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An Introduction to Platinum Equity January 2020 An Introduction to Platinum Equity January 2020 ©2020 Platinum Equity Advisors, LLC. All Rights Reserved. Mergers. Acquisitions. Operations., M&A&O® and Platinum Equity® are service marks or registered service marks of Platinum Equity Advisors, LLC and Platinum Equity, LLC (collectively, “Platinum Equity”). All other trademarks and service marks used in these materials are the property of their respective owners and/or affiliates of Platinum Equity. Platinum Equity at a Glance Assets Under Acquisitions Portfolio Management Since 1995 Revenue Overview $19B+ 250+ $32B+ Founded in 1995 by Tom Gores, an entrepreneur and business operator Fund History Headquartered in Los Angeles with offices in Boston, Greenwich, New York, London, and Singapore Pre-Fund 1995-2004 $500M+ ® Highly differentiated investment approach: M&A&O Fund I 2004 Vintage $700M • Fully integrated, operations intensive, execution-focused • Large team of in-house operations specialists Fund II 2007 Vintage $2.75B Experienced and stable leadership team Fund III 2012 Vintage $3.75B Cycle-tested over more than 20 years Fund IV 2016 Vintage $6.5B Current Investment Vehicles Small Cap 2018 Vintage $1.5B Portfolio company revenue as of September 30, 2019. Pre-fund cash invested and Platinum Equity Capital 2019 Vintage Partners Funds I, II, III, IV and V; and Platinum Equity Small Cap total capital commitments. Fund V $10B 2 Broad Expertise and Global Reach ~40 Portfolio Companies with 125K+ Employees Across 7 Continents ~24k ~34k 61k+ ~2k 3k+ 3k+ Reflects portfolio company headcount by continent as of September 2019. Excludes Ryerson and Key Energy. 200+ Industry Agnostic Approach Consumer / Retail Healthcare Media & Telecom Technology Finance Industrials Natural Resources 3 A Flexible Investment Style Investment Criteria Enterprise Value $100M–$10B 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 Acquired the Network Acquired Wyndham Acquired the North Acquired LifeScan from Power business from European Vacation Rentals American tin plate division Johnson & Johnson for Emerson, rebranded as from Wyndham Worldwide. from Ball Corporation. $2.1 billion. Vertiv. Emerson retained a Rebranded as Awaze. Rebranded as Ball minority interest in the Metalpack. business. The “O” The “O” The “O” The “O” • Build on portfolio of product • Integrate operations of • Drive, support and amplify • Drive share and incremental and service offerings for businesses acquired in the management identified value from digital data through power, thermal, and IT past. operational improvements. continued investment in management capabilities. technologies and software. • Streamline operations and • Improve distribution and • Rationalize complex systems structures. logistics via freight and • Increase online, retail, and landscape inherited through warehouse optimization, Point-of-Care presence in • Cross-sell inventory across multiple acquisitions. sourcing and overall plant floor select markets. brands and Europe. operations. • Emphasize growth, speed, • Improve operations and agility, and profitability. • Grow via organic opportunities supply chain. and revenue focused initiatives. Status Status Status Status Current: Acquired November 2016 Current: Acquired May 2018 Current: Acquired July 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 Traditional Private Equity Provides mission-critical Global supplier of injection Global aerospace and services to U.S. Portable sanitation molding equipment and defense supply chain government agencies and and related site services to the plastics service provider international organizations 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 Public-to-Private Equipment rental for electronic test and Provider of labels and Provider of electronics Metals processing and measurement packaging solutions manufacturing distribution equipment services (“EMS”) 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 better from the ground up often complex situations • Find value and opportunities where • Transition planning starts early, • Hands-on expertise across many others do not functional areas: ensuring seamless carve-outs • Manufacturing • M&A stays engaged post-close to build enterprise value M&A Execution • IT • Distribution Operational toolkit Portfolio Operations & Transitions Operations • Supply Chain • Production Rationalization • Procurement • CapEx investments to take Company Management • Real Estate advantage of strategic opportunities • HR & Benefits • Cost Reduction • Treasury & Cash Management • Restructuring Differentiated approach to • Sales & Marketing • Enhancing Revenue Growth unlocking value • Corporate Communications • Pricing Strategy • Apply disciplined operational • Legal • Margin Expansion improvements to build enterprise value • Tax • Digital Transformation • Collaborate with management to • Accounting 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 Fund IV / Fund V Operations 5.0 Human Capital Operations 4.0 Digital Transformation Operations 3.0 Growth, Pricing & Margin Expansion Operations 2.0 Operational Excellence & Merger Integration Operations 1.0 Culture, Intensity, Cost, & Balance Sheet 8 Transacting with Industry Leaders 9 44 Deals in 12 Months 11 Platform Acquisitions PENDING PENDING PENDING Farnese Vini Biscuit International Cision Centerfield Signed December 2019 Signed November 2019 Signed October 2019 December 2019 De Wave Group TruckPro Iberconsa Livingston PCI Limited October 2019 October 2019 May 2019 April 2019 April 2019 Lonza Orbit Irrigation Water Care Systems Water Care February 2019 February 2019 14 Divestitures PENDING PENDING Embassy Suites Sheraton Pittsburgh Vertiv PAE Boca Raton November 2019 Signed December 2019 November 2019 December 2019 Pittsburgh Holiday Inn San Artesyn Embedded Artesyn The Citizen Hotel Antonio International Computing Embedded Power Embedded Power July 2019 Embedded Computing September 2019 Airport July 2019 July 2019 Battlespace GreenLine Systems Flight Services Data Blue Enbi (from PAE) (from PAE) April 2019 March 2019 April 2019 May 2019 Electro Rent UK Test Embassy Suites & Measurement St. Paul UK Test & Business January 2019 Measurement Business February 2019 St. Paul Reflects deals signed or closed January 1, 2019 – December 31, 2019. 10 44 Deals in 12 Months (contd.) 19 Add-On Acquisitions PENDING Digital Ventures Adams Aviation (Pattonair) Johnny on the Spot (USS) (Centerfield) September 2019 May 2019 Signed December 2019 Dave’s Septic Services Fincallorca (Awaze) PENDING (USS) April 2019 Wesco Aircraft (Pattonair) August 2019 Signed August 2019 Travel a la Carte (Awaze) Flooring Systems (ILG) April 2019 S&B Porta-Bowl Restrooms August 2019 & Subs (USS) Sin City Portables and November 2019 Klein’s Restoration (Yak Posh Restrooms (USS) Access) April 2019 A&A Portables (USS) July 2019 October 2019 Estuary Cottages (Awaze) Multi-Color Corporation (WS April 2019 PBS Rentals, Inc and PBS Packaging Group) Services, Inc. (USS) July 2019 CPT (PrimeSource) Oct 2019 March 2019 Alpha Precision & Schulz-Clearwater Mike’s Flooring Companies Engineering (Compart Sanitation (USS) (ILG) Systems) January 2019 September 2019 June 2019 Reflects deals signed or closed January 1, 2019 – December 31, 2019. 11 Select Activity Highlights Acquisitions EUROPE $3.85B Purchase Price $1.3B Purchase Price $2.1B Purchase Price Small Cap Fund Diversified Industrials Hospitality Healthcare Acquisition Consumer Private Transaction Divestiture
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