AAIA Factbook 2011 - (Page 25)

afTerMarkeT Mergers anD aCquIsITIons Capital Markets Automotive Aftermarket Quarterly M&A Update U.S. Merger & Acquisition Trends (All Industries) www.bbtcapitalmarkets.com First Quarter 2010 Merger and acquisition activity picked up meaningfully in the first quarter buoyed by renewed confidence among strategic buyers and significant improvement in the credit markets which has revitalized private equity. We expect the recent momentum in M&A to continue throughout 2010. As the chart below depicts, the expected increase in M&A volume is consistent with activity as the economy emerged from prior recessions. Total Number of U.S. Transactions Announced Since 1980 (All Industries) 12,000 10,000 8,000 6,000 4,000 2,000 0 1983 +29% 1992 +37% Q1 2010 +33% 2003 +9% YTD YTD 2009 2010 Source: FactSet MergerStat Notes: Shaded areas (grey) represent economic recessions Data reflects all transactions greater than $25 mm Enterprise Value to EBITDA Transaction Multiples By Size Q1 2009 <$100 mm $100-$250 mm $250-$750mm >$750 mm 5.4x 6.3x 7.2x 7.0x Q2 2009 6.4x 6.8x 7.5x 6.7x Q3 2009 6.4x 6.9x 6.9x 8.4x Q4 2009 6.3x 6.9x 8.6x 8.4x Q1 2010 6.5x 7.1x 10.4x 9.3x Source: Capital IQ Notes: Includes all majority stake acquisitions with publically disclosed EBITDA multiples (excluding outliers less than 2.0x and greater than 15.0x) Excludes deals in the healthcare, technology, and financial services sectors Enterprise Value = Value of equity plus debt minus cash EBITDA = Earnings before interest, taxes, depreciation and amortization 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 2011 digit al aft ermarket fa c tb o o k cop y righ t © 2010 aut omot ive aft ermarket indust ry asso c ia tio n 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 1 25 http://www.bbtcapitalmarkets.com

Table of Contents for the Digital Edition of AAIA Factbook 2011

AAIA Factbook 2011
Table of Contents
Economic Indicators
Key Economic Indicators
Aftermarket Employment
Technician Employment and Wages
U.S. Motor Vehicle Aftermarket
Introduction to the Channel Forecast Model
2010 to 2012 Forecast Assumptions
U.S. Motor Vehicle Aftermarket
Aftermarket Sales History and Forecast 2002 to 2012
Aftermarket Sales by Distribution Channel
Automotive Aftermarket Segmentation
Aftermarket Service and Retail Channels
Aftermarket Service and Retail Outlet Analysis
Program Distribution Summary
Financial Indicators
Financial Profiles of Selected Aftermarket Companies
Aftermarket Mergers and Acquisitions
Automotive Aftermarket
Consumer Profile
Sales of Replacement Tires
Replacement Rates for Motor Vehicle Parts and Jobs
Accessories
Aftermarket Accessories
Chemicals and Fluids
Automotive Chemicals and Fluids
Aftermarket Segments
Medium and Heavy Duty Truck Aftermarket
Tool and Equipment Aftermarket
Paint, Body and Equipment Aftermarket
Bodyshop Business Industry Profile
Vehicle Sales, Usage and Registrations
U.S. Motor Vehicle Sales
Top 10 Light Vehicle Sales
U.S. Motor Vehicle Population
Hybrid Vehicles
Vehicle Operating Costs
Gasoline Affordability and Vehicle Miles Traveled
State Summary Statistics
Global Aftermarket
Global Economic and Automotive Data
Global Vehicle Registrations
Canadian Aftermarket
Mexican Aftermarket
Chinese Aftermarket
Glossary and Reference
Glossary of Aftermarket Terms
NAICS Definitions
Aftermarket Data Resources
AAIA Market Research
AAIA – Lang Market Comparison
Harmonization of Aftermarket Industry Data
The Lang Aftermarket Annual 2011

AAIA Factbook 2011