Company: RMIX
Filing Date: 2025-11-12
Form Type: S-4
Source: 0001104659-25-110488
Chunk: 265

Company: Suncrete, Inc.
Filing Date: 2025-11-12
Form: S-4
Chunk 265
---
     | ​ | ​ |
| Martin Marrietta Materials, Inc. | ​ | ​ | ​                 | ​ | 16.8x | ​ | ​ | ​ | ​                 | ​ | 23.5x | ​ | ​ |
| Vulcan Materials Company         | ​ | ​ | ​                 | ​ | 16.8x | ​ | ​ | ​ | ​                 | ​ | 23.4x | ​ | ​ |
| CRH public limited company       | ​ | ​ | ​                 | ​ | 11.9x | ​ | ​ | ​ | ​                 | ​ | 18.8x | ​ | ​ |
| Eagle Materials Inc.             | ​ | ​ | ​                 | ​ | 10.5x | ​ | ​ | ​ | ​                 | ​ | 25.2x | ​ | ​ |
| Knife River Corporation          | ​ | ​ | ​                 | ​ | 9.7x  | ​ | ​ | ​ | ​                 | ​ | 15.1x | ​ | ​ |
| Median                           | ​ | ​ | ​                 | ​ | 11.9x | ​ | ​ | ​ | ​                 | ​ | 23.4x | ​ | ​ |

(1) Free cash flow is calculated as EBITDA minus CapEx. The Haymaker Board compared (a) the estimated total enterprise value of Suncrete, based on the value implied by the terms of the Business Combination Agreement, divided by estimated 2026 Adjusted EBITDA and estimated 2026 free cash flow for Suncrete with (b) with the median total enterprise value implied by the selected public companies’ trading values divided by their estimated 2026 EBITDA and estimated 2026 free cash flow. This comparison illustrated an estimated enterprise value divided by estimated 2026 Adjusted EBITDA of 7.5x and an estimated enterprise value divided by estimated 2026 free cash flow of 8.7x with respect to Suncrete, a median enterprise value divided by estimated 2026 EBITDA of 20.9x and a median enterprise value divided by estimated 2026 free cash flow of 25.2x with respect to the Industry Consolidator companies and a median enterprise value divided by estimated 2026 EBITDA of 11.9x and a median enterprise value divided by estimated 2026 free cash flow of 23.4x with respect to the