1、Mobility, Supply Chain, and Logistics TechnologyMARKET UPDATE | WINTER 20222Representative Industry Subsectors CoveredMobility, Supply Chain, and Logistics Technology Market UpdateDealership Technology and SoftwareAftermarket Repair/ Parts Data and MarketplacesFleet ManagementLogistics and Supply Ch

2、ain TechnologyMobility and Public Transportation PlanningDigital Freight Matching PlatformsTelematics and Connected CarMaritime Fleet Operations and Fleet ManagementDear Clients and Friends,Houlihan Lokey is pleased to present the Winter 2022 edition of its Mobility, Supply Chain, and Logistics Tech

3、nology Market Update. We have continued adapting to a recovering market and remain active in advising our clients as they mitigate M&A, financing, and other strategic initiatives. We have included industry insights, select recent transaction announcements, and a public markets overview to help you s

4、tay ahead in our dynamic and constantly evolving industry.Market Activity:M&A and financing activity across the sector demonstrated incredible resiliency throughout Q3 2021 despite COVID-19 and macro headwinds.(1) $98.9 billion of financing activity through Q3 2021 was 93% higher than the same perio

5、d in 2020 $84.4 billion in Q3 2021 M&A, putting the industry on track for a record level of M&A activity over the past 10 yearsHoulihan Lokey believes that M&A and financing activity across the mobility, supply chain, and logistics technology industry will continue unabated throughout 2022, as techn

6、ology adoption has accelerated and is anticipated to continue through the COVID-19 recovery and beyond.Regards,Sources: PitchB, S&P Capital IQ.(1) Market data only available through Q3 2021. Shane KaiserDirectorSKaiserHL.comO: 646.259.7471M: 203.273.0213Additional Team ContactsAndrew AdamsGroup Head

7、ADAdamsHL.comTara Anand CarterManaging DirectorTCarterHL.comCraig MuirManaging DirectorCMuirHL.comKris HopkinsManaging DirectorKHopkinsHL.comJoe WatsonSenior Vice PresidentJWatsonHL.comTim MacholzSenior Vice PresidentTMacholzHL.comGlen KrugerManaging DirectorGlen.KrugerHL.comHugues ArchambaultManagi

8、ng DirectorHugues.ArchambaultHL.comRaiko SteltenManaging DirectorRaiko.SteltenHL.comIdo ZakaiManaging DirectorIdo.ZakaiHL.comCory Hebenstreit DirectorCHebenstreitHL.comSteve HughesManaging DirectorSHughesHL.comSources: Refinitiv, Mergermarket.(1) By market cap.Following the successful completion of

9、the GCA acquisition, the combined firm is the No. 1 most active global M&A advisor, the most active technology M&A advisor in the world with 225 professionals, and the No. 1 most active advisor to private equity.The Global No. 1 Middle-Market M&A Advisor(1)Based on 2021 announced transaction volume,

10、 the combination of Houlihan Lokey and GCA will create the No. 1 Global TechnologyM&A Advisor, further its leadership in U.S. M&A, and make it a leading advisor across global, European, and Asian M&A.LEADING POSITIONS ACROSS SECTORS AND GEOGRAPHIESMarket Capitalization$7.3BAnnual Revenues$1.9BEmploy

11、ees2,200Corporate Finance Employees815+Locations38 locations across 18 countriesDescriptionGlobal investment bank providing Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory services with a leading position in the industrials and technology sectorsEXTENDED GLOBAL REACH

12、 WITH MORE THAN 815 CORPORATE FINANCE BANKERS ACROSS ALL MAJOR MARKETSNorth AmericaEurope and Middle EastAsia-PacificApprox. 475 Corporate Finance BankersApprox. 340 Corporate Finance BankersApprox. 200 Corporate Finance BankersHL or Common LocationsHL or Common LocationsHL or Common LocationGCA Loc

13、ationsGCA Locations3Houlihan Lokey + GCA | The Preeminent Global Middle-Market M&A Advisor#1#2Global Tech M&AEurope M&AAtlanta, GABoston, MAChicago, ILDallas, TXHouston, TXLos Angeles, CAMiami, FLMinneapolis, MNNew York, NYSan Francisco, CAWashington, D.C.Amsterdam, NLDubai, UAEFrankfurt, DELondon,

14、UKMadrid, ESMilan, ITParis, FRBirmingham, UKLausanne, CHManchester, UKMunich, DEStockholm, SETel-Aviv, IL Zurich, CHBeijing, CNHong Kong SARSingaporeSydney, AUTokyo, JPFukuoka, JPHo Chi Minh City, VNKyoto, JPMumbai, INNagoya, JPNew Delhi, INOsaka, JPShanghai, CN#1U.S. M&A2021 M&A Advisory Rankings A

15、ll U.S. TransactionsAdvisorDeals1Houlihan Lokey3012Goldman Sachs & Co2853JP Morgan2824Jefferies LLC1995Morgan Stanley185Source: Refinitiv.#1Global M&A2021 Investment Banking Rankings All Global TransactionsAdvisorDeals1Houlihan Lokey5492Goldman Sachs & Co5113JP Morgan5084Rothschild & Co4375Morgan St

16、anley393Source: Refinitiv. Excludes accounting firms and brokers.2021 Investment Banking Rankings All Europe TransactionsAdvisorDeals1Rothschild & Co2852Houlihan Lokey1833JP Morgan1414Clearwater International1385Goldman Sachs & Co135Source: Refinitiv. Excludes accounting firms and brokers.4How Houli

17、han Lokey Can HelpOur firm is extremely well equipped to help our clients navigate uncertain times. We respond quickly to challenging situations and are constantly helping clients to analyze, structure, negotiate, and execute the best possible solutions from both strategic and financial perspectives

18、.Superior Work Product/ Technical AbilitiesCreativity, Imagination, Tenacity, and PositivityDeep, Industry-Specific ExpertiseSenior-Level Commitment and DedicationPortfolio Valuation and Fund AdvisorySignificant Experience With Financing MarketsDominant in Special Situations and RestructuringCorpora

19、te FinanceTransaction OpinionsCorporate Valuation Advisory ServicesTransaction Advisory ServicesReal Estate Valuation and Advisory Dispute Resolution ConsultingMergers and AcquisitionsCapital MarketsPrivate Funds AdvisoryBoard Advisory ServicesWe are widely recognized as a leading M&A advisor to the

20、 mid-cap and have long-standing relationships with capital providers, including commercial banks and other senior credit providers, insurance funds, asset managers, and mezzanine fund investors. Few other investment banks maintain the breadth of relationships and capital markets intelligence that we

21、 do.Company AdvisoryCreditor AdvisoryWe have the largest restructuring practice of any global investment bank. Since 1988, we have advised on more than 1,500 restructuring transactions (with aggregate debt claims in excess of $3.0 trillion). We served as an advisor in 12 of the 15 largest bankruptci

22、es from 2000 to 2021.Special SituationsDistressed M&ALiability ManagementOver nearly four decades, we have established ourselves as one of the largest financial and valuation advisory firms. Our transaction expertise and leadership in the field of valuation help inspire confidence in the financial e

23、xecutives, boards of directors, special committees, investors, and business owners we serve.1What We OfferFinancial Restructuring2Financial and Valuation Advisory3Why We Are Different Best-in-Class Global Data and Analytics FranchiseAcross the data and analytics horizontal, we focus on nine primary

24、verticals and have developed entrenched relationships with the most prominent strategics and financial sponsors.Mobility, Supply Chain, and LogisticsFintechFinancial Information, Data and AnalyticsGovernance, Risk, andCompliance Natural ResourcesReal Estate, Retail, and Facilities B2B Information Se

25、rvicesResearch, IP, and LegalEducation and TrainingExpertise and CapabilitiesRepresentative RelationshipsRegtech, risk, and complianceFraud, AML, KYC, and sanctionsEnterprise and operational riskEHS&SESGCSRCertificationFinancial data and analyticsInsurance data and analytics Regtech, risk, and compl

26、ianceBuyside and sellside data and analyticsWealth and alternatives data and analyticsDealership technology and softwareFleet management and transportation logisticsTelematics and mobility risk managementMobility and transportation planningAftermarket parts and services marketplacesBusiness data and

27、 analyticsPrivate company data and analyticsMacroeconomic research and forecastingMarketing data, analytics, and softwareB2B media and eventsPharma and healthcareEducation technologyK12Post-secondaryProfessional and continuing educationLMSCMSWorkforceMortgage data, analytics, and softwareCommercial

28、and residential data and analyticsConstruction and facilitiesRetail analyticsOil and gasPower, renewables, and waterAgriculture and foodWeatherE-discoveryLitigation technologyIP management/ researchDocument managementContract managementCompliance softwareInformation governanceAsset and wealth manage

29、mentBanking and lendingCapital markets softwareExchanges and executionInsurancePayments5Note: Categories are populated with illustrative companies and are not exhaustive.Select Houlihan Lokey Deal Case StudiesExceptional momentum in 2021 highlights Houlihan Lokeys deep sector knowledge supported by

30、transaction execution experience.6TransactionDeal Date Closed December 2021Closed December 2021Closed November 2021Target DescriptionJayhawk is a provider of a data-driven vehicle delivery platform focused on vehicle relocation and on-demand delivery, moving high volumes of vehicles across the U.S.

31、and Mexico. The companys solutions include remote vehicle inspections, documentation, remote test drives, and delivery and pickup. Impact is at the center of the parts procurement ecosystem, focused on creating a marketplace for OEMs, dealerships, repair shops, and non-OEM parts suppliers. Impact co

32、llects, analyzes, and leverages data to deliver a catalog of auto parts and provide real-time information to support its customers.Asset Intelligence comprises Equipment Watch, Price Digests, and FleetSeek. These brands provide proprietary pricing data, information, and insights to businesses making

33、 decisions and investments in heavy construction equipment, commercial vehicles, and other infrastructure assets. Target GeographyHoulihan Lokey RoleSellside AdvisorSellside AdvisorSellside Advisorowned byhas been acquired bySellside AdvisorProject ImpactHas been acquired byUndisclosed BuyerProject

34、Jayhawkhas been acquired byUndisclosed BuyerTransactionDeal Date Closed September 2021Closed September 2021Closed June 2021Target DescriptionClipperData provides unique data offerings for the global commodity markets with specialties in petroleum liquids coverage, particularly in the United States.

35、Its proprietary data is used by hundreds of industry professionals, including leading oil and gas companies, traders, utilities, and financial institutions. SambaSafety is the leading North American provider of cloud-based mobility risk management software solutions for organizations with commercial

36、 and noncommercial drivers. SambaSafety helps employers identify high-risk drivers and enforce safety policies, helps insurers to make informed decisions, and helpsbackground screeners to perform checks.eDriving, a portfolio company of CIP Capital, is the market-leading SaaS provider of driver risk

37、management and remediation solutions, helping organizations around the world improve safety and reduce injuries, license violations, carbon emissions, and total cost of fleet ownership through its patented digital driver risk management programs. Target GeographyHoulihan Lokey RoleSellside AdvisorSe

38、llside AdvisorSellside Advisora portfolio company of has been acquired bySellside Advisora portfolio company of has been acquired bySellside Advisorhas been acquired bySellside AdvisorMapping the Houlihan Lokey Mobility, Supply Chain, and Logistics Technology LandscapeConverging Business ModelsTech-

39、Enabled Services Information Services Data and Analytics Transactional Subscription SaaS Note: Categories are populated with illustrative companies and are not exhaustive.Digital Freight Matching PlatformsWe have robust subsector coverage with transaction execution experience across emerging and dis

40、ruptive technology categories within the ecosystem.7Maritime Fleet Operations and Fleet ManagementLogistics and Supply Chain TechnologyMobility and Public Transportation PlanningDealership Technology and SoftwareMobility, Telematics and Connected CarTelematics and Connected CarAftermarket Repair/Par

41、ts Data and MarketplacesFleet ManagementRepresentative Transactions and InvestmentsMarket ConsolidationVerticalization: Expand end-market applicability by acquiring assets with deep vertical expertise.Accelerate Scale: Combining product portfolios and core solutions is an efficient way for incumbent

42、s toscale quickly and reach new market segments.Product and GeographicExpansionAdd Complementary Offerings: Strengthen the existing product suite through the addition of inorganic add-ons.Add New Offerings: For some companies, it is easier to acquire technology rather than develop it internally.Empl

43、oying Data and Analytics to Drive Enhanced CapabilitiesBusiness Intelligence: Gain specialized expertise in analytics, telematics, and predictive modeling.Additional Data: Integrate incremental datasets to enhance existing data layers, or create new ones to drive diversification of capabilities.Digi

44、tal Channels Replacing Physical ChannelsModernization: Category constituents that have operated their businesses on paper and legacy filing systems are investing in more advanced technology platforms.Talent Acquisition: New software development capabilities accompany the acquisition of technology st

45、artups.Key Drivers of M&A Activity Across the Landscape8Fundraising activity remained robust throughout the quarter, both for high-profile, later-stage companies as well as earlier-stage startups. Recent financing activity has remained relatively distributed across key subsectors, with volumes and a

46、verage deal size continuing to increase.Ann. DateCompanySelected Investor(s)Amount Invested Post-Money ValuationSegment/ Value Chain02/22$200.0$1,300.001/22$335.0$2,000.012/21$400.0$3,300.012/21IPO$805.0$11,510.011/21$550.0N/A11/21$600.0$8,600.010/21$250.0$3,500.009/21$15.0N/A09/21$90.0$1,130.009/21

47、$258.6$1,840.0Selected Mobility, Supply Chain, and Logistics Technology Financings ($M)Data and Analytics Quarterly Financing Activity ($M)9Financing Activity Continues Across Value Chain CategoriesMobility, Supply Chain, and Logistics Technology SubsectorsSources: PitchB, S&P Capital IQ. Market dat

48、a as of February 3, 2022.Note: Includes early-stage and later-stage venture investments from funds and strategics.(1)Average deal sizes exclude outlier transactions.Dealership Technology and SoftwareAftermarket Repair/Parts Data and MarketplacesFleet ManagementLogistics and Supply Chain TechnologyDi

49、gital Freight Matching PlatformsMaritime Fleet Operations and Fleet ManagementTelematics and Connected CarMobility and Public Transportation PlanningLTM financing volume: $11.5B across 165 dealsAverage Deal Size ($M)(1)3562246379377772$883$1,384$1,599$1,721$1,687$1,389$1,963$2,298$2,760$3

50、,230$3,098$2,385Q12019Q22019Q32019Q42019Q12020Q22020Q32020Q42020Q12021Q22021Q32021Q420250624441514033Ann. DateAcquirerTargetTransaction Value ($M)Segment/ Value Chain02/22N/A12/21UndisclosedProject JayhawkN/A12/21N/A12/21UndisclosedProject ImpactN/A11/21$356.011/21$5,087.99/21N/A9/21$175.