Cannae SPAC Presentation Deck
2 Foley's established value creation playbook
Foley Playbook
Was Created at FNF
Metric driven
management
Industry consolidation
and enhancing execution
Recruitment of
C-Suite talent
Diversification,
streamlining, and
continued growth
Proven Results
M.FIDELITY
NATIONAL FINANCIAL
In 1984, Foley acquired FNF for $3M when it was ranked 48th in the country among title insurance companies and had revenue of $6M (1)
First to bring performance metric driven management to the title insurance industry
Focused on operating profit optimization across economic cycles
A track record of consolidation, while also creating highly efficient, market leading companies
Acquired Chicago Title Insurance Company, creating the nation's largest title insurer
Hundreds of acquisitions since initial acquisition
Industry leading title margins over multi-decade economic cycles
Mr. Foley recruited and mentored future industry leaders and all executive officers
Includes FNF's current Chief Executive Officer Raymond Quirk and Chief Operating Officer Roger Jewkes
Continued growth with additional strategic acquisitions such as:
SERVICELINK
Diversified investments including:
C
CERIDIAN
-
Commonwealth
LAND TITLE INSURANCE COMPANY
sedgwick.
V
AMERICAN
BLUE RIBBON
HOLDINGS
BLACK KNIGHT
Remy
INTERNATIONAL, INC.
Lawyers Title
INSURANCE CORPORATION
J.ALEXANDER'S
HOLDINGS, INC.
G
FOL HOLDINGSs
FNF is now the nation's largest title insurance and settlement services company
#1 market share in the residential purchase, refinance, and commercial markets (2)
FNF average pre-tax title margins of ~15% over the last decade compared to competitor average margins of ~10% during
the same period (2)
Foley
Playbook
Source: Public company filings and market data as of 8/5/2021.
(1) Revenue and ranking as of 1984. From Fidelity National Title Insurance Company website.
(2) FNF margins and rankings data from the FNF Spring 2021 Investor Update Presentation. Title margin averages include every year from 2012-Q1 2021.
●
●
·
CH
CANNAE
HOLDINGS, INC.
Identify Value Enhancements
Cost savings
Strategy shifts
Elimination of siloed organizational
structures
Product expansion
Exploit Full Operating Tool Kit
Pricing
Sales force efficiency / cross-selling
Marketing optimization
World Class Talent
Executive team
Alignment of interests
Clear goals for management
Board of Directors
Invest for Growth
New products
New markets
Acquisitions
Add-on acquisitions
Transformative transactions
Foley's value creation playbook was created and first implemented at FNF, where it has been driving consistent outperformance for 30+ years
CANNAE HOLDINGS INVESTOR PRESENTATION AUGUST 2021 6View entire presentation