Deal Detail

Futuris Global Holdings, LLC to Adient PLC

EV / LTM EBITDA

7.0x

EV / LTM Sales

Enterprise Value

$400M

Primary Source

JPMorgan

Comparable Transactions

Industrials transactions announced in the five years to August 2017. 7 with a disclosed multiple.

Date	Target	Acquiror	Enterprise Value	EV/Sales	EV/EBITDA	Type
Jun 2017	Waterworks Operating Agreement LLC	CD&R	-	-	10.5x	Financial
Nov 2016	Metaldyne Performance Group Inc.	American Axle & Manufacturing Holdings Inc.	$3.3B	-	6.5x	Strategic
Aug 2016	Emerson Electric Co. (Motors, Drives and Electric Power Generation businesses)	Nidec Corporation	$1.2B	-	6.9x	Strategic
Jul 2015	Cromwell	W.W. Grainger Inc.	-	-	11.0x	Strategic
Mar 2015	PrimeSource	Platinum Equity	-	-	7.9x	Financial
Aug 2014	Tri-ED	Anixter	-	-	11.7x	Strategic
May 2014	Hillman Group	CCMP	-	-	10.8x	Financial
	Mean			-	9.3x
	Median			-	10.5x

Source-specific multiples and notes for this transaction.

Comp	Primary?	Source Type	Source	Source Advisor	Source Year	EV (USD)	EV/Sales	EV/EBITDA	EV/Fwd EBITDA	Note	Citation
	Primary	fairness opinion	LEG FO	JPMorgan	2026	$400M	-	7.0x	-	-	Open