M&A · Industrials · Services-Mailing, Reproduction, Commercial Art & Photography
Kumarakulasingam Suriyakumar to acquire ARC Document Solutions, Inc.
Announced Aug 28, 2024 · Closed Nov 22, 2024
Deal value$147MEV $157M
Premium28.8%To unaffected price
EV / Adj. EBITDA4.9x0.5x EV / Revenue
ConsiderationAll cash$3.40 per share
Transaction
- Acquirer
- Kumarakulasingam Suriyakumar
- Target
- ARC Document Solutions, Inc. (ARC)
- Buyer type
- Strategic
- Offer price per share
- $3.40
- Enterprise value
- $157M
- Status
- Closed Nov 22, 2024
Deal protections
- Break fee (target pays)
- $5.3M · 3.6%
- Reverse fee (buyer pays)
- $1.5M · 1.0%
- Go-shop
- Go-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- William Blair
- William Blair fee
- $3.9M
Sector context · Industrials
- Comparable deals
- 85 in the prior 24 months
- Premium
- 28.8% vs. 34.0% sector median
- EV / Adj. EBITDA
- 4.9x vs. 10.5x sector median
- Break fee
- 3.6% vs. 2.7% sector median
Timeline
- AnnouncedAug 28, 2024
- Proxy filedSep 11, 2024
- Definitive proxyOct 16, 2024
- Shareholder voteNov 21, 2024
- ClosedNov 22, 2024
Valuation · fairness opinions
Discounted cash flow$2.47$3.41
Leveraged buyout$2.34$3.14
Leveraged buyout$2.43$3.57
Offer $3.40
Implied value per ARC Document Solutions, Inc. share by analysis, from William Blair · DCF discount rate 9.5%–11.5%.