Deal Detail

Victory Packaging to KapStone Paper and Packaging Corporation

EV / LTM EBITDA

11.2x

EV / LTM Sales

Enterprise Value

Primary Source

Morgan Stanley

Comparable Transactions

Industrials transactions announced in the five years to June 2015. 5 with a disclosed multiple.

Date	Target	Acquiror	Enterprise Value	EV/Sales	EV/EBITDA	Type
Apr 2015	ProBuild Holdings LLC	Builders FirstSource, Inc.	-	-	8.6x	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
May 2012	Interline Brands, Inc.	GS Capital Partners	-	-	10.1x	Financial
	Mean			-	9.8x
	Median			-	10.1x

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	VRTV FO	Morgan Stanley	2023	-	-	11.2x	-	-	Open