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Screening process carried out based on client's initial financial criteria and what changes I implemented to adjust the number of target companies. Used Bloomberg for data screening process. Allowed client to see which factors were restricting the target pool, and henceforth how to adjust criteria.
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SCREENING PROCESS
July 8, 2013
Initial Screen
2
• SGD• SGX• Singapore Companies• 5m < EBITDA < 15m• EBITDA Margins > 15%• CAGR 4-FY > 10%• PX/EBITDA < 7 times
Initial Screen
133
39
15
778
6
778SGD, SGX
5M < EBITDA < 15M
EBITDA Margin >15%
CAGR > 10%
Price/EBITDA < 7 Times
Without EBITDA Margin
4
778
133
42
21
SGD, SGX
5M < EBITDA < 15M
CAGR > 10%
Price/EBITDA < 7 Times
Without CAGR
5
778
133
39
18
SGD, SGX
5M < EBITDA < 15M
EBITDA Margin >15%
Price/EBITDA < 7 Times
6
Without EBITDA Margin
Without CAGR
Original Screen WITH BOTH EBITDA Margin and CAGR
21
6
18
Changes in EBITDA
7
2019181716151413121110986 7543
Nu
mb
er o
f F
irm
s
EBITDA (Millions)
+2 Firms
12
11
10
9
8
6
7
+3 Firms
Original
Changes in EBITDA Margin
8
>16>15>14>13>12>11>10>8 >9>7>6
Nu
mb
er o
f F
irm
s
EBITDA Margin (%)
12
11
10
9
8
6
7
Original
Changes in CAGR
9
>15>14>13>12>11>10>9>7 >8>6>5
Nu
mb
er o
f F
irm
s
4 Year CAGR (%)
Original
12
11
10
9
8
6
7
Screening Comparison
10
• Original Screen– 5M < EBITDA < 15M– EBITDA Margin > 15%– CAGR 4-FY > 10%– Price/EBITDA < 7 times– Result: 6 Firms
Screening Comparison
11
• No CAGR–5M < EBITDA < 15M–EBITDA Margin > 15%–Price/EBITDA < 7 times–Result: 18 Firms
• No CAGR, No Price/EBITDA–5M < EBITDA < 15M–EBITDA Margin > 15%–Result: 39 Firms
Screening Comparison
12
• No EBITDA Margin– 5M < EBITDA < 15M– CAGR 4-FY > 10%– Price/EBITDA < 7 times– Result: 21 Firms
• No EBITDA Margin, No Price/EBITDA– 5M < EBITDA < 15M– CAGR 4-FY > 10%– Result: 42 Firms
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