Hi All,

I have become increasingly drawn towards investments in buying a fully managed business in NZ.

There are many solid performing fully managed businesses out there with great cash flows that are selling at 3-5xNPAT.

I have looked at the books for a few medium sized fully managed liquor stores, distribution businesses and wholesalers and all seem to have solid fundamentals and consistent earnings over 3-5 years.

I am certain there are people on this website familiar with this and any wisdom on what to look out for would be greatly appreciated.

Cheers.