Government Services Oligopoly at 3x 2024 EBITDA, 5x FCF
This was epic. Thank you so much.
Have you looked into Duratec (AU)? Was pitched by Sohra Peak - similar multiple, smaller scale, more growth oriented than turnaround story
What thesis risks are you most concerned about?
just general execution, these projects are highly complex. I'd also be frustrated if mgmt doesn't begin to buy back stock once their ongoing claims for cost reimbursements have been settled.
Agreed. Have you talked to mgt about repurchases?
Should ramp once the 3 ongoing negotiations are settled for shared cost provisions. Gordie Howe was settled in Q4/23.
This was epic. Thank you so much.
Have you looked into Duratec (AU)? Was pitched by Sohra Peak - similar multiple, smaller scale, more growth oriented than turnaround story
What thesis risks are you most concerned about?
just general execution, these projects are highly complex. I'd also be frustrated if mgmt doesn't begin to buy back stock once their ongoing claims for cost reimbursements have been settled.
Agreed. Have you talked to mgt about repurchases?
Should ramp once the 3 ongoing negotiations are settled for shared cost provisions. Gordie Howe was settled in Q4/23.