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Aimia Inc T.AIM.PR.A


Primary Symbol: T.AIM Alternate Symbol(s):  AIMFF | T.AIM.PR.C | T.AIM.PR.D

Aimia Inc. is a diversified company. The Company operates through three segments: Bozzetto, Cortland International and Holdings. The Bozzetto segment is a provider of specialty sustainable chemicals, offering sustainable textile, water and dispersion chemical solutions with applications in several end-markets including the textile, home and personal care, plasterboard and agrochemical markets. The Cortland International segment consists of Tufropes and Cortland Industrial LLC (Cortland). Tufropes is a manufacturer of synthetic fiber ropes and netting solutions for maritime and other different industrial customers. Cortland is a designer, manufacturer, and supplier of technology advanced synthetic ropes, slings, and tethers to the aerospace & defense, marine, renewables, and other diversified industrial end markets. The Holdings segment includes investments in Clear Media Limited, Kognitiv, as well as minority investments in various public company securities and limited partnerships.


TSX:AIM - Post by User

Post by DaneOddmentson Jun 21, 2024 1:50am
185 Views
Post# 36099362

gauging competence and integrity

gauging competence and integrity Tom Finke claims that he and the other appointees of the Jefferies/MassMutual private placement group are more experienced, but I can't see any track record of success in investing there.  I see a series of relatively brief stints at various investment firms, but no track record.  The only thing I can find in that regard is that he was Chairman and CEO of Adara Acquistion Corp, a SPAC now known as Alliance Entertainment (AENT $3.41), down 66% from IPO price of $10 in Feb,. 2021 because they over-paid for a dying distributor of DVDs they bought for $480M near the height of the SPAC insanity.  https://www.bizjournals.com/charlotte/news/2022/06/23/adara-alliance-entertainment-spac-480m-merger.html   They claimed to be paying 6.3x TTM EBITDA of $76M (EV paid was $480M), but EBITDA immediately plummeted to a negative number in FY 2023, and looks like it will be $30M in FY 2024.  So while everyone makes mistakes, and Mithaq's debacle with Children's Place (PLCE) is looking alot like Eddie Lampert with Sears or Ackman with JC Penny, at least Mithaq had a couple of huge wins with the airport logisitics company John Menzies (MENZ LN) which they made 6x and Burford (BUR) which they tripled, and while they're down on Nexxen (NEXN) from their cost, it's a net cash balance sheet, seems to be growing, and trading at like 4x EBITDA and 5x FCF, which looks within the realm of reasonableness.  So on competence, I am no where near accepting that Finke & Co. are the better alternative.  And on integrity...  well...
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