The Quick Take Company: Keller Group (LSE: KLR) — the world’s largest geotechnical specialist contractor Thesis: A 165-year-old industrial that has just had its best year ever, sits in net cash for the first time in 25 years, is returning serious capital to shareholders, and is structurally exposed to four mega-trends (data centres, energy transition, […]
The Quick Take Company: MS International (AIM: MSI) — a UK family-controlled engineering group built around MSI-Defence Systems, a tier-one supplier of naval gun systems and counter-drone air defence to global navies and land forces, with three legacy civilian divisions (Forgings, Petrol Station Superstructures, Corporate Branding) now formally being readied for disposal Thesis: A […]
The Quick Take Company: Ondine Biomedical (AIM: OBI) — Canadian life-sciences group commercialising Steriwave®, a non-antibiotic nasal photodisinfection therapy Thesis: Asymmetric, catalyst-driven AIM venture bet on the first FDA-approvable nasal decolonisation product, anchored by HCA Healthcare’s strategic alignment as trial partner, equity holder and intended commercial channel; UK adoption via Mölnlycke supplies validation but is […]
MTI Wireless Edge (AIM: MWE) — Initiation of Coverage The Quick Take Company: MTI Wireless Edge (AIM: MWE) — Israeli antenna and defence-comms group Thesis: Net-cash AIM compounder mispriced as a sleepy small-cap; the PSK Wind defence pivot is materially under-appreciated Valuation: ~68p vs my fair value of 100p (≈47% upside) Key risk: […]
Q1 Portfolio Update: Navigating Multiple Compression and Sector Rotation The first quarter was defined by a ruthless recalibration of equity risk premiums. Against a challenging macroeconomic backdrop, capital rotated aggressively out of long-duration growth assets and into businesses offering tangible near-term cash flows, robust balance sheets, and pricing power. The portfolio generated an average total […]
Overall, this is a highly reassuring statement. The company has successfully navigated the complexities of its transformational acquisitions (Peters Surgical and Syntacoll) while maintaining top-line momentum in its legacy portfolio. Excellent cash generation which allows for the reduction of debt. I think this would be acquired by a private equity in the next 1 year […]
For investors hunting for high-quality, cash-generative compounding machines on the AIM market, Warpaint London PLC (AIM: W7L) has long been a standout name. Historically known for its flagship “dupe” cosmetics brands, W7 and Technic, the company has carved out a highly profitable niche by offering premium-style beauty products at mass-market price points. However, as we […]
MS International (MSI) is one of the most delightfully bizarre conglomerates listed on the London Stock Exchange. If you pitched this corporate structure to a modern MBA class, you would be politely asked to leave the room. The Ultimate Anti-Synergy Conglomerate To understand MSI, you first have to embrace its eccentric corporate structure, which appears […]
Another set of disappointing results. Not too surprising given the new CEO(its fairly common to get all the bad news out before he gets into the job). I will be exiting this holding as this is the third time they had a miss. I suspect they will sell off the fish division and I wouldn’t […]
I usually do not comment on companies in which I no longer have holdings, however I felt an inclination for this one given I’ve held it for a couple of years and the results were so shocking. The share price was down close to 35% on the day due to slowdown in revenue and reduction […]