Investor Presentation December 2019
8 We Believe Valuation is Attractive...
Discount to Peers
Attractive entry point with a deal
valuation comparatively at discount to
peers
Large and growing addressable
market with secular industry
tailwinds
Potential for value creation driven
9.8 x
2019 EV/EBITDA
VERTIV
Median: 15.0 x
17.7 x
17.6 x
16.1 x
15.2 x
15.0 x
12.9 x
12.6 x
11.8 x
11.6 x
VERTIV
Amphenol
ABB
GENERAC
Littelfuse legrand
Schneider
HUBBELL
TE
EATON
Electric
by
8.9 x
• Organic and inorganic growth
•
Margin expansion
•
Focus on free cash flow
Experienced management team
with a strong track record of
execution
2020 EV/EBITDA
Median: 14.2 x
17.0 x
14.9 x
14.9 x
14.3 x
14.2 x
12.0 x
11.8 x
11.7 x
11.4 x
VERTIV
Amphenol Littelfuse
GENERAC
legrand
ABB
Schneider
Electric
TE
HUBBELL
EATON
Source: Vertiv EBITDA per management estimates, peers per IBES median estimates; market data as of 6-Dec-2019
Note: See "Non-GAAP Financial Measures" and "Additional Financial Information" beginning on slide 38 of the Appendix. Vertiv multiples based on enterprise value at listing of $5.3bn. All data based on USD.
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