@JibbyCap Great write up. the acquisitions are actually quite a bit better than you presented. Fuel proof also contains Roll-tec safety which is the rental side of Fuel proof.
Fluid transfer group contains both Fluid transfer international and Flofuel support.
@Aksel465 yes agree. But clearly someone with a lot of shares wants out. So the question of course is do he know something or is he just selling for non fundamental reasons.
@Aksel465 I find it a bit weird. I thought it might have been a seller from the convertible bond. but he has properly sold 500k+ shares with at least 200k more to go. So that's 10%+- of shares outstanding.
@DV_Situations Why do you think that? Personally given the choice between a passive low cost global stock fund and an active fund manager I would choose the passive fund 99% of the time. (This is more being bearish the average fund manager than being bullish passive)
@ChrisMittleman I had similar values in mind. Was just thinking that with
20% ebitda margin for Bozzetto you might get to 10x ebitda. Anyway at sub 3 Cad/share and with a clear mandate to close the discount I think the risk/reward looks very attractive.
@CapitalShipyard Did you found out the reason behind the continues dump?
Starting to look really interesting. unless of course someone knows something.
@finphysnerd based on the financials I concluded their stake in FRA is through Patriot new topco. (I could be wrong). Their financials are not exactly pretty.
https://t.co/3iKUqiVy2J
@DV_Situations Thanks for flagging this.
The risk/reward at just over 9 zar looks extremely compelling. Hard to believe that McConnell Dowell would trade below 10 zar in Australia.
What do you think fair value of Aveng is today?