Aviation parts biz PTB Group attracts $200m bidAnthony Macdonald, Sarah Thompson and
Kanika SoodAug 18, 2022 – 4.16pm
Aviation parts company PTB Group has found itself a $200 million-odd buyout, with sources pointing to US-based Precision Aviation Group as the most logical acquirer.
PTB Group shares went into a trading halt on Thursday afternoon ahead of the transaction.
Sources said the deal would be at about a
40 per cent premium to the last traded price of $1.15 a share, which would value PTB Group at about $200 million.
PTB Group, based in Queensland, listed in December 2006 and sells aviation parts and services globally. It specialises in Pratt & Whitney PT6A/PT6T and Honeywell TPE331/T53 turbine engine repair and overhaul, and has sites in Australia and the United States.
The company was expected to report about $19 million in earnings in the year to June 30, on an earnings before interest, tax, depreciation, amortisation and foreign exchange gains/losses basis.
The company’s biggest shareholder is Asir & Nek Private Ltd, which has an 11.6 per cent stake.
Precision Aviation Group was founded in 1993 as Precision Heliparts, supply parts to the helicopter industry. The group now has operations in the US, Canada, Australia and Singapore.
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Saintex (thanks for the heads up), that's $1.61 ! Got lucky with this one.
Moral of story: There are quite a number of these sorts of companies which are undervalued but have good business model and resilient to weather challenging times. These are companies I look for in this present time (of bear market over but not bull market).
Also NWH got into trading halt, pending announcement, HC forum of the stock thinks it could be an MLD acquisition.
