Page 6 - IPO Analysis - Private Equity Exits 2017_Final

Private equity exits via IPO in

2017

Private Equity
IPO Sell Down as a Price Aggregate Total Estimated Private Equity Sponsor Sponsor lock-up
Private Equity Market Cap Size proportion of Change Sponsor + Orderly
Date Company Sector Banks Underwritten Commission / Fee Structure Expenses (incl. Relationship Agreement
Sponsor(s) at IPO (£m) (£M) IPO (%) Since IPO Retained Stake Market Periods
(%) at IPO (%) Commissions) (£m) (Key Terms) (Months from
IPO)
30.10.17 TI Fluid Automobiles & Bain Capital Funds 1,300.00 347.0 No sell down -0.3 65.9 Goldman Yes - Commission of 2% payable 58.0 - Right to nominate 2 6+0
Systems plc transportation Sachs, JP by company and the selling non-exec directors for so
Morgan, shareholders (not being Bain long as holds 25% or
Deutsche Capital Funds) more of the issued share
Bank, capital
Citigroup, - Discretionary commission
HSBC, of up to 1.25% payable by - Right to nominate 1
Lazard company and selling non exec director for so
shareholders long as holds 10% to
25% of the issued share
capital
- Terminate if holds less
than 10% of the issued
share capital
- For as long as holds
more than 10% of the
issued share capital the
non-exec appointed is
entitled to be a member
of the nomination
committee and, if
permitted by the relevant
chairman, observe the
remuneration and audit
committees

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