Diversified Industrials Q1 2020

Q1 2020 Diversified Industrials

M&A Transaction Trends

Largest Transactions Closed

  • Target
  • Buyer
  • Value($mm)
  • Industrial Segment Business of Ingersoll-Rand plc
  • Ingersoll Rand, Inc.
  • $8,735.50
  • Aircastle Limited
  • Marubeni Corporation; Mizuho Leasing Company, Limited
  • $6,916.28
  • Three Sawmills of Conifex Timber, Inc.
  • Resolute FP US Inc.
  • $176.00
  • Non-Core Instrumentation and Sampling Buisness of CIRCOR International, Inc.
  • Crane Co.
  • $172.00
  • 630,000 acres of Timberland in Montana
  • Southern Pine Plantations
  • $145.00
  • Flow Management Devices LLC
  • IDEX Corporation
  • $125.00
  • Evoqua Water Technologies Membrane Systems Pty Ltd & MEMCOR Product Line
  • DuPont de Nemours, Inc.
  • $110.00
  • Spartan Motors USA, Inc.
  • REV Group, Inc.
  • $55.00
  • All Assets of Delta Separations, LLC & All Assets of Teaching Tech, LLC
  • Gibraltar Industries, Inc.
  • $50.00
  • Substantially All Operating Assets of Nortech Packaging
  • Intertape Polymer Group
  • $36.50

 

Source S&P Capital IQ as of 4/13/2020 and PCE Proprietary Data

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Contacts

Michael Poole

Orlando Office

407-621-2112

Michael Rosendahl

New York Office

201-444-6280 Ext 1

David Jasmund

 

David Jasmund

Investment Banking | ESOP

Orlando Office

407-621-2111 (direct)

djasmund@pcecompanies.com

Connect
407-621-2111 (direct)

407-621-2199 (fax)

Eric Zaleski

 

Eric Zaleski

Investment Banking | ESOP

Chicago Office

847-239-2466 (direct)

ezaleski@pcecompanies.com

Connect
847-239-2466 (direct)

407-621-2199 (fax)

Melissa Ritter

 

Melissa Ritter

Investment Banking

Orlando Office

407-621-2128 (direct)

mritter@pcecompanies.com

Connect
407-621-2128 (direct)

407-621-2199 (fax)

Michael Rosendahl

 

Michael Rosendahl

Investment Banking

New York Office

201-444-6280 Ext 1 (direct)

mrosendahl@pcecompanies.com

Connect
201-444-6280 Ext 1 (direct)

407-621-2199 (fax)

Will Stewart

 

Will Stewart

Investment Banking | ESOP

Orlando Office

407-621-2124 (direct)

wstewart@pcecompanies.com

Connect
407-621-2124 (direct)

407-621-2199 (fax)

whitcomb-woody

 

Woody Whitcomb

Investment Banking

Orlando Office

407-621-2113 (direct)

wwhitcomb@pcecompanies.com

Connect
407-621-2113 (direct)

407-621-2199 (fax)

poole_michael

 

Michael Poole

Investment Banking

Orlando Office

407-621-2112 (direct)

mpoole@pcecompanies.com

Connect
407-621-2112 (direct)

407-621-2199 (fax)

vogt-paul

 

Paul Vogt

Valuation

Atlanta Office

678-641-4760 (direct)

pvogt@pcecompanies.com

Connect
678-641-4760 (direct)

407-621-2199 (fax)

Mackenzie Moran

 

Mackenzie Moran

Investment Banking

New York Office

201-444-6280 Ext 3 (direct)

mmoran@pcecompanies.com

Connect
201-444-6280 Ext 3 (direct)

407-621-2199 (fax)

Isabel Carta

 

Isabel Carta

Investment Banking

Orlando Office

407-621-2149 (direct)

icarta@pcecompanies.com

Connect
407-621-2149 (direct)

407-621-2199 (fax)

Philipp Seubert

 

Philipp Seubert

Investment Banking

New York Office

201-444-6280 Ext 4 (direct)

pseubert@pcecompanies.com

Connect
201-444-6280 Ext 4 (direct)

407-621-2199 (fax)

Data Assumptions

This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.

Glossary

EBIT - Earnings Before Interest and Taxes
EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
LTM - Last Twelve Months
TEV - Total Enterprise Value

Sources:

  1. Martineau, Paris, “The ‘Surreal’ Frenzy Inside the US’ Biggest Mask Maker,” WIRED, Mar. 16, 2020.
  2. Wayland, Michael “Ford to begin producing respirators for healthcare workers at Michigan Plant,” CNBC.com, April 13, 2020.
  3. The Associated Press, “Factory Shutdowns Near WWII Demobilization Levels in U.S.,”  The New York Times, April 15, 2020.
  4. Boudette, Neal, “Automakers to Close Factories in North America,” The New York Times, Mar. 18, 2020.
  5. Shepardson, David, “Honda, Fiat Chrysler aim to restart US, Canada auto production in May,” Reuters, April 6, 2020.
  6. Yu, Janice, “Georgia-Pacific Working to Keep Up with Toilet Paper Demand,” Fox5 Atlanta, Mar. 18, 2020.
  7. Orner, Ben, “Lawmakers Take Aim at Plastic Pollution with Package,“ Capitol News Illinois, Feb. 18, 2020.
  8. Root, Al, “Oil Is Plummeting. Here Are Industrial Companies That Could Take A Hit – and a Couple That Could Benefit,” Barron’s , March 9, 2020.
  9. Wallace, Joe, “Coronavirus Spurs Demand for Niche Raw Materials,” Wall Street Journal, Feb. 12, 2020.

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