I didnt realise they were that big, that news is a bit...

I didnt realise they were that big, that news is a bit disturbing if it cost that much and their earnings do fall.

The only positive thing i might suggest is that spotless does already have a presence in the industry through AE Smith, so there might be some synergies expected, and other sources of work, they couldnt have been blind to the risks.

I expect spotless have more longer term goals for their acquisitions than the immediate contracts that they provide. That they provide integrated services and long term contracts means they should have a good idea of where they can grow revenue. So smallish bolt-ons i dont have a problem with.

The worry for me is that management said they where going to focus on organic growth, and with debt levels already high by their own admission i wonder if even they believe in their own plan.