Quick Pitch: European mid cap with 5-35% IRR range (16% average, 13% average excluding multiple expansion)
5x EBITDA growing revenues at a 12% CAGR historically, 4x levered
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I want to pitch a European small/mid-cap idea (EV~$6b) with a compelling IRR potential today. The company is family-owned and overearned following the pandemic supply chain disruptions. It’s typically not a very cyclical industry, but COVID-19 distorted many things! The company trades at a cheap multiple compared to its history and pays out around half its earnings as dividends. Let’s have a look!
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