SA Transcripts • Nov. 5, 2014
Platform Specialty Products: The Architect And The Builder
- Arysta acquisition is highly accretive, diversifies the Agrosolutions business towards both higher growth markets and higher growth products.
- Acquisition brings more talent to the company and increases the magnitude of synergies.
- The architect Martin Franklin and the builder Dan Leever can pick up the pace of mergers.
- The company continues to be undervalued if it is able to compound capital at high rates via mergers.
Platform Specialty Products: Rare Opportunity Continues To Be Available
- PAH has deep bench of high quality, unconventional managers.
- Agriphar acquisition fits the roll-up strategy.
- Mr. Market continues to not fully understand the opportunity and assigns an average price for an above average business and management team.
- The risk/reward for long-term investors is very appealing.
Platform Specialty Products - The Next Great Serial Acquirer
- Great experienced management team with a rich history of building shareholder wealth.
- Great underlying investments with organic growth.
- Strong recurrent free cash flow generation.
- Possibly the beginning of a great adventure.
Platform Specialty Products: AgroSolutions Acquisition Is Just The Beginning
- Acquisition of Chemtura's AgroSolutions is immediately accretive to earnings, cash flow and margins which should grow significantly over time.
- AgroSolutions is a new vertical for PAH to build in and produces stable cash flows, with low capex needs, that provide ample ammunition for acquisitions.
- PAH continues to trade for an average multiple which could look very undervalued a few years out if company is successful in their acquisition strategy.
Oct. 15, 2014, 2:17 PM
- The ten companies in the Russell 1000 in which hedge funds hold the biggest stakes are down an average of 16% since that index hit an all-time high on September 18, according to Bloomberg. This stands against a slide in the index of just 7%.
- “The reactive selling is institutional,” says a portfolio manager. “Now redemptions are coming in, and that’s putting more pressure on the market. All these things are in the mix for perhaps exacerbating the move.”
- The list: Burger King Worldwide (BKW -4.5%), CVR Energy (CVI -2.4%), Spectrum Brands Holdings (SPB -3.3%), Ally Financial (ALLY -2.6%), Zynga (ZNGA -1.3%), NorthStar Realty (NRF -1.9%), Seventy Seven Energy (SSE -6.6%), Platform Specialty Products (PAH -1.4%), and SunEdison (SUNE -0.6%).
PAH vs. ETF Alternatives
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