steve fleming
13-12-2011, 08:40 PM
STP misses the sub $20mil micro cap list, but IMO, represents excellent buying at current prices $1.38 and deserves its own thread (thanks to Buns for the heads up on this).
M/c of $27m, EV of $49m. FY11 EBITDA of $11.1m, therefore trailing EV/EBITDA of 4.5x
Provides total waste management services to the healthcare sector – hospitals, clinics, surgeries.
The following is courtesy of a recent merger market report on STP ->
"Its total waste management offering includes collection and disposal of all customer waste streams, including general waste, paper and cardboard as well as security documents. Last month Sterihealth acquired bolt-on KDL Products, a domestic provider of medical waste containers. This followed its bolt-on acquisition of BioCorp, a domestic manufacturer of syringe-disposal units.
It is seeking further acquisitions within its footprint to expand its product and service offering, CFO Cameron Grant said. It would consider domestic bolt-ons as well as transformational targets, potentially using a stake sale to fund the latter. Acquisitions of “AUD 5m-plus” would be financed with debt. In July this year it increased its lending facility with Bankwest by AUD 6.5m to AUD 35m, and it is able to increase that facility further.
Sterihealth posted a net profit of AUD 3.8m for FY11. It had revenues of AUD 49.5m for FY11, up from AUD 43.8m in 2010, a growth of 5.7%. It had cash of AUD 3m on June 30 this year.
Sterihealth looked at a couple of transformational targets during this calendar year, but did not go through with it. Peers include SITA and Veolia as well as some smaller private regional medical waste players, including Ace Waste, and Redlam.
Founder and MD Dan Daniels owns 47% of Sterihealth, followed by a high net-worth investor with a 10% stake. The top-20 shareholders have more than 78% of the stock."
M/c of $27m, EV of $49m. FY11 EBITDA of $11.1m, therefore trailing EV/EBITDA of 4.5x
Provides total waste management services to the healthcare sector – hospitals, clinics, surgeries.
The following is courtesy of a recent merger market report on STP ->
"Its total waste management offering includes collection and disposal of all customer waste streams, including general waste, paper and cardboard as well as security documents. Last month Sterihealth acquired bolt-on KDL Products, a domestic provider of medical waste containers. This followed its bolt-on acquisition of BioCorp, a domestic manufacturer of syringe-disposal units.
It is seeking further acquisitions within its footprint to expand its product and service offering, CFO Cameron Grant said. It would consider domestic bolt-ons as well as transformational targets, potentially using a stake sale to fund the latter. Acquisitions of “AUD 5m-plus” would be financed with debt. In July this year it increased its lending facility with Bankwest by AUD 6.5m to AUD 35m, and it is able to increase that facility further.
Sterihealth posted a net profit of AUD 3.8m for FY11. It had revenues of AUD 49.5m for FY11, up from AUD 43.8m in 2010, a growth of 5.7%. It had cash of AUD 3m on June 30 this year.
Sterihealth looked at a couple of transformational targets during this calendar year, but did not go through with it. Peers include SITA and Veolia as well as some smaller private regional medical waste players, including Ace Waste, and Redlam.
Founder and MD Dan Daniels owns 47% of Sterihealth, followed by a high net-worth investor with a 10% stake. The top-20 shareholders have more than 78% of the stock."