Totally Agree, net cash of $50m, simplification & de-risking of the business
The revised numbers would now be $210m - $220m revenue and circa $65-75m ebit with a stable, sticky & low risk client portfolio making it appealing for a bolt on acquisition for a global player.
Interest rates = higher for longer and even without PCSIL it’s still $44m on current run rate
I actually like Peter Langs chances of taking on the CEO role as he has experience in senior gigs in salary packaging and he was engaged by EML to get their NSW Health vertical off the ground which has grown to other states & broader.
Ann: Settlement of PFS Group Acquisition Liabilities, page-25
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