Opinions Charles Dillingham
BrightPath Early LearningBPE.VCOMMENTOct 18, 2011
New effort and well sponsored and seems to be catching on a lot. Finally starting to get cash flow. Very, very illiquid. If you like the concept, you take a long term position. Expects it will succeed.
Charles DillinghamOwned
$0.88
Stock price when the opinion was issued
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COMMENT
A microcap company and a consolidator of day cares. This stock has not done well, however he thinks that most of the changes they needed to do have been done and are looking for efficiencies going forward. At some point he thinks it will be worth $.40-$.50, but it will take some patience to go there. This is a long shot and is probably a bit niche for individual investors.
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DON'T BUY
BUY
Recently announced they will site some of their childcare centers in apartment complexes owned by CAP REIT (CAR.UN-T). Apartment/Shopping centres want them. Not sure how it would help an apartment as much as it would a shopping center. Very positive. Expecting it will gradually keep growing. No yield at this time.
Charles DillinghamOwned
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TOP PICK
A consolidator and developer of child care centers in Canada. The leading player in this space. There is a shortage of 165,000 child care spaces. Has grown from zero in May of 2010 to 4500 licensed childcare in 44 centers. Outstanding management. Back up the truck.
Jeffrey F. OlinOwned
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TOP PICK
(A Top Pick July 29/10. Up 26.87%.) Consolidating childcare centres and because of a huge shortage they are creating new centres. Just announced buying another 5 centres in Western Canada. Very cheap price.
Jeffrey F. OlinOwned
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BUY
Privately run day care centers in Alberta and trying to expand into Ontario. Seem to have top-level people and have limited competition. Good for a long-term position.
Charles DillinghamOwned
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TOP PICK
(Disclosure: he sits on the board.) Consolidating the child care industry and building new childcare centers across the country. Canada is last country to do this. Assembled a management team from Australia and US. Tripled their growth from a standing start. Analysts have targets at $1.75 to $3.00 a share. Thinks that is conservative.
Jeffrey F. OlinOwned
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PAST TOP PICK
(Top Pick Nov 5/10, Up 17.75%) His fund is the largest shareholder of the company and he is on the board. In the child care industry. Canada is going through a consolidation of the childcare industry. It is in its early stages.
Jeffrey F. OlinOwned
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BUY
History of what they have done elsewhere is very good. Still to be proven but early evidence is very positive. Long term growth story is good.
Charles DillinghamOwned
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TOP PICK
(Top Pick Jul 28/10, Up 61%) In the process of consolidating daycare centers in Canada. There is an opportunity for them to increase professionalism in the industry. He is a major shareholder and on the board. A unique entity in Canada. One of the few real estate sectors where demand is well in excess of supply. Opportunity to do new development and create centers.
Jeffrey F. OlinOwned
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TOP PICK
Just raised $40 million. They are a consolidator of the childcare industry in Canada and are buying at 6X EBITDA with the real estate. Sees a 5-10 times return on investment. Outstanding world-class management.
Jeffrey F. OlinOwned
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