Hi Ashentegra .....
It was good of you to call by .
I assume Adam is an American ?
But rather than nationality, I was curious about the look in his eye ...
Coliseum has lots of interests and in all cases (or most) Adam appears to be on the board, which means he must be a very busy man?
In February 2018 a new directorship was created for him at a Utah-based pillow and other ‘comfort tech’ business, Purple Innovations:
https://www.prnewswire.com/news-rel...gray-to-its-board-of-directors-300594712.html
“Adam Gray, co-founder and Managing Partner of alternative investment manager Coliseum Capital Management, LLC, has nearly 30 years of capital stewardship, private equity and operating experience.
Mr. Gray has significant expertise leading operational and financial restructurings and has helped guide organizations through highly complex growth-oriented and distressed situations.
He was most recently appointed to the Board of Directors of The Pas Group, one of Australia's largest apparel businesses, and currently serves as Non-Executive Chairman and Non-Executive Director of Redflex Holdings Limited.
He is also a Director of New Flyer Industries Inc. Mr. Gray is a former Director of Blue Bird Corporation, Benihana, Inc., and DEI Holdings, Inc.
Prior to founding Coliseum, Mr. Gray held senior positions at Burger King Holdings, Inc. and Metromedia Restaurant Group. Mr. Gray began his career with the Merchant Banking Division at Morgan Stanley before joining Kluge & Co (the internal merchant bank of Metromedia Company).”
See price of it here :
View attachment 1742570
Of the other companies associated with Coliseum, from that information, New Flyer Industries is a listed company that makes buses ....it has dropped 44% in value in the last year.
As you say PGR has also lost money - exactly 50% in the last year.
One of Coliseum’s ex companies, Blue Bird also makes buses, the iconic US school buses ...Adam was made a director in February 2015
http://www.annualreports.com/HostedData/AnnualReportArchive/b/NASDAQ_HCACU_2016.pdf, and Coliseum exited via a shares repurchase program in September 2017 .... that one seems to have doubled in value during the period.
This is all just side information, not directly relevant to Redflex where Adam has been sitting in a power position for rather a long time and I regret I am not coming up with any exciting news
@SimonGr.
FWIW in case it hasn’t been linked already, I also found some rather unloving recent press that is more directly related ;
.....A ‘cold case’ Cease and Desist order in Denver in August, 2019
https://denver.cbslocal.com/2019/08/29/denver-red-light-camera-unlicensed/
Redlex installed four red light camera intersections ‘beginning in 2008’ and now operated by another company, but was apparently never given permission to build in Colorado .....
...and Irish workers on strike against the company earlier this month
https://www.thenewspaper.com/news/67/6791.asp
And Ashentegra, yes I will look at PGR, although I am possibly more interested in Kalium Lakes which was mentioned on the NWH site by
@jacko1 a few months ago, and which I read about more recently in a Karratha village development press report.
I will post it over there if it has not been linked ....
Cheers
