RE:RE:RE:RE:RE:RE:RE:RE:RE:Chewing through it This gets brought up all the time with smaller but growing companies.
The generic answer is that typically you have to grow to a certain size before the bigger players take notice and consider acquiring you, unless you have some incredible newly patented technology. The figures I keep seeing are in the $50 - $100 million range. Usually to get there, companies will likely have to make some acquisitions of their own like TEI is doing.
I think BEI was stalled at around US$2M annual revenues when it was bought by TEI. Don't know where it stands now, but I think to make a bigger splash from an acquisition strategy perspective, TEI IMO has to acquire something with an already larger revenue base...minimally over $5M IMO that can be synergistically doubled within maximum 3 years.
Significance of the SP plays a role. The higher the SP the more leverage you have in terms of cost of financing.
Until then, continuing to land contracts that are north of $2M like over the last year and a bit, is what should keep us excited. Throw in a couple of mega projects over a year, and will be continuing to go places and be pleased even without the prospect of being acquired.
After the long wait for so many of us, what's another couple of years, right?