ZAGG Inc to Evercel, Inc.

Deal Information

Target

ZAGG Inc

Acquiror

Evercel, Inc.

Sector

Consumer Electronics

Target Type

Public

Acquiror Type

Financial

Advisors

BofA

Enterprise Value

$207M

EV / LTM Sales

EV / LTM EBITDA

5.4x

EV / Fwd EBITDA

4.4x

Comparable transactions cited by the advisor, excluding the subject transaction.

EV/LTM EBITDA selected range: 9.4x - 11.4x

23 comps


-	-	TEAC Corporation	Global Acoustic Partners	-	-	-	-
-	-	Outdoor Tech	Protempo US Ltd	-	-	-	-
-	-	FitBit, Inc.	Google LLC	-	-	-	-
	Jul 2019	Pro Audio GmbH	Focusrite plc	-	-	10.4x	-
-	-	Halo2Cloud, LLC	ZAGG Inc	-	-	-	-
-	-	Gear4 HK Limited	ZAGG Inc	-	-	-	-
-	-	BRAVEN Audio	ZAGG Inc	-	-	-	-
-	-	Blue Microphones	Logitech International S.A.	-	-	-	-
	Jul 2017	Corsair Gaming, Inc.	EagleTree Capital	-	-	12.1x	-
-	-	ASTRO Gaming	Logitech International S.A.	-	-	-	-
-	-	Triad Speakers, Inc.	Control4 Corporation	-	-	-	-
	-	Harman International Industries, Inc.	Samsung Electronics Co., Ltd.	-	-	10.0x	-
	-	Skullcandy, Inc.	Mill Road Capital	-	-	11.8x	-
-	-	JayBird	Logitech International S.A.	-	-	-	-
-	-	mophie inc	ZAGG Inc	-	-	-	-
-	-	Dynaudio A/S	GoerTek Inc.	-	-	-	-
-	-	Cabasse SAS	AwoX S.A.	-	-	-	-
-	-	Cobra Electronics Corp.	Monomoy Capital Partners	-	-	-	-
-	-	Yurbuds	Harman International Industries, Inc.	-	-	-	-
-	-	Beats Electronics LLC	Apple Inc.	-	-	-	-
	Feb 2012	Nixon	Trilantic Capital Partners	-	-	9.2x	-
-	-	iFrogz Inc.	ZAGG Inc	-	-	-	-
-	-	Klipsch Group, Inc.	Audiovox Corp.	-	-	-	-
		Mean			-	10.7x	-
		Median			-	10.4x	-

Discount rate and terminal value assumptions the advisor selected for its discounted cash flow analysis.

Advisor	WACC	Terminal method	Terminal assumption	Forecast basis	Forecast period	Filing
BofA	10.0% – 12.5%	Perpetuity growth	-1.0% – 1.0%	Company Projections	January 1, 2021 through December 31, 2024	Open