RE:RE:RE:RE:RE:RE:RE:RE:What is ironic Yes, they got their head around paying the big price tag by looking at a couple of charts showing growth. Don't worry that it is only producing $4M EBITDA today... look at this pretty chart that shows a big arrow with a big CAGR!
(And Align Capital was thinking as they looked at Paul and John looking at those charts produced by an investment bank that was slobbering over an $8M fee for making the presentation... pretty pretty please don't ask how much free cash flow is produced. Don't ask how much money needs to be reinvested in the business and that there is no distributable cash left over to shareholders.... please don't ask about free cash flow)
The reality is if they tried to unload ETC today, if it is producing $4M EBITDA and multiples have contracted to 8-10X, you end up with $30-40M.