It's certainly true that roll ups carry there own risk, and a higher degree of care is needed as an investor / business owner.In this case, my view is that the core business is growing nicely and (so far) most acq have been quite strategic bolt ons that are not material from a size, and hence risk, perspective.
Further, SEQs strategy has been very clearly articulated making it easier to get a feel for progress and the like.
Ultimately, at this stage I continue to consider this a very well run business with a well executed strategy. Garry also seems to be a very conservative operator. Doesn't guarantee success, but does increase the chances.
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