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An Introduction to Platinum Equity An Introduction to Platinum Equity January 2019 Copyright © 2019 Platinum Equity, LLC. All Rights Reserved. “Mergers. Acquisitions. Operations.” is a service mark and “M&A&O” and “Platinum Equity” are registered service marks of Platinum Equity, LLC. Other trademarks and service marks belonging to affiliates of Platinum Equity and appearing herein are the property of such affiliates. It is not Platinum Equity’s intention to claim as its own any third-party trademark or service mark that may appear in this material. Platinum Equity at a Glance Assets Under Acquisitions Portfolio Overview Management Since 1995 Revenue Founded in 1995 by Tom Gores, an entrepreneur $13B 250+ $31B+ and business operator Headquartered in Los Angeles with offices in Boston, Greenwich, New York, London, and Fund History Singapore Highly differentiated investment approach: M&A&O® Pre-Fund 1995-2004 $500M+ • Fully integrated, operations intensive, execution-focused • Large team of in-house operations specialists Fund I 2004 Vintage $700M Experienced and stable leadership team Fund II 2007 Vintage $2.75B Proven track record and cycle-tested over more than 20 years Fund III 2012 Vintage $3.75B Current Investment Vehicles Fund IV 2016 Vintage $6.5B Portfolio company revenue as of September 30, 2018. Pre-fund cash invested and Platinum Equity Capital Partners Funds I, II, III, and IV; and Platinum Equity Small Cap total capital commitments. Small Cap 2018 Vintage $1.5B 2 Broad Expertise and Global Reach ~40 Portfolio Companies with 140K+ Employees Across 7 Continents 25k+ 45k+ 65k+ 600+ 3k+ 6k+ 3k+ Reflects portfolio company headcount by continent as of September 2018. Excludes Ryerson and Key Energy. 250+ Industry Agnostic Approach Consumer / Retail Healthcare Media & Telecom Technology Finance Industrials Natural Resources 3 A Flexible Investment Style Investment Criteria Enterprise Value $100M–$5B+ Businesses with Operational Opportunities Historical Equity Deployments • Well-positioned in mature markets • Long-term customers and stable revenue $0–$1.2B • Can grow through acquisitions or investment Capacity to Write Equity Check up to • Business models with significant variable $2B cost structure • Ability to drive operational improvements Experts in Complex • Positive or negative EBITDA Transactions Corporate Divestitures Public-to-Private Private Transactions Special Situations 4 Core Competency Acquiring Non-Core Divisions of the World’s Largest Corporations EUROPE Acquired the Network Acquired national Acquired Wyndham Acquired LifeScan from Power business from ingredient distributor JM European Vacation Rentals Johnson & Johnson for Emerson, rebranded as Swank as Conagra looked from Wyndham Worldwide. $2.1 billion. Vertiv. Emerson retained a to re-focus their company minority interest in the strategy. business. The “O” The “O” The “O” The “O” • Build on portfolio of product • Grow customer base and • Integrate operations of • Drive share and incremental and service offerings for enhance route density. businesses acquired in the value from digital data through power, thermal, and IT past. continued investment in • Partner with management management capabilities. technologies and software. team to improve operations. • Streamline operations and • Rationalize complex systems structures. • Increase online, retail, and • Seek opportunities to grow landscape inherited through Point-of-Care presence in the business through add-on • Cross-sell inventory across multiple acquisitions. select markets. acquisitions. brands and Europe. • Emphasize growth, speed, • Improve operations and agility, and profitability. supply chain. Status Status Status Status Current: Acquired November 2016 Current: Acquired July 2016 Current: Acquired May 2018 Current: Acquired October 2018 5 Creating Value Across Transaction Types Non-Core Divestitures/Complex Carve-Outs Provider of blood glucose Rebranded as Neovia Rebranded as Vertiv; Manager of European monitoring products and Logistics; Global integrated Provider of mission-critical vacation rentals solutions for the treatment logistics services provider EUROPE infrastructure technologies of diabetes Public-to-Private Equipment rental for Marine transport electronic test and U.S.-focused IT Metals processing and services and barge measurement solutions provider distribution manufacturing equipment Traditional Private Equity Global supplier of injection Rigid metal and Mission-critical services Portable sanitation molding equipment and plastic container for U.S. government and related site services to the plastics manufacturing customers service solutions industry Distressed Businesses/ Industries in Transition Rebranded as AEES; Australian print and Provider of wire harness Provider of wind turbine Local daily newspaper online directories and electrical distribution parts and services business products to automotive business OEMs and suppliers Special Situations Equipment rental Rebranded as Global manufacturer of services provider in HydroChem; Provider A market-leading North capacitors used in a the U.S. primarily of industrial services American oilfield broad range of serving commercial to the oil, gas, and services provider electronics contractors energy industries 6 The Platinum Difference: M&A&O® At Platinum Equity, the “O” is fully integrated into everything we do. People Process Results It starts with our people – real Integration at the root level Well-informed, seamless operators • In-house operations specialists dig in transactions • Large in-house team with real from the very beginning • Ability to close with speed and world industry experience • Unique expertise drives thoughtful certainty • They know how to drive change diligence and tailored solutions in • Understand business operations from the ground up often complex situations better • Hands-on expertise across many • Transition planning starts early, • Find value and opportunities where functional areas: ensuring seamless carve-outs others do not • Manufacturing • M&A stays engaged post-close to • IT build enterprise value M&A Execution • Distribution Operational toolkit Portfolio Operations & • Supply Chain Transitions Operations • Enhancing Revenue Growth • Procurement • Margin Expansion Company • Real Estate Management • HR & Benefits • Production Rationalization • Treasury & Cash Management • Pricing Strategy Unique ability to unlock value • Sales & Marketing • CapEx investments to take • Apply disciplined operational • Corporate Communications advantage of strategic opportunities improvements to build enterprise • Legal • Cost Reduction value • Tax • Restructuring • Collaborate with management to • Accounting • Digital Transformation empower them to drive change • Technology • Invest in systems for long-term growth 7 Evolution of the “O” Playbook Pre-Fund / Fund I Fund I / Fund II Fund II / Fund III Fund III / Fund IV Operations 4.0 Digital Transformation Operations 3.0 Growth, Pricing, and Margin Expansion Operations 2.0 Operational Excellence and Merger Integration Operations 1.0 Culture, Intensity, Cost, and Balance Sheet 8 Transacting with Industry Leaders 9 54 Deals in 2018 11 Platform Acquisitions PENDING Ball North American LifeScan Lonza Water Care Jostens Tinplate Division October 2018 Signed October 2018 December 2018 July 2018 Pitney Bowes DMT PLI Card Marketing Hunterstown Power Yak Access (BlueCrest) Solutions Generation Station July 2018 Document Messaging July 2018 June 2018 June 2018 Technologies Wyndham European Husky Injection WS Packaging Group Vacation Rentals Molding Systems EUROPE February 2018 May 2018 March 2018 15 Divestitures PENDING Embassy Crowne Plaza Suites St. Paul Terratest Exterion Media BlueLine Rental Melbourne Hotel Signed October December 2018 November 2018 October 2018 October 2018 2018 Worldwide Pittsburgh Verra Mobility Kymera Fabcon Flight Services Airport Marriott October 2018 October 2018 August 2018 October 2018 September 2018 Winc New Sheraton Suites DoubleTree Suites Schutt Sports MXD Group Zealand Fort Lauderdale Tampa Bay April 2018 April 2018 July 2018 March 2018 January 2018 Reflects deals signed or closed January 1, 2018 – December 31, 2018. 10 54 Deals in 2018 (contd.) 28 Add-On Acquisitions PENDING Mulberry Cottages Nature’s Calling, Inc. and EPC (Verra Mobility) Inmate Calling Solutions (Wyndham Europe) Fenn-Vac Environmental, April 2018 (Securus) October 2018 Inc. (USS) Signed April 2018 May 2018 HTA (Verra Mobility) Don’s Johns, Inc. (USS) March 2018 Mr. John’s (USS) August 2018 Interior Specialists, Inc. November 2018 (Merged with ILG)1 Lentz Milling Company Intellirent (Electro Rent) May 2018 (JM Swank) MEMS’ Service Division July 2018 February 2018 (Vertiv) J&J Portable Toilet & Septic November 2018 Amason’s Portable Toilets & Services, Inc. (USS) OfficeMax AUS Holding Tanks, Inc. (USS) (Winc/Staples ANZ) Paramount Porta-Potty May 2018 July 2018 February 2018 (USS) OfficeMax NZ (Winc) November 2018 iBlock (Compart) May 2018 Geist (Vertiv) Able Jons (USS) July 2018 February 2018 November 2018 American & Efird (Elevate Central Steel and Wire Textiles) Macfadden & Harvard Card Systems (Ryerson) May 2018 Associates (PAE) (PLI) July 2018 February 2018 October 2018 Hi-5 Port-A-Potties, Sterling Inc. (USS) GeoStructures PLAN ADRIA d.o.o Manufacturing (ILG) April 2018 (Terratest) (Wyndham Europe) June 2018 January 2018 October 2018 ZZZ Sanitation (USS) April 2018 Reflects deals signed or closed January 1, 2018 – December 31, 2018. 1 Post-merger, owned jointly by Littlejohn & Co. and Platinum Equity.
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