Benchmark Report

JUNE 8, 2022

Notus is an engineering consultancy specialising in the delivery of heavy lift and transport consultancy services, lifting assurance, and the planning and execution of lifting operations. Services are delivered across the energy, rail, defence, and construction sectors throughout the UK and Europe.

Mergers & Acquisitions 98

Mergers & Acquisitions 98

Equidam

MARCH 25, 2024

Highways & Rail Tracks 4.33 Oil & Gas Transportation Services 2.44 Passenger Transportation, Ground & Sea 1.75 UK Investment Trusts 4.66 Highways & Rail Tracks 4.33 Oil & Gas Transportation Services 2.44 Passenger Transportation, Ground & Sea 1.75 UK Investment Trusts 4.66

EBITDA 57

EBITDA Banking Start-ups Business Valuation 57

Equidam

FEBRUARY 16, 2024

14.65 ↓ -12.64% Heavy Machinery & Vehicles 14 15.46 ↑ 10.43% Highways & Rail Tracks 14.39 7.31 ↓ -37.52% Oil & Gas Transportation Services 11.7 7.06 ↑ 16.89% Passenger Transportation, Ground & Sea 7.89 9.99 ↓ -18.58% UK Investment Trusts 12.51 7.31 ↓ -37.52% Oil & Gas Transportation Services 11.7

EBITDA 57

EBITDA Terminal Value Banking Marketability 57

Equidam

NOVEMBER 22, 2021

Highways & Rail Tracks. Oil & Gas Transportation Services. Passenger Transportation, Ground & Sea. UK Investment Trusts. Ground Freight & Logistics. Healthcare Facilities & Services. Heavy Electrical Equipment. Heavy Machinery & Vehicles. Home Furnishings. Home Furnishings Retailers. Homebuilding.

EBITDA 52

EBITDA Banking Marketability Technology 52

Equidam

FEBRUARY 8, 2023

14.00 ↓ -18% Highways & Rail Tracks 17.09 11.70 ↑ 27% Oil & Gas Transportation Services 9.22 6.04 ↓ -45% Passenger Transportation, Ground & Sea 13.20 12.27 ↓ -40% UK Investment Trusts 18.31 14.00 ↓ -18% Highways & Rail Tracks 17.09 11.70 ↑ 27% Oil & Gas Transportation Services 9.22

EBITDA 40

EBITDA Terminal Value Banking Marketability 40

The Guardian M&A

JUNE 9, 2022

The bus and rail company said it had carefully reviewed the proposal from I Squared Capital, which first became public last month , but concluded that the 118p a share cash offer “significantly undervalues FirstGroup’s continuing operations and its future prospects”.

Equity 77

Equity Private Equity Firm 77

Equidam

NOVEMBER 22, 2021

Highways & Rail Tracks. Oil & Gas Transportation Services. Passenger Transportation, Ground & Sea. UK Investment Trusts. Healthcare Facilities & Services. Heavy Electrical Equipment. Heavy Machinery & Vehicles. Home Furnishings. Home Furnishings Retailers. Oil & Gas Drilling. Online Services **.

EBITDA 52

EBITDA Banking Marketability Terminal Value 52