Bruce Campbell (2) dentalcorp Holdings Ltd DNTL-T BUY Sep 27, 2022

AND does drug distribution in western Canada. Incredibly stable business with good runway for growth. Nice compliment to a portfolio without expensive or risky plays. DNTL rolls up dental practices in Canada. A recession proof business.

Fantastic business, but high debt levels recently.
Currently going through a strategic review process.
Expecting a private equity business to purchase company.
Strong management team.

DNTL is still getting into its acquisition and roll-out strategy, and currently trades at an OK valuation. 
The company has a strong equity position of $1.8 billion on a $1.6B market cap, although $2.1B of its assets are in goodwill, which can change quickly if an impairment charge takes place. 
Revenue growth has been averaging in the 20%+ range, and it generates positive free cash flows which is mostly puts towards acquisitions. 
We would like to see the company maintain or grow its current sales growth rates, and increase its profitability before stepping in here, but largely the company is on a decent trajectory.  
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Good business that is defensive. However, debt levels high - has grown thorough debt. Would recommend watching. EBITDA would suggest company is cheap - however a true analysis of the business would suggest interest rates are a burden. Would recommend investing if the debt levels fall. 

IT is pretty cheap and he has been looking at it but there is a lot of debt. He would buy if the debt gets to where it is less than three years of cash flow. Pretty strong execution.