20 Financial 15 18 18% 10 11 5 2 7 2 4 Strategic - 82% Amount ($ in Date Target Buyer(s) Segment TEV/ Rev TEV/ EBITDA Mil) 12/30/2016 RPM Transportation KCI Technologies, Inc. Logistics Providers - - - 12/22/2016 Blue Sky Logistics LLC KJM Capital LLC Transportation - - - Equipment 12/22/2016 Daseke, Inc. Hennessy Capital Acquisition Corp. II Trucking 448.28 0.66x - 12/15/2016 Folding Guard LLC Troax, Inc. Warehousing and 28.00 1.40x - Storage 12/8/2016 JS Logistics, Inc. NewSpring Growth; US Pack Logistics Logistics Providers - - - LLC 11/17/2016 Western Refining, Inc. Tesoro Corp. Warehousing and 5,696.75 0.74x 10.48x Storage 11/16/2016 Infor, Inc. Koch Equity Development LLC Software 2,500.00 0.83x - 11/7/2016 EarthLink Holdings Corp. Windstream Holdings, Inc. Software 1,008.35 1.02x 4.88x 10/31/2016 International Shipholding Corp. Seacor Capital Corp. Trucking 156.28 0.60x 4.98x 10/27/2016 Xpo Logistics, Inc. /Truckload Business/ TransForce, Inc. Logistics Providers 558.00 - - 10/4/2016 Golden State Overnight Delivery Service, Inc. General Logistics Systems BV Trucking 90.00 0.79x - Strategic Buyer Inv. Date Select Corporate Acquisitions Dicom Transportation Group, L.P. 2/11/2016 ▪ Advanced Distribution Services 9/9/2015 ▪ Eastern Connection Operating, Inc. 8/4/2015 ▪ Courier Express Enterprises LLC 7/21/2015 ▪ EXTRA Express Cerritos, Inc. 6/17/2015 ▪ Orbis Logistics, Inc. XPO Logistics, Inc. (NYSE:XPO) 9/9/2015 ▪ Con-way Inc. 5/4/2015 ▪ Bridge Terminal Transport Inc. 7/29/2014 ▪ Simply Logistics, Inc. 7/29/2014 ▪ XPO Logistics Supply Chain, Inc. 1/6/2014 ▪ XPO Intermodal, Inc. Echo Global Logistics, Inc. (NasdaqGS:ECHO) 4/21/2015 ▪ Command Transportation, LLC 2/5/2015 ▪ Xpress Solutions, Inc. 5/13/2014 ▪ One Stop Logistics, Inc. 2/26/2014 ▪ Comcar Logistics LLC 2/6/2014 ▪ Online Freight Services, Inc. Lineage Logistics, LLC 8/18/2016 ▪ Consolidated Distribution Corporation, LLC 1/9/2015 ▪ Columbia Colstor, Inc. 7/7/2014 ▪ Dreisbach Enterprises, Inc. 5/13/2014 ▪ Loop Fresh Produce, L.P. 3/12/2014 ▪ Millard Refrigerated Services, Inc. Rising Tide Development, LLC 1/12/2016 ▪ Self-Storage Center 10/2/2014 ▪ Self-Storage Property 5/7/2014 ▪ Self Storage Center 4/9/2014 ▪ Self Storage Property Financial Buyer Inv. Date Select Corporate Investments 500 Startups 5/16/2016 ▪ Cognitive Operational Systems, LLC 11/5/2015 ▪ Moveha, LLC 11/5/2015 ▪ Whiplash Merchandising LLC 1/27/2015 ▪ KidzJet, L.L.C. 2/3/2014 ▪ myDoorman Inc. Ridgemont Equity Partners 9/7/2016 ▪ Nolan Transportation Group, Inc. 7/1/2016 ▪ WhiteWater Midstream 10/20/2015 ▪ Unishippers Global Logistics, LLC 10/15/2014 ▪ Transportation Insight, LLC KJM Capital LLC 12/22/2016 ▪ Blue Sky Logistics LLC 12/22/2016 ▪ Interide Transportation LLC 12/6/2016 ▪ Sunco Carriers, Inc. ABRY Partners, LLC 2/6/2016 ▪ FLS Transportation Services, Inc. 9/15/2014 ▪ CitiXsys Americas Inc. Wood Creek Capital Management, LLC 4/14/2015 ▪ Tiger Cool Express, LLC 3/3/2015 ▪ Milestone Equipment Holdings, LLC 20% 15% 10% 5% 0% -5% -10% Rail Trucking Warehousing & Storage Transportation Equipment Logistics Providers S&P 500 Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap Quarter YTD % of 52 EBITDA TEV/ TEV/ Price/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA EPS Growth Revenue EBITDA Union Pacific Corp. UNP $ 85,444 $ 103.68 6.3% 32.6% 97.2% 4.3% 47.8% 4.9x 10.7x 20.8x 4.8x 10.1x Canadian National Railway Co. CNI 51,683 67.40 3.1% 20.6% 96.3% (0.2%) 57.0% 6.5x 12.3x 18.9x 6.3x 11.7x Canadian Pacific Railway Ltd. CP 20,901 142.77 -6.5% 11.9% 90.7% (0.5%) 53.2% 5.7x 12.1x 18.0x 5.7x 10.7x Norfolk Southern Corp. NSC 31,550 108.07 11.3% 27.8% 97.0% 3.9% 42.7% 4.1x 10.1x 20.0x 4.0x 9.4x CSX Corp. CSX 33,654 35.93 17.8% 38.5% 96.0% 4.1% 42.9% 4.0x 9.8x 20.0x 3.9x 9.1x Kansas City Southern KSU 9,128 84.85 -9.1% 13.6% 84.3% 4.1% 44.6% 5.0x 10.4x 18.8x 4.7x 9.6x Genesee & Wyoming, Inc. GWR 4,255 69.41 0.7% 29.3% 86.0% 8.1% 28.4% 3.2x 11.6x 18.5x 2.8x 9.0x Trinity Industries, Inc. TRN 4,227 27.76 14.8% 15.6% 94.7% (27.9%) 22.7% 1.4x 6.0x 8.9x 1.9x 8.7x American Railcar Industries, Inc. ARII 877 45.29 9.2% -2.1% 88.6% (28.2%) 20.1% 1.7x 6.0x 10.3x 2.3x 7.2x $26,858 5.3% 20.8% 92.3% (3.6%) 39.9% 4.1x 9.9x 17.1x 4.0x 9.5x $20,901 6.3% 20.6% 94.7% 3.9% 42.9% 4.1x 10.4x 18.8x 4.0x 9.4x Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap Quarter YTD % of 52 EBITDA TEV/ TEV/ Price/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA EPS Growth Revenue EBITDA J.B. Hunt Transport Services, Inc. JBHT $ 10,890 $ 97.07 19.6% 32.3% 94.8% 10.5% 16.3% 1.8x 10.9x 25.7x 1.7x 10.2x Old Dominion Freight Line, Inc. ODFL $ 7,073 $ 85.79 25.0% 45.2% 93.6% 6.8% 24.5% 2.4x 10.6x 23.9x 2.3x 9.8x Ryder System, Inc. R $ 3,980 $ 74.44 12.9% 31.0% 87.1% 4.5% 27.8% 1.4x 5.4x 13.7x 1.3x 5.0x Landstar System, Inc. LSTR $ 3,563 $ 85.30 25.3% 45.4% 93.9% 4.5% 8.5% 1.1x 13.7x 26.7x 1.1x 13.1x Knight Transportation, Inc. KNX $ 2,645 $ 33.05 15.2% 36.4% 85.2% 5.7% 23.0% 2.4x 10.0x 26.9x 2.3x 9.5x Swift Transportation Co. SWFT $ 3,226 $ 24.36 13.5% 76.3% 89.6% 2.2% 10.4% 1.1x 8.0x 19.6x 1.0x 7.2x Werner Enterprises, Inc. WERN $ 1,942 $ 26.95 15.8% 15.2% 92.8% 2.9% 15.3% 1.0x 5.9x 20.7x 1.0x 5.9x Heartland Express, Inc. HTLD $ 1,696 $ 20.36 7.8% 19.6% 89.7% (3.0%) 30.6% 2.5x 8.6x 28.3x 2.5x 8.3x Navistar International Corp. NAV $ 2,563 $ 31.37 37.0% 254.9% 93.8% (0.3%) 5.6% 0.8x 13.8x NM 0.8x 11.4x Marten Transport Ltd. MRTN $ 759 $ 23.30 11.0% 31.6% 86.1% 5.2% 19.0% 1.2x 5.8x 22.6x 1.1x 5.5x Saia, Inc. SAIA $ 1,113 $ 44.15 47.4% 98.4% 90.4% 6.5% 13.5% 1.0x 7.9x 23.0x 1.0x 7.0x ArcBest Corp. ARCB $ 708 $ 27.65 45.4% 29.3% 81.4% 7.4% 6.5% 0.3x 5.7x 33.3x 0.3x 4.5x Universal Logistics Holdings, Inc. ULH $ 465 $ 16.35 21.8% 16.5% 89.3% 0.4% 7.0% 0.6x 7.4x 15.0x 0.6x 7.8x Covenant Transportation Group, Inc. CVTI $ 306 $ 19.34 0.1% 2.4% 75.0% 3.0% 17.5% 0.8x 4.4x 14.7x 0.8x 4.9x YRC Worldwide, Inc. YRCW $ 442 $ 13.28 7.8% -6.3% 78.3% 2.9% 6.5% 0.2x 4.7x 83.0x 0.2x 3.6x Roadrunner Transportation Systems, Inc. RRTS $ 398 $ 10.39 30.2% 10.2% 76.0% 3.1% 4.4% 0.4x 8.4x 16.0x 0.4x 7.0x Celadon Group, Inc. CGI $ 202 $ 7.15 -18.2% -27.7% 59.4% 1.1% 6.3% 0.6x 6.6x 19.3x 0.6x 6.5x USA Truck, Inc. USAK $ 72 $ 8.71 -14.9% -50.1% 40.6% (1.3%) 6.9% 0.5x 6.1x NM 0.5x 5.5x P.A.M. Transportation Services, Inc. PTSI $ 167 $ 25.98 29.8% -5.8% 80.6% 8.6% 13.3% 0.7x 5.5x 12.9x 0.7x 4.6x 4.2% 19.5% 4.5% 19.6% Market Stats Operating Stats LTM Multiples NTM Multiples Est. TEV/ TEV/ Market Cap Quarter YTD % of 52 EBITDA TEV/ TEV/ Price/ Company Name Symbol Price ($) Revenue NTM NTM ($ in Mil) Change Change Week High Margin Rev EBITDA EPS Growth Revenue EBITDA Manhattan Associates, Inc. MANH $ 3,775 $ 53.03 -8.0% -19.9% 77.3% 10.7% 36.7% 6.1x 18.6x 31.9x 5.6x 15.3x Aspen Technology, Inc. AZPN 4,223 54.68 16.9% 44.8% 98.7% 3.3% 47.1% 8.8x 18.8x 32.5x 8.8x 18.1x The Descartes Systems Group, Inc. DSGX 1,619 21.40 -0.6% 6.6% 93.5% 9.3% 33.1% 7.7x 23.6x 69.1x 6.9x 19.7x SPS Commerce, Inc. SPSC 1,191 69.89 -4.8% -0.5% 93.4% 23.0% 11.1% 5.8x 57.2x 199.7x 4.8x 33.1x QAD, Inc. QADA 561 30.40 35.8% 48.1% 98.4% 4.5% 5.4% 1.6x 50.8x 226.9x 1.6x 25.9x American Software, Inc.
Details
-
File Typepdf
-
Upload Time-
-
Content LanguagesEnglish
-
Upload UserAnonymous/Not logged-in
-
File Pages11 Page
-
File Size-