To me, RFL now is just a standard acquisition / roll up play -...

To me, RFL now is just a standard acquisition / roll up play - nothing special. Organic growth is a struggle.
Operating in an industry that requires large investments to remain relevant, and with Senior Management that have limited operational experience in the industry.

What is more, they now have a top heavy management team worthy of a $1b+ mc company - but now seems very over the top for a sub $100m mc company. And from speaking to a few people, not a particuarly impressive management team at that.

I confess I got caught up in the hype last year around ASX300 entries, and the continuous compounding EBITDA growth projections management were feeding out....so that may be tainting my view on RFL!