GREY:WONEF - Post by User
Post by
knicksmanon Mar 06, 2017 4:43pm
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Post# 25939925
WEQ sale of Britco Rental
WEQ sale of Britco RentalBDI just announced the acquisition of WEQ's Britco Rental assets for $41 million. I believe the Britco rental business was generating EBITDA of between $4 and $5 million. So transaction looks like a cool 8x EV/EBITDA. The proceeds significantly delevers WEQ's balance sheet. We should see the convertibles trade up nicely (I would think above 95) and the equity shoot up too. Nice to see the company make the right value accretive decision.