60 58.1 57.7 58 56 54 52 48.0 50 48 46 44 42 40 120 100 101 Financial 80 18% 60 40 22 58 20 30 10 37 StrategicStrategi - c 82% Amount TEV/ TEV/ Date Target Buyer(s) Segment ($ in Mil) Rev EBITDA 3/16/2017 Scott Technologies, Inc. 3M Co. Medical 2,000.00 3.51x 11.00x 3/2/2017 Grindmaster-Cecilware Corp. Electrolux AB Non-Durable Consumer 108.00 1.66x - 2/20/2017 Vention Medical, Inc. (Advanced Technologies Nordson Corp. Medical 705.00 4.70x 14.69x 2/17/2017 LMIBusiness) Aerospace, Inc. Sonaca USA, Inc. Aerospace & Defense 428.26 1.24x 12.38x 2/14/2017 Cynosure, Inc. Hologic, Inc. Medical 1,426.61 3.29x 29.72x 2/13/2017 GigPeak, Inc. Integrated Device Technology, Inc. Industrial 185.33 3.15x 16.83x 2/9/2017 Letica Corp. RPC Group Plc Non-Durable Consumer 640.00 1.42x 11.23x 2/2/2017 Ultratech, Inc. Veeco Instruments, Inc. Industrial 508.28 2.62x 33.01x 1/25/2017 Arctic Cat, Inc. Textron, Inc. Durable Consumer 310.23 0.61x -5.12x 1/23/2017 Westrock Co. (Specialty Closures & Dispensing Silgan Holdings, Inc. Industrial 1,050.00 1.86x 10.61x Systems Business) 1/10/2017 Mortara Instrument, Inc. Hill-Rom Holdings, Inc. Medical 330.00 2.87x - Strategic Buyer Inv. Date Select Corporate Acquisitions Patrick Industries, Inc. 3/20/2017 ▪ Medallion Plastics, Inc 12/5/2016 ▪ KRA International LLC 12/5/2016 ▪ Sigma Wire International LLC 8/1/2016 ▪ BH Electronics, Inc. Ryerson Holding Corp. 2/15/2017 ▪ Guy Metals, Inc. 1/19/2017 ▪ The Laserflex Corp. 1/5/2015 ▪ Fay Industries, Inc. Merit Medical Systems, Inc. 2/6/2017 ▪ Argon Medical Devices, Inc. (Critical Care Business) 2/6/2017 ▪ Catheter Connections, Inc. (Certain Assets) 7/6/2016 ▪ DFINE, Inc. 2/3/2016 ▪ Cryolife, Inc. (Hero Graft Brand) RPC Group Plc 2/9/2017 ▪ Letica Corp. 12/15/2016 ▪ ESE World BV (South Africa) 12/15/2016 ▪ AstraPak Ltd. (Netherlands) 11/17/2016 ▪ Plasti-Ape SpA (Italy) Precision Castparts Corporations 10/25/2016 ▪ Atlantic Precision, Inc. 11/10/2015 ▪ Andrews Laser Works Corporation 10/30/2015 ▪ Noranco Inc. 7/21/2015 ▪ Composites Horizons, Inc. Pro Mach, Inc. 9/28/2016 ▪ Pacific Packaging Machinery Inc. 8/2/2016 ▪ Zarpac, Inc. (nka:Pro Mach Integrated Solutions Group) 5/2/2016 ▪ NJM Packaging 2/15/2016 ▪ Stork Fabricators, Inc. Financial Sponsor Inv. Date Select Corporate Acquisitions LFM Capital LLC 2/15/2017 ▪ Heartland Steel Products LLC 1/17/2017 ▪ EDSCO Fasteners, Inc. 8/18/2016 ▪ Vektek, Inc. 8/9/2016 ▪ Auto Craft Tool & Die Co, Inc. 8/9/2016 ▪ 3 D Sales, Inc. The Sterling Group LP 2/3/2017 ▪ Time Manufacturing Co. 2/1/2017 ▪ Tie Down Engineering Inc (Axle Brake & Actuation Business) 1/13/2017 ▪ Randall Manufacturing LLC 11/3/2016 ▪ Poolpak Technologies Corp. Tenex Capital Management 12/30/2016 ▪ Custom Molded Products LLC 8/29/2016 ▪ Nalle Automation Systems LLC 4/26/2016 ▪ Endevr, Inc. (Strengthtape) 4/18/2016 ▪ Unirac, Inc. Bain Capital Private Equity 3/27/2017 ▪ Sealed Air Corp (Diversey Care & Food Hygiene Business) 12/14/2016 ▪ Innocor, Inc. 12/8/2016 ▪ Bottles Unlimited, Inc. 11/2/2015 ▪ Unique Pharmaceuticals Ltd. ShoreView Industries 12/23/2016 ▪ Hi-Rel Group 9/16/2016 ▪ Spring USA Corporation 3/3/2016 ▪ Edstrom Industries, Inc. 7/20/2015 ▪ SOURIAU PA&E, Inc. 20% 15% 10% 5% 0% -5% -10% Aerospace & Defense Building Products Durable Consumer Non-Durable Consumer Industrial Medical 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 The Boeing Co. BA $ 107,546 $ 176.86 13.6% 13.6% 95.2% (2.2%) 11.4% 1.1x 14.4x 23.2x 1.2x 10.2x Honeywell International, Inc. HON 95,050 124.87 7.8% 7.8% 97.9% 0.6% 18.7% 2.6x 12.3x 20.1x 2.7x 12.0x General Dynamics Corp. GD 56,791 187.20 8.4% 8.4% 96.5% 1.7% 14.9% 1.9x 12.2x 19.6x 1.9x 12.6x Airbus Group SE AIR-FR 58,966 76.29 13.5% 13.5% 98.5% 4.4% 0.7% 0.8x 22.3x 53.5x 0.8x 7.9x Mohawk Industries, Inc. MHK 17,025 229.49 14.9% 14.9% 98.2% 5.5% 19.3% 2.2x 10.8x 18.4x 2.1x 10.5x TransDigm Group, Inc. TDG 11,634 220.16 -11.6% -11.6% 74.8% 11.4% 43.9% 6.5x 14.6x 24.9x 6.1x 12.7x Textron, Inc. TXT 12,853 47.59 -2.0% -2.0% 93.4% 5.1% 12.1% 1.1x 9.4x 13.5x 1.1x 9.4x Spirit AeroSystems Holdings, Inc. SPR 6,900 57.92 -0.7% -0.7% 92.1% 1.8% 14.8% 1.1x 7.7x 15.7x 1.1x 7.1x B/E Aerospace, Inc. BEAV 6,505 64.11 6.5% 6.5% 98.8% 5.6% 17.8% 2.8x 13.5x 20.8x 2.7x 12.4x HEICO Corp. HEI 5,380 87.20 13.0% 13.0% 98.0% 7.5% 23.5% 4.5x 18.8x 36.0x 4.3x 17.8x Curtiss-Wright Corp. CW 4,044 91.26 -7.2% -7.2% 84.8% 4.8% 22.9% 2.1x 11.0x 21.9x 2.0x 10.4x Bombardier, Inc. BBD.B-CA 3,474 1.53 -5.6% -5.6% 72.4% 5.1% 3.5% 0.7x 16.3x NM 0.6x 10.1x Esterline Technologies Corp. ESL 2,555 86.05 -3.5% -3.5% 89.2% 1.3% 13.3% 1.5x 10.1x 23.2x 1.5x 9.6x RBC Bearings, Inc. ROLL 2,329 97.09 4.6% 4.6% 97.2% 5.9% 23.4% 4.2x 17.8x 33.7x 3.9x 15.4x Triumph Group, Inc. TGI 1,277 25.75 -2.8% -2.8% 64.2% (1.7%) 11.7% 0.8x NM NM 0.8x 6.0x Aerojet Rocketdyne Holdings, Inc. AJRD 1,618 21.70 20.9% 20.9% 94.4% 5.2% 10.9% 1.1x 11.7x 80.4x 0.9x 7.5x Ducommun, Inc. DCO 322 28.79 12.6% 12.6% 85.6% 2.5% 10.1% 0.9x 9.3x 12.9x 0.9x 8.2x Segment Average 3.8% 16.1% 2.1x 13.3x 27.9x 2.0x 10.6x Segment Median 4.8% 14.8% 1.5x 12.3x 21.9x 1.5x 10.2x 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 Mohawk Industries, Inc. MHK $ 17,025 $ 229.49 14.9% 14.9% 98.2% 5.5% 19.3% 2.2x 10.8x 18.4x 2.1x 10.5x USG Corp. USG 4,649 31.80 10.1% 10.1% 91.7% 3.2% 12.8% 1.7x 9.5x 20.3x 1.7x 8.0x Armstrong World Industries, Inc. AWI 2,479 46.05 10.2% 10.2% 95.2% 6.5% 17.4% 2.6x 14.1x 28.8x 2.5x 9.2x Apogee Enterprises, Inc. APOG 1,708 59.61 11.3% 11.3% 97.7% NM NM 1.5x 10.6x NM 1.3x 8.5x Gibraltar Industries, Inc. ROCK 1,301 41.20 -1.1% -1.1% 85.7% 0.1% 9.5% 1.3x 11.1x 39.2x 1.3x 10.1x Builders FirstSource, Inc. BLDR 1,669 14.90 35.8% 35.8% 94.0% 8.5% 4.8% 0.5x 9.9x 11.7x 0.5x 7.4x American Woodmark Corp. AMWD 1,490 91.80 22.0% 22.0% 99.5% 10.5% 10.6% 1.3x 10.6x 22.4x 1.2x 9.5x Advanced Drainage Systems, Inc. WMS 1,206 21.90 6.3% 6.3% 76.9% 3.2% 14.0% 1.5x 11.0x 35.9x 1.5x 9.0x Continental Building Products, Inc. CBPX 970 24.50 6.1% 6.1% 92.4% 6.8% 28.6% 2.6x 8.9x 22.7x 2.5x 9.0x Insteel Industries, Inc. IIIN 686 36.14 1.4% 1.4% 84.4% 14.3% 10.4% 1.5x 9.3x 19.9x 1.3x 9.3x Armstrong Flooring, Inc. AFI 514 18.42 -7.5% NA 80.2% 1.6% 1.1% 0.4x 7.7x 69.0x 0.4x 6.2x Segment Average 6.0% 12.9% 1.6x 10.3x 28.8x 1.5x 8.8x Segment Median 6.5% 10.6% 1.5x 10.3x 22.7x 1.3x 9.0x 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 Newell Brands, Inc. NWL $ 22,755 $ 47.17 5.6% 5.6% 85.1% 11.1% 16.2% 2.6x 20.3x 37.9x 2.1x 10.7x Whirlpool Corp. WHR 12,762 171.33 -5.7% -5.7% 88.3% 5.0% 9.7% 0.8x 8.4x 14.9x 0.8x 6.8x Hanesbrands, Inc.