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Industry Update: Industrial & Manufacturing M&A – October 2016

October, 2016.

For year-to-date 2016, strategic buyers accounted for approximately 93% of industrial & manufacturing M&A transactions. During 2015, strategic buyers accounted for just over 90% of the transactions.

For closed transactions, industrial & manufacturing transaction multiples increased from 8.4x EBITDA and 1.3x revenue in 2014 to 10.5x EBITDA and 1.1x revenue in 2015

Notable publicly announced 2016 M&A transactions:

– Tesla Motors, Inc. made a proposal to acquire SolarCity Corporation for approximately $7.1 billion

– Cintas Corporation entered into a definitive agreement to acquire G&K Services, Inc. for approximately of $2.2 billion

– Teleperformance SE entered into a definitive agreement to acquire LanguageLine Solutions, Inc. for approximately $1.5 billion

– Konecranes Plc agreed to acquire Terex Corporation, Material Handling and Port Solutions business for approximately $1.3 billion

– Sovran Acquisition LP entered into a definitive agreement to acquire Lifestorage, LP for $1.3 billion

Notable IPO’s include Forterra, Green Plains Partners LP, Milacron Holdings, JELD-WEN Holdings, Inc. and Atkore International Group, Inc.

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