIONS FINANCINGS Company Name: Acquired by: » AfriFlora Flamingo Horticulture COMPLETED $1.5 Billion Chemplast Coveris Americas Knight Horizon Services Mattress More / Furniture Liquidators FFO Home Philippe Vuillermoz C&K Scotch & Soda Belgian Distributor Scotch & Soda Scotch & Soda US Distributor and Franchisee Scotch & Soda ServiceMark Horizon Services Several Warren Evan Stores* Dreams Water Works Horizon Services *Acquisition of the trade and assets. 2018 HIGHLIGHTS 2018 HIGHLIGHTS 2 3 SPOTLIGHT PLATFORM ACQUISITION OTHER 2018 PLATFORM ACQUISITIONS Industry: Chemicals Headquarters: Austria Business Description: ESIM Chemicals Industry: Healthcare is a leading European Headquarters: United States specialty chemical manufacturer and crop protection Business Description: contract manufacture ClearChoice is the only pure-play, national provider of organization (“CMO”). same-day dental implant services in the U.S. Investment Overview: Opportunity to implement components of the Sun Transformation System (“STS’’) to allow for increased rate at which successful new centers can be opened Further opportunity to increase sales via improved facility productivity Industry: Industry: Government Services Building Products Headquarters: Headquarters: Potential to increase customer acquisition efficiency and effectiveness via improved inbound and outbound calling practices, United States United States implementation of new intelligent scheduling, Business Description: Business Description: and development of a professional referral program Tier One Relocation StonePoint Materials is a leading provider is a leading producer of of outsourced logistics construction aggregates, and services supporting asphalt and related U.S. military personnel construction services. relocations. 2018 HIGHLIGHTS 2018 HIGHLIGHTS 4 5 SPOTLIGHT EXIT OTHER 2018 EXITS Industry: Industry: Industry: Packaging General Inustrial Packaging Headquarters: Headquarters: Headquarters: France Italy United States Industry: General Industrial Headquarters: United States Rigid Type of Buyer: Strategic Industry: Industry: Industry: Exit Date: February 2018 Packaging Building Products Food & Beverage Headquarters: Headquarters: Headquarters: Business Description: Germany United States United States Aclara is a leading supplier of smart infrastructure solutions to electric, gas and water utilities Value Creation: Since acquisition in 2014, Aclara has more than quadrupled EBITDA Industry: Industry: Industry: via several initiatives including: General Industrial Automotive General Industrial Developing new product lines and capabilities Headquarters: Headquarters: Headquarters: United States United States United States Implementing procurement excellence and investing in Research and Development Completing four add-on acquisitions, including GE’s global electric meter business Industry: General Consumer Headquarters: United States 2018 HIGHLIGHTS 2018 HIGHLIGHTS 6 7 SPOTLIGHT ADD-ON ACQUISITIONS OTHER 2018 ADD-ON ACQUISITIONS Industry: Industry: Industry: Consumer Goods Packaging Business Services Acquired by: Acquired by: Acquired by: Flamingo Horticulture Coveris Americas Horizon Services Headquarters: Headquarters: Headquarters: The Netherlands Ecuador United States Acquires: US Distributor and Franchisee & HQ: Atlanta, GA HQ: King of Prussia, PA HQ: Fort Lee, NJ Belgian Distributor Industry: Industry: Industry: Industry: Business Services Retail General Industrial General Consumer Investment Overview: Acquired by: Acquired by: Acquired by: FFO Home C&K Scotch & Soda Since inception in 2017, Horizon has completed six add-on acquisitions Headquarters: Headquarters: Headquarters: United States France United States & Belgium All three 2018 acquisitions allow Horizon to expand into new geographies and continue to grow customer base Several Warren Evans Stores Opportunity to implement best practices (Acquisition of and marketing initiatives to drive growth the trade and assets) Industry: Industry: Industry: Potential for savings from procurement synergies Business Services Retail Business Services and other operational improvement initiatives Acquired by: Acquired by: Acquired by: Horizon Services Dreams Horizon Services Headquarters: Headquarters: Headquarters: United States United Kingdom United States 2018 HIGHLIGHTS 2018 HIGHLIGHTS 8 9 2018 FINANCINGS SELECT 2018 FINANCINGS Financing Type: Financing Type: Financing Type: Senior Secured Senior Secured Factoring Amount Financed: Amount Financed: Amount Financed: $270,000,000 €238,000,000 €75,000,000 FINANCINGS » 18 Financing Type: Financing Type: Financing Type: Senior Secured Notes Senior Secured Asset Based 2018 AMOUNT Amount Financed: Amount Financed: Amount Financed: FINANCED » $1.5 Billion €310,000,000 €41,000,000 $145,000,000 Financing Type: Financing Type: Financing Type: Senior Secured Senior Secured Asset Based Amount Financed: Amount Financed: Amount Financed: $90,000,000 $60,500,000 $80,000,000 2018 HIGHLIGHTS 2018 HIGHLIGHTS 10 11 INDUSTRY FOCUS SELECT CURRENT PORTFOLIO NORTH AMERICA EUROPE AMES Taping Tools BTX Group Arrow Tru-Line Dreams Bar Louie ESIM Chemicals Boston Market Famosa C&K Flabeg ClearChoice Flamingo Horticulture FFO Home Flexitech Horizon Fresh-Pak Chilled Foods Johnny Rockets Scotch & Soda Regal Drive Technologies Tier One Relocation Trulite Glass & Aluminum Simply Beautiful Smiles CONSUMER INDUSTRIAL OTHER Smokey Bones StonePoint Materials Unico Technologies Drive General Consumer General Industrial & Aerospace & Defense Windsor Fashions Food & Beverage Distribution Business Services Restaurants Building Products Energy/Oil & Gas Retail & Direct Auto & Heavy Duty Healthcare to Consumer
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