Cleanaway got a green light acquired ToxFree for $671m last year, half year results up 9.3% organically.
CWY:
Last half year EBITDA $229m,
Enterprise value: $5,055m
PE: 32
EV/EBITDA: 10.9
BIN:
FY19 forecast,
EBITDA: $92m - $96m
Cash: $450m (assuming $69m operating cash would be all spent on capex)
Net cash: $280m
Enterprise value: $427m
EV/EBITDA: 4.5
If ACCC says yes for DADI acquisition,
Then,
EBITDA: $152m - $156m
Cash: $25 (assuming $69m operating cash would be all spent on capex)
Net debt: $145m (total loan facility $500m)
Enterprise value: $947m
EV/EBITDA: 6.1
Price increase will implement from 1 July 2019; integration saving from DADI might be helpful if went through.
https://www.incleanmag.com.au/cleanaway-make-bid-bingo-industries/http://wastemanagementreview.com.au/cleanaway-to-acquire-toxfree-solutions/DYOR.
