Industry Overview | M&A Transaction Comparables (Oil & Gas Engineering)
Target Buyer/Investor Announced Date Closed Date Total Transaction Value Implied Enterprise Value Target Total Revenue [LTM] Implied EV/Revenue (x) Target EBITDA [LTM] Target EBITDA Margin % Implied EV/EBITDA (x)
EnerMech Limited The Carlyle Group L.P. (NasdaqGS:CG) 10/15/2018 $592 $592 $351 1.7x $42 12% 14.0x
McDermott International, Inc. (NYSE:MDR) Subsea 7 S.A. (OB:SUBC) 04/23/2018 Cancelled $2,140 $2,553 $3,073 0.7x $445 14% 4.8x
CH2M HILL Companies, Ltd. Jacobs Engineering Group Inc. (NYSE:JEC) 08/02/2017 12/15/2017 $3,274 $3,368 $5,189 0.6x -$133 NM NM
AFW UK Oil & Gas Limited WorleyParsons Limited (ASX:WOR) 10/09/2017 10/27/2017 $239 $299 $970 0.2x $62 6% 3.9x
Amec Foster Wheeler plc John Wood Group PLC (LSE:WG.) 03/13/2017 10/06/2017 $4,477 $4,032 $6,717 0.6x $385 6% 10.6x
WS Atkins plc SNC-Lavalin Group Inc. (TSX:SNC) 04/03/2017 07/03/2017 $2,702 $3,022 $2,607 1.0x $234 9% 11.6x
FMC Technologies, Inc. TechnipFMC plc (NYSE:FTI) 05/19/2016 01/16/2017 $6,804 $7,836 $5,876 1.2x $807 14% 8.4x
 
Maximum $6,804 $7,836 $6,717 1.7x $807 14% 14.0x
75th Percentile $3,876 $3,700 $5,533 1.1x $415 13% 11.4x
Median $2,702 $3,022 $3,073 0.7x $234 11% 9.5x
25th Percentile $1,366 $1,572 $1,788 0.6x $52 7% 5.7x
Minimum $239 $299 $351 0.2x -$133 6% 3.9x
Average $2,890 $3,100 $3,540 0.9x $263 10% 8.9x
($USD mm, Historical rate)**

**M&A Transaction Comparables based on Target’s Last Twelve Months [LTM] Financial Disclosures at the date of Announcement

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