ABOUT ARCPAC ArcPac is a leading Australian residential building...

ABOUT ARCPAC
ArcPac is a leading Australian residential building products business that operates in two markets, garage doors (under the Steel-Line brand) and Louvre windows (under the Breezway brand).
Key highlights include:

• Leading player with established business

o Largest Louvre provider with Breezway market share of 82%
o Second largest garage door provider. Steel-Line total market share has grown from 21% in 2007 to 31% today

• Improvement in housing market

o Growing housing deficiency translates to strong future construction activity
o Supportive RBA policy

• Significant barriers to entry

o 23 branch garage door distribution network
o 4 Louvre window service centres (Australia wide)
o Louvre manufacturing & distribution facilities in Malaysia & Hawaii

• Invested in growth

o EBITDA margins of 13.5% in FY2014 and 15.9% forecast in FY2015
o Capacity to take advantage of expected growth opportunities
o Utilising IP to enter and grow the premium Louvre market in other countries similar to Australia

KEY OFFER DETAILS

	Column 1	Column 2
0	IPO size	$115.4 million – $135.3 million
1	Offer Price Range	$2.15 - $2.55 per Share
2	Implied market cap	$150.5m - $178.5m
3	Valuation	EV/EBITDA (FY15): 7.6x – 8.8x P/E (FY15 NPATA): 10.6x – 12.6x Div Yield*: Estimated FY15: 6.6% – 5.6% * Annualised dividend yield based on 70% of FY15 NPATA

KEY DATES

• Floats opens – 10:00am (Sydney time), Tuesday, 9 September 2014
• Floats closes – 11.00am (Sydney time),Tuesday, 16 September 2014
• Institutional Bookbuild – Wednesday 17 – Thursday 18, September 2014
• Prospectus lodgement – Friday, 19 September 2014
• Forms/monies due at Ord Minnett – 5.00pm (Sydney time), Tuesday, 7 October 2014
• Commencement of trading (deferred settlement) – Monday, 13 October 2014
• Commencement of trading (normal basis) – Wednesday, 15 October 2014