Acquisition History

Air Plus

Global

Cash on Close

A

$17.50

$5.00

$5.10

Base Earn-Out

$17.00

$5.00

$5.00

Base Purchase Price

B

$34.50

$10.00

$10.10

Additional Earn-out

-

$2.00

(1)

$6.00

(2)

$34.50

$12.00

$16.10

Annual Earnings Target

C

$6.00

$2.00

$2.20

Valuation Multiple - Earn-Out Targets

Based on Cash at Close

A/C

2.9x

2.5x

2.3x

Including Base Earn-Out

B/C

5.8x

4.6x

(1) 40% of earnings in excess of $10M over the 5 year earn-out period up to a maximum of $2M.

*In millions except for multiples

(2) 50% of earnings in excess of $2.2M annual earnings target for each of the 4 years of the earn-out period, subject to a

maximum of $6M.

5.0x

UAFS

Total Purchase Price

Previous slide

Next slide

Back to first slide

View graphic version