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An Introduction to Platinum Equity An Introduction to Platinum Equity April 2019 Copyright © 2019 Platinum Equity Advisors, 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 Advisors, 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+ $28B+ 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 December 31, 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 110K+ Employees Across 7 Continents 17k+ ~43k ~48k 400+ ~800 ~4k Reflects portfolio company headcount by continent as of December 2018. Excludes Ryerson and Key Energy. 450+ 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 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 Technology and Global supplier of injection Global aerospace and communications services Portable sanitation molding equipment and defense supply chain to corrections and law and related site services to the plastics service provider. enforcement industries. 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 Marine transport electronic test and U.S.-focused IT Metals processing and services and barge measurement solutions provider distribution manufacturing equipment 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 52 Deals in 12 Months 13 Platform Acquisitions PENDING PENDING PENDING Lonza Iberconsa Livingston PCI Limited Orbit Water Care Signed Signed Signed February 2019 Water Care February 2019 March 2019 February 2019 January 2019 Yak Access Jostens LifeScan Ball Metalpack July 2018 December 2018 October 2018 July 2018 Pitney Bowes PLI Card Marketing Hunterstown Power Wyndham European Document Messaging DMT (BlueCrest) Solutions Generation Station Vacation Rentals (Awaze) Technologies July 2018 June 2018 June 2018 EUROPE May 2018 15 Divestitures Electro Rent UK Test Embassy & Measurement Terratest Exterion Media Enbi Suites St. Paul Business December 2018 November 2018 March 2019 UK Test & January 2019 Measurement Business February 2019 Crowne Plaza Worldwide BlueLine Rental Verra Mobility Kymera Melbourne Hotel Flight Services October 2018 October 2018 October 2018 October 2018 October 2018 Pittsburgh Winc New Fabcon Schutt Sports MXD Group Airport Marriott Zealand August 2018 April 2018 April 2018 September 2018 July 2018 Reflects deals signed or closed April 1, 2018 – March 31, 2019. 10 52 Deals in 12 Months (contd.) 24 Add-On Acquisitions PENDING Multi-Color Corporation Paramount Porta-Potty Amason’s Portable Toilets J&J Portable Toilet & (WS Packaging Group) (USS) & Holding Tanks, Inc. Septic Services, Inc. Signed February 2019 November 2018 (USS) (USS) July 2018 May 2018 Able Jons (USS) Project CPT November 2018 iBlock (Compart) OfficeMax NZ (Winc) (PrimeSource) July 2018 May 2018 March 2019 Harvard Card Systems (PLI) Central Steel and Wire American & Efird Schulz Clearwater October 2018 (Ryerson) (Elevate Textiles) Sanitation (USS) July 2018 May 2018 January 2019 PLAN ADRIA d.o.o (Awaze) Sterling Hi-5 Port-A-Potties Mr. John (USS) October 2018 Manufacturing (ILG) (USS) November 2018 June 2018 April 2018 Mulberry Cottages MEMS’ Service Division (Awaze) Nature’s Calling, Inc. and ZZZ Sanitation (USS) (Vertiv) October 2018 Fenn-Vac Environmental, April 2018 November 2018 Inc. (USS) Don’s Johns, Inc. (USS) May 2018 Euro Parking Collection August 2018 (Verra Mobility) Interior Specialists, Inc. April 2018 Intellirent (Electro Rent) (Merged with ILG)1 July 2018 May 2018 Reflects deals signed or closed April 1, 2018 – March 31, 2019. 1 Post-merger,
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