RE:RE:RE:RE:RE:potential catalyst tomorrow - May 9thI think Bozzetto has proven itself a winner under current CEO Roberto Curreri since 2015, who has led it to double sales and triple EBITDA during the past 8 years.
So I think Bozzetto is probably worth more than the 7x or 8x EBITDA that Aimia paid (they got lucky because the fund that sold it was hitting end of its term and financing was just beginning to seize up). Average specialty chemicals, with less impressive growth record, trading in the open market at 10x EBITDA or higher. And given Bozzetto's pro-ESG / sustainability angle, it will likely garner some premium for that.
Bozzetto has make two prior private equity owners a very very nice return, I don't think the Aimia curse is so strong as to wreck that momentum, but we'll see...