Precedent Transactions

Demo #7 — historical M&A deal multiples for Sava Industrial: transaction EV/Revenue and EV/EBITDA, control premium to unaffected price, implied offer range, and triangulation vs trading comps and DCF references.

Training scope

Fictional industrial M&A deals and LTM FY2023A metrics only. No live deal database, fairness opinion, or synergy modeling. Unaffected share price aligns with Demo #6 trading comps narrative — educational use only.

Subject company — Sava Industrial

Sava Industrial Co.Ltd · LTM · 31-Dec-2023 · USD ($M)

Revenue

480.0

EBITDA

110.4

Net debt

55.0

Unaffected price ($/sh)

20.50

Precedent transaction set

Static inputs aligned with the Excel precedent-transactions workbook (global + VN/ASEAN fictional deals).

Target	EV/Rev	EV/EBITDA	Premium
ForgeTech Industries Inc.	3.6×	17.8×	27.0%
Continental Alloy Works Corp.	3.5×	15.4×	25.0%
Pacific Precision Machining Ltd.	2.6×	12.9×	30.7%
Northern Steel Components PLC	3.6×	16.4×	25.1%
EuroCast Manufacturing AG	3.7×	16.7×	28.9%
Summit Industrial Equipment Co.	3.6×	15.8×	24.7%
Delta Fabrication Corp.	2.5×	12.4×	30.6%
Horizon Metal Products Inc.	3.5×	15.8×	29.0%
Dong Nai Steel Fabrication JSC	2.1×	10.6×	30.0%
Hai Phong Heavy Equipment Co.	2.3×	11.1×	28.7%
Malacca Industrial Components Sdn Bhd	2.1×	10.4×	30.0%
Selected multiple (Median)	3.5×	15.4×	28.9%

Implied valuation — multiples path

Apply selected transaction multiples to Sava LTM metrics; bridge EV ↔ equity via net debt.

Method	Multiple	Implied EV	Implied equity
EV / Revenue	3.5×	1,694.1	1,639.1
EV / EBITDA	15.4×	1,698.5	1,643.5
Average (2 methods)		1,696.3	1,641.3

Implied offer price (avg equity ÷ shares): 41.03

Control premium path

Median / P25 / P75 premiums from precedent deals applied to Sava unaffected share price (Demo #6 reference).

Scenario	Premium	Offer price ($/sh)
Mid — Median Premium	28.9%	26.43
Low — P25 Premium	26.1%	25.84
High — P75 Premium	30.0%	26.65

Trading comps mid EV ref (Demo #6)

1,050.0

Precedent avg EV − comps ref

+646.3

Transaction multiples often exceed trading comps because buyers pay for control; the premium method isolates that uplift vs the unaffected minority reference.

Implied EV range (P25 — selected — P75)

Average of EV/Revenue and EV/EBITDA implied EV at each percentile band (Excel implied valuation sheet).

Scenario	EV/Rev	EV/EBITDA	Implied EV	Implied equity
Low (P25)	2.4×	11.7×	1,226.0	1,171.0
Mid (Selected)	3.5×	15.4×	1,696.3	1,641.3
High (P75)	3.6×	16.1×	1,747.1	1,692.1

DCF EV reference (Demo #2)

920.0

Precedent avg EV − DCF EV

+776.3

Premium mid EV − multiples avg EV

-584.3