Credit Suisse Investment Banking Pitch Book
CONFIDENTIAL
Precedent Saturn Case Studies
Seagate and UGS represent two of the largest technology buyouts in history
Business
Transaction
Announcement Date
Capitalization
(Sources of Funds)
% Fully Diluted
Equity Ownership
CREDIT FIRST
SUISSE BOSTON
(1)
(2)
(3)
Seagate
Wunde
▸ Leading designer, manufacturer, and
marketer of hard disc drives
▸ Saturn and management led going-private
leveraged buyout transaction
► March 29, 2000
Total Debt:
▸ Total Equity:
▸ Total Capitalization:
► Debt/Total Cap:
▸ Management (¹)
▸ Saturn.
▶ TPG:
▸ Others:
$901M
$1,100M
$2,001M
45%
32%
30%
20%
18%
UGS
> Leading provider of CAD/CAM and product
lifecycle management software solutions
▸ Leveraged buyout and divisional carve-out of
the business from parent (EDS)
► March 14, 2004
▸ Total Debt.(3)
▸ Total Equity.
Total Capitalization:
► Debt/Total Cap
▸ Saturn:
▸ Bain Capital:
▸ Warburg Pincus:
▸ Management (¹)
$1,080M
$1,033M
$2,113M
51%
29%
29%
29%
13%
Common stock ownership includes shares purchased by management and treats option as tul shares).
Includes affiated funds (not including limited partner co-investors). Seagate transaction size figures include all businesses acquired as part of the buyout.
Does not include an additional $95 million of undrawn capacity
Includes assumption regarding expected closing working capital adjustment.
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