Distribution & Logistics Report Q3 2017 · 8/21/2017 Westland Distributing, Inc. Ogdon Ventures LLC Industrial - - - 8/09/2017 Airgas Refrigerants, Inc. Hudson Holdings, Inc. Industrial

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Date Target Buyer(s) SegmentAmount

($ in Mil)TEV/ Rev TEV/ EBITDA

9/05/2017 Key Tronic Corp. Cemtrex, Inc. Logistics Providers 74.86 0.2x 6.4x

8/31/2017 International Seaways, Inc. Cobas Asset Management SGIIC SA Logistics Providers 909.83 2.8x 8.9x

8/24/2017 Allied Building Products Corp. Beacon Roofing Supply, Inc. Building Products 2,625.00 1.0x 14.0x

8/21/2017 Westland Distributing, Inc. Ogdon Ventures LLC Industrial - - -

8/09/2017 Airgas Refrigerants, Inc. Hudson Holdings, Inc. Industrial 220.00 - -

8/08/2017 American Medical Response, Inc. KKR & Co. L.P. (NYSE:KKR) Logistics Providers 2,400.00 - -

8/07/2017 Power-Plus Technical Distributors LLC Coolisys Technologies, Inc. Industrial 0.85 0.4x -

7/31/2017 Odyssey Logistics & Technology Corp. The Jordan Co. LP Logistics Providers - - -

7/06/2017 Interstate Distributor Co. Heartland Express, Inc. Trucking 113.00 0.3x -

Strategic73%

Financial27%

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Strategic Buyer Inv. Date Select Corporate Acquisitions

Beacon Roofing Supply, Inc. 8/24/2017 ▪ Allied Building Products Corp.

5/1/2017 ▪ Lowry's, Inc.1/3/2017 ▪ American Building & Roofing, Inc.

12/16/2016 ▪ BJ Building Material Supply Co.

US Foods Holding Corp. 7/14/2017 ▪ Toba, Inc. (3 Subsidiaries)

6/2/2017 ▪ F. Christiana & Co

4/24/2017 ▪ First Class Foods, Inc.

3/6/2017 ▪ SRA Foods, Inc.

9/30/2016 ▪ Jeraci Food Distributors, Inc.

American Builders & Contractors Supply Co., Inc. 5/15/2017 ▪ Acoustical Ceiling Supply Co.11/10/2016 ▪ Trumbull Vinyl Products, Inc.

10/25/2016 ▪ Ace Aluminum Distributors, Inc.

GMS, Inc. 8/2/2017 ▪ ASI Building Products LLC

12/6/2016 ▪ SGI, Inc.

11/1/2016 ▪ Ryan Building Materials, Inc.

SiteOne Landscape Supply, Inc. 8/7/2017 ▪ South Coast Supply Co.

5/25/2017 ▪ Evergreen Partners of Raleigh LLC

3/13/2017 ▪ Angelo's Supplies, Inc.

1/4/2016 ▪ Hydro-Scape Products, Inc.

Bekins Moving & Storage Co. 4/3/2017 ▪ Crown Moving Co., Inc.

8/3/2016 ▪ Kennewick Transfer & Storage Inc. and Sanders Transfer

5/26/2016 ▪ Clancy's Transfer and Storage Inc.

GlobalTranz Enterprises, Inc. 6/16/2017 ▪ Worthington Logistics Solutions, Inc.

5/16/2017 ▪ Hall Enterprises, Inc.

1/10/2017 ▪ Global Freight Source, Inc.

Daseke, Inc. 9/5/2017 ▪ R&R Trucking, Inc.7/5/2017 ▪ Steelman Transportation, Inc.

5/1/2017 ▪ Schilli Transportation Services, Inc.

Financial Buyer Inv. Date Select Corporate Investments

Audax Private Equity 7/19/2017 ▪ JPC Enterprises, Inc.

4/4/2017 ▪ AFI Shareholder LLC

11/8/2016 ▪ Engineering Controls, Inc.7/19/2016 ▪ RelaDyne, Inc.

CI Capital Partners LLC 6/19/2017 ▪ Angelus Welding, Inc.

3/6/2017 ▪ Simplified Logistics LLC12/16/2016 ▪ Cadence Chemical Corp.

New Mountain Capital LLC 6/14/2017 ▪ Attentus Medical Sales, Inc.5/5/2017 ▪ VWR Corp.8/19/2016 ▪ JDA Software Group, Inc.

Ridgemont Equity Partners 1/17/2017 ▪ Worldwide Express Operations LLC

9/7/2016 ▪ Nolan Transportation Group, Inc.7/1/2016 ▪ WhiteWater Midstream

The Carlyle Group LP 9/13/2017 ▪ Aleph Global, Inc.

9/5/2017 ▪ United Road Services, Inc.

1/3/2017 ▪ Flyte Tyme Worldwide Transportation

ABRY Partners, LLC 2/6/2017 ▪ Highwinds Network Group, Inc.2/6/2016 ▪ FLS Transportation Services, Inc.


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Automotive Building Products Electronic Components Food & Beverage

Industrial Medical Wire & Cable S&P 500

Company Name SymbolMarket Cap

($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Genuine Parts Co. GPC-US 14,044$ 95.65$ 3.1% 0.1% 94.8% 7.1% 8.4% 0.9x 12.7x 20.7x 0.9x 10.6x

LKQ Corp. LKQ-US 11,116 35.99 9.2% 17.4% 99.8% 7.8% 12.3% 1.5x 13.1x 22.2x 1.4x 11.6x

Dorman Products, Inc. DORM-US 2,440 71.62 -13.5% -2.0% 80.9% 9.0% 21.9% 2.6x 11.6x 21.8x 2.4x 10.5x

Kaman Corp. KAMN-US 1,556 55.78 11.9% 14.0% 98.9% 8.1% 8.7% 1.1x 13.1x 30.0x 1.0x 10.8x

Uni-Sélect, Inc. UNS-CA 911 21.56 -13.9% -8.6% 78.8% 24.7% 9.6% 0.8x 9.3x 16.6x 0.7x 7.5x

Essendant, Inc. ESND-US 494 13.17 -11.2% -37.0% 58.5% (2.9%) 2.3% 0.2x 7.8x NM 0.2x 7.2x

Lawson Products, Inc. LAWS-US 224 25.20 13.8% 5.9% 89.7% 5.9% 5.5% 0.8x 29.1x 43.9x 0.7x 13.4x

Segment Average $4,398 (0.1%) (1.4%) 85.9% 8.5% 9.8% 1.1x 13.8x 25.9x 1.0x 10.2x

Segment Median $1,556 3.1% 0.1% 89.7% 7.8% 8.7% 0.9x 12.7x 22.0x 0.9x 10.6x

Market Stats Operating Stats LTM Multiples NTM Multiples



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Ferguson Plc WOS-GB 16,637$ 65.69$ 3.9% -1.3% 98.4% 17.7% 8.8% 0.8x 10.7x 16.6x 0.7x 9.7x

HD Supply Holdings, Inc. HDS-US 6,732 36.07 17.8% -15.1% 80.6% (30.5%) 14.9% 1.6x 13.9x 11.2x 2.1x 14.8x

Pool Corp. POOL-US 4,459 108.17 -8.0% 3.7% 87.1% 7.7% 16.3% 1.8x 16.3x 28.1x 1.8x 15.5x

Beacon Roofing Supply, Inc. BECN-US 3,469 51.25 4.6% 11.2% 98.3% 8.3% 10.2% 1.1x 11.9x 30.3x 0.9x 10.6x

BMC Stock Holdings, Inc. BMCH-US 1,430 21.35 -2.3% 9.5% 89.3% 10.7% 6.4% 0.6x 10.0x 35.0x 0.5x 7.9x

Boise Cascade Co. BCC-US 1,345 34.90 14.8% 55.1% 97.5% 10.6% 5.3% 0.4x 10.8x 29.3x 0.4x 7.4x

Huttig Building Products, Inc. HBP-US 183 7.06 0.7% 6.8% 76.4% NM 2.7% 0.4x 17.2x 32.1x NM NM

BlueLinx Holdings, Inc. BXC-US 94 10.33 -5.6% 38.3% 87.7% NM 2.4% 0.2x 12.4x 3.2x NM NM

Segment Average $4,294 3.2% 13.5% 89.4% 4.1% 8.4% 0.9x 12.9x 23.2x 1.1x 11.0x




($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

W.W. Grainger, Inc. GWW-US 10,370$ 179.75$ -0.4% -22.6% 68.4% 5.1% 11.9% 1.2x 9.4x 20.6x 1.2x 9.0x

Arrow Electronics, Inc. ARW-US 7,097 80.41 2.5% 12.8% 95.1% 8.4% 4.5% 0.4x 8.8x 14.7x 0.4x 8.1x

Avnet, Inc. AVT-US 4,793 39.30 1.1% -17.5% 76.3% 1.4% 4.2% 0.3x 7.2x 16.7x 0.3x 7.0x

Tech Data Corp. TECD-US 3,390 88.85 -12.0% 4.9% 80.0% 21.3% 1.6% 0.2x 9.3x 16.7x 0.1x 6.2x

WESCO International, Inc. WCC-US 2,794 58.25 1.7% -12.5% 76.5% 5.7% 5.2% 0.6x 10.5x 27.9x 0.5x 10.0x

ScanSource, Inc. SCSC-US 1,110 43.65 8.3% 8.2% 97.1% 5.1% 3.3% 0.3x 9.6x 16.1x 0.3x 8.5x

Richardson Electronics Ltd. RELL-US 64 5.97 0.0% -5.2% 84.2% 0.3% 1.5% 0.1x NM NM 0.1x NM

Segment Average $4,231 0.2% (4.6%) 82.5% 6.8% 4.6% 0.4x 9.1x 18.8x 0.4x 8.1x

Segment Median $3,390 1.1% (5.2%) 80.0% 5.1% 4.2% 0.3x 9.4x 16.7x 0.3x 8.3x



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Sysco Corp. SYY-US 28,479$ 53.95$ 7.2% -2.6% 94.5% 4.2% 5.8% 0.7x 11.6x 25.9x 0.6x 10.8x

US Foods Holding Corp. USFD-US 5,991 26.70 -1.9% NA 86.9% 5.7% 3.8% 0.4x 10.9x 18.5x 0.4x 8.9x

Performance Food Group Co. PFGC-US 2,940 28.25 3.1% 17.7% 94.5% 8.0% 2.7% 0.2x 12.2x 30.4x 0.2x 9.6x

United Natural Foods, Inc. UNFI-US 2,105 41.59 13.3% -12.8% 83.6% 5.8% 3.7% 0.3x 7.8x 16.2x 0.3x 7.3x

Core-Mark Holding Co., Inc. CORE-US 1,489 32.14 -2.8% -25.4% 72.9% 9.4% 0.7% 0.1x 14.5x 36.0x 0.1x 9.9x

SpartanNash Co. SPTN-US 983 26.37 1.6% -33.3% 65.3% 4.0% 3.2% 0.2x 7.1x 15.2x 0.2x 6.3x

The Chefs' Warehouse, Inc. CHEF-US 509 19.30 48.5% 22.2% 96.7% 8.9% 5.2% 0.6x 13.7x 39.4x 0.6x 11.2x






($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

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Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Fastenal Co. FAST-US 13,126$ 45.58$ 4.7% -3.0% 86.4% 12.3% 24.0% 3.2x 13.6x 25.0x 2.9x 12.6x

W.W. Grainger, Inc. GWW-US 10,370 179.75 -0.4% -22.6% 68.4% 5.1% 11.9% 1.2x 9.4x 20.6x 1.2x 9.0x

Genuine Parts Co. GPC-US 14,044 95.65 3.1% 0.1% 94.8% 7.1% 8.4% 0.9x 12.7x 20.7x 0.9x 10.6x

HD Supply Holdings, Inc. HDS-US 6,732 36.07 17.8% -15.1% 80.6% (30.5%) 14.9% 1.6x 13.9x 11.2x 2.1x 14.8x

MSC Industrial Direct Co., Inc. MSM-US 3,408 75.57 -12.1% -18.2% 71.5% NM NM 1.7x 10.8x NM 1.5x 10.0x

WESCO International, Inc. WCC-US 2,794 58.25 1.7% -12.5% 76.5% 5.7% 5.2% 0.6x 10.5x 27.9x 0.5x 10.0x

NOW, Inc. DNOW-US 1,487 13.81 -14.1% -32.5% 58.7% 31.8% (0.2%) 0.6x NM NM 0.5x 18.2x

MRC Global, Inc. MRC-US 1,652 17.49 5.9% -13.7% 77.7% 21.4% 3.7% 0.7x 24.0x NM 0.6x 10.5x

Lawson Products, Inc. LAWS-US 224 25.20 13.8% 5.9% 89.7% 5.9% 5.5% 0.8x 29.1x 43.9x 0.7x 13.4x





($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

McKesson Corp. MCK-US 32,298$ 153.61$ -6.6% 9.4% 90.7% 4.4% 1.6% 0.2x 9.7x 7.0x 0.2x 8.9x

Cardinal Health, Inc. CAH-US 21,094 66.92 -14.1% -7.0% 78.8% 6.6% 2.5% 0.2x 7.7x 16.6x 0.2x 7.5x

AmerisourceBergen Corp. ABC-US 18,132 82.75 -12.5% 5.8% 84.6% 8.8% 1.4% 0.1x 8.5x NM 0.1x 8.8x

Henry Schein, Inc. HSIC-US 12,964 81.99 -10.4% 8.1% 87.7% 7.2% 8.4% 1.3x 14.9x 24.0x 1.2x 13.6x

Patterson Cos., Inc. PDCO-US 3,699 38.65 -17.7% -5.8% 78.5% 1.6% 6.0% 0.9x 9.7x 22.5x 0.8x 11.0x

Owens & Minor, Inc. OMI-US 1,788 29.20 -9.3% -17.3% 78.9% 5.9% 2.6% 0.2x 8.7x 18.6x 0.2x 8.1x

Aceto Corp. ACET-US 338 11.23 -27.3% -48.9% 50.0% 21.8% 8.1% 1.0x 9.8x 32.1x 0.9x 8.5x

Segment Average $12,902 (14.0%) (8.0%) 78.5% 8.0% 4.4% 0.6x 9.9x 20.1x 0.5x 9.5x

Segment Median $12,964 (12.5%) (5.8%) 78.9% 6.6% 2.6% 0.2x 9.7x 20.5x 0.2x 8.8x



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Genuine Parts Co. GPC-US 14,044 95.65 3.1% 0.1% 94.8% 7.1% 8.4% 0.9x 12.7x 20.7x 0.9x 10.6x

Arrow Electronics, Inc. ARW-US 7,097 80.41 2.5% 12.8% 95.1% 8.4% 4.5% 0.4x 8.8x 14.7x 0.4x 8.1x

Avnet, Inc. AVT-US 4,793 39.30 1.1% -17.5% 76.3% 1.4% 4.2% 0.3x 7.2x 16.7x 0.3x 7.0x

Anixter International, Inc. AXE-US 2,825 85.00 8.7% 4.9% 96.6% 5.3% 4.9% 0.5x 11.4x 19.3x 0.5x 9.3x

Houston Wire & Cable Co. HWCC-US 87 5.25 1.0% -19.2% 65.2% 9.9% 0.9% 0.5x 537.8x NM 0.5x NM





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15%

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Trucking Software Warehousing & Storage Logistics Providers S&P 500


($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

J.B. Hunt Transport Services, Inc. JBHT 12,156$ 111.08$ 21.6% 14.4% 99.5% 11.9% 15.0% 1.9x 12.7x 29.2x 1.8x 11.4x

Old Dominion Freight Line, Inc. ODFL 9,072 110.11 15.6% 28.3% 99.7% 11.3% 25.8% 2.9x 12.4x 28.5x 2.6x 11.1x

Ryder System, Inc. R 4,480 84.55 17.5% 13.6% 99.0% 5.7% 25.0% 1.4x 5.6x 20.4x 1.3x 5.3x

Landstar System, Inc. LSTR 4,178 99.65 16.4% 16.8% 99.7% 10.1% 8.1% 1.2x 14.9x 28.8x 1.1x 13.3x

Knight-Swift Transportation Holdings, Inc. KNX 7,379 41.55 12.1% 25.7% 93.5% 348.9% 22.4% 6.5x 30.0x 42.8x 0.7x 4.1x

Navistar International Corp. NAV 4,327 44.07 68.0% 40.5% 98.6% 9.7% 9.2% 1.1x 17.1x NM 1.0x 11.3x

Werner Enterprises, Inc. WERN 2,642 36.55 24.5% 35.6% 99.9% 6.5% 17.4% 1.3x 7.4x 33.2x 1.2x 6.9x

Heartland Express, Inc. HTLD 2,089 25.08 20.5% 23.2% 99.5% 43.1% 29.0% 3.5x 11.5x 38.6x 2.4x 8.5x

Saia, Inc. SAIA 1,594 62.65 22.1% 41.9% 99.8% 12.3% 14.5% 1.3x 13.4x 30.4x 1.2x 8.6x

Marten Transport Ltd. MRTN 1,120 20.55 25.0% 47.0% 97.2% 5.0% 20.4% 1.6x 8.3x 33.0x 1.6x 7.3x

ArcBest Corp. ARCB 860 33.45 62.4% 21.0% 98.5% 7.2% 7.0% 0.3x 6.5x 38.4x 0.3x 5.5x

Universal Logistics Holdings, Inc. ULH 582 20.45 36.3% 25.1% 98.8% 12.1% 5.9% 0.7x 11.3x 39.3x 0.6x 8.1x

YRC Worldwide, Inc. YRCW 463 13.80 24.1% 3.9% 81.3% 6.3% 6.8% 0.2x 4.6x NM 0.2x 3.6x

Roadrunner Transportation Systems, Inc. RRTS 365 9.53 31.1% -8.3% 80.2% NM NM 0.4x 8.1x NM 0.4x 6.1x

Covenant Transportation Group, Inc. CVTI 462 28.98 65.3% 49.8% 98.0% (0.8%) 15.9% 1.1x 6.9x 51.8x 1.1x 6.4x

Celadon Group, Inc. CGI 191 6.75 114.3% -5.6% 69.2% NM NM 0.5x 6.8x NM 0.5x 6.0x

P.A.M. Transportation Services, Inc. PTSI 152 23.93 26.3% -7.9% 84.2% 2.3% 12.4% 0.7x 5.2x 18.8x 0.6x 4.6x

USA Truck, Inc. USAK 117 14.05 62.2% 61.3% 99.6% 9.2% 3.6% 0.6x 13.8x NM 0.5x 6.3x

31.3% 14.9%9.4% 14.7%




($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Aspen Technology, Inc. AZPN 4,591$ 62.81$ 13.7% 14.9% 96.8% 3.5% 40.7% 9.6x 21.2x 29.8x 9.7x 20.4x

Manhattan Associates, Inc. MANH 2,865 41.57 -13.5% -21.6% 69.7% 3.4% 35.4% 4.7x 13.7x 24.0x 4.5x 12.6x

The Descartes Systems Group, Inc. DSGX 2,088 27.35 12.3% 27.8% 93.5% 18.1% 32.2% 9.4x 28.2x 83.2x 8.0x 22.7x

SPS Commerce, Inc. SPSC 977 56.71 -11.1% -18.9% 76.0% 17.6% 10.3% 4.0x 35.7x 107.0x 3.4x 22.0x

QAD, Inc. QADA 633 34.35 7.2% 13.0% 98.4% 5.1% 2.6% 1.8x 42.9x NM 1.6x 28.4x

American Software, Inc. AMSWA 311 11.36 10.4% 10.0% 93.9% 5.2% 18.6% 2.4x 15.8x 21.8x 2.3x 12.3x

Park City Group, Inc. PCYG 236 12.15 0.0% -4.3% 71.5% 41.7% 20.1% 12.0x 51.8x 81.0x 8.8x 25.7x

Amber Road, Inc. AMBR 209 7.68 -10.4% -15.4% 62.4% 14.6% (11.3%) 2.9x NM NM 2.5x NM

13.6% 18.6%9.9% 19.4%



($ in Mil)Price ($)

Quarter

Change

YTD

Change

% of 52

Week High

Est.

Revenue

Growth

EBITDA

Margin

TEV/

Rev

TEV/

EBITDA

Price/

EPS

TEV/

NTM

Revenue

TEV/

NTM

EBITDA

Public Storage PSA 37,235$ 213.99$ 2.6% -4.3% 92.2% 5.2% 70.3% 16.0x 22.7x 30.5x 15.2x 21.2x

PACCAR, Inc. PCAR 25,419 72.34 9.5% 13.2% 98.7% 4.2% 17.9% 1.2x 7.4x 19.3x 1.2x 7.0x

Extra Space Storage, Inc. EXR 10,063 79.92 2.5% 3.5% 96.0% 9.1% 66.0% 14.1x 21.5x 27.4x 13.4x 19.9x

Westinghouse Air Brake Technologies Corp. WAB 7,271 75.75 -17.2% -8.8% 80.7% 22.4% 20.5% 2.5x 13.8x 26.6x 2.2x 13.2x

CubeSmart CUBE 4,678 25.96 8.0% -3.0% 91.8% 7.5% 60.7% 11.9x 19.7x 45.1x 11.1x 18.5x

Life Storage, Inc. SSS 3,809 81.81 10.4% -4.0% 89.8% 8.4% 54.7% 10.5x 22.4x 78.7x 10.3x 18.2x

Dana, Inc. DAN 4,045 27.96 25.2% 47.3% 99.0% 11.6% 10.8% 0.9x 8.1x 6.0x 0.8x 6.5x

Navistar International Corp. NAV 4,327 44.07 68.0% 40.5% 98.6% 9.7% 9.2% 1.1x 17.1x NM 1.0x 11.3x

American Axle & Manufacturing Holdings, Inc. AXL 1,956 17.58 12.7% -8.9% 82.7% 36.9% 17.5% 1.2x 7.1x 6.1x 0.9x 4.8x

Mobile Mini, Inc. MINI 1,522 34.45 15.4% 13.9% 93.0% 5.5% 30.3% 4.7x 14.1x 30.0x 4.6x 12.3x

Meritor, Inc. MTOR 2,304 26.01 56.6% 109.4% 96.7% 13.9% 9.8% 1.0x 16.2x 4.3x 0.9x 8.2x

Wabash National Corp. WNC 1,347 22.82 3.8% 44.2% 94.5% (2.9%) 10.8% 0.8x 7.0x 14.7x 0.9x 7.3x

National Storage Affiliates Trust NSA 1,073 24.24 4.9% 9.8% 92.7% 25.3% 56.9% 10.2x 18.8x 105.4x 8.2x 13.9x

12.1% 33.5%9.1% 20.5%



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EBITDA

Margin

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TEV/

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Price/

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TEV/

NTM

EBITDA

United Parcel Service, Inc. UPS 82,715$ 120.09$ 8.6% 4.8% 99.7% 6.9% 17.6% 1.9x 15.5x 29.4x 1.8x 10.6x

FedEx Corp. FDX 60,489 225.58 3.8% 21.1% 99.7% 5.7% 12.2% 1.2x 8.8x 21.2x 1.1x 7.9x

C.H. Robinson Worldwide, Inc. CHRW 10,679 76.10 10.8% 3.9% 93.8% 7.8% 5.5% 0.8x 13.7x 22.3x 0.8x 13.3x

Expeditors International of Washington, Inc. EXPD 10,819 59.86 6.0% 13.0% 99.3% 9.1% 10.8% 1.5x 13.8x 25.9x 1.4x 13.4x

XPO Logistics, Inc. XPO 7,986 67.78 4.9% 57.0% 99.5% 6.2% 9.3% 0.9x 10.7x 77.0x 0.9x 8.7x

Hub Group, Inc. HUBG 1,438 42.95 12.0% -1.8% 81.8% 12.4% 3.2% 0.4x 10.3x 25.6x 0.3x 8.9x

Forward Air Corp. FWRD 1,734 57.23 7.4% 20.8% 99.2% 11.4% 15.0% 1.7x 12.0x 30.0x 1.5x 10.4x

Atlas Air Worldwide Holdings, Inc. AAWW 1,663 65.80 26.2% 26.2% 95.8% 15.3% 19.5% 1.8x 9.6x 21.9x 1.6x 7.5x

Air Transport Services Group, Inc. ATSG 1,439 24.34 11.8% 52.5% 93.9% 24.4% 24.0% 2.1x 8.8x NM 1.7x 6.3x

Echo Global Logistics, Inc. ECHO 538 18.85 -5.3% -24.8% 65.2% 9.5% 2.5% 0.4x 18.8x NM 0.4x 11.3x

Park-Ohio Holdings Corp. PKOH 570 45.60 19.7% 7.0% 97.0% 9.1% 9.1% 0.8x 9.2x 17.2x 0.7x 7.8x

10.7% 11.7%9.1% 10.8%








Documents

Distribution & Logistics Report Q3 2017 · 8/21/2017 Westland Distributing, Inc. Ogdon Ventures LLC Industrial - - - 8/09/2017 Airgas Refrigerants, Inc. Hudson Holdings, Inc. Industrial