Has been looking at this for over 2 years, and met management repeatedly. Was aware of the Short attack circulating this summer, which had some pretty interesting important points to make. When a share price goes from $12 to around $3, his view is that it was fully priced in and there was a big overreaction by the street. They are exclusively based in the US, and have a medical product that is used by gastroenterologists in the clinics, kind of a Trojan horse for them because they have the clinics that are using the medical product, so have a relationship with them. With a number of the clinics, they have effectively bought 50% of the clinic, which allows them to provide the anaesthesia services on behalf of the doctors who work there. A pristine balance sheet. (Analysts’ price target is $5.)
Shaw family put their stake up for sale in Dec/12 and the share price took off. There wasn’t a bidder with an attractive price so the company decided to buy the shares at a premium. This didn’t go over well with some institutional investors. Dual Class share structure is now eliminated, which he likes. Largest pipe coating manufacturer globally. A lot of pipelines are 50-60 years old so this is a great structural play. Just bought the number 2 competitor in the offshore space so expects margins to increase dramatically. Feels it could breach $50 in 12 months.